The Asia-Pacific region is projected to be the fastest-growing market for aerospace composites from 2016 to 2026. The high penetration of composites testing in this region can be attributed to the high demand for composites from commercial aircraft, sporting goods and wind energy applications in this region, which in turn is leading to the high demand for composites testing. In addition, private companies are also investing in this region owing to the high demand for composites for indigenous aircraft such as Comac C919, and the wind energy and sporting goods applications.
With the highest demand for composites from the French aerospace & defense companies, France leads the composites testing market in Europe. The development and manufacture of a wide range of composite products, for commercial, military, and civil aircraft and systems & equipment, are driving the composites testing market in the country. In addition, the costs for establishing a business or facility in France are the lowest in terms of facility costs, utility costs, transport, and corporate taxes. Furthermore, corporate income tax in France is either low or nil.
Some of the key global players in the composites testing market are Exova Group plc (U.K.), Intertek Group plc (U.K.), Mistras Group Inc. (U.S.)., Element Materials Technology (U.S.), Westmoreland Mechanical Testing & Research Inc. (U.S.), Matrix Composite Inc. (U.K.), Instron (U.K.), ETIM Composites Testing Laboratory (France), Henkel AG & CO. KGaA (Germany). These players have adopted various organic and inorganic developmental strategies for the period, 2016 to 2021.
