Nondestructive Testing Equipment and Services: Ultrasonic, Radiographic, Eddy Current and Others

Report Code: MFG016J

Publish Date: Dec 2023

Publisher: BCC Publishing

Category: Manufacturing

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Report Highlights

The global market for NDT equipment and services is estimated to increase from $31.3 billion in 2023 to reach $50.7 billion by 2028, at a compound annual growth rate (CAGR) of 10.1% from 2023 through 2028.

Report Includes

  • 92 data tables and 39 additional tables
  • An overview of the global market landscape related to the nondestructive testing equipment and services: ultrasonic, radiographic, eddy current and others
  • In-depth analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2025, and 2028. This analysis includes projections of Compound Annual Growth Rates (CAGRs) spanning through 2028
  • Evaluation of the current market size and revenue growth prospects specific to non destructive testing equipment and services, accompanied by a comprehensive market share analysis categorized by equipment type, service type, technique, application, and geographical region
  • An overview of the challenges that the industry is facing and a discussion on how to overcome them
  • Discussion on concepts, importance and life cycle assessment of the industry and information on training and NDT certification requirements and coverage of market regulations and standards
  • An analysis of pipeline products and ESG trends
  • Market share analysis of the key companies and coverage of their proprietary technologies, strategic alliances, and patent activity
  • Company profiles of the leading players including Thermo Fisher Scientific Inc., Smiths Group plc., Olympus Corp., General Electric Company., and Nikon Corp.

Report Scope

In this report, the market has been segmented based on types (equipment type and service type), application and geography. The report provides an overview of the global NDT equipment and services market and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for 2023-2028. Revenue forecasts for this period are segmented based on types (equipment type and service type), application and geography. Market values have been estimated based on the triangulation method using parameters such as the total revenue of NDT equipment and services providers, primary interview results and secondary white paper information.

The report covers the market for NDT equipment and services with regard to the application base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for NDT equipment and services in 2022 and provides projections for the expected market size through 2028.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $28.6 billion
Market size forecast $50.7 billion
Growth rate CAGR of 10.1% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Equipment Type, Service Type, Technique, Application, and Geographical Region
Regions covered North America, Europe, Asia-Pacific, South America, and Rest of World
Countries covered U.S., Canada, Mexico, France, Germany, U.K., Italy, China, India, Japan, Brazil, and Middle East and Africa
Key Market Drivers
  • Increase in demand from the oil and gas industry.
  • Rising demand from the aerospace industry.
Companies studied
NIKON CORP.3DX-RAY
ADVANCED INSPECTION TECHNOLOGIES INC.ADVANCED NDT LTD.
BRUKER AXS GMBHCARESTREAM HEALTH
COMET AGEDDYFI TECHNOLOGIES
GENERAL ELECTRICHOTTINGER BRÜEL & KJAER (HBK)
OLYMPUS CORP.RAPISCAN SYSTEMS
SHIMADZU CORP.SMITHS GROUP PLC
SPELLMAN HIGH VOLTAGE ELECTRONICS CORP.THERMO FISHER SCIENTIFIC INC.
TELEDYNE TECHNOLOGIES INC.
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Frequently Asked Questions (FAQs)

The market is projected to grow from $28.6 billion in 2022 to $50.7 billion in 2028 at a compound annual growth rate (CAGR) of 10.1% during the forecast period.
The NDT equipment and services market is segmented based on equipment types, service types, applications, and regions.
By equipment type, ultrasonic testing will dominate the market by the end of 2028.
North America holds the highest market share in the market in terms of region.
Key companies in the market include Thermo Fisher Scientific Inc., Smiths Group plc, Olympus Corporation, General Electric Company, and Nikon Corporation.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

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Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Nondestructive Testing Equipment and Services: Ultrasonic, Radiographic, Eddy Current and Others321Free
Chapter- 1: Introduction6Free
Chapter- 2: Summary and Highlights3Free
Chapter- 3: Market Overview27Free
Chapter- 4: Market Dynamics5Free
Chapter- 5: Market Breakdown by Segment123Free
Chapter- 6: Market Breakdown by Application37Free
Chapter- 7: Market Breakdown by Region34Free
Chapter- 8: Sustainability in the NDT Equipment and Services Industry: An ESG Perspective15Free
Chapter- 9: Patent Analysis9Free
Chapter- 10: M&A and Funding Outlook5Free
Chapter- 11: Competitive Landscape8Free
Chapter- 12: Company Profiles49Free
Published - Mar-2020| Analyst - Srinivasa Rajaram| Code - MFG016H

Report Highlights

The global nondestructive testing (NDT) equipment and services market should grow from $22.3 billion in 2020 to $34.1 billion by 2025 at compound annual growth rates (CAGR) of 8.9% for the period of 2020-2025.

Report Includes

  • 64 tables
  • An overview of the global market for nondestructive testing (NDT) equipment and services with emphasis on key NDT methods such as ultrasonic, radiographic, eddy current, acoustic emission, liquid penetration, magnetic particle, infrared thermal imaging etc.
  • Analyses of global market trends with data from 2018 to 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
  • Regional dynamics of the global NDT market covering key geographical regions, including North America, Europe, Asia-Pacific and other emerging economies (rest of the World)
  • Discussion of key NDT end-user markets and sales by the technologies used within each market
  • A look at the key NDT technologies, including their individual histories and application areas
  • Identification of companies best positioned to meet the high demand supply ration of NDT products and services
  • Patent analysis covering significant patent allotments
  • Company profiles of market leading players in NDT business, including Advanced OEM Solutions, Comet Technology Corp., FujiFilm Holdings Corp., Thermo Fisher Scientific Inc., and Williamson Corp.
Published - Jun-2017| Analyst - Srinivasa Rajaram| Code - MFG016G

Report Highlights

The global market for nondestructive testing (NDT) equipment and services reached $15.8 billion in 2016. This market should reach more than $17.2 billion in 2017 and $26.4 billion by 2022, at a compound annual growth rate (CAGR) of 8.9% through 2022.

Report Includes

  • An overview of the nondestructive testing (NDT) market.
  • Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022.
  • Identification of companies actively engaged in the development and manufacture of NDT equipment.
  • A look at key NDT technologies, including their individual histories and applications.
  • Discussion of key NDT end-user markets and sales by the technologies used within each market.
  • Relevant patent analysis.
  • Profiles of major players in the industry.
Published - Oct-2010| Analyst - Andrew McWilliams| Code - MFG016F

Report Highlights

  • The total U.S. market for nondestructive testing (NDT) technologies is valued at nearly $2.5 billion in 2010. This market is forecast at more than $2.3 billion in 2015, representing a compound annual growth rate (CAGR) of -0.9% between 2010 and 2015.
  •  Nondestructive testing techniques play a crucial role in the manufacturing sector. Preliminary data for 2010 indicate that the U.S. manufacturing sector is recovering. BCC estimates the 2010 market for manufacturing NDT equipment at about $422 million, or 2% more than in 2009. By 2015, the market will exceed $590 million, a 6.9% compound annual growth rate (CAGR) since 2010.
  • The U.S. aerospace industry purchased about $269 million worth of NDT equipment and supplies in 2009, a figure that is projected to decline to $265 million in 2010. By 2015, this sector is expected to be worth nearly $316 million, reflecting a compound annual growth rate (CAGR) of 3.6%.

Published - Nov-2006| Analyst - Andrew McWilliams| Code - MFG016E

Report Highlights

  • The U.S. nondestructive testing equipment market was worth some $2.2 billion in 2005, including baggage and cargo inspection systems that use NDT technologies. This market is projected to expand at an average annual growth rate (AAGR) of 5.1% between 2006 and 2011, growing from $2.3 billion in 2006 to nearly $3.1 billion in 2011.
  • Transportation security is by far the largest and one of the fastest-growing, markets for NDT equipment and supplies. Other major markets, in order of size, include manufacturing (particularly electronics), power generation, and chemicals/petrochemicals.
  • The NDT techniques expected to experience the fastest growth over the next 5 years are x-ray radiography, visual/optical/photonic inspection and infrared/thermal imaging.
Published - Nov-2003| Analyst - Patil Balaji| Code - MFG016D

Report Highlights

  • The U.S. nondestructive testing equipment market currently stands at $1,380 million and is projected to grow at an average annual growth rate (AAGR) of 5.1% reaching $1,769 million by 2008.
  • The NDT techniques expected to experience the fastest growth over the next 5 years are x-ray radiography and infrared and thermal imaging, driven by homeland security issues.
  • Transportation security currently makes up 32% of the market and is also the fastest growing application, with an AAGR of 7.1%.
  • Film-based radiographic testing, liquid penetrant, and magnetic particle testing are expected to continue their long-term decline, as they do not easily lend themselves to automation or computerization.

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Nondestructive Testing Equipment and Services: Ultrasonic, Radiographic, Eddy Current and Others
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