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The global Non-Destructive Testing (NDT) market size is estimated to display strong growth by reaching USD 33.73 billion by 2030 with a CAGR of 11.5% during the forecast period. Fortune Business Insights™ in its report titled “Non-Destructive Testing (NDT) Market Size, Share & COVID-19 Impact Analysis, By Offering (Equipment and Service (Inspection Service, Training Service, Calibration Service, and Equipment Rental Service), By Method (Visual Inspection, Surface Inspection, Volumetric Inspection, and Others), By Technique (Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, Acoustic Emission Testing, and Others), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others), and Regional Forecast, 2023-2030” observes that the market size stood at USD 14.28 billion in 2022 and is expected to reach USD 15.78 billion in 2023. NDT finds out and evaluate any internal or external defects. It is widely used in manufacturing, aerospace, automotive, oil and gas, construction, power generation, and infrastructure.
Waygate Technologies and GE Aerospace Joined Forces for Joint Technology Development Agreement (JTDA) for Commercial Aircraft Engines
In May 2023, Waygate Technologies and GE Aerospace entered into a Joint Technology Development Agreement (JTDA) for Commercial Aircraft Engines. The collaboration is centered around the development of advanced solutions for remote visual inspection, leveraging artificial intelligence software to support Maintenance, Repair, and Operations (MRO) providers. The primary goal is to create next-generation tools and technologies that enhance the efficiency and effectiveness of visual inspections in the MRO industry.
Temporary Closures of Manufacturing Facilities and Distribution Networks during the Pandemic Affected the Market Growth
The COVID-19 pandemic impacted the supply chains affecting the availability and delivery of NDT equipment and services. This led to the temporary closures of manufacturing facilities and distribution networks. Delays in the production, shipping, and procurement of the equipment and supplies. Olympus Corporation and General Electric (GE) had a major impact on their business operations. Reduction in the demand from various industries, such as manufacturing, aerospace, automotive, and oil and gas, led to sharp decline for global NDT services and equipment. However, the pandemic drives the adoption of virtual training and certification and remote inspection technologies, such as Remote Visual Inspection (RVI) tools, drones, and robotic systems.
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Strict Rules and Regulations for Safety to Drive Market Growth
Strict rules and regulations for the safety are predicted to drive the market growth. Strict regulations by the governments and regulatory bodies for the protection of the public health and the environment. Industries are required to follow quality and safety standards to meet strict regulations. NDT methods play a crucial role in assisting industries to meet these regulatory requirements as they can identify defects in structures, pipelines, and other equipment.
However, Non-Destructive Testing techniques require personnel with good technical knowledge and practical experience to operate and evaluate equipment which may hamper the market growth.
Numerous Business Strategies to Drive the Market Development
The market has various key Non-Destructive Testing players such as Applus Services, S.A., Bureau Veritas SA, Commet Holding AG, Intertek Group PLC, Mistras Group, and others. The focus of these key market players has been on mergers & acquisitions, growing markets, technological progressions, and product innovations.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 11.5% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Offering, Method, Technique, Vertical, and Geography |
By Offering
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By Method
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By Technique
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| By Vertical
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By Geography |
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