Non-destructive Testing (NDT) market was valued at USD 8.5 billion by 2021-end and is expected to reach a value of USD 15.2 billion by 2031, at a CAGR of 6% during the forecast period 2021-2031. The manufacturing sector is expected to account for 20% of the NDT revenue. As per Fact.MR – a market research and competitive intelligence provider, during the historic period 2016-2020, the market expanded at a CAGR of 4%. Economies across the globe are investing in cost-effective and energy-efficient testing of public infrastructure and aerospace & defense instruments. There is a lack of technical expertise among non-destructive testing inspectors in the market.
The demand for nondestructive testing (NDT) has been steadily increasing in recent years due to the growing emphasis placed on safety and quality assurance. NDT is an important tool for various industries, ranging from aviation to food production, automotive, and more. This growth is driven by the increasing focus on quality assurance and safety in industries, rising demand for advanced NDT techniques, and the increasing adoption of advanced technologies such as artificial intelligence, robotics, 3D printing, and others. Additionally, the growing demand for NDT services from the aerospace and defense industry is also expected to drive the market.
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The following insights and assessments are worth knowing for market participants and help to ascertain the general dynamics and future trajectory of the Non-Destructive Testing market. These are some of the opportunity estimates in various segments. Additional new opportunities have turned the Non-Destructive Testing market into a fragmented landscape, with more entry-level players entering the market due to lower investment barriers.
major companies
- general electric company
- Nikon Metrology NV
- Olympus Corporation
- Zetec Co., Ltd.
- Edify Technologies Co., Ltd.
- Fisher Technologies Co., Ltd.
- Ashted Technology Co., Ltd.
This report covers an in-depth analysis on:
- Market segment
- market dynamics
- Market size and demand
- Current Trends/Problems/Challenges
- Competition and related companies
- technology
- value chain
Competitive Landscape
The competitive landscape of the non-destructive testing market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
- In May 2021, Nikon Metrology’s industrial micro focus X-ray CT inspection solutions announced a new offset CT reconstruction algorithm to deliver unrivaled scan speed and image resolution. When using X-ray CT for non-destructive quality control of larger components like aluminum castings or battery modules for electrical vehicles, the challenge is to shorten inspection cycle times without compromising resolution
- In August 2021, Eddyfi Technologies/NDT announced the initiation of a definitive agreement to acquire Zetec, a subsidiary of Roper Technologies Inc. Expected to close by the year-end, the acquisition will permit Eddyfi to extend their market coverage through innovation and a customer-focused approach
Key Segments Covered
- Application
- NDT Services
- NDT Equipment
- Test Method
- Visual Testing
- Magnetic Particle Testing
- Liquid Penetrant Testing
- Eddy Current Testing
- Ultrasonic Testing
- Radiographic Testing
- End Use
- Oil & Gas
- Manufacturing
- Aerospace & Defence
- Construction
- Automotive
- Power Generation
- Other End Uses
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa