Global Non-Destructive Testing (NDT) Market

Non-Destructive Testing (NDT) Market Size, Share, Growth Analysis, By Technique(Ultrasonic Testing, Visual Inspection Testing), By Method(Visual Inspection, Surface Inspection), By Service(Ultrasonic Inspection, Equipment Rental Services), By Vertical(Manufacturing, Oil & Gas) - Industry Forecast 2024-2031

Report ID: SQMIG20B2009 | Region: Global | Published Date: February, 2024
Pages: 245 | Tables: 127 | Figures: 75

Non-Destructive Testing (NDT) Market Competitive Landscape

The global non-destructive testing market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.

Top Players in the Global Non-Destructive Testing Market

  • Fujifilm Holdings Corporation
  • Mistras Group, Inc.
  • Zetec Inc.
  • Ashtead Technology Ltd.
  • Nikon Corporation
  • Eddyfi Technologies Inc.
  • Sonatest Ltd.
  • Magnetic Analysis Corporation
  • Yxlon International GmbH
  • Comet Group
  • Fischer Technology Inc.
  • T.D. Williamson, Inc.
  • ZK Inspection Group Co., Ltd.
  • Bureau Veritas S.A.
  • Intertek Group plc
  • MFE Enterprises, Inc.
  • Acuren Inspection, Inc.
  • NDT Global GmbH & Co. KG

Non-Destructive Testing (NDT) Market

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Non-Destructive Testing (NDT) Market size was valued at USD 18.3 billion in 2019 and is poised to grow from USD 19.09 billion in 2023 to USD 34.2 billion by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).

Top Players in the Global Non-Destructive Testing Market 'Fujifilm Holdings Corporation', 'Mistras Group, Inc.', 'Zetec Inc.', 'Ashtead Technology Ltd.', 'Nikon Corporation', 'Eddyfi Technologies Inc.', 'Sonatest Ltd.', 'Magnetic Analysis Corporation', 'Yxlon International GmbH', 'Comet Group', 'Fischer Technology Inc.', 'T.D. Williamson, Inc.', 'ZK Inspection Group Co., Ltd.', 'Bureau Veritas S.A.', 'Intertek Group plc', 'MFE Enterprises, Inc.', 'Acuren Inspection, Inc.', 'NDT Global GmbH & Co. KG'

The construction, material, and strength criteria are necessary for the aircrafts. Non-Destructive Evaluation (NDE), Non-Destructive Inspection (NDI), and Non-Destructive Examination are further names for the method (NDE). A number of problems, including tragic accidents and the loss of life, might result from surface, strength, and fracture failure. For example, from 1,301 incidents involving civilian aircraft registered in the United States in 2019 to 1,139 accidents in 2020. Between 2019 and 2020, there were 349 fewer fatalities in civil aviation than there were in 2019. Of the 349 fatalities in 2020, all but one occurred aboard. These fatalities didn't involve any commercial airlines.

Non-destructive testing (NDT) techniques employ sophisticated tools and gear for superior defect detection. The need for NDT is fueled by the development of wireless sensors, the Internet of Things (IoT), and technical advancements in sensors since the findings of the testing are so exceptionally accurate. The different ultrasonic testing tomography of rebar offers the highest level of precision. The optical positioning equipment and software algorithm assisted by artificial intelligence are well-equipped for testing. The analytical algorithm enables accurate probe location during the measurement process to be identified.

In 2022, the non-destructive testing market share in North America reached at USD 2.68 billion. The U.S., Canada, and Mexico's increasing need for sophisticated material testing is the major reason for region’s dominance.  The market in the US is driven by the existence of well-known industry players like Fischer Technology Inc., Acuren Inspection Inc., and Magnaflux Corporation.

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