Growth opportunities and latent adjacency in Non-Destructive Testing (NDT) Market by 2022

The Non-Destructive Testing Market is estimated to be USD 15.06 billion in 2016 and is projected to reach USD 24.23 billion by 2022, at a CAGR of 8.24% from 2016 to 2022. Growth in this market is mainly attributed to the development of advanced automated non-destructive testing equipment, strict safety regulations formulated by governments, the need to preserve aging infrastructure, new infrastructure projects, and rapidly growing transportation industry in G7 nations and BRICS countries.

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Phased array technology, time of flight diffraction, and guided wave ultrasonic testing are the latest technological advancements in the non-destructive testing industry. Computed tomography (CT), computed radiography, and customized digital X-ray testing exhibit a huge potential for growth in the non-destructive testing market. 3D computer tomography allows detection of flaws such as cavity shrinkages and gas pores, along with geometrical determination of wall thickness and casting defects. Thermal modelling and pulsed phase thermography techniques are used prevalently for the detection and repair of anomalies in composites. Technological advancements such as non-destructive testing sensor technology and inspection software for asset assessment are helpful in accelerating the demand for non-destructive testing asset protection solutions in various application areas, such as automotive and aerospace industries. Cloud computing, robotics, and Industrial Internet of Things are the emerging trends in the non-destructive testing market.

Key players in this market include MISTRAS Group, Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), and SGS S.A. (Switzerland).

Based on method, the ultrasonic testing segment of the non-destructive testing market is projected to grow at the highest CAGR from 2016 to 2022. Ultrasonic testing method helps detect depth of internal flaws and determine thickness of parts in a more efficient manner in comparison to other non-destructive testing methods. Time-of-flight diffraction ultrasonic testing systems, phased array ultrasonic systems, laser ultrasonic systems, and guided wave ultrasonic testing are the most commonly used advanced ultrasonic non-destructive testing methods in manufacturing, aerospace, infrastructure, power generation, automotive, and transportation sectors.

Based on end user, the aerospace & defense segment is projected to grow at the highest CAGR from 2016 to 2022. The complex technology and structural characteristics of aerospace components are responsible for the extensive use of non-destructive testing techniques in the aerospace & defense sector, as NDT helps ensure safety and efficiency in the production process of these components.

The non-destructive testing market in BRICS countries, namely, Brazil, Russia, India, China, and South Africa is expected to grow at the highest CAGR from 2016 to 2022. Extensive investments in shale oil & gas exploration as well as civil infrastructure, and increasing investments in the nuclear power generation industry are key factors driving the growth of the non-destructive testing market in BRICS countries. In addition, rising demand for NDT techniques from manufacturing industries, such as automotive, oil & gas, transportation, and aerospace & defense has further contributed to the growth of this market in BRICS.

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