Non-Destructive Testing (NDT) Service Market outlook with industry review and forecasts
Category: #Technology  By Rahul Varpe  Date: 2021-03-26
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Non-Destructive Testing (NDT) Service Market outlook with industry review and forecasts

Non-Destructive Testing (NDT) Services Market to accumulate commendable returns via ultrasonic inspection testing technology segment over 2019-2025, Europe to be the chief growth avenue

Owing to the evolving demands of the industrial & manufacturing sectors, the growth trajectory of the non-destructive testing (NDT) services market is witnessing an optimistic change over the recent years. The need for agile and highly-efficient inspection equipment has been escalating lately as the valuable assets of numerous business verticals are aging and require tough inspection regimes to stay relevant in the long run. Global manufacturing firms are adopting NDT services to sustain their utilization rates and growth momentum - a factor that has fueled the NDT services market trends.

Taking stock of how ultrasonic inspection testing has turned out to be the most lucrative technology segment of NDT services market

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When it comes to the types of technology being used in the NDT services, it is imperative to note that this industry has been proactive in its adoption of modern technologies such as artificial intelligence and Internet of Things (IoT). This technological integration has assisted NDT services market to make inroads in numerous business verticals such as aerospace and energy.

Among all the technology types of the NDT services, ultrasonic inspection testing has emerged as the most prominent technology segment owing to the product enhancement activities undertaken by prominent market players. Here are two of the major product launches that underscore the significance of research activities and the increasing pace of transformation being witnessed across various inspection systems:

Manufactured by Eddyfi Technologies, Silverwing R-Scan is the latest handheld portable B-Scan inspection equipment which intends to improve the probability of detection and data quality of ultrasonic inspection regimes. It is able to inspect tanks where a remote and automated crawler along the likes of scorpion2 system cannot be utilized. Assisted by the ultrasonic data acquisition software, the new battery-operated inspection system is also able to measure wall thicknesses between 2.5 mm and 100 mm. Apparently, it has to be noted that the floating gates functionality enables high quality thickness measurement which, in turn, enhances accuracy by tacking signal amplitude.

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A new testing laboratory has been recently unveiled in United Kingdom by material testing services provider Element. Spread across 20,700 square foot, the new lab would be a center for excellence for NDT and inspection research and would prove beneficial for the customers from the aviation and oil & gas industries. The lab would also be a crucial center of excellence in the region's ongoing industrial revolution as it will be located in the vicinity of Advanced Manufacturing Innovation District of Sheffield.

With the launch of inspection systems such as Silverwing R-Scan, it is quite prudent to state the addition of agile, advanced, and portable inspection systems would not only add stealth to the ultrasonic inspection testing product range but would also improve the productivity levels. Moreover, the establishment of research centers or testing laboratories would further propel the growth prospects of the global NDT services industry in the upcoming years.

Speaking of the growth momentum acquired by the NDT services market in geographical terms, Europe has been a leading investment avenue owing to the stringent regulatory guidelines enforced by European Union mandating the usage of NDT services across different business sectors. Apparently, these regulations have essentially focused on ensuring product and employee safety as the region is home to numerous well-known firms such as Intertek, SGS, and Bureau Veritas. All these factors have created humongous growth opportunities for the Europe NDT services market which apportioned more than 30 percent of the revenue share of this industry in the year 2018, as per a comprehensive study undertaken by Global Market Insights, Inc.

In the hindsight, it can certainly be said that NDT services are anticipated to enable decentralized decisions and information transparency in the manufacturing processes which would be followed in Industry 4.0. Moreover, these services would prove to be crucial in eliminating obsolete formats and enhance productivity levels owing to the increasing need for inspection. Most notably, the evolving demands of the industrial sector, the rising number of disruptive innovations, and the effect of integrating new-age technologies such as AI and IoT are set to transform the way NDT services industry would function in the times to come.

Table Of Content

Chapter 1. Methodology & Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope

1.1.5. Definitions

1.1.6. Methodology & forecast parameters

1.2. Data Sources

1.2.1. Secondary Paid sources Public sources

1.2.2. Primary

Chapter 2. Executive Summary

2.1. NDT service industry 360º synopsis, 2014 - 2025

2.2. Business trends

2.3. Regional trends

2.4. Method trends

2.5. Technology trends

2.5.1. Ultrasonic inspection services trends

2.5.2. Radiography testing services trends

2.5.3. Eddy-current testing services trends

2.6. End-use trends

Chapter 3. NDT Service Industry Insights

3.1. Introduction

3.2. Industry segmentation

3.3. Industry landscape, 2014 - 2025

3.4. Industry ecosystem analysis

3.5. Market evolution

3.6. Regulatory landscape

3.7. Technology and innovation landscape

3.8. Use cases

3.9. Industry impact forces

3.9.1. Growth drivers Globalization Aging infrastructure Outsouricng of NDT services Stringent governemnt regulations associated with safety and quality control Increasing use of advance materials Rising incidences of corrosion from low quality products

3.9.2. Industry pitfalls & challenges Lack skilled professionals Complex nature of global supply chain

3.10. Growth potential analysis

3.11. Porter’s analysis

3.12. PESTLE analysis

About Author

Rahul Varpe    

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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