Global Non-Destructive Testing (NDT) Market

Non-Destructive Testing (NDT) Market Size, Share, Growth Analysis, By Technique(Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing), By Method(Visual Inspection, Surface Inspection, Volumetric Inspection, Others), By Service(Ultrasonic Inspection, Equipment Rental Services, Calibration Services, Training Services), By Vertical(Manufacturing, Oil & Gas, Aerospace, Public Infrastructure), By Region - Industry Forecast 2024-2031

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

Non-Destructive Testing (NDT) Market News

  • In March 2022, an exclusive rental contract took place between Ashtead Technology and OceanTools, an Aberdeen-based subsea engineering firm that specializes in the design and production of undersea technology. According to the terms of the agreement, Ashtead Technology will be the sole rental partner for OceanTools' DyeTectorTM systems, including the most recent D10 DyeTector®, an advanced subsea leak, dye, and cement detector created with three sets of optical components to detect the three main underwater dyes — rhodamine, ultraviolet, and fluorescein — using a single, small device.
  • In March 2022, with a substantial investment in iXblue subsea positioning devices, Ashtead Technology bolstered its rental fleet. Included in the investment are iXblue's Gaps M5 USBL acoustic locating devices, which are currently rented out at all nine of the company's global technology and service centers. A medium frequency ultra-short baseline (USBL) system called Gaps M5 is the newest addition to iXblue's USBL product line. It is used for the precise positioning and monitoring of subsea assets. Gaps M5, a more portable variation of Gaps, the lightest high-performance USBL system on the market, is unrestricted for export. It is especially well .
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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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Global Non-Destructive Testing (NDT) Market

Report ID: SQMIG20B2009