BANGALORE, India, Sept. 26, 2022 /PRNewswire/ — Non-Destructive Testing (NDT) Market is Segmented By Type (Ultrasonic, Radiography, Liquid Penetrant, Magnetic), By Application (Oil & Gas, Aerospace & Defense, Automotive, Infra) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Electronics & Electrical Category.

Non-Destructive Testing (NDT) Market size is projected to reach USD 2741.8 million by 2028, from USD 1915.2 million in 2021, at a CAGR of 5.2% during 2022-2028.

Major Factors Driving the Growth of Non-Destructive Testing (NDT) Market

Due to the rising need to upgrade the existing aging infrastructure and the rising need for new infrastructures, the Non-Destructive Testing (NDT) market is expanding.

During the forecast period, the non-destructive testing (NDT) market is expected to grow because of the increase in manufacturing operations in both developing and developed countries. Modern NDT techniques with enhanced fault identification and safety have been developed as a result of technological advancements. In the upcoming years, it is anticipated that further adoption of NDT techniques would result from manufacturers being more aware of their applications.

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TRENDS INFLUENCING THE GROWTH OF THE NDT MARKET

Pipelines must be properly maintained and upheld, and the oil and gas business is responsible for doing so. This sector is subject to a number of industry-specific rules, laws, and regulations. NDT is essential for the integrity of equipment and the security of petroleum extraction and refining processes in the oil and gas industry. Using ultrasonic and eddy current NDT testing technologies, welds and metals must be carefully inspected for faults and corrosion in order to keep potentially dangerous chemicals and fluids properly confined within pipes and pressure vessels. NDT is used in many different areas of the oil and gas sector. Successful ultrasonic and eddy current oil and gas upstream solutions are required to operate a petroleum extraction operation that is safe, effective, and profitable, whether it is on land or offshore. This factor is expected to drive the Non-Destructive Testing (NDT) market growth.

The growing need for NDT in Aerospace is expected to drive the growth of the Non-Destructive Testing (NDT) market. Catastrophic failures can result from the construction of aerospace components with defects and inconsistencies. This puts a huge deal of money and the operators’ health and lives in danger. Through every stage of production, materials, parts, and components must be examined for safety and dependability by utilizing a wide range of inspections. Non-destructive testing (NDT) is a crucial part of attempts to reduce the risk of potentially disastrous failures in the aerospace sector.

Nondestructive testing technology is a crucial tool in the automotive sector for enhancing the quality control of vehicles. This in turn is expected to drive the Non-Destructive Testing (NDT) market. The technology is now being used in a number of automotive industries, including manufacturing, R&D, maintenance, etc. Modern automotive production innovations necessitate the use of new or modified nondestructive inspection techniques. This applies to both the car’s actual body and all of its mounted parts.

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NDT MARKET SHARE ANALYSIS:

The ultrasonic testing sector is anticipated to experience the fastest CAGR growth. The dominance is a result of the growing use of UT techniques for composites and pipeline corrosion, mapping applications, weld inspection, and general pipe screening coverage.

With a revenue share above 36.0% in 2021, North America became the dominant region. This is credited to the widespread use of NDT techniques, the accessibility of a qualified workforce, and the abundance of non-destructive testing training facilities in the area.

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Key Companies:

• Olympus
• MISTRAS
• INTERTEK
• SGS
• GE MEASUREMENT & CONTROL
• NIKON METROLOGY
• ASHTEAD TECHNOLOGY
• SONATEST
• BOSELLO HIGH TECHNOLOGY
• Fujinon

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SIMILAR REPORTS:

–  X-ray Non-destructive Testing Equipment market size is estimated to be worth USD 1418 million in 2021 and is forecast to a readjusted size of USD 1418 million by 2028 with a CAGR of 6.2% during the review period.

–  Non-destructive Testing Radiography Equipment market size is estimated to be worth USD 1791.7 million in 2021 and is forecast to a readjusted size of USD 1791.7 million by 2028 with a CAGR of 6.3% during the review period.

–  Surface Inspection market size is projected to reach USD 3050.3 million by 2028, from USD 2236.8 million in 2021, at a CAGR of 4.5% during 2022-2028.

–  Heavy construction Equipment market size was valued at USD 176.2 billion in 2020 and is projected to reach USD 273.5 billion by 2030, registering a CAGR of 4.4% from 2021 to 2030.

–  The global Distributed Acoustic Sensing (DAS) market size is estimated to be worth USD 553.8 million in 2022 and is forecast to a readjusted size of USD 1002.6 million by 2028 with a CAGR of 10.4% during the review period.

–  The global Fiber Optic Components market size is estimated to be worth USD 15910 million in 2022 and is forecast to a readjusted size of USD 25250 million by 2028 with a CAGR of 8.0%.

–  The global Fiber Optics market size is projected to reach USD 15630 million by 2027, from USD 9247 million in 2020, at a CAGR of 7.8% during 2021-2027.

–  The global Fiber Optics Cable market size is projected to reach USD 7716.8 million by 2028, from USD 4994.5 million in 2021, at a CAGR of 6.3% during 2022-2028.

–  The global Distributed Temperature Sensing market size is projected to reach USD 719.3 million by 2028, from USD 532.4 million in 2021, at a CAGR of 4.3% during 2022-2028.

–  The global Fiber Optics Gyroscope market size is estimated to be worth USD 804.9 million in 2022 and is forecast to a readjusted size of USD 956.9 million by 2028 with a CAGR of 2.9%.

–  Distributed Fiber Optic Sensor (DFOS) market size is estimated to be worth USD 598.6 million in 2022 and is forecast to a readjusted size of USD 987.4 million by 2028 with a CAGR of 8.7% during the forecast period 2022-2028.

–  Industrial Services market size is projected to reach USD 32300 million by 2027, from USD 28360 million in 2020, at a CAGR of 4.4% during 2021-2027.

–  Manufacturing Execution System (MES) market size is estimated to be worth USD 12550 Million in 2022 and is forecast to a readjusted size of USD 19270 Million by 2028 with a CAGR of 7.4% during the review period.

–  Artificial Intelligence in Manufacturing market size is projected to reach USD 28030 Million by 2027, from USD 1688.4 Million in 2020, at a CAGR of 49.3% during 2021-2027.

–  Plastic Contract Manufacturing market size is projected to reach USD 30570 Million by 2027, from USD 22940 Million in 2020, at a CAGR of 3.7% during 2021-2027.

–  3D Scanner market size is estimated to be worth USD 3738.7 million in 2022 and is forecast to a readjusted size of USD 7379.5 million by 2028 with a CAGR of 12.0% during the review period.

–  Industrial Fasteners market size is estimated to be worth USD 78810 million in 2022 and is forecast to a readjusted size of USD 113710 million by 2028 with a CAGR of 6.3% during the review period.

–  Industrial Controls and Factory Automation market size is projected to reach USD 208150 million by 2027, from USD 128090 million in 2020, at a CAGR of 7.2% during 2021-2027.

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