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Non-Destructive Testing (NDT) Market to Register a Growth of 13.66% CAGR During 2022-2029; Increasing Demand for NDT Among Aerospace to Assist Growth

May 20, 2022 | Aerospace & Defense

The global non-destructive testing (NDT) market size reached USD 6.30 billion in 2021. The market value is estimated to increase from USD 6.80 billion in 2022 to USD 16.66 billion in 2029 at a CAGR of 13.66% in 2022-2029. This information is published by Fortune Business Insights™, in its report titled, “Non-Destructive Testing (NDT) Market Size, Share & COVID-19 Impact Analysis, By Technique (Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, and Acoustic Emission Testing), By Method (Visual Inspection, Surface Inspection, Volumetric Inspection, and Others), By Service (Ultrasonic Inspection, Equipment Rental Services, Calibration Services, and Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others), and Regional Forecast, 2022-2029”


Global Financial Ripples to Cause Hindrances in Market Growth During COVID-19


The COVID-19 pandemic caused severe financial impacts on the sector of non-destructive testing. Imposed lockdowns led to major hampering of the aviation sector, which NDT relies upon heavily for generating revenue. According to the International Bank for Reconstruction and Development (IBRD), 4.3 million air passengers were ferried globally.


However, this count was severely hampered due to the ban on international traveling. Disruptions in supply chains led to declining deliveries of aircraft, further impacting the market in a negative manner.


Testia Uncovers its Latest Software Development for Inspection


Testia launched its latest software development kit – the UE1 Box and phased array U32 Box. These developments are intended to meet a wider range of technical specifications to meet various types of inspections encompassed within the same device. These devices are aimed at finding cost-effective and reliable platforms for training their workforce conducting experiments and tabulating outcomes.


The UE1 Box allows ultrasonic testing (UT) and eddy-current testing (ET) by integrating advanced functions, including boring holes with the aid of rotary probes/resonance data acquisitions in one device. These devices are completely suitable for testing any materials by means of detection, identifying material characteristics, and analyzing thickness.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/non-destructive-testing-ndt-market-103596


Rising Demand for NDT Services & Increasing Requirement from Aerospace Sector to Augment Growth


Widening applications for NDT technology toward inspections of pipes, valves, storage vessels, and welds along with rising availability of testing methods will boost the non-destructive testing (NDT) market growth during the forecast period. Increasing demand from oil & gas, automotive, and the power industry will increase the footprint of the market.


Rising demand from the aerospace sectors regarding maintaining decent strength, structure, and quality of materials will fuel the growth of the market. According to Oliver Wyman, the global fleet maintenance, repair, and overhaul market was valued at USD 81.9 million in 2019 and will rise to USD 116 million by 2029.


Notable Industry Development:



  • October 2020: Novosound announced the launch of its new & advanced NDT product series, Kelpie, Belenus, and Nebula. These product series are aimed at improving NDT inspection services by reducing downtime in various sectors including energy, oil & gas, aerospace, and renewables.


List of Players in the Market:



  • Acuren Inspection Inc. (U.S.)

  • Ashtead Technology (U.K.)

  • Bosello High Technology Srl (Italy)

  • Eddyfi (Canada)

  • Fischer Technology Inc. (U.S.)

  • Fprimec Solutions Inc. (Canada)

  • General Electric Company (U.S.)

  • Labquip NDT Limited (U.K.)

  • LynX Inspection (Canada)

  • Magnaflux Corporation (U.S.)

  • Mistras Group (U.S.)

  • NDT Global GmbH & Co. Kg (U.S.)

  • Nikon Metrology (Japan)

  • Olympus Corporation (Japan)

  • Sonatest Ltd. (U.K.)

  • TD Williamson, Inc. (U.S.)

  • YXLON International GmbH (Denmark)


Further Report Findings:



  • The ultrasonic testing segment will witness a dominant share during the forecast period due to rising usage of NDT techniques in widening applications, including composites & pipelines corrosion, mapping, wielding inspections, and general screening of the pipe.

  • North America will occupy the largest non-destructive testing (NDT) market share owing to increasing demand for advanced material testing from emerging economies including the U.S., Canada, and Mexico. Additionally, the presence of dominant players, such as Fischer Technology Inc., Magnaflux Corporation, and Acuren Inspection Inc., will further propel the growth of the market in the region.


Table of Segmentation:


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



By Technique



  • Ultrasonic Testing

  • Visual Inspection Testing

  • Magnetic Particle Testing

  • Liquid Penetrant Testing

  • Eddy-Current Testing

  • Radiographic Testing

  • Acoustic Emission Testing



By Method



  • Visual Inspection

  • Surface Inspection

  • Volumetric Inspection

  • Others



By Service



  • Ultrasonic Inspection

  • Equipment Rental Services

  • Calibration Services

  • Training Services



By Vertical



  • Manufacturing

  • Oil & Gas

  • Aerospace

  • Public Infrastructure

  • Automotive

  • Power Generation

  • Others



By Geography



  • North America (By Technique, By Method, By Service, By Vertical, and By Country)

    • U.S. (By Technique)

    • Canada (By Technique)

    • Mexico (By Technique)



  • Europe (By Technique, By Method, By Service, By Vertical, and By Country)

    • U.K. (By Technique)

    • Germany (By Technique)

    • France (By Technique)

    • Italy (By Technique)

    • Russia (By Technique)

    • Rest of Europe (By Technique)



  • Asia Pacific (By Technique, By Method, By Service, By Vertical, and By Country)

    • China (By Technique)

    • India (By Technique)

    • Japan (By Technique)

    • Rest of Asia Pacific (By Technique)



  • Rest of the World (By Technique, By Method, By Service, By Vertical, and By Country)

    • Latin America (By Technique)

    • The Middle East & Africa (By Technique)




Global Non-destructive Testing (NDT) Market
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  • 2021
  • 2018-2020
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