Ultrasonic non-destructive testing (NDT) is a technique of determining the physical attributes of a test piece such as impact resistance, ductility, ultimate tensile strength, fracture toughness, and others. The Ultrasonic NDT equipment market incorporates high-frequency sound waves for flaw evaluation or detection, dimensional measurements, material characterization, and more. Rapid growth in industrialization and urbanization has generated extensive demand for advanced technology in various verticals, leading to the development of ultrasonic non-destructive testing equipment market on the worldwide level. Market Research Future (MRFR) has published an exhaustive study stating that the worldwide market for ultrasonic non-destructive testing device may attain USD 2.47 bn by the conclusion of 2023. It can grow at a remarkable CAGR of 9.87% from 2017 to 2023 (assessment period). As a well-established non-destructive testing technology, the ultrasonic NDT device has found its prominence in aluminum and steel, manufacturing, oil and gas, defense and aerospace sectors. Along with alloys and metals, the ultrasonic NDT equipment can also be applied on wood, composites, and concrete, making it serviceable in the construction sector. Implementation of ultrasonic NDT device in all these verticals is acting as a propelling force for the worldwide ultrasonic non-destructive testing equipment market. The development of the automotive industry and strict safety standards are further encouraging the expansion of worldwide Ultrasonic NDT Equipment Market. The key players in the worldwide ultrasonic NDT equipment market are launching innovative techniques such as integration of wireless sensor networks with the ultrasonic NDT device. These upgradations are propelling the expansion of global ultrasonic NDT market. The rise of new opportunities for oil and natural gas sector has given rise to infrastructural developments which have surged the need for pipelines that are tested regularly by means of ultrasonic NDT equipment. Surging power consumption, increasing population, industrialization and urbanization are some of the significant aspects that are estimated to propel demand for the ultrasonic NDT equipment in the market. However, lack of skilled operators to conduct the test with correct reference standards and detailed interpretation of the outcomes coupled with growth in pipeline sabotage risks are likely to restrict the growth of the worldwide ultrasonic non-destructive testing equipment market.
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The innovative products and progressive initiatives launched by the key players in the worldwide ultrasonic NDT equipment market is estimated to surge the competition among the key players. During April 2018, Sonatest (U.K.) had introduced a new software for their equipment to offer higher resolution results along with other remarkable attributes. The prominent players dominating the global ultrasonic NDT equipment market include Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Danatronic (U.S.), Sonatest (U.K.), James Instruments (U.S.), Eddyfi (Canada), PaR systems (U.S.), NDT Systems (U.S.), Trinity NDT (India), and Qualitest International (Canada) among others.
The worldwide ultrasonic non-destructive testing equipment market has been bifurcated on the basis of regions and end-users. On the basis of end-users, the ultrasonic NDT device market has been classified into power generation, oil and gas industry, defense sector, automotive, transportation, and aerospace industry.
On the basis of region, the worldwide ultrasonic NDT equipment market has been categorized into Asia-Pacific, Europe, North America, and the rest of the world. Owing to the development of investment in oil and gas vertical and swift adoption of progressive technology for safety purposes in North America, this market is witnessed to be ruling the global ultrasonic NDT equipment market. Europe has been estimated to follow North America in the worldwide ultrasonic NDT equipment market. Surging population, infrastructural development, and energy consumption in the emerging economies of Asia-Pacific market are propelling the ultrasonic NDT equipment sector in this region.
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