Non-Destructive Testing Equipment Market 2019: Competitor Analysis by Baker Hughes a GE company LLC, Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV, SGS Group, SGS SA, Fujifilm H

Global Non-Destructive Testing Equipment Market is valued at an estimated USD 7,901.95 million in 2018, and this value is projected to rise to USD 15,288.79 million by 2026, undergoing with a CAGR of 8.60% in the forecast period of 2019-2026. Most of the Non-Destructive Testing market is dependent on the Oil & Gas market and the Aerospace & Defence sector. The NDT market has been affected several times by the recent fluctuations in the crude Oil prices, which is rendering loss to most players in the market.

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Key Market Competitors:

Few of the major competitors currently working in the Global Non-Destructive Testing Equipment are Baker Hughes a GE company LLC, Olympus Corporation, YXLON International, MISTRAS Group, Inc. , Zetec Zetec,Inc., FOERSTER Holding GmbH, Nikon metrology NV, SGS Group,SGS SA, Fujifilm Holdings Corporation, Bureau Veritas S.A., Acuren, NDT Global, Cygnus Instruments Inc., Magnaflux, Eddyfi, Bosello High Technology srl, T.D. Williamson, Inc., Sonaspection, LynX Inspection , 5 RESEARCH DRIVE, SHELTON, CT 06484, Fischer Technology, Inc.and others.

Key Developments in the Market:

• In January 2018, Avitas Systems, a GE Venture, collaborated with Limelight Networks, Inc. for using its private network and distributed cloud infrastructure. Avitas Systems Platform also utilizes GE’s containerized Predix Edge solution, allowing users to continue to benefit from the use and functionality of GE’s Predix application services suite.

• In May 2018, Olympus Corporation introduced IPLEX G Lite industrial videoscopea, useful to capture images inside aircraft engines, piping, and other equipment without the need for disassembly. The new videoscope will be exhibited at the Automotive Engineering Exposition.

Market Definition:

Non-Destructive Tests does not affect the future usefulness of the object being tested, hence its name –Non Destructive. NDT Market and inspection is an extremely valuable technique for timely evaluation and diagnosis of faults in products. It is also used for detecting faults and veracity in industrial assets and public infrastructures. NDT is also used to detect faults and structural integrity in industrial assets and public infrastructures.

Market Drivers:

• Remote visual inspection in aerospace increases demand

• Stringent safety guidelines and government protocols

• Automated NDT devices expected to see most demand and the power industry is boomed by continuous investment in nuclear plants.

• The growing need for extending the life of obsolete infrastructure

Market Restraints:

• Lack of skilled equipment operators

• High cost of NDT Equipment

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Segmentation:

By Technique

• Ultrasonic Testing (UT)
• Visual Inspection Testing
• Magnetic Particle Testing (MPT)
• Liquid Penetrant Testing (LPT)
• Eddy Current Testing (ECT)
• Radiographic Testing (RT)
• Acoustic Emission Testing (AET)
• Others

By Methods

• Visual Inspection
• Surface Inspection
• Volumetric Inspection
• Others

By Service

• Inspection Services
• Equipment Rental Services
• Calibration Services
• Training Services

By Verticles

• Manufacturing
• Oil & Gas
• Energy & Power
• Aerospace & Defence
• Public Infrastructure
• Automotive & Transportation
• Power Generation
• Others

By Geography

• North America
• South America
• Europe
• Asia-Pacific
• Middle East and Africa

Competitive Analysis:

Global Non-Destructive Testing Equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Non-Destructive Testing Equipment market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Insights in the report:

• Competitive analysis of key competitors involved in the market

• Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026

• Market drivers and restraints analysis along with the analysis of the market structure

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