With Industrial Internet of Things (IIoT) or Industry 4.0 transforming manufacturing and operations ecosystems across the aerospace & defense (A&D) industry, electronic test equipment (ETE) vendors have begun to evolve their technologies to keep pace.
A&D companies are ready to support the latest technological developments with substantial investments in R&D as new technology adoption vendors are responding to the surge in opportunities for asset management, condition monitoring, and data analytics services with expansions in the frequencies, bandwidth availability, and functionalities of their existing systems.
“ETE vendors are not only rolling out next generation measurement and instrumentation equipment but are also adopting novel business models,” said Sambaran Das, Senior Research Analyst, Measurement & Instrumentation. “Software-as-a-Service (SaaS)-based models, in particular, are likely to gain traction as A&D customers across applications automate their processes. It can prove to be a highly significant value addition delivered by hardware vendors selling software.”
Frost & Sullivan’s recent analysis, Global Electronic Test Equipment Market in Aerospace & Defense, Forecast to 2024, provides a detailed analysis of the current and evolving opportunities in the A&D industry for the electronic test, measurement, and instrumentation market.
This assessment includes forecasts, an overview of the competitive structure, competitors’ market share, market trends, and product analysis. It also identifies market drivers and restraints, key growth opportunities, challenges, and possible threats.
