NDT and Inspection Market Size, Share & Growth

Report Code SE 2860
Published in Feb, 2024, By MarketsandMarkets™
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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

Overview

The NDT and inspection market size is expected to reach USD 18.4 billion by 2029 from 11.6 billion in 2024, growing 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

ASIA PACIFIC

The growth of the NDT and inspection market in Asia Pacific is attributed due to the increased focus on preventive maintenance.

Expansion of the nuclear power generation sector to propel the NDT and inspection market growth in Asia Pacific region.

New product launches, acquisition, collaborations, and contracts are expected to offer lucrative growth opportunities for the market players during the forecast period.

The NDT and inspection market in Asia Pacific is projected to grow at the highest CAGR, USD 5.6 billion by 2029 from 3.2 billion in 2024, at a CAGR of 11.7% during the 2024- 2029 period.

Cost-effective NDT solutions and flexible pricing models is rising the demand of NDT and inspection market

Global 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.

Global NDT and Inspection Market Ecosystem Analysis

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).

 

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.

Non-Destructive Testing Equipment Market

The Non-Destructive Testing Equipment Market is experiencing significant growth, driven by the increasing demand for quality assurance and safety across industries such as aerospace, automotive, oil & gas, and construction. NDT equipment, which allows for the inspection and evaluation of materials and structures without causing any damage, plays a crucial role in ensuring the integrity and reliability of critical assets. Advances in technologies like ultrasonic testing, X-ray, eddy current testing, and infrared thermography are expanding the capabilities of NDT tools, making them more efficient and precise. As regulatory standards become stricter and industries focus on preventing failures, the NDT equipment market is poised for continued expansion, with a growing emphasis on automation, portability, and real-time data analysis.

ASIA PACIFIC (INDIA) region holds the largest share of the NDT and Inspection Market.

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 Industry 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.

 
 

Recent Developments of NDT and Inspection Market industry

  • 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.

Key Market Players

KEY 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)
  • Element Materials Technology (UK)

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Scope of the Report

Report Attribute Details
Estimated Market Size USD 11.6 billion in 2024
Projected Market Size USD 18.4 billion by 2029
Growth Rate  At a CAGR of 9.6%
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),

 

Key Questions Addressed by the Report

What is the current size of the global NDT and Inspection market?
The market size is USD 11.6 billion in 2024, projected to reach USD 18.4 billion by 2029 at a CAGR of 9.6%.
Who are the winners in the global NDT and Inspection market?
Companies such as SGS Société Générale De Surveillance SA, Intertek Group plc, General Electric, Applus+, and Olympus Corporation.
Which region is expected to hold the highest market share?
North America is expected to hold the largest market share during the forecast period.
What are the major drivers and opportunities related to the NDT and Inspection market?
Advancements in AI and IoT, along with a growing emphasis on sustainability and eco-friendly practices, are key drivers.
What are the major strategies adopted by market players?
Key players have focused on product launches, acquisitions, and collaborations to strengthen their market position.

 

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Table of Contents

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TITLE
PAGE NO
INTRODUCTION
25
RESEARCH METHODOLOGY
30
EXECUTIVE SUMMARY
44
PREMIUM INSIGHTS
49
MARKET OVERVIEW
51
  • 5.1 INTRODUCTION
  • 5.2 MARKET DYNAMICS
    DRIVERS
    - Implementation of stringent safety regulations to ensure public safety and product quality
    - Increased adoption in electronics, automation, and robotics industries to extend equipment lifespan, enhance production efficiency, and improve product quality
    - Growing use of AI and IoT technologies in NDT and inspection
    - Increased demand for structural health monitoring and maintenance of infrastructure
    - Adoption of flexible pricing models by testing solution providers
    RESTRAINTS
    - Lack of skilled technicians for conducting NDT and inspection
    - High cost of NDT equipment and related technologies
    OPPORTUNITIES
    - Extensive infrastructure development in Asia Pacific, Europe, and South America
    - Growing demand for NDT and inspection services in power industry
    - Advancements in NDT and inspection techniques and emergence of new technologies
    - Growing demand for miniaturized and portable NDT devices
    - Growing emphasis on sustainability and eco-friendly practices
    CHALLENGES
    - Growing complexity of industrial structures and machines
    - High replacement costs associated with automated NDT and inspection equipment
  • 5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • 5.4 PRICING ANALYSIS
    AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER
    INDICATIVE PRICING OF PORTABLE FLOW DETECTORS USED IN ULTRASONIC TESTING, BY REGION
  • 5.5 SUPPLY CHAIN ANALYSIS
    RAW MATERIAL PROVIDERS
    COMPONENT SUPPLIERS
    EQUIPMENT DESIGNERS AND MANUFACTURERS
    SALES EXECUTIVES AND DISTRIBUTORS, SERVICE PROVIDERS, AND VERTICALS
  • 5.6 ECOSYSTEM MAPPING
  • 5.7 TECHNOLOGY ANALYSIS
    TRENDS AND TECHNOLOGIES SHAPING NDT AND INSPECTION MARKET
    - Green NDT
    - Drone inspection
    - Real-time NDT for predictive maintenance with IoT integration
    - Use of Artificial Intelligence (AI) for defect detection
  • 5.8 PATENT ANALYSIS
    DOCUMENT TYPE
    PUBLICATION TREND
    JURISDICTION ANALYSIS
    TOP PATENT OWNERS
  • 5.9 TRADE DATA ANALYSIS
  • 5.10 KEY CONFERENCES AND EVENTS, 2023–2024
  • 5.11 CASE STUDY ANALYSIS
    PIPELINE OPERATOR ENHANCED PIPELINE INTEGRITY BY DEPLOYING ADVANCED INSPECTION TECHNOLOGIES BY NDT GLOBAL
    INSPECTION INNERSPEC TECHNOLOGIES INC. INTRODUCED INNOVATIVE NDT TECHNOLOGIES FOR INSPECTION AND MONITORING OF BOLT LOAD IN SERVICE
    NDT GLOBAL REVOLUTIONIZED NGL PIPELINE INSPECTION WITH ADVANCED ULTRASONIC CRACK DETECTION TECHNOLOGY
  • 5.12 TARIFF AND REGULATORY LANDSCAPE
    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
  • 5.13 PORTER’S FIVE FORCES ANALYSIS
    INTENSITY OF COMPETITIVE RIVALRY
    THREAT OF NEW ENTRANTS
    THREAT OF SUBSTITUTES
    BARGAINING POWER OF BUYERS
    BARGAINING POWER OF SUPPLIERS
  • 5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
    KEY STAKEHOLDERS IN BUYING PROCESS
    BUYING CRITERIA
NDT AND INSPECTION MARKET, BY TECHNIQUE
83
  • 6.1 INTRODUCTION
  • 6.2 ULTRASONIC TESTING (UT)
    RISING USE IN VARIOUS INDUSTRIES TO HARNESS HIGH-FREQUENCY SOUND WAVES FOR MATERIAL INSPECTION AND THICKNESS MEASUREMENT TO DRIVE MARKET
    STRAIGHT BEAM TESTING
    ANGLE BEAM TESTING
    IMMERSION TESTING
    PHASED ARRAY TESTING
    TIME-OF-FLIGHT DIFFRACTION (TOFD)
    GUIDED WAVE TESTING
  • 6.3 VISUAL TESTING (VT)
    GROWING ADOPTION FOR SURFACE EVALUATION AND ANALYSIS OF COMPONENTS, MATERIALS, AND STRUCTURES TO DRIVE MARKET
    GENERAL VISUAL INSPECTION
    AIDED VISUAL INSPECTION
    BORESCOPES
    ENDOSCOPES
    VIDEOSCOPES
  • 6.4 MAGNETIC PARTICLE TESTING (MPT)
    INCREASING DEMAND IN UNDERWATER INSPECTIONS TO DRIVE MARKET
  • 6.5 LIQUID PENETRANT TESTING (LPT)
    GROWING NEED FOR LIQUID PENETRANT TESTING OF DIVERSE MATERIALS TO DRIVE MARKET
  • 6.6 EDDY-CURRENT TESTING (ECT)
    HIGH USE FOR MATERIAL ANALYSIS IN AEROSPACE AND MANUFACTURING VERTICALS TO FUEL MARKET GROWTH
    ALTERNATING CURRENT FIELD MEASUREMENT (ACFM)
    REMOTE FIELD TESTING (RFT)
    EDDY-CURRENT ARRAY (ECA)
  • 6.7 RADIOGRAPHIC TESTING (RT)
    INCREASING USE TO IDENTIFY SURFACE AND INTERNAL IRREGULARITIES TO DRIVE MARKET
    X-RAY TESTING
    GAMMA RAY TESTING
    COMPUTED RADIOGRAPHY
    FILM RADIOGRAPHY
    DIRECT RADIOGRAPHY (REAL TIME)
  • 6.8 ACOUSTIC EMISSION TESTING (AET)
    GROWING DEMAND IN METALS INDUSTRY TO FUEL MARKET GROWTH
  • 6.9 OTHER TECHNIQUES
    TERAHERTZ IMAGING
    NEAR-INFRARED SPECTROSCOPY
NDT AND INSPECTION MARKET, BY SERVICE
115
  • 7.1 INTRODUCTION
  • 7.2 INSPECTION SERVICES
    GROWING NEED TO ENHANCE INFRASTRUCTURE INTEGRITY THROUGH ADVANCED NDT INSPECTION SERVICES TO DRIVE MARKET
    ULTRASONIC INSPECTION
    RADIOGRAPHIC INSPECTION
    VISUAL INSPECTION
    MAGNETIC PARTICLE INSPECTION
    ADVANCED EDDY-CURRENT INSPECTION
    LIQUID PENETRANT INSPECTION
  • 7.3 EQUIPMENT RENTAL SERVICES
    FINANCIAL, TECHNICAL, AND OPERATIONAL ADVANTAGES ASSOCIATED WITH EQUIPMENT RENTAL SERVICES TO DRIVE DEMAND
  • 7.4 CALIBRATION SERVICES
    INCREASING DEMAND FOR PRECISE TESTING EQUIPMENT TO FUEL MARKET GROWTH
  • 7.5 TRAINING SERVICES
    INCREASED NEED FOR HIGHLY SKILLED TECHNICAL PROFESSIONALS TO DRIVE DEMAND
NDT AND INSPECTION MARKET, BY METHOD
132
  • 8.1 INTRODUCTION
  • 8.2 VISUAL INSPECTION
    RISE IN USE OF VISUAL INSPECTION AS ECONOMICAL SURFACE INSPECTION METHOD TO DRIVE MARKET
  • 8.3 SURFACE INSPECTION
    IMPLEMENTATION OF SURFACE INSPECTION TECHNIQUE TO IDENTIFY CRACKS AND DISCONTINUITIES ON COMPONENT SURFACES TO FUEL MARKET GROWTH
  • 8.4 VOLUMETRIC INSPECTION
    NEED TO ASSESS STRUCTURAL INTEGRITY OF COMPONENTS TO DRIVE DEMAND
  • 8.5 OTHER METHODS
NDT AND INSPECTION MARKET, BY VERTICAL
137
  • 9.1 INTRODUCTION
  • 9.2 MANUFACTURING
    INCREASED DEMAND FOR NDT AND INSPECTION TECHNIQUES TO ENSURE CONTINUOUS AND SECURE OPERATION OF VARIOUS EQUIPMENT TO DRIVE MARKET
    ADVANCED NDT AND INSPECTION TECHNIQUES USED IN MANUFACTURING VERTICAL
    - Electromagnetic acoustic transducer (EMAT) technique
  • 9.3 OIL & GAS
    INCREASING DEMAND FOR NDT AND INSPECTION SERVICES TO MONITOR PIPELINES, STORAGE TANKS, AND REFINING EQUIPMENT TO BOOST MARKET GROWTH
    REFINERIES
    TRANSMISSION PIPELINES
    SUBSEA PIPELINES
    STORAGE TANKS
    ADVANCED NDT TECHNIQUES USED IN OIL & GAS VERTICAL
    - Long-range ultrasonic technique (LRUT)
    - Positive metal identification technique
  • 9.4 AEROSPACE
    GROWING USE OF NDT AND INSPECTION TO DETECT AND PREVENT FLAWS IN AIRCRAFT COMPONENTS TO DRIVE MARKET
    AIRCRAFT ENGINE PART PRODUCTION
    COMPOSITE AIRFRAME MANUFACTURING
    AIRCRAFT MAINTENANCE
    MATERIAL ANALYSIS
    ADVANCED NDT AND INSPECTION TECHNIQUES USED IN AEROSPACE VERTICAL
    - Dynamic thermography
    - Air-coupled ultrasound
    - Dynamic interferometry
  • 9.5 PUBLIC INFRASTRUCTURE
    GROWING USE OF NDT AND INSPECTION TECHNIQUES TO ENSURE INFRASTRUCTURE SAFETY TO DRIVE MARKET
    MILITARY & DEFENSE
    AIRPORT SECURITY
    RAILWAYS
    BRIDGES AND TUNNELS
    BORDER CROSSING
    NUCLEAR WASTE STORAGE AND DECOMMISSIONING
    ADVANCED NDT AND INSPECTION TECHNIQUES USED IN PUBLIC INFRASTRUCTURE VERTICAL
    - Impact echo
    - Ground penetrating radars (GPRs)
  • 9.6 AUTOMOTIVE
    ADOPTION OF NDT AND INSPECTION TECHNIQUES TO ENSURE SAFETY AND QUALITY OF AUTOMOBILE COMPONENTS DURING MANUFACTURING PROCESS TO FUEL MARKET GROWTH
    ADVANCED NDT AND INSPECTION TECHNIQUES USED IN AUTOMOTIVE VERTICAL
    - High-energy digital radiography
  • 9.7 POWER
    USE OF NDT TO IDENTIFY STRUCTURAL DEFECTS AND ENSURE OPERATIONAL RELIABILITY TO BOOST MARKET GROWTH
    NUCLEAR POWER PLANTS
    WIND TURBINES
    SOLAR POWER
    FOSSIL FUEL ENERGY PLANTS
    ADVANCED NDT AND INSPECTION TECHNIQUES USED IN POWER VERTICAL
    - Galvano static pulse measurement
    - Ultrasonic pulse echo testing
  • 9.8 OTHER VERTICALS
    MARINE
    MEDICAL & HEALTHCARE
    PLASTICS & POLYMERS
NDT AND INSPECTION MARKET, BY APPLICATION
168
  • 10.1 INTRODUCTION
  • 10.2 FLAW DETECTION
    INCREASING SIGNIFICANCE OF FLAW DETECTION FOR QUALITY CONTROL IN INDUSTRIAL INSPECTIONS TO DRIVE DEMAND
  • 10.3 STRESS AND STRUCTURE ANALYSIS
    RISING IMPORTANCE OF STRESS AND STRUCTURAL ANALYSIS TO IDENTIFY DEFECTS WITHIN STRUCTURE OF TEST OBJECTS TO DRIVE MARKET
  • 10.4 LEAK DETECTION
    ENHANCEMENT OF PIPELINE RELIABILITY USING ADVANCED LEAK DETECTION SYSTEMS TO DRIVE MARKET
  • 10.5 DIMENSIONAL MEASUREMENT
    USE OF DIMENSIONAL MEASUREMENT FOR OBJECT ASSESSMENT AND INSPECTION TO DRIVE MARKET
  • 10.6 PHYSICAL PROPERTIES ESTIMATION
    ADOPTION OF NDT AND INSPECTION TO ASSESS PHYSICAL PROPERTIES OF TESTED OBJECTS TO DRIVE MARKET
  • 10.7 WELD VERIFICATION
    NEED TO ENSURE QUALITY OF WELD IN SEVERE LOADING CONDITIONS TO DRIVE DEMAND
  • 10.8 CHEMICAL COMPOSITION DETERMINATION
    USE OF CHEMICAL COMPOSITION EXAMINATION IN MANUFACTURING PROCESSES FOR QUALITY ASSURANCE TO DRIVE MARKET
    - Plasma emission spectrograph
    - Corrosion resistance testing
  • 10.9 OTHER APPLICATIONS
NDT AND INSPECTION MARKET, BY REGION
176
  • 11.1 INTRODUCTION
  • 11.2 NORTH AMERICA
    NORTH AMERICAN NDT AND INSPECTION MARKET: RECESSION IMPACT
    US
    - Rising defense expenditures and aircraft production to fuel market growth
    CANADA
    - Increasing demand for advanced material testing to drive market
    MEXICO
    - High emphasis on urban mobility and expansion of natural gas pipeline network to fuel market growth
  • 11.3 EUROPE
    EUROPEAN NDT AND INSPECTION MARKET: RECESSION IMPACT
    UK
    - Growth in aircraft export to drive demand
    GERMANY
    - Growing demand for NDT and inspection services and equipment in automotive vertical to drive market
    FRANCE
    - Increased use of NDT and inspection services and equipment in aerospace vertical to fuel market growth
    ITALY
    - Expansion of oil refining capacity and shale gas development to drive market
    REST OF EUROPE
  • 11.4 ASIA PACIFIC
    ASIA PACIFIC NDT AND INSPECTION MARKET: RECESSION IMPACT
    CHINA
    - Rapid infrastructure development and expanding automotive vertical to drive demand
    JAPAN
    - Expanding nuclear power generation sector to propel market
    INDIA
    - Increased demand for NDT equipment and inspection techniques in manufacturing sector to drive market
    REST OF ASIA PACIFIC
  • 11.5 ROW
    ROW NDT AND INSPECTION MARKET: IMPACT OF RECESSION
    MIDDLE EAST
    - High investment in infrastructure development to drive market
    - GCC Countries
    - Rest of Middle East
    AFRICA
    - Booming power vertical to fuel demand
    SOUTH AMERICA
    - Rising demand for NDT equipment and inspection techniques in oil & gas and power verticals to drive market
COMPETITIVE LANDSCAPE
201
  • 12.1 OVERVIEW
  • 12.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS
  • 12.3 MARKET SHARE ANALYSIS, 2023
  • 12.4 REVENUE ANALYSIS, 2019–2023
  • 12.5 COMPANY EVALUATION MATRIX, 2023
    STARS
    PERVASIVE PLAYERS
    EMERGING LEADERS
    PARTICIPANTS
    COMPANY FOOTPRINT
    - Overall footprint
    - Vertical footprint
    - Regional footprint
  • 12.6 STARTUP/SMALL AND MEDIUM-SIZED ENTERPRISE (SME) EVALUATION MATRIX, 2023
    PROGRESSIVE COMPANIES
    RESPONSIVE COMPANIES
    DYNAMIC COMPANIES
    STARTING BLOCKS
    COMPETITIVE BENCHMARKING
    - List of key startups/SMEs
    - Competitive benchmarking of key startups/SMEs
  • 12.7 COMPANY VALUATION, 2022
  • 12.8 FINANCIAL METRICS, 2022
  • 12.9 COMPETITIVE SCENARIOS AND TRENDS
    PRODUCT LAUNCHES
    DEALS
COMPANY PROFILES
227
  • 13.1 INTRODUCTION
  • 13.2 KEY PLAYERS
    GENERAL ELECTRIC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    MISTRAS GROUP
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    OLYMPUS CORPORATION
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    ASHTEAD TECHNOLOGY
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    NIKON METROLOGY NV
    - Products/Solutions/Services offered
    - Recent developments
    - MnM view
    SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    MAGNAFLUX
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    EDDYFI TECHNOLOGIES
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    SONATEST
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
    INTERTEK GROUP PLC
    - Business overview
    - Products/Solutions/Services offered
    - Recent developments
  • 13.3 OTHER PLAYERS
    APPLUS+
    BUREAU VERITAS
    COMET GROUP
    TUV RHEINLAND
    FISCHER TECHNOLOGY INC.
    ACUREN
    CREAFORM
    VIDISCO LTD.
    DEKRA
    TEAM, INC.
    LABQUIP NDT
    CYGNUS INSTRUMENTS LTD.
    FPRIMEC SOLUTIONS INC.
    CARESTREAM HEALTH
    ELEMENT MATERIALS TECHNOLOGY
APPENDIX
298
  • 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
LIST OF TABLES
 
  • TABLE 1 RISK ASSESSMENT
  • TABLE 2 AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER, 2023 (USD)
  • TABLE 3 INDICATIVE PRICING OF PORTABLE FLOW DETECTORS USED IN ULTRASONIC TESTING, BY REGION, 2023 (USD)
  • TABLE 4 COMPANIES AND THEIR ROLES IN NDT AND INSPECTION ECOSYSTEM
  • TABLE 5 PATENTS FILED AND GRANTED
  • TABLE 6 TOP 20 PUBLISHED PATENT OWNERS IN LAST 10 YEARS
  • TABLE 7 NDT AND INSPECTION MARKET: LIST OF MAJOR PATENTS, 2022–2023
  • TABLE 8 EXPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
  • TABLE 9 IMPORT SCENARIO FOR HS CODE 9013-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD THOUSAND)
  • TABLE 10 NDT AND INSPECTION MARKET: KEY CONFERENCES AND EVENTS, 2023–2024
  • TABLE 11 MFN TARIFF LEVIED ON HS CODE 903190-COMPLIANT PRODUCTS EXPORTED BY GERMANY, 2023
  • 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
  • TABLE 16 NDT AND INSPECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
  • TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL (%)
  • TABLE 18 KEY BUYING CRITERIA, BY VERTICAL
  • TABLE 19 MARKET, BY TECHNIQUE, 2020–2023 (USD MILLION)
  • TABLE 20 MARKET, BY TECHNIQUE, 2024–2029 (USD MILLION)
  • TABLE 21 TECHNIQUE: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 22 TECHNIQUE: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 23 TECHNIQUE: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 24 TECHNIQUE: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 25 MANUFACTURING: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 26 MANUFACTURING: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 27 OIL & GAS: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 28 OIL & GAS: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 29 AEROSPACE: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 30 AEROSPACE: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 31 PUBLIC INFRASTRUCTURE: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 32 PUBLIC INFRASTRUCTURE: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 33 AUTOMOTIVE: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 34 AUTOMOTIVE: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 35 POWER: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 36 POWER: MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 37 OTHER VERTICALS: MARKET FOR TECHNIQUE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 38 OTHER VERTICALS:  MARKET FOR TECHNIQUE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 39 ULTRASONIC TESTING: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 40 ULTRASONIC TESTING: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 41 VISUAL TESTING: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 42 VISUAL TESTING: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 43 MAGNETIC PARTICLE TESTING: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 44 MAGNETIC PARTICLE TESTING: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 45 LIQUID PENETRANT TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 46 LIQUID PENETRANT TESTING: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 47 EDDY-CURRENT ARRAY: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 48 EDDY-CURRENT ARRAY: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 49 RADIOGRAPHIC TESTING: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 50 RADIOGRAPHIC TESTING: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 51 ACOUSTIC EMISSION TESTING: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 52 ACOUSTIC EMISSION TESTING: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 53 APPLICATIONS OF TERAHERTZ IMAGING, BY INDUSTRY
  • TABLE 54 APPLICATIONS OF NEAR-INFRARED SPECTROSCOPY, BY INDUSTRY
  • TABLE 55 OTHER TECHNIQUES: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 56 OTHER TECHNIQUES: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 57 MARKET, BY SERVICE, 2020–2023 (USD MILLION)
  • TABLE 58 MARKET, BY SERVICE, 2024–2029 (USD MILLION)
  • TABLE 59 SERVICE: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 60 SERVICE: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 61 SERVICE: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 62 SERVICE: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 63 MANUFACTURING: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 64 MANUFACTURING: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 65 OIL & GAS: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 66 OIL & GAS: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 67 AEROSPACE: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 68 AEROSPACE: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 69 PUBLIC INFRASTRUCTURE:MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 70 PUBLIC INFRASTRUCTURE: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 71 AUTOMOTIVE: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 72 AUTOMOTIVE: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 73 POWER: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 74 POWER: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 75 OTHER VERTICALS: MARKET FOR SERVICE, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 76 OTHER VERTICALS: MARKET FOR SERVICE, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 77 INSPECTION SERVICES: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 78 INSPECTION SERVICES: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 79 EQUIPMENT RENTAL SERVICES: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 80 EQUIPMENT RENTAL SERVICES: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 81 CALIBRATION SERVICES: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 82 CALIBRATION SERVICES: NDT AND INSPECTION MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 83 TRAINING SERVICES: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 84 TRAINING SERVICES:MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 85 MARKET, BY METHOD, 2020–2023 (USD MILLION)
  • TABLE 86 MARKET, BY METHOD, 2024–2029 (USD MILLION)
  • TABLE 87 NDT AND INSPECTION REQUIREMENTS OF DIFFERENT VERTICALS
  • TABLE 88 MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 89 MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 90 MANUFACTURING: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 91 MANUFACTURING: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 92 MANUFACTURING: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 93 MANUFACTURING: NDT AND INSPECTION MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 94 OIL & GAS: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 95 OIL & GAS: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 96 OIL & GAS: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 97 OIL & GAS: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 98 APPLICATIONS OF NDT AND INSPECTION TECHNIQUES IN AEROSPACE VERTICAL
  • TABLE 99 NDT AND INSPECTION METHODS USED IN AEROSPACE VERTICAL
  • TABLE 100 ESSENTIAL NDT AND INSPECTION TECHNIQUES FOR AIRCRAFT MAINTENANCE
  • TABLE 101 AEROSPACE: 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: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 104 AEROSPACE: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 105 PUBLIC INFRASTRUCTURE: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 106 PUBLIC INFRASTRUCTURE: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 107 PUBLIC INFRASTRUCTURE: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 108 PUBLIC INFRASTRUCTURE:  MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 109 ADVANTAGES OF USING DIFFERENT NDT AND INSPECTION TECHNOLOGIES IN AUTOMOTIVE VERTICAL
  • TABLE 110 AUTOMOTIVE: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 111 AUTOMOTIVE: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 112 AUTOMOTIVE: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 113 AUTOMOTIVE: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 114 APPLICATIONS OF NDT AND INSPECTION TECHNIQUES IN NUCLEAR POWER PLANTS
  • TABLE 115 POWER: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 116 POWER: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 117 POWER: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 118 POWER: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 119 OTHER VERTICALS: MARKET, BY TECHNIQUE AND SERVICE, 2020–2023 (USD MILLION)
  • TABLE 120 OTHER VERTICALS: MARKET, BY TECHNIQUE AND SERVICE, 2024–2029 (USD MILLION)
  • TABLE 121 OTHER VERTICALS: MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 122 OTHER VERTICALS: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 123 DIFFERENT TYPES OF ULTRASONIC TRANSDUCERS USED IN FLAW DETECTION
  • TABLE 124 NDT TECHNIQUES TO DETECT STRUCTURAL DAMAGES
  • TABLE 125 LEAK TESTING TECHNIQUES
  • TABLE 126 DIMENSIONAL MEASUREMENT TECHNIQUES
  • TABLE 127 OBJECTIVES OF DIMENSIONAL MEASUREMENTS
  • TABLE 128 OTHER APPLICATIONS OF NDT AND INSPECTION
  • TABLE 129 NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 130  MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 131 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 132 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 133 NORTH AMERICA: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 134 NORTH AMERICA: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 135 EUROPE: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 136 EUROPE: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 137 EUROPE: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 138 EUROPE: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 139 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
  • TABLE 140 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
  • TABLE 141 ASIA PACIFIC: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 142 ASIA PACIFIC: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 143 ROW:MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 144 ROW: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 145 ROW: MARKET, BY VERTICAL, 2020–2023 (USD MILLION)
  • TABLE 146 ROW: MARKET, BY VERTICAL, 2024–2029 (USD MILLION)
  • TABLE 147 MIDDLE EAST: NDT AND INSPECTION MARKET, BY REGION, 2020–2023 (USD MILLION)
  • TABLE 148 MIDDLE EAST: MARKET, BY REGION, 2024–2029 (USD MILLION)
  • TABLE 149 NDT AND INSPECTION MARKET: DEGREE OF COMPETITION
  • TABLE 150 OVERALL COMPANY FOOTPRINT
  • TABLE 151 COMPANY SERVICE FOOTPRINT
  • TABLE 152 COMPANY VERTICAL FOOTPRINT
  • TABLE 153 COMPANY REGION FOOTPRINT
  • TABLE 154 MARKET: DETAILED LIST OF KEY STARTUPS/SMES
  • TABLE 155 MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
  • TABLE 156 MARKET: PRODUCT LAUNCHES, APRIL 2022–NOVEMBER 2023
  • TABLE 157 MARKET: DEALS, JANUARY 2022–NOVEMBER 2023
  • TABLE 158 GENERAL ELECTRIC: COMPANY OVERVIEW
  • TABLE 159 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 160 GENERAL ELECTRIC: PRODUCT LAUNCHES
  • TABLE 161 GENERAL ELECTRIC: DEALS
  • TABLE 162 MISTRAS GROUP: COMPANY OVERVIEW
  • TABLE 163 MISTRAS GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 164 MISTRAS GROUP: DEALS
  • TABLE 165 OLYMPUS CORPORATION: COMPANY OVERVIEW
  • TABLE 166 OLYMPUS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 167 OLYMPUS CORPORATION: PRODUCT LAUNCHES
  • TABLE 168 OLYMPUS CORPORATION: DEALS
  • TABLE 169 ASHTEAD TECHNOLOGY: COMPANY OVERVIEW
  • TABLE 170 ASHTEAD TECHNOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 171 ASHTEAD TECHNOLOGY: PRODUCT LAUNCHES
  • TABLE 172 ASHTEAD TECHNOLOGY: DEALS
  • TABLE 173 NIKON METROLOGY NV: COMPANY OVERVIEW
  • TABLE 174 NIKON METROLOGY NV: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 175 NIKON METROLOGY NV: PRODUCT LAUNCHES
  • TABLE 176 NIKON METROLOGY NV: DEALS
  • TABLE 177 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: COMPANY OVERVIEW
  • TABLE 178 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: PRODUCTS/SOLUTIONS/ SERVICES OFFERED
  • TABLE 179 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: DEALS
  • TABLE 180 MAGNAFLUX: COMPANY OVERVIEW
  • TABLE 181 MAGNAFLUX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 182 MAGNAFLUX: PRODUCT LAUNCHES
  • TABLE 183 EDDYFI TECHNOLOGIES: COMPANY OVERVIEW
  • TABLE 184 EDDYFI TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 185 EDDYFI TECHNOLOGIES: PRODUCT LAUNCHES
  • TABLE 186 EDDYFI TECHNOLOGIES: DEALS
  • TABLE 187 SONATEST: COMPANY OVERVIEW
  • TABLE 188 SONATEST: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 189 SONATEST: PRODUCT LAUNCHES
  • TABLE 190 SONATEST: DEALS
  • TABLE 191 INTERTEK GROUP PLC: COMPANY OVERVIEW
  • TABLE 192 INTERTEK GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
  • TABLE 193 INTERTEK GROUP PLC: PRODUCT LAUNCHES
  • TABLE 194 INTERTEK GROUP PLC: DEALS
  • TABLE 195 INTERTEK GROUP PLC: OTHERS
LIST OF FIGURES
 
  • FIGURE 1 NDT AND INSPECTION MARKET SEGMENTATION
  • FIGURE 2 MARKET: RESEARCH DESIGN
  • FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY PLAYERS FROM 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 MARKET BASED ON REGION
  • FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
  • FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
  • FIGURE 8 DATA TRIANGULATION
  • FIGURE 9 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
  • FIGURE 14 INCREASED DEMAND FOR STRUCTURAL HEALTH MONITORING AND MAINTENANCE OF INFRASTRUCTURE TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
  • FIGURE 15 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2024
  • FIGURE 16 VOLUMETRIC INSPECTION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 17 INDIAN NDT AND INSPECTION MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
  • FIGURE 18 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
  • FIGURE 19 MARKET: IMPACT ANALYSIS OF DRIVERS
  • FIGURE 20 MARKET: IMPACT ANALYSIS OF RESTRAINTS
  • FIGURE 21 MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
  • FIGURE 22 MARKET: IMPACT ANALYSIS OF CHALLENGES
  • FIGURE 23 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
  • FIGURE 24 AVERAGE SELLING PRICE (ASP) OF ULTRASONIC TESTING TECHNIQUES OFFERED BY KEY PLAYER, 2023 (USD)
  • FIGURE 25 MARKET: SUPPLY CHAIN ANALYSIS
  • FIGURE 26 MARKET: ECOSYSTEM MAPPING
  • FIGURE 27 PATENTS APPLIED AND GRANTED, 2014–2023
  • FIGURE 28 NUMBER OF PATENTS PUBLISHED PER YEAR, 2014–2023
  • FIGURE 29 JURISDICTION ANALYSIS, 2013–2022
  • FIGURE 30 TOP 10 PATENT OWNERS, 2014–2023
  • FIGURE 31 COUNTRY-WISE EXPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, 2018–2022 (%)
  • FIGURE 32 COUNTRY-WISE IMPORT DATA FOR HS CODE 9013-COMPLIANT PRODUCTS, 2018–2022 (%)
  • FIGURE 33 NDT AND INSPECTION MARKET: PORTER’S FIVE FORCES ANALYSIS
  • FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VERTICAL
  • FIGURE 35 KEY BUYING CRITERIA, BY VERTICAL
  • FIGURE 36 ULTRASONIC TESTING (UT) SEGMENT TO ACCOUNT FOR LARGEST SHARE OF MARKET IN 2029
  • FIGURE 37 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF  MARKET IN 2029
  • FIGURE 38 VOLUMETRIC INSPECTION SEGMENT TO LEAD MARKET FROM 2024 TO 2029
  • FIGURE 39 POWER SEGMENT TO HOLD LARGEST MARKET SHARE IN 2024
  • FIGURE 40 KEY APPLICATIONS OF NDT AND INSPECTION TECHNIQUES
  • FIGURE 41 MARKET, BY REGION
  • FIGURE 42 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF NDT AND INSPECTION MARKET IN 2029
  • FIGURE 43 NORTH AMERICA: MARKET SNAPSHOT
  • FIGURE 44 EUROPE: MARKET SNAPSHOT
  • FIGURE 45 ASIA PACIFIC: MARKET SNAPSHOT
  • FIGURE 46 MIDDLE EAST TO ACCOUNT FOR LARGEST SHARE OF ROW MARKET IN 2029
  • FIGURE 47 OIL & GAS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF ROW MARKET IN 2029
  • FIGURE 48 MARKET: OVERVIEW OF KEY STRATEGIES ADOPTED BY LEADING PLAYERS, 2021–2023
  • FIGURE 49 MARKET SHARE ANALYSIS, 2023
  • FIGURE 50 NDT AND INSPECTION MARKET: REVENUE ANALYSIS OF FIVE KEY COMPANIES, 2019–2023
  • FIGURE 51 MARKET: COMPANY EVALUATION MATRIX, 2023
  • FIGURE 52 MARKET: STARTUP/SME EVALUATION MATRIX, 2023
  • FIGURE 53 MARKET: COMPANY VALUATION, 2022
  • FIGURE 54 MARKET: FINANCIAL METRICS, 2022
  • FIGURE 55 GENERAL ELECTRIC: COMPANY SNAPSHOT
  • FIGURE 56 MISTRAS GROUP: COMPANY SNAPSHOT
  • FIGURE 57 OLYMPUS CORPORATION: COMPANY SNAPSHOT
  • FIGURE 58 ASHTEAD TECHNOLOGY: COMPANY SNAPSHOT
  • FIGURE 59 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA.: COMPANY SNAPSHOT
  • FIGURE 60 INTERTEK GROUP PLC: COMPANY SNAPSHOT

 

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:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Country-wise Information for Asia Pacific
  • Detailed analysis and profiling of additional market players (up to five)

Previous Versions of this Report

NDT and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Terahertz Imaging, Acoustic Emission), Method, Service, Application, Vertical and Region-Global Forecast to 2028

Report Code SE 2860
Published in Jan, 2023, By MarketsandMarkets™

NDT and Inspection Market with COVID-19 Impact by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Region - Global Forecast to 2025

Report Code SE 2860
Published in Nov, 2020, By MarketsandMarkets™

Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2024

Report Code SE 2860
Published in Mar, 2019, By MarketsandMarkets™

Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2023

Report Code SE 2860
Published in Aug, 2017, By MarketsandMarkets™

Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging), Service, Vertical, and Geography - Global Forecast to 2022

Report Code SE 2860
Published in Jun, 2016, By MarketsandMarkets™

Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging), Service, Vertical, and Geography - Global Forecast to 2022

Report Code SE 2860
Published in Oct, 2014, By MarketsandMarkets™
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Growth opportunities and latent adjacency in NDT and Inspection Market

Daniil

Jan, 2017

I am really interested on NDT, so can you provide me the general information about it and also a market research on NDT in Spain if that is possible..

Dennis

May, 2013

I am interested in the following sections of the report - Gamma Radiography Equipment and Isotopes for Industrial Radiography Inspection. Digital Imaging in Industrial Radiography for CR and DR..

Calum

Aug, 2019

After reviewing several different market research reports, MarketsandMarkets have concluded that the NDT market is much lower than other research institutions by up to 50%. I was wondering if you could highlight why this may be? .

David

Jun, 2016

Could you give me a sample of pages, inspection (page 82 onwards)? It would be very helpful in making a decision on whether to buy..

Tania

Jun, 2019

I am looking for information to support an NDT Inspection Services client in making strategic growth decisions..

Mustafa

Jun, 2019

We need the details of 2019 to 2024 market of Turkey about Advanced NDT methods and conventional NDT methods..

j

May, 2019

This is not a typical area for us, just trying to get a high level understanding of what industrial radiography (only) looks like at the global level. .

clara

Feb, 2016

Can I get more information related to NDT Market, identify top player US and international players, pricing analysis, market share?.

rohit

Feb, 2019

I want to start my business in NDT market. Do you have any discounts for start-ups?.

JAS

May, 2019

I am looking to tap into the NDT rental equipment market in Malaysia but not limited to the Asia region. Any help in the current market information would be great..

Faisal

Dec, 2014

I was wondering if this report could be reorganized or customized to fit the NDT trends in Saudi Arabia. We are interested to learn about the demand in terms of industry, techniques, growth, competition, etc. .

Komal

Nov, 2017

I am interested in the following - 1. market share of UAE alone, 2.market share of NDT companies within UAE. 3. Market share for NDT equipment 4. Market share of NDT services. .

Ahmed

Apr, 2016

Could you please provide data related to the prices of the following equipment; AC Yoke, UT wall thickness, UT Shear wave, Flux inspection equipment & Eddy Current..

Patrick

Dec, 2014

Request a Complimentary Copy of the NDT Report Insights, Key Findings, Drivers, Trends, Program Sources, and Methodology. .

Kiran

Jun, 2019

We are a start up in Kenya for NDT solutions and want to do aerospace and industrial testing. Our scope is east and central Africa, please send us some date..

Kiran

Jun, 2019

We are a start up in Kenya for NDT solutions and want to do aerospace and industrial testing. Our scope is east and central Africa, please send us some date..

Ralf

Jun, 2014

Do you provide any discount for visual inspection Technology only? Details available for visual inspection e.g. video scopes..

Fumi

Feb, 2016

We are a sales agent in Japan. Now we are asked by one of our customers in Japan for quote for the NDT market report (Single User License). If we help the customer to purchase the report, could you give us quote for it, please ? The customer has difficulty to pay directly to foreign companies, therefore, they ask us to obtain the item on behalf of them. As for payment, we will pay by our corporate credit card or remit by wire transfer into your bank account in advance. When we place an order, we will send you a PO by fax if required..

Carlos

Aug, 2016

We are interested in your report on Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission, Terahertz Imaging), Service, Vertical, and Geography - Global Forecast to 2022 .

Rajeev

May, 2019

Please share the PDF file of NDT market for us to evaluate the suitable technology..

alexandros

Jan, 2015

I am interested in the following - Non-Destructive Testing Equipment & Services Market by Contact Methods (Ultrasonic, Eddy Current, Electromagnetic, Liquid Penetrant), Non-Contact (Radiography, Thermography, Visual Testing), Services (Inspection, Rental, Training, Consultation).

AURORA

Dec, 2017

I am interested in the following - Pulse Reflectometry Technology, Acoustic Pulse Recognition (APR), global market analysis, current trends and future growth potential. NDT tech applications in new sectors, cross-industry applications, and potential revenues..

Ann

Nov, 2016

Our focus is on most granular data available. Ideally view on supplier landscape (competitive research) in Power gen. Focus on wind, nuclear, gas… Can you provide a free sample of the report?.

Sharon

Nov, 2019

We are looking for testing service market size of "corrosion" vs. "welding/construction" as % of NDT market in North America. Do you have this type of breakdown?.

Olawale

Nov, 2019

Kindly assist with a copy of Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2023.

KIM

Oct, 2019

I'd like to have some information which is NDT inspection market size. Especially, I want to know RT(Radiographic testing) application market information..

Lee

Sep, 2019

We would like to know NDT market situation in Kazakhstan. Specifically we would like to know NDT market information of NDT flat panel detector in Kazakhstan. .

Telmo

Sep, 2019

What all have you covered under NDT by technique section? Can you provide more details?.

Walid

Sep, 2018

I'm interested in the following sections: Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission.

Ruben

Aug, 2016

I am preparing a business plan, and want to know the movement or the world market for my business and NDT market..

Dean

Aug, 2016

I am interested in the applications part of NDT market. Do you provide only that section?.

Laurence

Aug, 2018

Our focus is on Eddy current NDT primarily. Can we get a pdf brochure of the NDT report?.

Matt

Jul, 2019

I'm looking to better understand the size and structure of the NDT market and would appreciate a sample of this report before committing to the full report..

Volker

Jul, 2016

We are looking for some information on Market by Non-Contact (Radiography, Thermography, Visual Testing), Services (Inspection, Rental, Training, Consultation), Application & Geography - Analysis & Global Forecast to 2013 - 2020.

SAGAR

Jun, 2018

I am looking for cheaper solutions for NDT equipment and accessories, list of manufacturers in India and NDT work force solutions..

RIVELINO

Jun, 2017

I am interested in your NDT report. I see that it is a worldwide report but the point it is that I am only interested of Mexico which I am located. Does it include the customers list directory per industry as well? Is it possible to buy only the Mexico section of your report? In case of positive, could you please let me know the cost?.

Humphrey

Jun, 2019

I am working on SAM for NDT & Inspection in Sub-Sahara Africa and looking for material to help my forecast..

Robert

May, 2015

I would like to better understand the services analysis to assure this product is appropriate for our use..

peter

Apr, 2015

I am interested in the phase array method, eddy current testing method and a whole overview of the NDT services..

surendran

Apr, 2018

Can I get more information about Pulsed eddy current, ACFM, In-Line inspection, Robotic online tank inspection, Infrared thermography?.

Wilson

Apr, 2017

I am looking for information about the NDT application and their automatization. Investment impact and cost-benefit are my focus point..

Nick

Apr, 2019

Looking for the biggest companies by market share for both Germany and Europe would be helpful. Also the market volumes of both Regions in total and for each technological category (Ultrasonic testing, eddy current,..).

Marc

Apr, 2016

Specifically want examples of sales figures of penetrant testing equipment world wide, Europe & UK 2014 on wards .

Spencer

Feb, 2017

I am a student doing an industry report project on the NDT industry. Access to this report would help me understand and gain more knowledge on this industry..

John

Jan, 2015

I am interested in understanding the NDT market size in dollar value for each country in Asia. If this information is sufficient we may consider buying the entire document to assist with expansion planning. .

sreelal

Jan, 2019

Looking forward for Visual Inspection Standards evolution in Gas Turbine Industry and Additive Mfg. inspection for the same..

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