- 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%.
- Provide an overview of NDT technologies.
- Identify companies actively engaged in the development and manufacture of NDT equipment.
- Assess new developments by analyzing recent patents granted for NDT-related technologies.
- Identify technological and business issues that will impact the NDT industry.
- Provide an understanding of the market and technology so decision-makers will be able to evaluate and consider opportunities within this market.
- NDT equipment manufacturers and users
- Research and development firms
- Government and private laboratories
- Investment and financial executives
- Others interested in this technology
- Acoustic emission
- Eddy current
- Infrared and thermal testing
- Liquid penetrant
- Magnetic particle
- Visual/optical testing
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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.
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.