Aerospace and life sciences TIC Market Forecast, Opportunities and Challenges

MarketsandMarkets Presents Aerospace and Life Sciences TIC Market by Sourcing type (In-house and Outsourced services), Service Type (Testing, Inspection and Certification), Application (Aerospace and Life Sciences) and Region Forecast to 2025

The aerospace and life sciences TIC market is expected to grow from USD 31.3 billion in 2020 to USD 37.8 billion in 2025, at a CAGR of 3.8%.

MarketsandMarkets Presents Outsourced Services, by scanning type, is expected to grow at the highest CAGR during the forecast period The demand toward outsourcing by manufacturing companies, and in specific instances, the privatization of state-owned laboratories and criticality in the manufacturing of components and parts are expected to continue to be a robust factor driving the progress of the aerospace and life sciences TIC market for outsourced services.

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MarketsandMarkets Presents Certification service, by service type, is expected to grow at the highest CAGR during the forecast period The aerospace and life sciences TIC market for certification services is expected to grow at the highest CAGR as certification services help in streamlining the processes and growth, manage counterfeit products and helps in accessing to international markets for trade.

MarketsandMarkets Presents Medical devices application, is expected to grow at the highest CAGR during the forecast period This unpredictable pandemic has required health systems to respond to urgent mobilization of resources to mitigate risks associated with this deadly virus. In the process, it has caused immense stress on the healthcare workforce and hospital infrastructure and has posed enormous demand for test kits, ventilators among other innovative medical and diagnostics interventions which has led to the

MarketsandMarkets Presents India, by country, is expected to grow at the highest CAGR during the forecast period One of the major reasons for India's domination of the market is the presence huge R&D facilities, top class pharmaceutical manufacturing companies and advanced supply chain. As India is helping and collaborating with many countries in order to curb the effect of COVID19, the demand for medical devices, medicines and necessities has led to the growth of Indian market in the forecast period.

MarketsandMarkets Presents A few key players operating in the Indian market are TÜV SÜD (Germany), SGS (Switzerland), Bureau Veritas (France), Intertek (UK) and Eurofins Scientific (Luxembourg)

MarketsandMarkets Presents India, by country, is expected to grow at the highest CAGR during the forecast period One of the major reasons for India's domination of the market is the presence huge R&D facilities, top class pharmaceutical manufacturing companies and advanced supply chain. As India is helping and collaborating with many countries in order to curb the effect of COVID19, the demand for medical devices, medicines and necessities has led to the growth of Indian market in the forecast period.

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