The report "Global Non-Destructive Testing Market In Aerospace and Defence, By Type (Service and Equipment), By Technology (Radiography Testing and Ultrasonic Testing, Magnetic Particle Testing and Electromagnetic Testing, Liquid Penetrant Testing, Visual Inspection, and Eddy Current), and Region - Global Forecast to 2030" Global non-destructive testing market in aerospace and defence grow up to the US $ 2.8 billion in 2020. The rise in investment in the aerospace and defence by the government is the major propelling factor for the growth of the global market. Additionally, the increasing complexity of the infrastructure and machine to rise in scale and capability of industrial machines and infrastructure is another driving factor for the growth of the target market. Nevertheless, the growing need for advanced non- destructive testing solution can create an opportunity for the growth of the global market.
Key Market Insights from the report:
The global non-destructive testing market in aerospace and defence accounted for US $2.8 billion in 2020 and is projected to register a moderate CAGR of 10.60% over the forecast period. The market report has been segmented based on type, technology, and region.
· By type, The Equipment is the dominating segment in the target market due to equipment provides more safety and support to the automation
· By technology, Radiography testing is the dominating segment due to it enable product reliability, providing the information to prevent accidents and save a life
· By region, the market in the North America region is blooming the target market because North America is the leader in the aerospace and defence sector.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Non-Destructive Testing Market In Aerospace and Defence”, By Type (Service and Equipment), By Technology (Radiography Testing and Ultrasonic Testing, Magnetic Particle Testing and Electromagnetic Testing, Liquid Penetrant Testing, Visual Inspection, and Eddy Current), and by Region – global forecast till 2030
Key Highlights:
· In 2017, Mistras Group acquired West Penn Non- Destructive Testing LLC to provide the wide variety of the non- destructive testing services at the in- house facilities which focused on aerospace customers.
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The prominent player operating in the global non-destructive testing market in aerospace and defence includes Mistras Group, Fujifilm NDT Systems, GE Measurement and Control, Magnaflux Corporation, Nikon Metrology, Inc., Olympus Corporation, SGS Group, Intertek Group PLC, Applus Services, S.A., Yxlon International GmbH
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COVID-19 Impact Analysis on Non-Destructive Testing Instruments Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the non-destructive testing instruments market include Gеnеrаl Еlесtrіс, Оlуmрuѕ Соrроrаtіоn, Міѕtrаѕ, Nіkоn, Маgnаfluх, YХLОN, Fuјіfіlm, Ѕоnаtеѕt, Zеtес, Іnс., Воѕеllо Ніgh Тесhnоlоgу ѕrl and Unіоn.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Non-Destructive Testing Instruments Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/non-destructive-testing-instruments-market/download-sampleMarket DynamicsThe market is mainly driven by strict rules imposed by various governments regarding public safety and quality of the product.
Further, growing construction activities across the globe and rising demand for electricity due to rapid urbanization and the growing population bolstered the demand over the forecast period.
However, high initial investment costs may hamper the market to some extent.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The global non-destructive testing market size is projected to reach USD 13.30 billion by the end of 2027.
According to a report published by Fortune Business Insights, titled “Non-Destructive Testing (NDT) Market Size, Share & COVID-19 Impact Analysis, By Technique (Ultrasonic Testing, Visual Inspection Testing, Magnetic Particle Testing, Liquid Penetrant Testing, Eddy-Current Testing, Radiographic Testing, and Acoustic Emission Testing) By Method (Visual Inspection, Surface Inspection, Volumetric Inspection, and Others), By Service (Ultrasonic Inspection, Equipment Rental Services, Calibration Services, and Training Services), By Vertical (Manufacturing, Oil & Gas, Aerospace, Public Infrastructure, Automotive, Power Generation, and Others)and Regional Forecast, 2020-2027,” the market was worth USD 8.42 billion in 2019 and will exhibit a CAGR of 9.25% during the forecast period, 2020-2027.Non-destructive testing is an advanced method that is primarily used to detect and evaluate several defects in materials that are used in aerospace industry.
The rise of the aerospace industry in the past few years has created several growth opportunities for the companies operating in the global NDT market.
Subsequently, the presence of several large scale companies in the United States will have a huge impact on the growth of the regional market.
As of 2019, the market in North America was worth USD 3.09 billion and this value is projected to increase further in the coming years.
List of the Leading Companies Profiled in the Global Non-destructive Testing Market are:Acuren Inspection Inc. (The U.S.)Ashtead Technology (The U.K.)Bosello High Technology Srl (Italy)Cygnus Instruments Ltd (The U.K.)Eddyfi (Canada)Fischer Technology Inc. (The U.S.)Fprimec Solutions Inc. (Canada)General Electric (The U.S.)Ipromar Pte Ltd (Singapore)Labquip NDT Limited (The U.K.)LynX Inspection (Canada)Magnaflux Corporation (The U.S.)Mistras Group (The U.S.)NDT Global GmbH & Co. Kg (The U.S.)Nikon Metrology (Japan)Olympus Corporation (Japan)Sonatest Ltd. (The U.K.)TD Williamson, Inc. (The U.S.)YXLON International GmbH (Denmark) Industry Developments:June 2019: Testia announced the launch of a latest version of its ultrasonic testing device named as a smart UE1 device.
