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NDT Market to Exhibit 12.98% CAGR till 2028; Testia Unveils UE1 Box and U32 Box to Meet Various Technical Specifications

June 28, 2021 | Aerospace & Defense

The global non-destructive testing (NDT) market size is projected to grow from USD 6,300.0 million in 2021 to USD 14,800.0 million in 2028. The increasing adoption of ultrasonic testing tomography of rebar to get the highest accuracy in results is likely to affect growth positively. Fortune Business Insights™ presented this information in a 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 Forecasts, 2021-2028.” The report further states that the market stood at USD 7,160.0 million in 2020. It is set to exhibit 12.98% in the forecast period between 2021-2028.


NDT Global Integrates Halfwave Inspection Services to Get Hold of ART


In January 2021, NDT Global integrated Halfwave inspection services into its global business. The latter is a provider of an ultrasound-based technique named Acoustic Resonance Technology (ART) that enables high-precision measurements without the requirement of liquid couplant even under imperfect conditions. The ART would help the former to provide a competitive alternative to EMAT and MFL testing, as well as strengthen its position in the in-service gas pipeline segment. Such initiatives by major companies would drive the adoption of non-destructive testing across the globe.


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


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


Surging Usage in Oil & Gas and Power Sectors to Augment Growth


The oil and gas industry is one of the extensive users of non-destructive testing as it involves the inspection of external and internal corrosion of pipelines. Unique methods, such as ultrasonic inspection, magnetic particle inspection, liquid penetrant inspection, and visual inspections are used in this industry. Also, the power sector uses this testing method to inspect steam and gas turbines and pressure systems. However, the outbreak of the COVID-19 pandemic has resulted in the reduction of air passengers, economic recessions, and oil crisis. As per a 2020 report by Bloomberg, the aerospace industry in the U.S. lost around USD 190 million the same year. Such factors may hamper the NDT market growth in the upcoming years.


Key Companies Aim to Upgrade Portfolios by Investing in R&D Activities


The market houses a large number of organizations that are currently striving to launch state-of-the-art products to meet the rising demand. A few of them are also investing in R&D activities to enhance their product portfolios.  


Fortune Business Insights™ lists out the names of renowned non-destructive testing vendors present in the global market. They are as follows:



  • Acuren Inspection Inc. (The U.S.)

  • Ashtead Technology (The U.K.)

  • Bosello High Technology Srl (Italy)

  • Eddyfi (Canada)

  • Fischer Technology Inc. (The U.S.)

  • Fprimec Solutions Inc. (Canada)

  • General Electric (The U.S.)

  • Labquip NDT Limited (The U.K.)

  • LynX Inspection (Canada)

  • Magnaflux Corporation (The U.S.)

  • Mistras Group (The U.S.)

  • NDT Global GmbH & Co. Kg (The U.S.)

  • Nikon Metrology (Japan)

  • Olympus Corporation (Japan)

  • Sonatest Ltd. (The U.K.)

  • TD Williamson, Inc. (The U.S.)

  • YXLON International GmbH (Denmark)


A Significant Industry Development-



  • December 2020: Testia introduced its latest acquisition systems portfolio. It includes the phased array U32 Box and multi-method UE1 Box. These are capable of fulfilling various inspection goals and meet numerous technical specifications. The user can easily control these boxes through its software solution.


Further Report Findings-



  • In 2020, North America held USD 2,759.2 million in terms of revenue and is anticipated to lead the market throughout the forthcoming years. The high demand for advanced material testing, especially from Mexico, Canada, and the U.S. is set to propel growth. Also, the presence of renowned NDT companies in the U.S., namely, Fischer Technology Inc., Magnaflux Corporation, and Acuren Inspection Inc. would aid growth.

  • In Asia Pacific, the market is estimated to showcase the fastest growth on account of the expansion of the power generation sector, mainly in China and India. Besides, the ongoing developments in the domestic manufacturing industry in Japan would contribute to this region’s growth.

  • By techniques, the ultrasonic testing (UT) segment held 27.23% in terms of the NDT market share in 2020. This growth is attributable to its surging adoption in a wide range of applications, such as weld inspection, mapping, pipeline corrosion, and composites.


The global market can be segmented in this way:














































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Million)



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, Method, Service, Vertical and Country)



      • The U.S. (By Technique)

      • Canada (By Technique)

      • Mexico (By Technique)





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



      • The 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, Method, Service, Vertical and Country)



      • China (By Technique)

      • India (By Technique)

      • Japan (By Technique)

      • Rest of Asia-Pacific (By Technique)





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



      • Latin America (By Technique)

      • The Middle East & Africa (By Technique)






Global Non-destructive Testing (NDT) Market
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