|Accelerating Advanced Driver-assistance Systems (ADAS) Development Drives Growth in the Global Hardware-in-the-loop Testing Market|
|Future Growth Potential Enhanced by Growth Opportunities in Electric Vehicles and Aerospace and Defense Technologies|
The development of vehicles with enhanced ADAS capabilities is an important driver for the hardware-in-the-loop (HIL) testing market. This is driven by the requirement for a solution that can cost-efficiently validate the number of electronic control units ECUs incorporated into these vehicles in a short timeframe. The demand for innovative HIL testing solutions in the automotive industry is also driven by the adoption of electric vehicles (EVs) around the world, particularly in China. The demand for HIL solutions that can be used to test the EVs is driven by the requirement to validate the function of the battery unit and other power electronics components inside the EV. The aerospace and defense industry is another important vertical for this market of which commercial aviation is an important subsegment. However, due to regional lockdowns imposed in 2020, there has been a substantial slump in aviation demand. This slump has been so significant that it has disrupted the entire entire value chain, with Boeing and Airbus cutting production by 50% for 2020. The aerospace and defense industry has, therefore, been a significant growth restraint on the HIL testing market. With a strong automotive presence and home to two of the world’s fastest growing aviation markets, Asia-Pacific will be an important region for the HIL testing market.
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