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The global ultrasonic testing market size is projected to reach USD 3,671.9 million by 2027 owing to the growing adoption of advanced flaw detection technologies in aircraft manufacturing, observes Fortune Business Insights™ in its report, titled “Ultrasonic Testing Market Size, Share & COVID-19 Impact Analysis, By Type (Time-Of-Flight Diffraction, Phased Array, Immersion Testing, Guided-Wave Testing, Acoustography, and Others) By Equipment (Flaw Detectors, Thickness Gauges, Transducers & Probes, Industrial Scanners, Tube Inspection Systems, Bond Testers, Imaging Systems, and Others), By Service (Inspection Services, Equipment Rental Services, Calibration Services, and Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others) and Regional Forecast, 2020-2027”. As per the report, the global market value stood at USD 2,297.2 million in 2019 and the market is expected to register a CAGR of 9.43% from 2020 to 2027.
The COVID-19 pandemic has proved catastrophic for the aviation industry as lockdowns, social distancing, and travel restrictions have rapidly diminished the demand for air travel worldwide. Furthermore, supply chain disruptions and a general slowdown in the global economy has severely impacted the medium-term investment plans of airline companies. Combined, these factors will lead to a negative growth of -14.9% of the market and decline the market value to USD 1,954.4 million in 2020.
Zetec Launches Inventive Solution for Ultrasonic Testing
Zetec, the US-based non-destructive testing (NDT) specialist, announced the launch of a hand-operated 2D encoded scanner for ultrasonic testing (UT) for the aerospace industry in August 2019. Named the NDT Sweeper Scanner, the solution is embedded with two integrated encoders to ensure accurate 2D scanning, proving C-Scan mapping of large components. Furthermore, the NDT device has been configured to mount up to two phased array probes simultaneously for pitch-catch ultrasonic inspections. Even more importantly, the NDT scanner is lightweight and compact and has been designed to map hard-to-reach areas, abilities which make it ideal for performing ultrasonic inspections in wide-ranging applications.
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Development of Advanced UT Solutions for the Rail Industry to Feed Market Growth
With the increasing complexity of rail operations worldwide, the demand for advanced testing technologies has escalated in recent times. These technologies are principally aimed at minimizing railroad accidents, which can even be avoided with the efficient use of modern ultrasonic type of testing solutions. To cater to these rising testing needs in the rail industry, some leading companies have developed cutting-edge UT solutions to enhance the safety quotient of railways. For example, the French railroad major, Pandrol, has developed an ultrasonic rail testing mechanism that utilizes high-pitched waves to detect flaws in rails. In addition, the company also manufactures and sells ultrasonic inspection equipment and provides training services tailored to customer needs. Another prominent example is Eddyfi’s phased array ultrasound or PAUT. The array has been engineered to allow inspectors to angle the wave-beam in different directions, amplifying its radius, and identify defects that may have been missed during fixed-angle testing. The development and introduction of such game-changing UT technologies will ensure an enduring growth trajectory of this market.
High Investments in Innovation by Key Players to Bolster Market Outlook
Top participants in this market are making focused investments to augment their innovation potential. These investments will allow companies to create novel UT solutions and capture a larger market share as well as elevate the profitability of their ventures. A diversified portfolio will also attract customers from varied industry verticals, further entrenching the position of the key players and fueling the ultrasonic testing market growth in the process.
List of Key Players Covered in this Market Report:
Further Report Findings:
Table of Segmentation
Value (USD million)