NDT Services Market to showcase significant growth from visual inspection segment over 2019-2025 | Top Key Players includes Applus+, DEKRA, Mistras Group, Inc., NDT Global, NIKON METROLOGY, SGS, TEAM, Inc.

NDT Services Market in visual inspection segment accounted for over 20% in 2018, as the technique is easy to implement and usually eliminates the need for any further types to testing. These methods have proven to be inexpensive alternatives to volumetric & surface inspection methodologies. Some of the industry verticals, which use visual testing methodology include structural steel, automotive, petrochemical, aerospace, and power generation. The lack of skilled inspectors and inadequate training infrastructure have restricted its acceptance among various sectors.

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The radiography market is expected to attain a growth rate of over 5% during the forecast timespan. The rise in the number of infrastructural developments and the introduction of stringent regulations for the maintenance of various critical infrastructures have created myriad of opportunities for the growth of the radiography NDT services market. The technology is used in the automotive and aerospace manufacturing industries to manufacture high-tolerance components while reducing wastage. The time-consuming nature, high implementation cost of the technology, lack of trained professionals, and risks associated with the radiation exposure are restricting its adoption in certain industry verticals.

The commercialization potential of NDT services market is set to witness renewed momentum owing to the evolving demands of the global industrial sector and the effect of digital transformation. These services are anticipated to reach a wider range of business verticals due to the rising number of disruptive innovations and the emergence of pathbreaking technologies such as AI and IoT.

The visual inspection segment accounted for over 20% NDT services market revenue in 2018, as the technique is easy to implement and usually eliminates the need for any further types to testing. These methods have proven to be inexpensive alternatives to volumetric & surface inspection methodologies. Some of the industry verticals, which use visual testing methodology include structural steel, automotive, petrochemical, aerospace, and power generation. The lack of skilled inspectors and inadequate training infrastructure have restricted its acceptance among various sectors.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Applus+
2. DEKRA
3. Mistras Group, Inc.
4. NDT Global
5. NIKON METROLOGY
6. SGS
7. TEAM, Inc.
8. TÜV Rheinland Group
9. TÜV SÜD

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NDT services market in aerospace segment is expected to register robust growth during the forecast time period. NDT services provide effective & economical solutions for high-volume & low-cost production of various aerospace components. They are used for monitoring and testing safety-critical components without affecting their structural integrity. The services provide a highly-effective way to detect minuscule imperfections or damage in components or materials throughout their operational lifecycle. They are used to detect geometrical irregularities such as material thickness, bond line & wielding defects, delamination, porosity, foreign objects, cracks, and corrosion.

Europe region held over 30% industry share in the NDT services market in 2018 due to the presence of several players such as Intertek, SGS, and Bureau Veritas in the region. The players are conducting various collaborative efforts to expand their geographical reach across various high potential markets. The European Union along with the local government has introduced various stringent guidelines mandating the use of NDT services to ensure employee & product safety. The region’s aerospace industry is currently in the growth phase with clearance of a huge backlog of existing aircraft orders. The aircraft giants, such as Boeing and Airbus, have a record backlog of over 12,000 new aircraft to be manufactured by 2025, generating numerous growth opportunities for the NDT service industry in the region.

Elaborating further on the leading position of Europe, it has also helped that the region’s aviation sector is on a roll with a clearance of a massive backlog of aircraft orders being concluded recently. To put things in perspective, prominent aircraft manufacturers such as Airbus and Boeing have a record backlog of more than 12,000 new aircraft that are to be manufactured by the year 2025, creating humongous growth opportunities for the Europe NDT services market in the forthcoming years.

Browse key industry insights spread across 300 pages with 422 market data tables & 31 figures & charts from the report, NDT services market in detail along with the table of contents:

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The owners & operators of infrastructure assets have to face a number of stringent government regulations and safety requirements. Failure to comply with these guidelines and standards can result in significant financial liabilities, increased scrutiny by the regulatory bodies, tarnished corporate brand value, and higher insurance premiums. The increasing number of industrial accidents, including explosions and fires, over the last decade has caused significant damages to the reputation of many companies. As a result, the infrastructural owners & operators are using NDT services to help them comply with the safety regulations.

Worldwide, assets of various business verticals are aging and the number of inspection regimes has witnessed an unprecedented uptick as safeguarding these assets is turning out to be a tough task. Invariably, the demand for agile inspection equipment has been intensifying lately. In this context, it is quite imperative to state that ultrasonic inspection testing is being regarded as one of the most prominent technology types among all the NDT services market. Some recent developments associated with the improvement of the NDT services – utilizing high-end technologies and research – are set to not only enhance the productivity levels but also add stealth to the ultrasonic inspection testing. Enumerated below are a few major instances that are a testimony to the significant research activities and increasing product ingenuity:

Considering the humble beginnings of the NDT services market, it is prudent to mention that drastic enhancements over the years have increased the usage of these services across numerous applications. This growth trajectory of the NDT service market is certain to continue in the coming years, as has been highlighted in the research report compiled by Global Market Insights, Inc. which claims that this business vertical would surpass a decent remuneration scale of about USD 4.5 billion by 2025.

The major players in the NDT services market are ALS Global Law & Accounting,Applus+,Bureau Veritas Italia,DEKRA,Eurofins Scientific SE,FPrimeC Solutions Inc.,Intertek Group PLC,Mistras Group, Inc.,NDTCCS,NDT Global,NIKON METROLOGY,NVI, LLC (Nondestructive Visual Inspection),PBS Velka Bites, a.s.,SGS ,TEAM, Inc.,TUV Nord,TÜV Rheinland Group,TÜV SÜD,Zetec.

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