At CAGR of 8.4%, Industrial Radiography Market is projected to reach US$ 993.45 Million by 2028: Exclusive Research by The Insight Partners

Industrial Radiography Market: Key Insights

According to our new research study on "Industrial Radiography Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technique (Film-based Radiography and Digital Radiography); End-User Industry (Manufacturing, Aerospace, Automotive and Transportation, Power Generation, Petrochemical and Gas, and Others)," the market is projected to reach US$ 993.45 million by 2028 from US$ 565.31 million in 2021; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.

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Innovative active interrogation approaches to identify threats to national security are required to protect a country's airports, borders, and ports. All detection approaches need a source of high-energy particles for inducing specific reactions that serve as major signatures in detecting fissile materials or conventional explosives. The most instant perceived threats and their essential materials comprise conventional explosives, special nuclear materials, mass destruction weapons, chemical agents, and contraband. The radiography technology can be utilized to scan cargo to guarantee that nothing is being smuggled into the country. The use of industrial radiography technology enables users to distinguish between different materials. Also, governments are investing significant amounts in border security by deploying the latest technologies at borders.

Unique physical properties of the X-rays and γ-rays allow them to penetrate various materials, such as carbon and steel, followed by exiting the same after traveling through. This property is used to inspect the defects in the metals and welding parts of the machines, thus ensuring the durability and safety of products. Further, radiography provides a non-destructive means of testing in industrial facilities. Radiography equipment is always sealed with a shield to protect users from radiation. Industrial radiography is performed with ionizing electromagnetic radiations for observation, evaluation, and analysis of subjects being tested. The rising applications of industrial radiography in the aerospace and automotive industries are driving the growth of the market growth. However, the higher costs of this equipment and concerns related to its harmful effects due to radiation exposures hinder the adoption of these devices. Rapid industrialization, coupled with increasing automation applications for testing machines in the industries, would provide lucrative opportunities for the players operating in the industrial radiography market during the forecast period.

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Growing Importance of Quality Control Drives Market Growth

Manufacturers are highly investing in quality control operations and equipment owing to the increasing competition across industrial sectors. Industrial radiography, which is a non-destructive testing method, is one of the major technologies that manufacturers are adopting significantly. Industrial radiography is a technique that uses ionizing radiation for identifying deviation in the component and materials X-rays and gamma-rays in this method. A few examples of defects are cracks, cavities, gaps, delamination, pores, shrinkage holes, slag inclusions, and looseness. The industrial radiography technique can be performed on types of materials with various densities. Also, the technique requires minimal surface preparation and can be performed on the surface and subsurface of objects to identity defects. Thus, it allows manufacturers to conduct quality checks of materials and components with the need to completely disassemble them and save a significant amount of time and human effort. Moreover, the industrial radiography system is adopted by end-users to perform periodic quality checks of machinery and equipment. Thus, owing to these factors, the industrial radiography market is experiencing growth.

Industrial Radiography Market: Competitive Landscape and Key Developments

3DX-RAY, Anritsu, Comet Group, Fujifilm Corporation, GENERAL ELECTRIC, METTLER TOLEDO, Nikon Corporation, NOVO DR LTD, SHIMADZU CORPORATION, and ZEISS International are among the major companies operating in the industrial radiography market.

Product development is the commonly adopted strategy by companies to expand their product portfolio. Anritsu Corporation, Comet Group, Fujifilm Corporation, GENERAL ELECTRIC, and METTLER TOLEDO are among the key players implementing strategies to enlarge their customer base and gain significant share in the global industrial radiography market, which, in turn, permit them to maintain their brand name. A few of the recent key developments are as follows:

• In 2021, ZEISS Applied Artificial Intelligence to 3D X-ray Microscope Reconstruction Technologies.

• In 2020, GE Healthcare launched a new AI suite to detect chest X-ray abnormalities, including pneumonia caused by COVID-19 and tuberculosis.

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