The volumetric inspection market has a share of over 50% of the global non-destructive testing (NDT) service market. The increasing use of raw and lower quality raw materials, especially in the oil & gas industry, and the introduction of advanced manufacturing processes in various business areas encourage the use of volumetric inspection services. The surface inspection market is expected to grow at an annual growth rate of over 6% as the pressure on manufacturing operations increases to reduce the number of external defects and imperfections. Surface inspection services have been largely adopted in the aerospace industry due to the need to perform maintenance on & over short periods of time.
The increasing number of infrastructural developments and the emergence of various security policies have numerous opportunities for expanding the market for non-destructive x-ray inspection (NDT) created. The technology is widely used in the aerospace and automotive sectors to manufacture high-tolerance components. High implementation costs related to the technology and the lack of qualified specialists limit its use in certain industries.
Europe is the leader in the market for non-destructive testing (NDT) with a share of over 30% in 2018. The market is mainly driven by the increasing number of collaborative initiatives from actors operating in the region and the existence of various government guidelines for performing services. The Asia-Pacific market is expected to grow in excess of 10% over the forecast timeframe due to widespread industrialization and adoption of security policies. The growing demand for wealth management services in the region is leading foreign players to take advantage of various growth opportunities in countries such as China, India and Japan. The lack of qualified inspectors and the high cost of NDT services limit their use in certain sectors.
The aerospace industry is expected to grow at a CAGR of over 6% over the forecast period as NDT services are an economic one Provide &-efficient solution for high-volume production of aerospace components. The services provide an effective way to identify internal & surface imperfections throughout the component operating life cycle.
The oil & gas industry held over 25% of the market sales for non-destructive testing (NDT) in 2018. The services ensure the mechanical & structural integrity of the infrastructure and equipment used in oil & gas rigs through continuous monitoring to avoid disaster failures.
Ultrasonic inspection services made in the non-destructive testing (NDT) service market in 2018 ) account for over 30% of sales. The implementation of advanced technologies and infrastructural developments in numerous production facilities encourage the use of ultrasonic inspection services. The phased array test market is expected to grow exponentially as it eliminates the need to shut down factory operations due to exposure to radioactivity and increase productivity. The radiography market is expected to show a growth rate of over 5% over the forecast period.
The increasing costs for & in connection with the establishment of new infrastructures have resulted in a significant aging of the existing organizational structure. This has led companies to look for new ways to extend the life cycle of their existing infrastructure. Due to the high costs associated with repairing &, maintaining existing infrastructure, and the need for more extensive frequent & test services, private & public institutions are investing more in advanced asset protection services to ensure the operational & structural integrity of their infrastructure.
The operators and owners of infrastructure facilities are constantly confronted with several strict guidelines & security standards. Failure to follow these guidelines can result in significant financial liabilities, higher insurance premiums, compromised brand equity, and regulatory scrutiny. The increasing frequency of industrial accidents such as explosions and & fires over the past decade has caused significant damage to the reputations of various companies. This has led infrastructure operators and owners, along with their associated stakeholders, to invest in various advanced asset management services such as NDT to help protect their infrastructure and comply with various safety regulations.Some of those in the non-destructive testing services market ( NDT) companies are Applus, ALS, Dekra, Mistras Group, SGS, TÜV Rheinland, Zetec, NDT Global, Nikon Metrology, NVI, Intertek, Bureau Veritas and TÜV Nord. Key players in Europe and North America are focusing on various inorganic growth initiatives to expand their presence in high potential markets. For example, in April 2017, Applus acquired Emilab, an electrical and electronic testing service provider. This acquisition will allow Applus to expand its global presence in high technology sectors.
Rahul Varpe is currently a contributor to Technology Magazine. Rahul is a trained communications engineer and began his career as a freelance writer alongside regular jobs. Rahul already has experience in writing and marketing services and products …
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