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Non-Destructive Testing Market will Reach USD 21.6 Bn in 2026

07-02-2021 02:37 PM CET | Industry, Real Estate & Construction

Press release from: AllTheResearch

The global non-destructive testing market was valued at USD 11.5 billion in 2018 and is expected to reach USD 21.6 billion in 2026, growing at a CAGR of 8.2% during the forecast period. Non- destructive testing plays a vital role in assuring that mechanical and structural components perform their function in a safe, reliable, and cost-effective manner. The non-destructive testing comprises of a wide range of analytical techniques that are applicable to a wide range of industries. These analytical techniques help in inspecting, identifying fault without interrupting the process.

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The manufacturing industry has been home to substantial activities in the past few years aiming new advancements based on AI. Quality control is endemic in almost every industry, be it automotive or pharmaceutical. Many factories have deployed automated solutions in every sight, ranging from injection moulding to assembly, by using Kuka and Fanuc robotic arms. However, quality control is still an enormous challenge due to its dependency on human-level visual understanding along with the adaptation to constantly changing products and conditions. Moreover, many factories resort to hiring workers to perform this quality check step, which in turn, takes time and cost in training and testing.

AI, on the other hand, can easily work for 24 hours a day and seven days a week, which offers an advantage for test execution as often as required and at minimal cost (except the initial capital investment). Owing to such benefits, the researchers from top companies and institutions are developing a myriad of techniques that can improve automation. One such technology in AI is computer vision aided by convolutional neural networks (CNNs). CNNs has the capability to automatically learn the differentiation between good parts from not good parts on an assembly line with comparatively better speed. With a good AI product devoted to quality control, and training images that depict good parts and not good parts, quick training can be provided to CNN. This can be referred to as an incredible solution for high-mix environments, in which the products are constantly changing, and time is equally valuable. For instance, in the optics industry, CNNs can quickly respond to a range of lens properties that in turn prevent errors and downtime.

In August 2017, Infosys stated in its report that machine learning is adopted by nearly 75% of manufacturing companies as a factor for transformation, and around 57% of companies adopted AI for the management of cognitive tasks. The company further stated that AI has the capability to reinforce the existing infrastructure, which enables the identification of faults and mistakes that possibly weakens the production chain and quality of products. Machine learning and deep learning algorithms are continuously contributing to the growing automation of quality control in production chains, which considerably reduces the number of faulty parts, and the high costs resulting from them.

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Key Findings:

Based on the type, the ultrasonic testing segment in non-destructive testing market is expected to grow at the highest CAGR of around 10.5% during the forecast period.
Based on vertical, the manufacturing segment accounted for around 34% share in the global non-destructive testing market in 2018.
Asia Pacific dominated the global non-destructive testing market in 2018 and expected to grow at a significant rate and further contributing towards the growth of the non-destructive testing market.
Recent News:

In February 2019, Olympus, Japanese optics and reprography products manufacturer, launched IPLEX G Lite ultra-portable industrial video scope for easy and fast visual inspections in aircraft engines and piping.
In January 2018, Avitas System, a BHGE venture, announced its collaboration with Limelight Networks, an American company providing content delivery network service, for using its distributed cloud infrastructure and private network to deploy its next-gen automated inspection platform.

[4:51 PM] Poonam Falmari

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AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realize, that it's not just sheer data points, but the right analysis that creates a difference. While some clients were unhappy with the inconsistencies and inaccuracies of data, others expressed concerns over the experience in dealing with the research firm. Also, same-data-for-all-business roles were making research redundant. We identified these gaps and built AllTheResearch to raise the standards of research support.

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