DUBLIN, Dec. 14, 2017 /PRNewswire/ --
The "Aerospace & Life Sciences Testing, Inspection, and Certification Market by Service Type, Sourcing Type, Application, and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
The aerospace & life sciences Testing, Inspection, and Certification (TIC) market is expected to increase from USD 30.45 Billion in 2017 to USD 41.60 Billion by 2023, at a CAGR of 5.34% between 2017 and 2023
The growth of this market is mainly driven by growing consumption of goods in emerging countries, increasing incidents of product recalls globally, the surge in global counterfeiting and piracy activities, and the imposition of rigorous government regulations and standards across various sectors.
The aerospace & life sciences TIC market for testing services accounted for the largest share in 2016. There is an increasing demand for testing services in most applications owing to the rising demand for good-quality and standard products across the industry. Manufacturers are required to ensure the products have met the quality, technical, safety, and performance regulatory standards to increase the marketability of their products.
The aerospace & life sciences TIC market for in-house sourcing type accounted for the largest share in 2016. Earlier, manufacturers and organizations had to adhere to limited standards and regulations; hence, it was possible for companies to build their in-house testing and inspection capabilities. In recent years, the standards pertaining to human/user safety and environmental safety have increased and become mandatory for certain category of products.
The aerospace & life sciences TIC market for the medical & life sciences application held the largest share in 2016. The medical & life sciences industry is subject to a variety of stringent regulations, standards, and legislation. The medical & life sciences application includes medical devices, health, beauty & wellness, clinical services, laboratory services, and biopharmaceutical and pharmaceutical services. These industries are required to meet the highest levels of safety and reliability for the safety of consumers and assets.
SGS (Switzerland) is one of the leading companies in the aerospace & life sciences TIC market, followed by Bureau Veritas (France). SGS is highly focused on its continued growth through acquisitions, strategic partnerships, and expansions to gain a competitive advantage. Bureau Veritas focuses on acquiring small companies. It has acquired more than 100 companies in the past 10 years.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Aerospace & Life Sciences TIC Market, By Service Type
7 Aerospace & Life Sciences TIC Market, By Sourcing Type
8 Aerospace & Life Sciences TIC Market, By Application
9 Aerospace & Life Sciences TIC Market, By Region
10 Competitive Landscape
11 Company Profiles
- ALS Limited
- Avomeen Analytical Services
- Bureau Veritas
- DNV GL
- Element Material Technology (Exova)
- Element Materials Technology
- Eurofins Scientific
- Gateway Analytical
- Key Innovators
- TUV Nord
- TUV Rheinland
- TUV SUD
For more information about this report visit https://www.researchandmarkets.com/research/vbvlrw/aerospace_and?w=5
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