Aerospace and Life Sciences Testing, Inspection, and Certification Market - Global Opportunity Analysis and Industry Forecast to 2025

The Aerospace and Life Sciences TIC Market is projected to reach $42.2 billion by 2025 from $30.3 billion in 2019, growing at a CAGR of 5.6% during the forecast period. TIC services improve the quality of manufacturing process by testing, inspecting, and certifying in compliance with regulations/standards across the globe. This helps in the production of high quality, safe, and reliable aerospace products/components, pharmaceuticals/biopharmaceuticals/ & medical devices, and other life science products. Factors such as increasing production in aerospace & life sciences, adoption of new materials in aircraft, and stringent aviation regulations & certification standards for the aircraft safety; and rising investments in the life sciences & aerospace industries, and growing demand for good-quality and standard products across the industry are driving the market growth.

Rising product safety and quality concerns across the globe are driving the growth of aerospace and life sciences TIC market

Regulatory bodies such as FDA and EMA in life sciences industry are strongly emphasizing on the product quality & safety. This creates pressure on the medical device/pharmaceutical and other life science products manufacturers to achieve the standard compilation such as testing, inspection, and certification. In the life science industry, some of the manufacturers have recalled the products due to the product contamination. For instance, in February 2018, Kareway Products, Inc (US) recalled Sterile Eye Irrigation Solution namely Gericare Eye Wash due to product contamination. Similarly, in February 2018, Apace Packaging LLC, recalled Acyclovir 400mg Tablets due to product mix-up. Such product issues are increasing concerns over product safety & quality from patients, physicians, and health authorities. This scenario is expected to support the necessity of TIC and expected to drive the growth of TIC market in Life sciences industry.

Furthermore, aerospace industry has shown tremendous growth over the last decade owing to developments in digital technologies and telecommunications. This further encourages the aircraft/spacecraft manufacturers to develop advanced aerospace products with increased safety & quality concerns, which further increases the necessity of TIC. Such developments & concerns are expected to drive the growth of TIC market in aerospace industry across the globe.

Increasing number of contracts/collaborations in aerospace & life sciences industries is expected to provide key opportunities for the growth of TIC market

Increasing number of contracts between government and companies in aerospace & life sciences industry are creating significant opportunities for companies operating in this space. For instance, in the US, Lockheed Martin (manufactures aerospace and defense equipment), Boeing Company (commercial plane manufacturer), and Northrop Grumman Corporation (builds spacecraft & military planes) have collaborated with government at national or regional level. Through such contracts, the aerospace companies are trying to increase the production of aircraft. Approximately, 38% growth has been recorded in aerospace related contracts between aerospace companies and government over the past five years which is expected to be more in the coming years.

In addition, the pharma/biopharma & medical device manufacturers are encouraging to build public-private partnerships/collaborations with governments which enable the manufacturers to support the development of new technologies and offer better solutions in life sciences and expand their production across the globe. For instance, in August 2018, GE Healthcare in support of Swedish government launched an innovation center to promote the commercialization of innovative technologies and enhance the manufacturing capabilities in life sciences which further support the testing of new products in the life sciences industry.

These contracts/collaborations in aerospace and life sciences industries are enabling the companies to improve product’s quality, safety, and help them to achieve standard regulatory compliance.

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Key Findings in the Global Aerospace and Life Sciences TIC Market Study:

Inspections segment will witness the fastest growth in the services segment of the aerospace & life sciences TIC market during the forecast period (2019–2025)

Inspection involves the checking of products according to standard regulations/guidelines and particular specifications/requirements to achieve the product compliance. Inspection process reviews the appearance, structure, and functions related to the products and address the quality defects associated with the products prior reaching customers. This enables the products manufacturers to recheck the product features and helps the manufacturers to deliver highly efficient products to the customers and thereby increase customer support across the globe.

Growing number of product recalls due to product related issues, such as faulty components & parts in aerospace, product contamination & product mix up in life sciences, and improper inspection procedures have created the demand for inspection services in aerospace & life sciences industries.

In- house sourcing dominates the global aerospace & life sciences TIC market

TIC companies and product manufacturers have built their own in-house testing, inspection, and certification services and evaluate the safety, quality, & efficiency of the products in line with regulatory requirements. In-house testing is helpful to maintain higher visibility and higher degree of control over processes and improves the delivery performance. Moreover, disadvantages associated with outsourced services including unexpected hidden costs, like logistics costs and others is also enabling the manufacturers to focus more on in-house testing.

Life sciences industry dominates the global aerospace & life sciences TIC market

Life sciences industry is further segmented into biopharma/pharmaceutical & medical devices services; clinical & laboratory services; health, beauty & wellness; and others. Growing concerns over the safety & quality of medical implants and pharmaceutical & biopharmaceutical products, increased product recalls, strong recommendation from regulators to ensure the product quality & safety, rising demand of more efficient & safety personalized solutions, and growing consumption of organic source based high quality & safety food products are driving the growth of TIC market in life sciences industry.

Asia Pacific: The fastest growing regional market

Asia Pacific comprising of China, India, Korea, Japan, and Rest of Asia Pacific (RoAPAC) will witness the fastest growth during the forecast period (2019–2025). Factors such as strong support from the government to promote the development of aviation industry, growing number of aviation passengers, increasing initiatives to support innovative research and expand professional networks, growing number of small and medium enterprises (SME) in aerospace industry, rising funds/investments in life sciences, growing partnership programs, rapid urbanization and improved regulatory system, and increasing demand for low cost and high quality & safety products in life sciences industry are helping TIC services to experience significant growth in the APAC region.

Key Players

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 5 years (2015–2019). The key players profiled in the global Aerospace & Life sciences TIC market report are Eurofins Scientific, TUV SUD, SGS SA, ALS Limited, Applus+, TUV Nord, Intertek Group Plc, Bureau Veritas, DNV GL, and MISTRAS Group, Inc.

Scope of the Report:

Market by Service

• Testing
• Inspection
• Certification

Market by Sourcing

• In-house
• Outsourcing

Market by Application

• Life sciences
• Biopharma/Pharmaceutical & Medical Devices Services
• Clinical & Laboratory Services
• Health, Beauty & Wellness
• Others
• Aerospace
• Aerospace Manufacturing Services
• Aviation Management Services
• Others

Market by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • China
  • Japan
  • Korea
  • India
  • Rest of APAC (RoAPAC)
• Latin America and Middle East Africa