Press release
Non-destructive Testing (NDT) Equipment and Services Market Dynamics, Production Overview, Forecast, Competitive Analysis of OEM Solutions, Comet Tech Corp., Fujifilm Corp., Thermo Fisher Scientific Inc, Williamson Corp
Non-destructive Testing (NDT) Equipment and Services Market
Non-destructive testing (NDT) is needed whenever assurance is required of the integrity of the infrastructure. Aircraft, trains, pipelines, oil rigs, bridges and pressure vessels are examples of everyday things that are being regularly examined using NDT techniques. In addition to the need to ensure safety, NDT can be used to improve output and profitability.
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Furthermore, a component or an entire structure or machine can be tested many times using several types of tests through the complete life cycle to ensure its continued integrity. Components can be tested before they are finally shaped or while they are in service. This means that the continuing quality of components can be assured, such as checking railway lines, aero-engine turbine blades and the welds on a high-speed theme park ride.
Additionally, NDT methods can be employed to monitor the integrity of the structure through its useful life. These methods supplement other techniques, which can be applied without interruption to the normal operation of a structure or a machine. These techniques are known as condition monitoring. There is continuous progress in the development and application of NDT methods that are often used in conjunction with CAD and computer-based modelling to match the advances in new materials, component design and new products.
The market is expanding not only for NDT equipment but also the NDT services offered by numerous companies. Some of these companies also offer training in various NDT techniques to customers' engineers and also certify these engineers. The NDT service market is expanding very fast, especially when there is a shortage of trained and certified engineers.
The following summary table and figure illustrate the global market for NDT equipment and NDT services. The global market for NDT equipment and NDT services put together amounted to more than REDACTED in 2018. This market is expected to increase to over REDACTED in 2019 and to more than REDACTED in 2025.
The compound annual growth rate (CAGR) for the combined market for NDT equipment and NDT services is expected to be REDACTED over the five-year period from 2020 through 2025. The growth rate for the combined market for ultrasonic and infrared thermography NDT equipment is also expected to be REDACTED and the growth rate of the combined market for radiography and liquid penetrant NDT equipment is expected to be REDACTED, for the five-year period of 2020 through 2025.
While there is healthy growth in all the sectors of NDT equipment, the NDT services market is growing even faster, with a CAGR of REDACTED, for the five-year forecast period. This total NDT services market consists of NDT training services, and repair and calibration services for NDT equipment. The global market for these services has been worked out separately and can be found in Chapter 4.
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Report Includes
o 64 tables
o 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.
o Analyses of global market trends with data from 2018 to 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
o 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)
o Discussion of key NDT end-user markets and sales by the technologies used within each market
o A look at the key NDT technologies, including their individual histories and application areas
o Identification of companies best positioned to meet the high demand supply ration of NDT products and services
o Patent analysis covering significant patent allotments
o 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.
Table of Contents:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Technology Background
Chapter 4 Market Breakdown by Technology
Chapter 5 Market Breakdown by Application
Chapter 6 Patent Analysis and New Developments
Chapter 7 Analysis of Market Opportunities
Chapter 8 Company Profiles
Chapter 9 List of NDT Patents
Chapter 10 Appendix A: Manufacturers
Chapter 11 Appendix B: Glossary of NDT Terms and Their Abbreviations
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