Market Highlights
Market Research Future (MRFR)’s analysis reveals that the global non-destructive testing market is poised to expand at a CAGR of 8% during the forecast period 2017 to 2023. Non-destructive testing services have gained quick mileage and are likely to keep gaining momentum in the near future owing to the towering demand for adhering to safety standards while upscaling quality and longevity of the machines.
The technologically advanced methods being introduced by the key players are expected to drive the growth of the non-destructive testing market over the next couple of years. The growth of the end-user industries such as oil & gas, aerospace, and defense, etc. is forecasted to reflect on the expansion of the global market through the assessment period.
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Competitive Dashboard:
Some of the prominent players profiled in the report are Bosello High Technology S.R.L. (Italy), MISTRAS Group, Inc. (U.S.), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), Olympus Corporation (Japan), SGS S.A. (Switzerland), Nikon Metrology, Inc. (U.S.), Ashtead Technology, Inc. (U.S.), Olympus Corporation (Japan), Sonatest Ltd. (U.K), and Fujifilm Holdings Corporation (Japan)
Market Segmentation:
By product, the global non-destructive testing market has been segmented into traditional non-destructive testing services and advanced non-destructive testing services.
By type, the non-destructive testing services market has been segmented into ultrasonic testing services, radiography testing services, liquid penetrant testing services, magnetic particle testing services, eddy-current testing services, and visual inspection services.
By application, the global non-destructive testing market has been segmented into flaw detection, leak detection, dimensional measurement, estimation of physical properties, chemical composition determination, and stress & structure analysis.
By vertical, the non-destructive testing services market has been segmented into aerospace & defense, automotive, oil & gas, infrastructure, and power.
Regional Analysis:
The global Non-Destructive Testing Services Market, by region, has been segmented into Asia Pacific, North America, Europe, and the Rest of the World. North America has secured the pole position in the global marketplace and is likely to dominate the market in the upcoming years. The U.S. and Canada are the most prominent country-level non-destructive testing services markets in the region. The technical brilliance of the industry leaders in the region is projected to expedite the expansion of the regional non-destructive testing services market. Europe is likely to retain the second spot owing to the strict safety standards set by the governing authorities in the region. Furthermore, the advancements in technology are also prognosticated to catapult the non-destructive testing market on an upward trajectory. Meanwhile, rapid industrialization and a strong economic growth rate have attracted investments in the non-destructive testing services market in Asia Pacific. The region signifiers tremendous potential through the forecast period.
Industry News:
In February 2019, Eddyfi Technologies, a global leader in advanced non-destructive testing (NDT) solutions, has announced the acquisition of Inuktun, an established developer of remotely operated crawlers and camera systems.
In February 2019, Element Materials Technology (Element), an independent provider of destructive and non-destructive testing services, has opened a new testing laboratory of 20,700-square-foot in Sheffield, U.K.
In January 2019, Spire Capital, a specialist in technology-enabled business services, has announced its investment in ERI Solutions, Inc. for venturing into testing, certification, inspection, and compliance (ticc) industry.
In January 2019, Penspen, a provider of project management services for the energy industry, has officially announced the opening of a new office in Bogota, Colombia followed by a two-year contract with a subsidiary of ECOPETROL, CENIT.
In January 2019, Sigma Labs, a provider of quality assurance software, has secured a Test and Evaluation Program contract with a service provider in additive manufacturing (AM).
In January 2019, Giatec Scientific, a pioneer in concrete testing equipment, has partnered with Redi-Mix, LLC, a business unit of U.S. Concrete, Inc.
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Intended Audience:
- Technology Investors
- Research/Consultancy firms
- Government Bodies
- Service Providers
- Information Technology (IT) developers
- Consulting service providers
- Technology Providers
- System integrators
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