Global non-destructive testing equipment market forecast to 2024


The global non-destructive testing (NDT) equipment market is expected to reach US$12,353.37 million by 2024, from US$6,700.00 million in 2016, at a compound annual growth rate (CAGR) of 8.1% in the forecast period from 2017 to 2024, according to a new report from Research and Markets.

The major factors driving the growth of this market are increased demand for remote visual inspection in aerospace, stringent safety guidelines and government protocols, high demand for automated NDT devices and the boost to the power industry by continuous investment in nuclear plants.

The key players for the non-destructive testing equipment market are: General Electric, Olympus Corporation, Fujifilm Holding Corporation, MISTRAS Group Inc, Pfinder KG, Nikon Corporation, Ashtead Group plc, Sonatest, Bosello High Technology srl, Magnaflux, Socomore and Zetec Inc.

In the report, the global non-destructive testing equipment market is segmented on the basis of equipment type, mode of testing, application, industry and geography.

Based on equipment type, the market is segmented into ultrasonic testing equipment, magnetic particle testing equipment, visual inspection equipment, radiography testing equipment, penetrant testing equipment, eddy current testing equipment, acoustic emission testing equipment and others.

Based on mode of testing, the market is segmented into surface testing, volumetric testing and condition monitoring and integrity inspection.

Based on application, the market is classified into flaw detection, leak detection dimensional measurement, physical analysis, chemical analysis, plasma emission testing, corrosion emission testing and others.

Based on industry, the market is classified into automotive, oil & gas, energy and power, aerospace and defence and others.

The report covers the present scenario and the growth prospects of the non-destructive testing equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of the web conferencing and unified communication and collaboration (UC&C) and video conferencing, secondary resources and through in-depth company share analysis of the major ten players in the market.

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