The Worldwide Hardware in the Loop Industry is Projected to Reach $1.2 Billion by 2027
Retrieved on:
Thursday, September 29, 2022
The hardware in the loop market size is estimated to be valued at USD 817 million in 2022 and is projected to reach USD 1,291 million by 2027, growing at a CAGR of 9.6% from 2022 to 2027.
Key Points:
- The hardware in the loop market size is estimated to be valued at USD 817 million in 2022 and is projected to reach USD 1,291 million by 2027, growing at a CAGR of 9.6% from 2022 to 2027.
- Hardware in the loop is used in the last stage of the V-cycle product development of control systems.
- With the advancement in these systems, their complexity also increases, which requires rigorous testing, thus increasing the product development time.
- Hardware in the loop testing is widely adopted by the manufacturers and suppliers of aerospace equipment in the country.