Global Aerospace and Life Sciences TIC Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Sourcing Type;

In-house services and Outsourced services.

By Service Type;

Testing, Inspection, Certification and Others.

By Application;

Medical and Life Sciences and Aerospace.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn646057288 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Aerospace and Life Sciences TIC Market (USD Million), 2020 - 2030

In the year 2023, the Global Aerospace and Life Sciences TIC Market was valued at USD 35,729.02 million. The size of this market is expected to increase to USD 50,948.49 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 5.2%.

The global aerospace and life sciences Testing, Inspection, and Certification (TIC) market is experiencing robust growth, driven by stringent regulatory standards and the increasing complexity of products in these industries. Aerospace TIC services encompass testing, inspection, and certification of aircraft components, systems, and materials to ensure compliance with safety and quality standards. Similarly, in the life sciences sector, TIC services play a crucial role in verifying the safety, efficacy, and quality of pharmaceuticals, medical devices, and healthcare products, ensuring they meet regulatory requirements and industry standards.

One of the primary drivers of the aerospace and life sciences TIC market is the rising emphasis on safety and quality across the supply chain. With increasing globalization and outsourcing of manufacturing activities, there is a growing need for independent verification and validation of products to mitigate risks and ensure compliance with regulatory frameworks. Aerospace and life sciences companies rely on TIC providers to conduct thorough inspections, rigorous testing, and certification processes to maintain the highest standards of safety, reliability, and performance.

Moreover, technological advancements and innovations are reshaping the aerospace and life sciences TIC landscape. Automation, data analytics, and artificial intelligence are being integrated into TIC processes to enhance efficiency, accuracy, and speed of inspections and testing. Additionally, the emergence of new materials, manufacturing techniques, and healthcare technologies necessitates continuous adaptation and evolution of TIC services. As a result, TIC providers are investing in advanced capabilities and expanding their service portfolios to address the evolving needs of aerospace and life sciences industries, driving further growth and innovation in the global market.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Sourcing Type
    2. Market Snapshot, By Service Type
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Global Aerospace and Life Sciences TIC Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Regulatory Compliance Demands
        2. Product Complexity
        3. Technological Advancements
      2. Restraints
        1. High Costs
        2. Skilled Workforce Shortage
      3. Opportunities
        1. Global Expansion
        2. Emerging Market Growth
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Aerospace and Life Sciences TIC Market, By Sourcing Type, 2020 - 2030 (USD Million)
      1. In-house services
      2. Outsourced services
    2. Global Aerospace and Life Sciences TIC Market, By Service Type, 2020 - 2030 (USD Million)
      1. Testing
      2. Inspection
      3. Certification
      4. Others
    3. Global Aerospace and Life Sciences TIC Market, By Application, 2020 - 2030 (USD Million)
      1. Medical and Life Sciences
      2. Aerospace
    4. Global Aerospace and Life Sciences TIC Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Bureau Veritas
      2. Intertek Group plc
      3. SGS SA
      4. DNV GL
      5. TÜV SÜD
      6. Eurofins Scientific
      7. ALS Limited
      8. Applus+
      9. Exova Group Limited (acquired by Element Materials Technology)
      10. UL LLC (Underwriters Laboratories)
  7. Analyst Views
  8. Future Outlook of the Market