NDT and Inspection Market

NDT and Inspection Market by Technique (Ultrasonic Testing, Visual, Magnetic Particle, Liquid Penetration, Eddy-Current, Radiographic, Acoustic Emission), Service, Method, Vertical, Application and Region - Global Forecast to 2029

Report Code: SE 2860 Feb, 2024, by marketsandmarkets.com

[313 Pages Report] The NDT and inspection market is expected to reach USD 18.4 billion by 2029 from 11.6 billion in 2024, at a CAGR of 9.6% during the 2024-2029 period.

NDT and inspection methodologies play a pivotal role in evaluating the structural integrity and material properties of various components and equipment without inducing damage. These techniques serve as crucial quality control mechanisms throughout the manufacturing process, facilitating the early identification of surface and subsurface defects in both finished products and work in progress (WIP). Moreover, they are instrumental in identifying faults and ensuring structural reliability across industrial assets and public infrastructure such as factories, buildings, bridges, railway lines, pipes, and machinery.

NDT and inspection methods encompass a range of approaches tailored to specific applications, allowing for precise defect detection and quantitative evaluation. Techniques such as Visual Testing (VT), Magnetic Particle Testing (MPT), Liquid Penetrant Testing (LPT), Eddy-Current Testing (ECT), Ultrasonic Testing (UT), Radiographic Testing (RT), and Acoustic Emission Testing (AET) are key components in the market analysis conducted for estimating market size.

Historically, NDT, also known as Non-Destructive Examination (NDE), has roots dating back to the 18th century, when rudimentary methods involved visual inspection and auditory analysis for identifying flaws in objects. Over time, advancements led to the development and utilization of methods like LPT and MPT. The discovery of X-rays in 1895 laid the foundation for Radiographic Testing (RT), while Ultrasonic Testing (UT) emerged in the early 20th century. Subsequent innovations expanded the repertoire of NDT and inspection techniques, broadening their applicability. The selection of a particular technique is contingent upon factors such as the nature of the object under examination, the objectives of the inspection, and budgetary considerations.

Technological advancements in sensing and data processing have significantly bolstered the effectiveness of various Non-Destructive Testing (NDT) and inspection techniques like Eddy-Current Testing (ECT), Ultrasonic Testing (UT), and Radiographic Testing (RT). These methods have become indispensable in industries for upholding product quality standards and maintaining favorable brand perception among consumers. Government regulations mandating safety and quality standards further drive the adoption of NDT and inspection practices, particularly in sectors like oil & gas, power generation, and aerospace, where even minor equipment defects can precipitate significant disasters.

UT and RT, pivotal techniques in this realm, are experiencing notable enhancements, thanks to developments in phased array (PA) and guided wave (GW) technologies for UT, and computed radiography for RT. Conversely, traditional surface inspection methods like Magnetic Particle Testing (MPT) and Liquid Penetrant Testing (LPT) are witnessing subdued growth due to the availability of more advanced alternatives for surface defect detection.

Growth is primarily fueled by stringent government regulations concerning public safety and product quality, alongside continuous advancements in electronics, automation, and robotics. However, challenges such as a shortage of skilled personnel for NDT and inspection tasks restrain market expansion.

Nevertheless, significant opportunities lie ahead, driven by extensive infrastructural developments in regions like Asia Pacific, Europe, and Latin America, heightened demand for NDT and inspection services in the power generation industry, technological advancements in inspection techniques, and the emergence of new applications for NDT and inspection technologies.

Some of the leading players in the NDT and Inspection market include General Electric (US), MISTRAS Group (US), Olympus Corporation (Japan), Ashtead Technology (Scotland), Nikon Metrology NV (UK), SGS Société Générale De Surveillance SA, (Switzerland), Magnaflux (US), Eddyfi Technologies (Canada), Sonatest (UK), Intertek Group plc (UK), Applus+ (Spain), Bureau Veritas (France), Comet Group (Switzerland), TUV Rheinland (Germany), FISCHER TECHNOLOGY INC. (US), Acuren (US), CREAFORM (Canada), Vidisco Ltd. (Israel), DEKRA (Germany), Team, Inc. (US), Labquip NDT (US), Cygnus Instruments Ltd. (UK), FPrimeC Solutions Inc. (Canada), Carestream Health (US), and  Element Materials Technology (UK).

Attractive Opportunities In the NDT and Inspection Market

NDT and Inspection Market

NDT and Inspection Market

NDT and Inspection Market Forecast to 2029

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NDT and Inspection Market Dynamics

Driver: Growing demand for structural health monitoring of infrastructure and maintenance needs

In regions like North America and Western Europe, the aging of infrastructures coupled with the increasing demand for maintenance serves as a primary catalyst for the heightened need for NDT and inspection equipment and services. Constructing new infrastructures by demolishing existing ones entails significant capital expenditure and time investments. Consequently, there is a preference for periodic health monitoring inspections of existing aging infrastructures to extend their operational life. NDT and non-destructive evaluation (NDE) techniques are crucial in preventing damage to aging assets by providing accurate data during inspections and mitigating the risk of premature and unexpected failures.

These NDT and evaluation methods gather information on structural performance parameters, including displacements, strains, and stresses. Advanced post-processing tools are then applied to analyze this data, allowing for the inference of the structures' current operational state and remaining life. Techniques such as Acoustic Emission (AE), Ultrasonics (UT), Digital Image Correlation (DIC), and Infrared Thermography (IRT) are integral to this process. Various sectors, including oil & gas plants and infrastructure components such as buildings, bridges, and power plant structures, require inspections due to aging. The ongoing inspection and health monitoring of concrete and steel structures contribute to the global growth of the NDT and inspection market.

Restraint: Financial Barriers Impacting NDT Equipment and Technology

The substantial investments required for NDT equipment and advanced technologies like infrared thermography, computed tomography, and radiography pose a potential constraint on the market's growth. The elevated costs associated with these sophisticated tools may be beyond the means of several developing and underdeveloped countries, thereby limiting their ability to adopt NDT equipment. This financial barrier could result in reduced uptake of NDT equipment in multiple regions, leading to a decline in overall equipment adoption rates.

Opportunity: Growing need for NDT and inspection services within the power generation industry.

Anticipated growth in the global power generation industry is set to drive increased adoption of NDT and inspection services. NDT techniques play a vital role in inspecting pressure systems, steam, gas turbines, and components within nuclear power plants, such as rods, small valves, waste containers, and waste management infrastructure. This trend creates a strategic opportunity for the expansion of the NDT and Inspection market.

Emerging economies, including China, India, and Mexico, are witnessing extensive infrastructure development projects, emphasizing power generation facilities significantly. According to the US Department of Energy, worldwide energy consumption is projected to rise by approximately 56% by 2040. China and India are expected to contribute roughly 50% to the global energy consumption share. The continuous expansion of nuclear power plants globally and the growing demand for machinery in power generation facilities offer lucrative prospects for players providing NDT and inspection equipment and solutions tailored for the power generation sector.

NDT and inspection activities facilitate safe and comprehensive testing of critical components within nuclear power plants without causing damage or alteration to the installed machinery. As there is a global inclination towards adopting renewable energy sources for power generation, this shift is poised to serve as a valuable opportunity for the growth of the NDT and inspection market in the foreseeable future.

Challenge: Growing complexity of industrial structure and machines

Industries like aerospace and defense, oil & gas, packaging, marine, and power generation rely on intricate industry equipment, encompassing items such as turbomachinery in liquid-fuel rockets, circuit boards, pressure vessels, heat exchangers, pipes, and lithium-ion batteries. These operational assets, vital during production cycles, experience varying degrees of wear and tear over their lifespan. The utilization of carbon fiber-reinforced plastic (CFRP) in aerospace and automotive applications further contributes to complexity, involving integrated components within a single CFRP structure through advanced curing and bonding methods.

The adoption of highly sophisticated NDT equipment, scan plans, and inspection processes has become imperative to ensure the safety and reliability of industrial equipment. NDT and inspection technologies are pivotal in analyzing materials, components, and products, detecting both inherent defects (such as fractures or cracks) and service-induced defects resulting from usage. However, the examination of smaller products like circuit boards demands the expertise of highly trained professionals to uphold stringent quality standards. Additionally, the associated programming necessary for analyzing inspected data is intricate, requiring skilled software developers to write codes. Consequently, the entire NDT and inspection process faces increasing challenges due to the escalating complexity of diverse industrial equipment.

NDT and Inspection Market Ecosystem

The prominent players in the NDT and Inspection market are SGS Société Générale De Surveillance SA, (Switzerland), Intertek Group plc (UK), General Electric (US), Applus+ (Spain), and Olympus Corporation (Japan).

NDT and Inspection Market by Ecosystem

The manufacturing vertical of the NDT and Inspection market is expected to grow at the highest CAGR in the forecast period.

NDT and inspection methods are widely employed in manufacturing to verify the integrity of manufactured parts. Mainly applied for preventative maintenance, analyzing failures, and assessing post-production, these methods are essential for maintaining the uninterrupted and safe functioning of various equipment. Before products such as consumer goods, electronics, and equipment are introduced to the market, they must undergo testing to meet regulatory standards. Sectors including mining, iron casting, pipe manufacturing, heavy engineering, agriculture, and metalworking are witnessing significant requirements for NDT and inspection services and equipment. These are utilized to monitor routine wear and tear and perform inspections according to predefined criteria and regulations.

In the mining industry, NDT and inspection techniques are employed for testing and inspecting pit-head equipment and underground transport to guarantee the safety of critical components. They are also utilized for swift analysis of gold, uranium, base metals, and iron ore. The frequency of testing mining equipment is often mandated by state or government regulations, which provide certificates and licenses to operators and equipment for use in the industry until another test is required. These tests consider factors such as the rate of equipment usage and potential risks to human life.

The shipbuilding industry, a pivotal segment of heavy engineering, relies on NDT and inspections for effective shipbuilding and maintenance operations, assessing the condition and quality of welds in plates, valves, and fabricated structures. Radiographic testing (RT) is commonly applied in shipbuilding. Testia, offering products, solutions, and services, addresses various NDT use cases for the naval industry, including ship hull inspection, tank and pipe inspection, digitalization solutions (Inspection 4.0), Structural Health Monitoring (SHM) on different structures, and more. In May 2021, Testia joined GICAN, the French naval industry group, expanding its network and activities in the NDT field for the marine industry. The post-World War II era witnessed rapid growth in the use of NDT and inspection in manufacturing plants, introducing techniques such as industrial radiography, phased array ultrasonic testing, and X-ray computed tomography.

In May 2023, Eddyfi Technologies, a prominent producer of sophisticated inspection technology equipment, is delighted to introduce the Panther 2 – the ultimate solution for rapid and versatile industrial inspections employing phased array ultrasonic testing (PAUT) and total focusing method (TFM). Tailored for application in manufacturing, laboratory, and field settings, Panther 2 stands out as a genuinely unique and flexible non-destructive testing tool.

India in the Asia Pacific region is expected to have the highest CAGR  in the forecast period.

In India, initiatives like Make in India are strategically aimed at fostering the development of domestic manufacturing facilities with substantial foreign direct investments. As the nation aligns itself with the upward trajectory of the domestic manufacturing industry, India is poised to emerge as a promising market for NDT and inspection equipment and services in the forecast period. The Indian government is actively shaping policies and initiatives to facilitate the growth of the NDT and inspection market. A notable example is the Indian government's liberal Special Economic Zone (SEZ) policy, which establishes a competitive environment conducive to the expansion of export-oriented manufacturing companies. Given the overall growth of the manufacturing sector in India, the market for magnetic particle testing within the NDT and inspection technique is projected to witness significant expansion from 2018 to 2024. The swift development in infrastructure, industry, and the economy has heightened the country's reliance on alternative energy sources such as nuclear, wind, and solar power plants, thereby increasing the demand for NDT and inspection equipment and services. Substantial military expenditures, coupled with advancements in transportation and infrastructure, are key drivers propelling the growth of the Indian NDT and inspection market. Moreover, India boasts the manufacture of various aircraft, including HAL Rudra, HAL light combat helicopter, HAL Lancer, HAL Dhruv, HAL Chetak, Light Combat Aircraft-Tejas, Intermediate Jet Trainer (IJT), and Multirole Transport Aircraft. This underscores the substantial potential for growth in the NDT and inspection market, particularly in the aerospace industry. However, hurdles such as the current state of the global economy, limited product knowledge among end users, bureaucratic delays, and corruption present challenges to the growth of the NDT and inspection market in India.

In August 2023, ASNT India, a for-profit subsidiary of the American Society for Nondestructive Testing (ASNT), unveiled its inaugural facility in India. The establishment aims to meet the increasing demand for enhanced non-destructive testing (NDT) capabilities in India, aligning with the country's ambitions to emerge as a formidable infrastructure hub.

NDT and Inspection Market
 by Region

NDT and Inspection Market by Region

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Key Market Players

The major players in the NDT and Inspection companies with a significant global presence include General Electric (US), MISTRAS Group (US), Olympus Corporation (Japan), Ashtead Technology (Scotland), Nikon Metrology NV (UK), SGS Société Générale De Surveillance SA, (Switzerland), Magnaflux (US), Eddyfi Technologies (Canada), Sonatest (UK), Intertek Group plc (UK), Applus+ (Spain), Bureau Veritas (France), Comet Group (Switzerland), TUV Rheinland (Germany), FISCHER TECHNOLOGY INC. (US), Acuren (US), CREAFORM (Canada), Vidisco Ltd. (Israel), DEKRA (Germany), Team, Inc. (US), Labquip NDT (US), Cygnus Instruments Ltd. (UK), FPrimeC Solutions Inc. (Canada), Carestream Health (US), and  Element Materials Technology (UK).

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Scope of the Report

Report Metric

Details

Market size available for years

2020–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Million/Billion), Volume (Million Units)

Segments Covered

By Technique, Service, Method, Vertical, Application, and Region

Geographies covered

North America, Europe, Asia Pacific, and RoW

Companies covered

The major players in the NDT and Inspection market are General Electric (US), MISTRAS Group (US), Olympus Corporation (Japan), Ashtead Technology (Scotland), Nikon Metrology NV (UK), SGS Société Générale De Surveillance SA, (Switzerland), Magnaflux (US), Eddyfi Technologies (Canada), Sonatest (UK), Intertek Group plc (UK), Applus+ (Spain), Bureau Veritas (France), Comet Group (Switzerland), TUV Rheinland (Germany), FISCHER TECHNOLOGY INC. (US), Acuren (US), CREAFORM (Canada), Vidisco Ltd. (Israel), DEKRA (Germany), Team, Inc. (US), Labquip NDT (US), Cygnus Instruments Ltd. (UK), FPrimeC Solutions Inc. (Canada), Carestream Health (US), and  Element Materials Technology (UK).

NDT and Inspection Market Highlights

The study segments the NDT and Inspection market based on technique, service, method, vertical, application, and region.

Segment

Subsegment

By Technique

  • Ultrasonic Testing (UT)
  • Visual Testing (VT)
  • Magnetic Particle Testing (MPT)
  • Liquid Penetrant Testing (LPT)
  • Eddy-Current Testing (ECT)
  • Radiographic Testing (RT)
  • Acoustic Emission Testing (AET)

By Service

  • Inspection Services
  • Equipment Rental Services
  • Calibration Services
  • Training Services

By Method

  • Visual Inspection
  • Surface Inspection
  • Volumetric Inspection
  • Others

By Vertical

  • Manufacturing
  • Oil & Gas
  • Aerospace
  • Public Infrastructure
  • Automotive
  • Power Generation
  • Others

By Application

  • Flaw Detection
  • Stress & Structure Analysis
  • Leak Detection
  • Dimensional Measurement
  • Physical Properties Estimation
  • Weld Verification
  • Chemical Composition Determination

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World

Recent Developments

  • In November 2023, International subsea equipment rental and solutions specialist Ashtead Technology broadened its mechanical solutions service portfolio through the acquisition of ACE Winches. This marks Ashtead Technology's eighth acquisition in the last six years, following the 2022 acquisitions of Aberdeenshire-based companies, WeSubsea and Hiretech. This latest strategic move reinforces Ashtead Technology's comprehensive product and service offerings in both the oil & gas and offshore wind sectors. ACE Winches, headquartered globally in Turriff, Aberdeenshire, will play a pivotal role as a key operational facility for Ashtead Technology. Plans for ongoing investment and expansion are in place to support the company's continuous growth trajectory.
  • In November 2023, Nikon Metrology NV launched three new models in its VOXLS 30 Series range of  X-ray CT (computed tomography) systems for non-destructive inspection. VOXLS 30 C 225, 30 C 320 and 30 C 450 models are now available.
  • In October 2023, Eddyfi Technologies, at the forefront of advanced robotic solutions, took pride in introducing the revolutionary VersaTrax series of robotic inspection crawlers. These adaptable robots are set to transform industrial inspections by providing precision, flexibility, and safety in demanding environments.
  • In July 2023, Nikon Americas Inc, the US based subsidiary of Nikon Corporation, acquired Avonix Imaging LLC* (Avonix), located in Maple Grove, Minnesota. Avonix has served as a crucial manufacturing partner for X-ray CT (computed tomography) equipment to Nikon Industrial Metrology Business Unit (IMBU) since 2015. With a history as a well-established provider of imaging inspection services, Avonix utilizes Nikon systems for both 3D and 2D X-ray/CT inspections. The company possesses extensive technical expertise in employing X-rays to examine the internal and external aspects of industrial components.
  • In May 2023, Previan Technologies, Inc. revealed the completion of the acquisition of Sensor Networks, Inc. (SNI), a prominent supplier of sensing tools and technologies facilitating the inspection and remote monitoring of safety-critical components with enhanced productivity. Following this transaction, SNI will be officially integrated into the Previan Group, and its NDT solutions will be propelled through the Eddyfi Technologies business unit.
  • In May 2023, Eddyfi Technologies, a prominent producer of sophisticated inspection technology equipment, is delighted to introduce the Panther 2 – the ultimate solution for rapid and versatile industrial inspections employing phased array ultrasonic testing (PAUT) and total focusing method (TFM). Tailored for application in manufacturing, laboratory, and field settings, Panther 2 stands out as a genuinely unique and flexible non-destructive testing tool.
  • In May 2023, The company officially communicated the release of the MM-400N and MM-800N series measuring microscopes. Notably, both series are equipped with aperture diaphragm control on the diascopic illuminator, providing operators the capability to fine-tune the aperture for optimal contrast and resolution. Additionally, the lighting conditions for measuring cylindrical products can be customized as well.
  • In May 2023, GE Aerospace, a division of General Electric, and Waygate Technologies, a leading provider of non-destructive testing (NDT) solutions for industrial inspection and a business under Baker Hughes, revealed the signing of a joint technology development agreement (JTDA). This collaboration aims to create advanced software and hardware inspection solutions tailored for commercial aircraft engines. The agreement is strategically structured to enhance the efficiency, precision, and quality of video borescope inspections while concurrently reducing costs for Maintenance, Repair, and Operations (MRO) shops and on-wing maintenance providers. Furthermore, GE Aerospace and Waygate Technologies will explore technology solutions emphasizing advanced analytics.
  • In April 2023, The VOXLS 40 C 450, with its substantial volume capacity, is capable of examining items with varying sizes and densities, both internally and externally. This versatility enables it to undertake a wide range of tasks across industrial, inspection bureaus, and academic settings. Housed in a single-piece cabinet, the VOXLS 40 C 450 features a metrology-grade manipulator anchored on granite, complemented by sturdy steel towers. The inclusion of high-precision motors and encoders further enhances its performance.
  • In April 2023, Nikon's Industrial Metrology Business Unit is set to unveil two additional systems as part of its upcoming generation of X-ray CT (computed tomography) inspection solutions later this year. Housed in a medium-sized cabinet, both the VOXLS 30 C 450 and VOXLS 30 M 450 models offer an impressive 450kV and 450 watts of continuous X-ray power. This level of power is notably high for a microfocus system, facilitating highly effective examination of samples, including those with substantial thickness and density.
  • In November 2022, SGS entered into a strategic alliance agreement with Envirosuite Limited, a leading provider of advanced environmental intelligence technology worldwide. This agreement outlines terms for collaboration between Envirosuite and SGS to jointly promote, market, and offer integrated services. These services combine SGS's expertise in testing, inspection, and certification with Envirosuite's 'EVS Omnis environmental intelligence platform. The aim is to deliver comprehensive compliance and operational optimization solutions for companies across various global sectors, including mining, heavy industry, and oil & gas.
  • In October 2022, Nikon Industrial Metrology introduced Laser Radar stations as a robust alternative to traditional Coordinate Measuring Machines (CMMs) for manufacturers in need of measuring the geometry of medium-to-large parts. These parts range from car doors, castings, and fabrications to entire car chassis or airframe structures.
  • In September 2022, Ashtead Technology bolstered its rental fleet by making a substantial investment in NORBIT Subsea's wideband multibeam sonar systems. Advanced ROVs using multibeam sonars for inspection and survey tasks rely on cutting-edge subsea technology. Given the increasing demand for specialized multibeam systems, this investment promises mutual benefits for both companies.
  • In September 2022, Waygate Technologies, the inspection arm of General Electric, inked a global technology collaboration deal with RINA (Registro Italiano Navale), a multinational group specializing in inspection, certification, and engineering. This partnership aims to introduce fresh and inventive solutions tailored for the marine shipyard industry. Through this agreement, customers will gain access to innovative approaches to digitize their welding inspections and leverage actionable data analytics. Consequently, shipyard inspectors will be equipped to promptly identify welding defects right after completion, mitigating potential delays and reducing costs associated with repairs or rework significantly.
  • In September 2022, Sensoria, a division of MISTRAS Group, partnered with Bladena, a Danish blade specialist, to introduce a groundbreaking solution aimed at optimizing the integrity and operational efficiency of offshore wind blades. This collaboration is dedicated to addressing the structural challenges faced by wind turbine blades in harsh environmental conditions within the offshore wind market. Given the remote locations of offshore blades, accessing and inspecting them can be challenging, potentially resulting in the exacerbation of damages between scheduled inspections.
  • In May 2022, SGS disclosed its acquisition of AIEX (France) as part of its ongoing efforts to bolster its portfolio within the nuclear energy sector. This acquisition of AIEX introduces complementary inspection capabilities to SGS's already robust testing expertise, thereby reinforcing the company's support for sustainable nuclear energy production in France.
  • In April 2022, Olympus Corporation announced the successful separation of its Scientific Solutions business into a wholly owned subsidiary, Evident Corporation. This decision comes after the divestiture of its Imaging business and underscores the company's commitment to solidifying its position as a key player in the medical industry over the long term. Evident, now a newly established subsidiary headquartered in Japan, operates independently under the Olympus umbrella. The Scientific Solutions business, which comprises Olympus' Industrial and Life Science sectors, will benefit from this reorganization by gaining autonomy and agility to swiftly and flexibly address the needs of its Industrial and Life Science customers.
  • In April 2022, Ashtead Technology unveiled a novel optical chain measurement system (CMS) designed to offer precise and consistent measurements of mooring chains. This system enables tracking of chain corrosion, wear, and elongation between surveys, along with inclination measurement to verify chain tension. Leveraging high-resolution video in tandem with machine vision algorithms, Ashtead Technology's innovative optical CMS not only cuts chain measurement time by over 50% but also delivers real-time results.
  • In March 2022, Ashtead Technology signed an exclusive rental agreement with OceanTools, a subsea engineering company specializing in the design and manufacture of underwater technologies. This agreement facilitates the enhancement of Ashtead Technology’s existing inventory of leak detection equipment for underwater survey and inspection operations.
  • In March 2022, Ashtead Technology signed a technical services agreement with Modus Subsea Services for the provision of survey and inspection equipment to integrate fully with Modus’ growing AUV fleet.
  • In March 2022, Petronas entered a partnership with Waygate Technologies Robotics (WTR) to bring to market a robotic inspection device tailored for the oil and gas sector. This advanced device facilitates enhanced data management and enables inspections of confined spaces within both onshore and offshore oil and gas facilities. The upgraded technology incorporates a cleaning tool along with additional ultrasonic and Eddy current inspection capabilities. Through this collaboration, a solution is being developed to help Petronas mitigate safety risks for its personnel and reduce overall asset downtime.
  • In March 2022, Olympus Corporation introduced the 72DL PLUS ultrasonic thickness gauge, offering accurate thickness measurements at rapid speeds within a portable and user-friendly device. Equipped with rapid scanning capabilities, sophisticated algorithms, and Olympus' most precise minimum thickness capability to date, this gauge excels in measuring the thickness of extremely thin layers, catering to demanding applications across various industries.
  • In February 2022, Olympus Corporation unveiled the OmniScan X3 64 flaw detector, boasting enhanced power and performance. This 64-channel instrument is equipped with the pulse capacity necessary to propel phased array (PA) probes featuring a larger number of elements, thereby accelerating data acquisition speed for total focusing method (TFM) imaging. Users can leverage its augmented capabilities to broaden and diversify their range of applications.
  • In January 2022, SGS announced a collaboration with Microsoft. The collaboration will integrate Microsoft’s cross-industry expertise, advanced data solutions, productivity platforms, and the global network and leading industry competence to develop innovative solutions for the testing, inspection, and certification (TIC) industry’s customers.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 33)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 NDT AND INSPECTION MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
           1.3.4 CURRENCY CONSIDERED
    1.4 LIMITATIONS 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA 
           FIGURE 2 NDT AND INSPECTION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
                    2.1.1.2 Key secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key supply-side participants for primary interviews
                    2.1.2.3 Breakdown of primary interviews
                    2.1.2.4 Key industry insights
           2.1.3 SECONDARY AND PRIMARY RESEARCH
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY PLAYERS FROM NDT AND INSPECTION MARKET
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY PLAYERS IN NDT AND INSPECTION MARKET
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION OF NDT AND INSPECTION MARKET BASED ON REGION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to derive market size using bottom-up analysis
                               FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to derive market size using top-down analysis
                               FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET SHARE ESTIMATION 
    2.4 DATA TRIANGULATION 
           FIGURE 8 DATA TRIANGULATION
    2.5 RISK ASSESSMENT 
           TABLE 1 RISK ASSESSMENT
    2.6 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON NDT AND INSPECTION MARKET 
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 52)
    3.1 IMPACT OF RECESSION 
           FIGURE 9 NDT AND INSPECTION MARKET: IMPACT OF RECESSION
           FIGURE 10 SERVICE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
           FIGURE 11 ULTRASONIC TESTING (UT) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2024
           FIGURE 12 POWER SEGMENT TO HOLD LARGEST MARKET SHARE IN 2029
           FIGURE 13 ASIA PACIFIC NDT AND INSPECTION MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 57)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN NDT AND INSPECTION MARKET 
           FIGURE 14 INCREASED DEMAND FOR STRUCTURAL HEALTH MONITORING AND MAINTENANCE OF INFRASTRUCTURE TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
    4.2 NDT AND INSPECTION MARKET, BY SERVICE 
           FIGURE 15 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2024
    4.3 NDT AND INSPECTION MARKET, BY METHOD 
           FIGURE 16 VOLUMETRIC INSPECTION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.4 NDT AND INSPECTION MARKET, BY REGION 
           FIGURE 17 INDIAN NDT AND INSPECTION MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 NDT AND INSPECTION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Implementation of stringent safety regulations to ensure public safety and product quality
                    5.2.1.2 Increased adoption in electronics, automation, and robotics industries to extend equipment lifespan, enhance production efficiency, and improve product quality
                    5.2.1.3 Growing use of AI and IoT technologies in NDT and inspection
                    5.2.1.4 Increased demand for structural health monitoring and maintenance of infrastructure
                    5.2.1.5 Adoption of flexible pricing models by testing solution providers
                               FIGURE 19 NDT AND INSPECTION MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of skilled technicians for conducting NDT and inspection
                    5.2.2.2 High cost of NDT equipment and related technologies
                               FIGURE 20 NDT AND INSPECTION MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Extensive infrastructure development in Asia Pacific, Europe, and South America
                    5.2.3.2 Growing demand for NDT and inspection services in power industry
                    5.2.3.3 Advancements in NDT and inspection techniques and emergence of new technologies
                    5.2.3.4 Growing demand for miniaturized and portable NDT devices
                    5.2.3.5 Growing emphasis on sustainability and eco-friendly practices
                               FIGURE 21 NDT AND INSPECTION MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Growing complexity of industrial structures and machines
                    5.2.4.2 High replacement costs associated with automated NDT and inspection equipment
                               FIGURE 22 NDT AND INSPECTION MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 23 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.4 PRICING ANALYSIS 
           5.4.1 AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER
                    FIGURE 24 AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER, 2023 (USD)
                    TABLE 2 AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER, 2023 (USD)
           5.4.2 INDICATIVE PRICING OF PORTABLE FLOW DETECTORS USED IN ULTRASONIC TESTING, BY REGION
                    TABLE 3 INDICATIVE PRICING OF PORTABLE FLOW DETECTORS USED IN ULTRASONIC TESTING, BY REGION, 2023 (USD)
    5.5 SUPPLY CHAIN ANALYSIS 
           FIGURE 25 NDT AND INSPECTION MARKET: SUPPLY CHAIN ANALYSIS
           5.5.1 RAW MATERIAL PROVIDERS
           5.5.2 COMPONENT SUPPLIERS
           5.5.3 EQUIPMENT DESIGNERS AND MANUFACTURERS
           5.5.4 SALES EXECUTIVES AND DISTRIBUTORS, SERVICE PROVIDERS, AND VERTICALS
    5.6 ECOSYSTEM MAPPING 
           TABLE 4 COMPANIES AND THEIR ROLES IN NDT AND INSPECTION ECOSYSTEM
           FIGURE 26 NDT AND INSPECTION MARKET: ECOSYSTEM MAPPING
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 TRENDS AND TECHNOLOGIES SHAPING NDT AND INSPECTION MARKET
                    5.7.1.1 Green NDT
                    5.7.1.2 Drone inspection
                    5.7.1.3 Real-time NDT for predictive maintenance with IoT integration
                    5.7.1.4 Use of Artificial Intelligence (AI) for defect detection
    5.8 PATENT ANALYSIS 
           5.8.1 DOCUMENT TYPE
                    TABLE 5 PATENTS FILED AND GRANTED
                    FIGURE 27 PATENTS APPLIED AND GRANTED, 2014–2023
           5.8.2 PUBLICATION TREND
                    FIGURE 28 NUMBER OF PATENTS PUBLISHED PER YEAR, 2014–2023
           5.8.3 JURISDICTION ANALYSIS
                    FIGURE 29 JURISDICTION ANALYSIS, 2013–2022
           5.8.4 TOP PATENT OWNERS
                    FIGURE 30 TOP 10 PATENT OWNERS, 2014–2023
                    TABLE 6 TOP 20 PUBLISHED PATENT OWNERS IN LAST 10 YEARS
                    TABLE 7 NDT AND INSPECTION MARKET: LIST OF MAJOR PATENTS, 2022–2023
    5.9 TRADE DATA ANALYSIS 
           FIGURE 31 COUNTRY-WISE EXPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, 2018–2022 (%)
           TABLE 8 EXPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
           FIGURE 32 COUNTRY-WISE IMPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, 2018–2022 (%)
           TABLE 9 IMPORT SCENARIO FOR HS CODE 9013-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
    5.10 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 10 NDT AND INSPECTION MARKET: KEY CONFERENCES AND EVENTS, 2023–2024
    5.11 CASE STUDY ANALYSIS 
           5.11.1 PIPELINE OPERATOR ENHANCED PIPELINE INTEGRITY BY DEPLOYING ADVANCED INSPECTION TECHNOLOGIES BY NDT GLOBAL
           5.11.2 INSPECTION INNERSPEC TECHNOLOGIES INC. INTRODUCED INNOVATIVE NDT TECHNOLOGIES FOR INSPECTION AND MONITORING OF BOLT LOAD IN SERVICE
           5.11.3 NDT GLOBAL REVOLUTIONIZED NGL PIPELINE INSPECTION WITH ADVANCED ULTRASONIC CRACK DETECTION TECHNOLOGY
    5.12 TARIFF AND REGULATORY LANDSCAPE 
           TABLE 11 MFN TARIFF LEVIED ON HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY GERMANY, 2023
           5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.13 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 33 NDT AND INSPECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 16 NDT AND INSPECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.13.1 INTENSITY OF COMPETITIVE RIVALRY
           5.13.2 THREAT OF NEW ENTRANTS
           5.13.3 THREAT OF SUBSTITUTES
           5.13.4 BARGAINING POWER OF BUYERS
           5.13.5 BARGAINING POWER OF SUPPLIERS
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL
                    TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL (%)
           5.14.2 BUYING CRITERIA
                    FIGURE 35 KEY BUYING CRITERIA, BY VERTICAL
                    TABLE 18 KEY BUYING CRITERIA, BY VERTICAL
 
6 NDT AND INSPECTION MARKET, BY TECHNIQUE (Page No. - 91)
    6.1 INTRODUCTION 
           FIGURE 36 ULTRASONIC TESTING (UT) SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2029
           TABLE 19 NDT AND INSPECTION MARKET, BY TECHNIQUE, 2020–2023 (USD MILLION)
           TABLE 20 NDT AND INSPECTION MARKET, BY TECHNIQUE, 2024–2029 (USD MILLION)
           TABLE 21 TECHNIQUE: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
           TABLE 22 TECHNIQUE: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
           TABLE 23 TECHNIQUE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 24 TECHNIQUE: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
           TABLE 25 MANUFACTURING: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 26 MANUFACTURING: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 27 OIL & GAS: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 28 OIL & GAS: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 29 AEROSPACE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 30 AEROSPACE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 31 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 32 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 33 AUTOMOTIVE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 34 AUTOMOTIVE: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 35 POWER: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 36 POWER: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 37 OTHER VERTICALS: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 38 OTHER VERTICALS: NDT AND INSPECTION MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
    6.2 ULTRASONIC TESTING (UT) 
           6.2.1 RISING USE IN VARIOUS INDUSTRIES TO HARNESS HIGH-FREQUENCY SOUND WAVES FOR MATERIAL INSPECTION AND THICKNESS MEASUREMENT TO DRIVE MARKET
           6.2.2 STRAIGHT BEAM TESTING
           6.2.3 ANGLE BEAM TESTING
           6.2.4 IMMERSION TESTING
           6.2.5 PHASED ARRAY TESTING
           6.2.6 TIME-OF-FLIGHT DIFFRACTION (TOFD)
           6.2.7 GUIDED WAVE TESTING
                    TABLE 39 ULTRASONIC TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 40 ULTRASONIC TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.3 VISUAL TESTING (VT) 
           6.3.1 GROWING ADOPTION FOR SURFACE EVALUATION AND ANALYSIS OF COMPONENTS, MATERIALS, AND STRUCTURES TO DRIVE MARKET
           6.3.2 GENERAL VISUAL INSPECTION
           6.3.3 AIDED VISUAL INSPECTION
           6.3.4 BORESCOPES
           6.3.5 ENDOSCOPES
           6.3.6 VIDEOSCOPES
                    TABLE 41 VISUAL TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 42 VISUAL TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.4 MAGNETIC PARTICLE TESTING (MPT) 
           6.4.1 INCREASING DEMAND IN UNDERWATER INSPECTIONS TO DRIVE MARKET
                    TABLE 43 MAGNETIC PARTICLE TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 44 MAGNETIC PARTICLE TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.5 LIQUID PENETRANT TESTING (LPT) 
           6.5.1 GROWING NEED FOR LIQUID PENETRANT TESTING OF DIVERSE MATERIALS TO DRIVE MARKET
                    TABLE 45 LIQUID PENETRANT TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 46 LIQUID PENETRANT TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.6 EDDY-CURRENT TESTING (ECT) 
           6.6.1 HIGH USE FOR MATERIAL ANALYSIS IN AEROSPACE AND MANUFACTURING VERTICALS TO FUEL MARKET GROWTH
           6.6.2 ALTERNATING CURRENT FIELD MEASUREMENT (ACFM)
           6.6.3 REMOTE FIELD TESTING (RFT)
           6.6.4 EDDY-CURRENT ARRAY (ECA)
                    TABLE 47 EDDY-CURRENT ARRAY: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 48 EDDY-CURRENT ARRAY: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.7 RADIOGRAPHIC TESTING (RT) 
           6.7.1 INCREASING USE TO IDENTIFY SURFACE AND INTERNAL IRREGULARITIES TO DRIVE MARKET
           6.7.2 X-RAY TESTING
           6.7.3 GAMMA RAY TESTING
           6.7.4 COMPUTED RADIOGRAPHY
           6.7.5 FILM RADIOGRAPHY
           6.7.6 DIRECT RADIOGRAPHY (REAL TIME)
                    TABLE 49 RADIOGRAPHIC TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 50 RADIOGRAPHIC TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.8 ACOUSTIC EMISSION TESTING (AET) 
           6.8.1 GROWING DEMAND IN METALS INDUSTRY TO FUEL MARKET GROWTH
                    TABLE 51 ACOUSTIC EMISSION TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 52 ACOUSTIC EMISSION TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    6.9 OTHER TECHNIQUES 
           6.9.1 TERAHERTZ IMAGING
                    TABLE 53 APPLICATIONS OF TERAHERTZ IMAGING, BY INDUSTRY
           6.9.2 NEAR-INFRARED SPECTROSCOPY
                    TABLE 54 APPLICATIONS OF NEAR-INFRARED SPECTROSCOPY, BY INDUSTRY
                    TABLE 55 OTHER TECHNIQUES: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 56 OTHER TECHNIQUES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
 
7 NDT AND INSPECTION MARKET, BY SERVICE (Page No. - 123)
    7.1 INTRODUCTION 
           FIGURE 37 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2029
           TABLE 57 NDT AND INSPECTION MARKET, BY SERVICE, 2020–2023 (USD MILLION)
           TABLE 58 NDT AND INSPECTION MARKET, BY SERVICE, 2024–2029 (USD MILLION)
           TABLE 59 SERVICE: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
           TABLE 60 SERVICE: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
           TABLE 61 SERVICE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 62 SERVICE: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
           TABLE 63 MANUFACTURING: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 64 MANUFACTURING: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 65 OIL & GAS: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 66 OIL & GAS: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 67 AEROSPACE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 68 AEROSPACE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 69 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 70 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 71 AUTOMOTIVE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 72 AUTOMOTIVE: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 73 POWER: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 74 POWER: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
           TABLE 75 OTHER VERTICALS: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
           TABLE 76 OTHER VERTICALS: NDT AND INSPECTION MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
    7.2 INSPECTION SERVICES 
           7.2.1 GROWING NEED TO ENHANCE INFRASTRUCTURE INTEGRITY THROUGH ADVANCED NDT INSPECTION SERVICES TO DRIVE MARKET
           7.2.2 ULTRASONIC INSPECTION
           7.2.3 RADIOGRAPHIC INSPECTION
           7.2.4 VISUAL INSPECTION
           7.2.5 MAGNETIC PARTICLE INSPECTION
           7.2.6 ADVANCED EDDY-CURRENT INSPECTION
           7.2.7 LIQUID PENETRANT INSPECTION
                    TABLE 77 INSPECTION SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 78 INSPECTION SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    7.3 EQUIPMENT RENTAL SERVICES 
           7.3.1 FINANCIAL, TECHNICAL, AND OPERATIONAL ADVANTAGES ASSOCIATED WITH EQUIPMENT RENTAL SERVICES TO DRIVE DEMAND
                    TABLE 79 EQUIPMENT RENTAL SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 80 EQUIPMENT RENTAL SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    7.4 CALIBRATION SERVICES 
           7.4.1 INCREASING DEMAND FOR PRECISE TESTING EQUIPMENT TO FUEL MARKET GROWTH
                    TABLE 81 CALIBRATION SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 82 CALIBRATION SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    7.5 TRAINING SERVICES 
           7.5.1 INCREASED NEED FOR HIGHLY SKILLED TECHNICAL PROFESSIONALS TO DRIVE DEMAND
                    TABLE 83 TRAINING SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
                    TABLE 84 TRAINING SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
 
8 NDT AND INSPECTION MARKET, BY METHOD (Page No. - 140)
    8.1 INTRODUCTION 
           FIGURE 38 VOLUMETRIC INSPECTION SEGMENT TO LEAD NDT AND INSPECTION MARKET FROM 2024 TO 2029
           TABLE 85 NDT AND INSPECTION MARKET, BY METHOD, 2020–2023 (USD MILLION)
           TABLE 86 NDT AND INSPECTION MARKET, BY METHOD, 2024–2029 (USD MILLION)
    8.2 VISUAL INSPECTION 
           8.2.1 RISE IN USE OF VISUAL INSPECTION AS ECONOMICAL SURFACE INSPECTION METHOD TO DRIVE MARKET
    8.3 SURFACE INSPECTION 
           8.3.1 IMPLEMENTATION OF SURFACE INSPECTION TECHNIQUE TO IDENTIFY CRACKS AND DISCONTINUITIES ON COMPONENT SURFACES TO FUEL MARKET GROWTH
    8.4 VOLUMETRIC INSPECTION 
           8.4.1 NEED TO ASSESS STRUCTURAL INTEGRITY OF COMPONENTS TO DRIVE DEMAND
    8.5 OTHER METHODS 
 
9 NDT AND INSPECTION MARKET, BY VERTICAL (Page No. - 145)
    9.1 INTRODUCTION 
           TABLE 87 NDT AND INSPECTION REQUIREMENTS OF DIFFERENT VERTICALS
           FIGURE 39 POWER SEGMENT TO HOLD LARGEST MARKET SHARE IN 2024
           TABLE 88 NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
           TABLE 89 NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
    9.2 MANUFACTURING 
           9.2.1 INCREASED DEMAND FOR NDT AND INSPECTION TECHNIQUES TO ENSURE CONTINUOUS AND SECURE OPERATION OF VARIOUS EQUIPMENT TO DRIVE MARKET
           9.2.2 ADVANCED NDT AND INSPECTION TECHNIQUES USED IN MANUFACTURING VERTICAL
                    9.2.2.1 Electromagnetic acoustic transducer (EMAT) technique
                               TABLE 90 MANUFACTURING: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 91 MANUFACTURING: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 92 MANUFACTURING: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 93 MANUFACTURING: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.3 OIL & GAS 
           9.3.1 INCREASING DEMAND FOR NDT AND INSPECTION SERVICES TO MONITOR PIPELINES, STORAGE TANKS, AND REFINING EQUIPMENT TO BOOST MARKET GROWTH
           9.3.2 REFINERIES
           9.3.3 TRANSMISSION PIPELINES
           9.3.4 SUBSEA PIPELINES
           9.3.5 STORAGE TANKS
           9.3.6 ADVANCED NDT TECHNIQUES USED IN OIL & GAS VERTICAL
                    9.3.6.1 Long-range ultrasonic technique (LRUT)
                    9.3.6.2 Positive metal identification technique
                               TABLE 94 OIL & GAS: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 95 OIL & GAS: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 96 OIL & GAS: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 97 OIL & GAS: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.4 AEROSPACE 
           9.4.1 GROWING USE OF NDT AND INSPECTION TO DETECT AND PREVENT FLAWS IN AIRCRAFT COMPONENTS TO DRIVE MARKET
                    TABLE 98 APPLICATIONS OF NDT AND INSPECTION TECHNIQUES IN AEROSPACE VERTICAL
                    TABLE 99 NDT AND INSPECTION METHODS USED IN AEROSPACE VERTICAL
           9.4.2 AIRCRAFT ENGINE PART PRODUCTION
           9.4.3 COMPOSITE AIRFRAME MANUFACTURING
           9.4.4 AIRCRAFT MAINTENANCE
                    TABLE 100 ESSENTIAL NDT AND INSPECTION TECHNIQUES FOR AIRCRAFT MAINTENANCE
           9.4.5 MATERIAL ANALYSIS
           9.4.6 ADVANCED NDT AND INSPECTION TECHNIQUES USED IN AEROSPACE VERTICAL
                    9.4.6.1 Dynamic thermography
                    9.4.6.2 Air-coupled ultrasound
                    9.4.6.3 Dynamic interferometry
                               TABLE 101 AEROSPACE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 102 AEROSPACE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 103 AEROSPACE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 104 AEROSPACE: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.5 PUBLIC INFRASTRUCTURE 
           9.5.1 GROWING USE OF NDT AND INSPECTION TECHNIQUES TO ENSURE INFRASTRUCTURE SAFETY TO DRIVE MARKET
           9.5.2 MILITARY & DEFENSE
           9.5.3 AIRPORT SECURITY
           9.5.4 RAILWAYS
           9.5.5 BRIDGES AND TUNNELS
           9.5.6 BORDER CROSSING
           9.5.7 NUCLEAR WASTE STORAGE AND DECOMMISSIONING
           9.5.8 ADVANCED NDT AND INSPECTION TECHNIQUES USED IN PUBLIC INFRASTRUCTURE VERTICAL
                    9.5.8.1 Impact echo
                    9.5.8.2 Ground penetrating radars (GPRs)
                               TABLE 105 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 106 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 107 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 108 PUBLIC INFRASTRUCTURE: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.6 AUTOMOTIVE 
           9.6.1 ADOPTION OF NDT AND INSPECTION TECHNIQUES TO ENSURE SAFETY AND QUALITY OF AUTOMOBILE COMPONENTS DURING MANUFACTURING PROCESS TO FUEL MARKET GROWTH
           TABLE 109 ADVANTAGES OF USING DIFFERENT NDT AND INSPECTION TECHNOLOGIES IN AUTOMOTIVE VERTICAL
           9.6.2 ADVANCED NDT AND INSPECTION TECHNIQUES USED IN AUTOMOTIVE VERTICAL
                    9.6.2.1 High-energy digital radiography
                               TABLE 110 AUTOMOTIVE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 111 AUTOMOTIVE: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 112 AUTOMOTIVE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 113 AUTOMOTIVE: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.7 POWER 
           9.7.1 USE OF NDT TO IDENTIFY STRUCTURAL DEFECTS AND ENSURE OPERATIONAL RELIABILITY TO BOOST MARKET GROWTH
           9.7.2 NUCLEAR POWER PLANTS
           TABLE 114 APPLICATIONS OF NDT AND INSPECTION TECHNIQUES IN NUCLEAR POWER PLANTS
           9.7.3 WIND TURBINES
           9.7.4 SOLAR POWER
           9.7.5 FOSSIL FUEL ENERGY PLANTS
           9.7.6 ADVANCED NDT AND INSPECTION TECHNIQUES USED IN POWER VERTICAL
                    9.7.6.1 Galvano static pulse measurement
                    9.7.6.2 Ultrasonic pulse echo testing
                               TABLE 115 POWER: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                               TABLE 116 POWER: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                               TABLE 117 POWER: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                               TABLE 118 POWER: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.8 OTHER VERTICALS 
           9.8.1 MARINE
           9.8.2 MEDICAL & HEALTHCARE
           9.8.3 PLASTICS & POLYMERS
                    TABLE 119 OTHER VERTICALS: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
                    TABLE 120 OTHER VERTICALS: NDT AND INSPECTION MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
                    TABLE 121 OTHER VERTICALS: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 122 OTHER VERTICALS: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
 
10 NDT AND INSPECTION MARKET, BY APPLICATION (Page No. - 176)
     10.1 INTRODUCTION 
             FIGURE 40 KEY APPLICATIONS OF NDT AND INSPECTION TECHNIQUES
     10.2 FLAW DETECTION 
             10.2.1 INCREASING SIGNIFICANCE OF FLAW DETECTION FOR QUALITY CONTROL IN INDUSTRIAL INSPECTIONS TO DRIVE DEMAND
                        TABLE 123 DIFFERENT TYPES OF ULTRASONIC TRANSDUCERS USED IN FLAW DETECTION
     10.3 STRESS AND STRUCTURE ANALYSIS 
             10.3.1 RISING IMPORTANCE OF STRESS AND STRUCTURAL ANALYSIS TO IDENTIFY DEFECTS WITHIN STRUCTURE OF TEST OBJECTS TO DRIVE MARKET
                        TABLE 124 NDT TECHNIQUES TO DETECT STRUCTURAL DAMAGES
     10.4 LEAK DETECTION 
             10.4.1 ENHANCEMENT OF PIPELINE RELIABILITY USING ADVANCED LEAK DETECTION SYSTEMS TO DRIVE MARKET
                        TABLE 125 LEAK TESTING TECHNIQUES
     10.5 DIMENSIONAL MEASUREMENT 
             10.5.1 USE OF DIMENSIONAL MEASUREMENT FOR OBJECT ASSESSMENT AND INSPECTION TO DRIVE MARKET
                        TABLE 126 DIMENSIONAL MEASUREMENT TECHNIQUES
                        TABLE 127 OBJECTIVES OF DIMENSIONAL MEASUREMENTS
     10.6 PHYSICAL PROPERTIES ESTIMATION 
             10.6.1 ADOPTION OF NDT AND INSPECTION TO ASSESS PHYSICAL PROPERTIES OF TESTED OBJECTS TO DRIVE MARKET
     10.7 WELD VERIFICATION 
             10.7.1 NEED TO ENSURE QUALITY OF WELD IN SEVERE LOADING CONDITIONS TO DRIVE DEMAND
     10.8 CHEMICAL COMPOSITION DETERMINATION 
             10.8.1 USE OF CHEMICAL COMPOSITION EXAMINATION IN MANUFACTURING PROCESSES FOR QUALITY ASSURANCE TO DRIVE MARKET
                        10.8.1.1 Plasma emission spectrograph
                        10.8.1.2 Corrosion resistance testing
     10.9 OTHER APPLICATIONS 
             TABLE 128 OTHER APPLICATIONS OF NDT AND INSPECTION
 
11 NDT AND INSPECTION MARKET, BY REGION (Page No. - 184)
     11.1 INTRODUCTION 
             FIGURE 41 NDT AND INSPECTION MARKET, BY REGION
             FIGURE 42 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2029
             TABLE 129 NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 130 NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
     11.2 NORTH AMERICA 
             FIGURE 43 NORTH AMERICA: NDT AND INSPECTION MARKET SNAPSHOT
             TABLE 131 NORTH AMERICA: NDT AND INSPECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 132 NORTH AMERICA: NDT AND INSPECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 133 NORTH AMERICA: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 134 NORTH AMERICA: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             11.2.1 NORTH AMERICAN NDT AND INSPECTION MARKET: RECESSION IMPACT
             11.2.2 US
                        11.2.2.1 Rising defense expenditures and aircraft production to fuel market growth
             11.2.3 CANADA
                        11.2.3.1 Increasing demand for advanced material testing to drive market
             11.2.4 MEXICO
                        11.2.4.1 High emphasis on urban mobility and expansion of natural gas pipeline network to fuel market growth
     11.3 EUROPE 
             FIGURE 44 EUROPE: NDT AND INSPECTION MARKET SNAPSHOT
             TABLE 135 EUROPE: NDT AND INSPECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 136 EUROPE: NDT AND INSPECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 137 EUROPE: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 138 EUROPE: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             11.3.1 EUROPEAN NDT AND INSPECTION MARKET: RECESSION IMPACT
             11.3.2 UK
                        11.3.2.1 Growth in aircraft export to drive demand
             11.3.3 GERMANY
                        11.3.3.1 Growing demand for NDT and inspection services and equipment in automotive vertical to drive market
             11.3.4 FRANCE
                        11.3.4.1 Increased use of NDT and inspection services and equipment in aerospace vertical to fuel market growth
             11.3.5 ITALY
                        11.3.5.1 Expansion of oil refining capacity and shale gas development to drive market
             11.3.6 REST OF EUROPE
     11.4 ASIA PACIFIC 
             FIGURE 45 ASIA PACIFIC: NDT AND INSPECTION MARKET SNAPSHOT
             TABLE 139 ASIA PACIFIC: NDT AND INSPECTION MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 140 ASIA PACIFIC: NDT AND INSPECTION MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 141 ASIA PACIFIC: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 142 ASIA PACIFIC: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             11.4.1 ASIA PACIFIC NDT AND INSPECTION MARKET: RECESSION IMPACT
             11.4.2 CHINA
                        11.4.2.1 Rapid infrastructure development and expanding automotive vertical to drive demand
             11.4.3 JAPAN
                        11.4.3.1 Expanding nuclear power generation sector to propel market
             11.4.4 INDIA
                        11.4.4.1 Increased demand for NDT equipment and inspection techniques in manufacturing sector to drive market
             11.4.5 REST OF ASIA PACIFIC
     11.5 ROW 
             FIGURE 46 MIDDLE EAST TO ACCOUNT FOR LARGEST SHARE OF ROW NDT AND INSPECTION MARKET IN 2029
             TABLE 143 ROW: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 144 ROW: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
             FIGURE 47 OIL & GAS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ROW NDT AND INSPECTION MARKET IN 2029
             TABLE 145 ROW: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
             TABLE 146 ROW: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
             11.5.1 ROW NDT AND INSPECTION MARKET: IMPACT OF RECESSION
             11.5.2 MIDDLE EAST
                        11.5.2.1 High investment in infrastructure development to drive market
                                     TABLE 147 MIDDLE EAST: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
                                     TABLE 148 MIDDLE EAST: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
                        11.5.2.2 GCC Countries
                                     11.5.2.2.1 Increasing infrastructure development attributed to economic diversification efforts to drive market
                        11.5.2.3 Rest of Middle East
             11.5.3 AFRICA
                        11.5.3.1 Booming power vertical to fuel demand
             11.5.4 SOUTH AMERICA
                        11.5.4.1 Rising demand for NDT equipment and inspection techniques in oil & gas and power verticals to drive market
 
12 COMPETITIVE LANDSCAPE (Page No. - 209)
     12.1 OVERVIEW 
     12.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
             FIGURE 48 NDT AND INSPECTION MARKET: OVERVIEW OF KEY STRATEGIES ADOPTED BY LEADING PLAYERS, 2021–2023
     12.3 MARKET SHARE ANALYSIS, 2023 
             TABLE 149 NDT AND INSPECTION MARKET: DEGREE OF COMPETITION
             FIGURE 49 NDT AND INSPECTION MARKET SHARE ANALYSIS, 2023
     12.4 REVENUE ANALYSIS, 2019–2023 
             FIGURE 50 NDT AND INSPECTION MARKET: REVENUE ANALYSIS OF FIVE KEY COMPANIES, 2019–2023
     12.5 COMPANY EVALUATION MATRIX, 2023 
             FIGURE 51 NDT AND INSPECTION MARKET: COMPANY EVALUATION MATRIX, 2023
             12.5.1 STARS
             12.5.2 PERVASIVE PLAYERS
             12.5.3 EMERGING LEADERS
             12.5.4 PARTICIPANTS
             12.5.5 COMPANY FOOTPRINT
                        12.5.5.1 Overall footprint
                                     TABLE 150 OVERALL COMPANY FOOTPRINT
                                     TABLE 151 COMPANY SERVICE FOOTPRINT
                        12.5.5.2 Vertical footprint
                                     TABLE 152 COMPANY VERTICAL FOOTPRINT
                        12.5.5.3 Regional footprint
                                     TABLE 153 COMPANY REGION FOOTPRINT
     12.6 STARTUP/SMALL AND MEDIUM-SIZED ENTERPRISE (SME) EVALUATION MATRIX, 2023 
           FIGURE 52 NDT AND INSPECTION MARKET: STARTUP/SME EVALUATION MATRIX, 2023
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
             12.6.5 COMPETITIVE BENCHMARKING
                        12.6.5.1 List of key startups/SMEs
                                     TABLE 154 NDT AND INSPECTION MARKET: DETAILED LIST OF KEY STARTUPS/SMES
                        12.6.5.2 Competitive benchmarking of key startups/SMEs
                                     TABLE 155 NDT AND INSPECTION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.7 COMPANY VALUATION, 2022 
           FIGURE 53 NDT AND INSPECTION MARKET: COMPANY VALUATION, 2022
     12.8 FINANCIAL METRICS, 2022 
           FIGURE 54 NDT AND INSPECTION MARKET: FINANCIAL METRICS, 2022
     12.9 COMPETITIVE SCENARIOS AND TRENDS 
             12.9.1 PRODUCT LAUNCHES
                        TABLE 156 NDT AND INSPECTION MARKET: PRODUCT LAUNCHES, APRIL 2022–NOVEMBER 2023
             12.9.2 DEALS
                        TABLE 157 NDT AND INSPECTION MARKET: DEALS, JANUARY 2022–NOVEMBER 2023
 
13 COMPANY PROFILES (Page No. - 235)
     13.1 INTRODUCTION
     13.2 KEY PLAYERS 
             13.2.1 GENERAL ELECTRIC
                        13.2.1.1 Business overview
                                     TABLE 158 GENERAL ELECTRIC: COMPANY OVERVIEW
                                     FIGURE 55 GENERAL ELECTRIC: COMPANY SNAPSHOT
                        13.2.1.2 Products/Solutions/Services offered
                                     TABLE 159 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.1.3 Recent developments
                                     13.2.1.3.1 Product launches
                                     TABLE 160 GENERAL ELECTRIC: PRODUCT LAUNCHES
                                     13.2.1.3.2 Deals
                                     TABLE 161 GENERAL ELECTRIC: DEALS
                        13.2.1.4 MnM view
                                     13.2.1.4.1 Key strengths/Right to win
                                     13.2.1.4.2 Strategic choices
                                     13.2.1.4.3 Weaknesses/Competitive threats
             13.2.2 MISTRAS GROUP
                        13.2.2.1 Business overview
                                     TABLE 162 MISTRAS GROUP: COMPANY OVERVIEW
                                     FIGURE 56 MISTRAS GROUP: COMPANY SNAPSHOT
                        13.2.2.2 Products/Solutions/Services offered
                                     TABLE 163 MISTRAS GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.2.3 Recent developments
                                     13.2.2.3.1 Deals
                                                    TABLE 164 MISTRAS GROUP: DEALS
                        13.2.2.4 MnM view
                                     13.2.2.4.1 Key strengths/Right to win
                                     13.2.2.4.2 Strategic choices
                                     13.2.2.4.3 Weaknesses/Competitive threats
             13.2.3 OLYMPUS CORPORATION
                        13.2.3.1 Business overview
                                     TABLE 165 OLYMPUS CORPORATION: COMPANY OVERVIEW
                                     FIGURE 57 OLYMPUS CORPORATION: COMPANY SNAPSHOT
                        13.2.3.2 Products/Solutions/Services offered
                                     TABLE 166 OLYMPUS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.3.3 Recent developments
                                     13.2.3.3.1 Product launches
                                     TABLE 167 OLYMPUS CORPORATION: PRODUCT LAUNCHES
                                     13.2.3.3.2 Deals
                                                    TABLE 168 OLYMPUS CORPORATION: DEALS
                        13.2.3.4 MnM view
                                     13.2.3.4.1 Key strengths/Right to win
                                     13.2.3.4.2 Strategic choices
                                     13.2.3.4.3 Weaknesses/Competitive threats
             13.2.4 ASHTEAD TECHNOLOGY
                        13.2.4.1 Business overview
                                     TABLE 169 ASHTEAD TECHNOLOGY: COMPANY OVERVIEW
                                     FIGURE 58 ASHTEAD TECHNOLOGY: COMPANY SNAPSHOT
                        13.2.4.2 Products/Solutions/Services offered
                                     TABLE 170 ASHTEAD TECHNOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.4.3 Recent developments
                                     13.2.4.3.1 Product launches
                                                    TABLE 171 ASHTEAD TECHNOLOGY: PRODUCT LAUNCHES
                                     13.2.4.3.2 Deals
                                                    TABLE 172 ASHTEAD TECHNOLOGY: DEALS
                        13.2.4.4 MnM view
                                     13.2.4.4.1 Key strengths/Right to win
                                     13.2.4.4.2 Strategic choices
                                     13.2.4.4.3 Weaknesses/Competitive threats
             13.2.5 NIKON METROLOGY NV
                        TABLE 173 NIKON METROLOGY NV: COMPANY OVERVIEW
                        13.2.5.1 Products/Solutions/Services offered
                                     TABLE 174 NIKON METROLOGY NV: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.5.2 Recent developments
                                     13.2.5.2.1 Product launches
                                                    TABLE 175 NIKON METROLOGY NV: PRODUCT LAUNCHES
                                     13.2.5.2.2 Deals
                                                    TABLE 176 NIKON METROLOGY NV: DEALS
                        13.2.5.3 MnM view
                                     13.2.5.3.1 Key strengths/Right to win
                                     13.2.5.3.2 Strategic choices
                                     13.2.5.3.3 Weaknesses/Competitive threats
             13.2.6 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.
                        13.2.6.1 Business overview
                                     TABLE 177 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: COMPANY OVERVIEW
                                     FIGURE 59 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: COMPANY SNAPSHOT
                        13.2.6.2 Products/Solutions/Services offered
                                     TABLE 178 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: PRODUCTS/SOLUTIONS/ SERVICES OFFERED
                        13.2.6.3 Recent developments
                                     13.2.6.3.1 Deals
                                                    TABLE 179 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: DEALS
             13.2.7 MAGNAFLUX
                        13.2.7.1 Business overview
                                     TABLE 180 MAGNAFLUX: COMPANY OVERVIEW
                        13.2.7.2 Products/Solutions/Services offered
                                     TABLE 181 MAGNAFLUX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.7.3 Recent developments
                                     13.2.7.3.1 Product launches
                                                    TABLE 182 MAGNAFLUX: PRODUCT LAUNCHES
             13.2.8 EDDYFI TECHNOLOGIES
                        13.2.8.1 Business overview
                                     TABLE 183 EDDYFI TECHNOLOGIES: COMPANY OVERVIEW
                        13.2.8.2 Products/Solutions/Services offered
                                     TABLE 184 EDDYFI TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.8.3 Recent developments
                                     13.2.8.3.1 Product launches
                                                    TABLE 185 EDDYFI TECHNOLOGIES: PRODUCT LAUNCHES
                                     13.2.8.3.2 Deals
                                                    TABLE 186 EDDYFI TECHNOLOGIES: DEALS
             13.2.9 SONATEST
                        13.2.9.1 Business overview
                                     TABLE 187 SONATEST: COMPANY OVERVIEW
                        13.2.9.2 Products/Solutions/Services offered
                                     TABLE 188 SONATEST: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.9.3 Recent developments
                                     13.2.9.3.1 Product launches
                                                    TABLE 189 SONATEST: PRODUCT LAUNCHES
                                     13.2.9.3.2 Deals
                                                    TABLE 190 SONATEST: DEALS
             13.2.10 INTERTEK GROUP PLC
                        13.2.10.1 Business overview
                                     TABLE 191 INTERTEK GROUP PLC: COMPANY OVERVIEW
                                     FIGURE 60 INTERTEK GROUP PLC: COMPANY SNAPSHOT
                        13.2.10.2 Products/Solutions/Services offered
                                     TABLE 192 INTERTEK GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        13.2.10.3 Recent developments
                                     13.2.10.3.1 Product launches
                                                     TABLE 193 INTERTEK GROUP PLC: PRODUCT LAUNCHES
                                     13.2.10.3.2 Deals
                                                     TABLE 194 INTERTEK GROUP PLC: DEALS
                                     13.2.10.3.3 Others
                                                     TABLE 195 INTERTEK GROUP PLC: OTHERS
     13.3 OTHER PLAYERS 
             13.3.1 APPLUS+
             13.3.2 BUREAU VERITAS
             13.3.3 COMET GROUP
             13.3.4 TUV RHEINLAND
             13.3.5 FISCHER TECHNOLOGY INC.
             13.3.6 ACUREN
             13.3.7 CREAFORM
             13.3.8 VIDISCO LTD.
             13.3.9 DEKRA
             13.3.10 TEAM, INC.
             13.3.11 LABQUIP NDT
             13.3.12 CYGNUS INSTRUMENTS LTD.
             13.3.13 FPRIMEC SOLUTIONS INC.
             13.3.14 CARESTREAM HEALTH
             13.3.15 ELEMENT MATERIALS TECHNOLOGY
 
14 APPENDIX (Page No. - 306)
     14.1 INSIGHTS FROM INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS 

 

 

The research report includes four major activities, estimating the size of the NDT and Inspection market. Secondary research has been done to gather important information about the market and peer markets. To validate the findings, assumptions, and sizing with the primary research with industry experts across the supply chain is the next step. Both bottom-up and top-down approaches have been used to estimate the market size. After this, the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments

Secondary Research

During the secondary research phase, a variety of secondary sources were consulted to gather pertinent information for this study. These sources encompassed corporate filings (including annual reports, press releases, investor presentations, and financial statements), as well as data from trade, business, and professional associations such as the American Society for Nondestructive Testing (ASNT) and the British Institute of Non-Destructive Testing (BINDT). Additionally, white papers, location-based marketing journals, accredited publications, articles authored by recognized experts, directories, and databases were utilized.

The secondary research aimed to acquire crucial insights into the industry's supply chain, market monetary flow, and the comprehensive landscape of key players. It also facilitated the segmentation of the market according to prevailing industry trends, reaching down to granular levels, along with analysis of geographic markets and significant developments from both market and technology perspectives. The secondary data was meticulously collected and analyzed to ascertain the overall market size, which was subsequently corroborated through primary research.

Primary Research

During the process of primary research, a range of primary sources from both the supply and demand sides were engaged to gather qualitative and quantitative insights for this report. On the supply side, primary sources included industry experts such as chief executive officers (CEOs), vice presidents, marketing directors, technology and innovation directors, subject-matter experts (SMEs), consultants, and other key executives from prominent companies and organizations operating within the NDT and inspection market.

Following a comprehensive market engineering process, which involved calculations for market statistics, breakdowns, size estimations, forecasting, and data triangulation, extensive primary research was conducted to collect, verify, and validate critical numerical data. This primary research aimed to identify segmentation types, industry trends, key players, competitive landscapes, and key market dynamics such as drivers, restraints, opportunities, and challenges, as well as to understand the key strategies adopted by market players.

Building upon insights acquired from secondary research on the NDT and Inspection market, extensive primary research was conducted. Multiple primary interviews were conducted with experts from both the demand and supply sides across four key regions: North America, Europe, Asia Pacific, and ROW (Middle East, South America, and Africa). Approximately 25% of the primary interviews were conducted with representatives from the demand side, while 75% were with those from the supply side. Primary data collection was carried out through questionnaires, emails, and telephonic interviews.

NDT and Inspection Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the market engineering process, both the top-down and bottom-up approaches have been used, along with several data triangulation methods, to perform market estimation and forecasting for the overall market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed on the market engineering process to list key information/insights.

Key market players have been identified through secondary research, and their market shares have been determined through primary and secondary research. This involves studying their annual and financial reports and interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights—both quantitative and qualitative.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All possible parameters that may affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed input and analysis from MarketsandMarkets and presented in the report.

Market Size Estimation Methodology-Bottom-up Approach

A bottom-up approach has been employed to arrive at the overall size of the NDT and Inspection market from the calculations based on the revenues of the key players and their shares in the market. Key players in the NDT and inspection market have been studied. The market size estimations have been carried out considering the market size of their NDT and inspection offerings.

NDT and Inspection Market
 Size, and Bottom-up Approach

Market Size Estimation Methodology-Top Down Approach

The top-down approach utilized the overall market size to project the size of individual markets as delineated in the market segmentation, leveraging percentage splits derived from both secondary and primary research.

For specific market segment sizing, the top-down approach utilized the size of the most relevant parent market. Concurrently, the bottom-up approach was employed to cross-validate segment sizes using data extracted from secondary research.

Subsequently, market shares of all companies were estimated to validate their revenue shares, as previously determined through the bottom-up approach. Through data triangulation and validation via primary sources, this study confirmed the sizes of both the overall pare nt market and each individual market segment. The data triangulation process utilized in this study is elaborated upon in the subsequent section.

NDT and Inspection Market
 Size, and Top Down Approach

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the total market has been then split into several segments and sub-segments. Data triangulation has been employed to complete the market engineering process and arrive at the exact statistics for all segments and sub-segments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

NDT stands for Non-Destructive Testing. It refers to the process of assessing the integrity and quality of materials, components, or structures without causing damage to them. This method is crucial in various industries such as manufacturing, construction, and aerospace to ensure that products meet quality standards and safety regulations.

Inspection, on the other hand, involves the thorough examination and assessment of products, processes, or facilities to verify compliance with specifications, standards, or regulations. It aims to identify defects, faults, or deviations from the desired criteria, allowing businesses to maintain quality, safety, and efficiency in their operations.

NDT and inspection are essential practices in business to ensure the quality, safety, and reliability of products and processes without compromising integrity or performance.

NDT and inspection market is segmented by technique, service, method, vertical, application and by region.

Key Stakeholders

  • Original Equipment Manufacturers (OEMs)
  • Semiconductor Component Manufacturers and Distributors
  • NDT Equipment Distributors and Suppliers
  • Suppliers of Accessories Related to NDT Equipment
  • Providers of NDT Services
  • Research Organizations and Consulting Companies
  • Government bodies such as Regulating Authorities and Policymakers
  • Venture Capitalists and Private Equity Firms
  • Associations, Organizations, and Alliances related to NDT

The main objectives of this study are as follows:

  • To describe and forecast the NDT and Inspection market based on technique, service, method, vertical, and region in terms of value.
  • To describe and forecast the market, in terms of value, for various segments in four key regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW).
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To analyze the micromarkets1 with respect to individual growth trends, prospects, and contribution to the total market.
  • To provide a detailed overview of the NDT and Inspection supply chain and its industry trends.
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the NDT and Inspection market.
  • To profile the key players and comprehensively analyze their market position in terms of the market share and core competencies2, along with a detailed competitive landscape for the market leaders.
  • To analyze competitive developments such as partnerships, collaborations, acquisitions, and product launches in the NDT and Inspection market.

Available Customizations:

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  • Country-wise Information for Asia Pacific
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Custom Market Research Services

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Feb, 2024
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