Aerospace & Life Sciences Testing, Inspection, And Certification (TIC) - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Aerospace & Life Sciences Testing, Inspection, And Certification (TIC) Market is accounted for $33.79 billion in 2019 and is expected to reach $59.37 billion by 2027 growing at a CAGR of 7.3% during the forecast period. Some of the factors propelling the growth of the market are increasing demand for high-quality medical devices in life sciences applications across developing countries, growing consumption of goods in emerging countries and rising product safety, and quality concerns across the globe. However, different standards and regulations across geographies are hampering the growth of the market.
The Testing, Inspection, and Certification (TIC) sector consists of conformity assessment bodies that provide services ranging from auditing and inspection to testing, verification, quality assurance, and certification. This helps to produce high quality, safe, and reliable aerospace products/components, pharmaceuticals/biopharmaceuticals/ & medical devices, and other life science products.
Based on the sourcing type, the in-house segment is anticipated to hold considerable market share during the forecast period as it is helpful to maintain higher visibility and a higher degree of control over processes and improves the delivery performance. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the strong support from the government to promote the development of aviation industry, increasing initiatives to maintain innovative research and increase professional networks, and the increasing number of small and medium enterprises (SME) in the aerospace industry.
Some of the key players profiled in the Aerospace & Life Sciences Testing, Inspection, and Certification (TIC) Market include Medistri SA, Applus+ Group, SGS, Mistras, Envigo, Inc., Intertek Group PLC, Gateway Analytical LLC., Eurofins Scientific, Element Materials Technology, DNV GL Group, Bureau Veritas Group, and Avomeen Analytical Services.
Service Types Covered:
• Testing Services
• Inspection Services
• Certification Services
• Other Services
Sourcing Types Covered:
• Medical & Life Sciences
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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