Non-destructive Testing (NDT) in the Aerospace and Defense  Market Size 2021 by Company, Product introduction, Sales Volume, Revenue, Price, Gross Margin and Forecast to 2026

Non-destructive Testing (NDT) in the Aerospace and Defense Market Size, Status And Forecast 2021-2026

The non-destructive testing market was valued at USD 2855.8 million in 2020 and is expected to register a CAGR of 10.4% during the forecast period (2021-2026), to reach USD 5167.33 million by 2026.

Non-destructive Testing (NDT) in the Aerospace and Defense market research report adoption is becoming very essential for the businesses as it supports with the better decision making and revenue generation. The Non-destructive Testing (NDT) in the Aerospace and Defense market prioritizing goals and profitable market business. Today’s businesses call for the highly focused and detail-oriented information about the Non-destructive Testing (NDT) in the Aerospace and Defense Market so that they get a clear idea about the market landscape and gives businesses clear idea of what is already available, what the Non-destructive Testing (NDT) in the Aerospace and Defense market expects, and what can be done to outshine the market competitors.

Key Companies: Mistras Group, Fujifilm NDT Systems, GE Measurement and Control, NikonMetrology Inc., Magnaflux Corporation, Olympus Corporation, SGS Group, Intertek Group PLC, Applus Services, SA, Yxlon International GmbH, Team, Inc., Tüv Rheinland Ag, Gould-Bass Co., FLIR Systems, Inc. and among other domestic and global players. 

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“COVID-19 can affect the global economy in three main ways: by directly affecting Non-destructive Testing (NDT) in the Aerospace and Defense production and demand, by creating supply chain and market disruption, and by its financial impact on Non-destructive Testing (NDT) in the Aerospace and Defense firms and financial markets.”

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A brief introduction to the Non-destructive Testing (NDT) in the Aerospace and Defense market research report.
Top players in the Non-destructive Testing (NDT) in the Aerospace and Defense market with their revenue analysis.
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Example pages from the Non-destructive Testing (NDT) in the Aerospace and Defense market report.

Key Market Trends On Non-destructive Testing (NDT) in the Aerospace and Defense -

Radiography Testing Technology to Account for the Largest Share

- Radiography is one of the versatile testing methods in non-destructive testing, which is used for the detection of surface and subsurface features in welded parts and castings. Radiography employs highly penetrating X-rays produced by X-ray tube, gamma rays by a radioactive isotope, and other forms of radiation for testing without causing any damage to the product.

- It enables product reliability, providing the information to prevent accidents and saves lives in industries. It is also used for corrosion mapping, detection of blockages inside sealed equipment, testing of semiconductor devices for cracks, broken wires, unsoldered connections, detection of reinforcing the material in concrete slabs and measuring bulk density of materials.

- The use of computed radiography in the aerospace and defense industry provides significant cost savings when compared to other testing methods as it eliminates the external costs. As economic justification is a major criterion for any testing method, the radiography testing range in size from microminiature electronic parts to massive missile components used in the aerospace and defense industry.

Competitive Landscape On Non-destructive Testing (NDT) in the Aerospace and Defense-

The competitive rivalry between various firms within the market is dependent on the competition (price, product or market share), and the intensity with which they compete in the market.

- In the NDT equipment market, incumbents such as GE, YXLON International, and Olympus hold the largest market shares. They have a strong influence on the market in terms of their R&D and consolidation activities.

- The exit barriers in this market are due to the high costs involved in operations. Firm concentration ratio has been forecasted to grow steadily over the reporting periodHowever, these firms have greater access to funds and R&D operations.

- As stated earlier, there has been a growing trend of forwarding the integration of operations by market players in a bid to capture more value within the market. Some of the key players in non-destructive testing (NDT) in the aerospace and defense market are Olympus, Nikon, and GE.

Non-destructive Testing (NDT) in the Aerospace and Defense Market Scenario:

Non-destructive Testing (NDT) in the Aerospace and Defense market is expected to gain market growth in the forecast period of 2021 to 2026. According to MarketInsightsReports Research’ The non-destructive testing market was valued at USD 2855.8 million in 2020 and is expected to register a CAGR of 10.4% during the forecast period (2021-2026), to reach USD 5167.33 million by 2026. The Asia-Pacific region has approximately 66.40% of the major share in 2019.Growing demand of the Non-destructive Testing (NDT) in the Aerospace and Defense for industrial applications, industry will accelerate huge market growth especially in Non-destructive Testing (NDT) in the Aerospace and Defense industry in terms of (Revenue USD), Market Drivers, and Market Restraints. Market report research and development activities, product launches in the Market helps to identify opportunities in market place.

Regional Analysis On Non-destructive Testing (NDT) in the Aerospace and Defense-

Europe to Account for Significant Share

- The European aerospace and defense industry is mainly dominated by the United Kingdom, France, Germany, and Italy, while Russia is also a large player in the international market landscape.

- In 2016, the UK aerospace production output is observed to be grown by 39% since 2011, with annual turnover reaching nearly USD 43 billion.

- Exports generate nearly 90% of aerospace turnover. The sector achieved exports of nearly USD 37.41 billion in 2016 and looked for success in overseas markets to drive further growth, and there are few uncertainties are expected with the exit from the European Union.

- The United Kingdom is investing money in new Joint Force 2025, comprising of a Land Force of 112,000 equipped with digital armored vehicles, an Air Group upgraded with more Typhoons and fifth generation F35s; and a Maritime Task Group made up of destroyers, frigates, and two mighty carriers  claimed to be the most powerful ships ever built in Britain.

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Market Segmentation : Non-destructive Testing (NDT) in the Aerospace and Defense

Market Trends and Opportunities -

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The research includes historic data from 2016 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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