Nondestructive Testing Equipment and Services: Ultrasonic, Radiographic, Eddy Current and Others

The global nondestructive testing (NDT) equipment and services market should grow from $22.3 billion in 2020 to $34.1 billion by 2025 at compound annual growth rates (CAGR) of 8.9% for the period of 2020-2025.

Report Includes

• 64 tables
• An overview of the global market for nondestructive testing (NDT) equipment and services with emphasis on key NDT methods such as ultrasonic, radiographic, eddy current, acoustic emission, liquid penetration, magnetic particle, infrared thermal imaging etc.
• Analyses of global market trends with data from 2018 to 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
• Regional dynamics of the global NDT market covering key geographical regions, including North America, Europe, Asia-Pacific and other emerging economies (rest of the World)
• Discussion of key NDT end-user markets and sales by the technologies used within each market
• A look at the key NDT technologies, including their individual histories and application areas
• Identification of companies best positioned to meet the high demand supply ration of NDT products and services
• Patent analysis covering significant patent allotments
• Company profiles of market leading players in NDT business, including Advanced OEM Solutions, Comet Technology Corp., FujiFilm Holdings Corp., Thermo Fisher Scientific Inc., and Williamson Corp.

The global market for nondestructive testing (NDT) equipment and services reached $15.8 billion in 2016. This market should reach more than $17.2 billion in 2017 and $26.4 billion by 2022, at a compound annual growth rate (CAGR) of 8.9% through 2022.

Report Includes

• An overview of the nondestructive testing (NDT) market.
• Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
• Identification of companies actively engaged in the development and manufacture of NDT equipment.
• A look at key NDT technologies, including their individual histories and applications.
• Discussion of key NDT end-user markets and sales by the technologies used within each market.
• Relevant patent analysis.
• Profiles of major players in the industry.

• The total U.S. market for nondestructive testing (NDT) technologies is valued at nearly $2.5 billion in 2010. This market is forecast at more than $2.3 billion in 2015, representing a compound annual growth rate (CAGR) of -0.9% between 2010 and 2015.
•  Nondestructive testing techniques play a crucial role in the manufacturing sector. Preliminary data for 2010 indicate that the U.S. manufacturing sector is recovering. BCC estimates the 2010 market for manufacturing NDT equipment at about $422 million, or 2% more than in 2009. By 2015, the market will exceed $590 million, a 6.9% compound annual growth rate (CAGR) since 2010.
• The U.S. aerospace industry purchased about $269 million worth of NDT equipment and supplies in 2009, a figure that is projected to decline to $265 million in 2010. By 2015, this sector is expected to be worth nearly $316 million, reflecting a compound annual growth rate (CAGR) of 3.6%.

• The U.S. nondestructive testing equipment market was worth some $2.2 billion in 2005, including baggage and cargo inspection systems that use NDT technologies. This market is projected to expand at an average annual growth rate (AAGR) of 5.1% between 2006 and 2011, growing from $2.3 billion in 2006 to nearly $3.1 billion in 2011.
• Transportation security is by far the largest and one of the fastest-growing, markets for NDT equipment and supplies. Other major markets, in order of size, include manufacturing (particularly electronics), power generation, and chemicals/petrochemicals.
• The NDT techniques expected to experience the fastest growth over the next 5 years are x-ray radiography, visual/optical/photonic inspection and infrared/thermal imaging.

• The U.S. nondestructive testing equipment market currently stands at $1,380 million and is projected to grow at an average annual growth rate (AAGR) of 5.1% reaching $1,769 million by 2008.
• The NDT techniques expected to experience the fastest growth over the next 5 years are x-ray radiography and infrared and thermal imaging, driven by homeland security issues.
• Transportation security currently makes up 32% of the market and is also the fastest growing application, with an AAGR of 7.1%.
• Film-based radiographic testing, liquid penetrant, and magnetic particle testing are expected to continue their long-term decline, as they do not easily lend themselves to automation or computerization.