Non Destructive Inspection Equipment Market Share

Increasing adoption of non-destructive testing (NDT) in the aerospace sector drives non-destructive inspection equipment market growth

Non-destructive testing (NDT) is a cutting-edge technology for detecting and evaluating material flaws. Destructive testing is used to identify aircraft component qualities such as fracture toughness, tensile strength, and flexibility. NDT is essential in the aerospace sector for designing, manufacturing, and servicing aircraft. It is the most precise approach for testing aircraft components and materials without destroying them. The aircraft sector demands the highest structural, material, and performance standards. 

According to a survey by an aviation consulting business, the rate of fatal accidents for large commercial jets was 0.3 per million flights in 2018, and it has since dropped to 0.18 accidents per million flights in 2019. NDT is a common testing method for inspecting aircraft parts and components before assembly. Aircraft components are especially susceptible to fatigue cracks, which can expand over time.

Almost 80% of inspections in aircraft worldwide are performed using the visual inspecting testing approach to find damage symptoms. However, various testing methods and procedures are gaining momentum in examining an aircraft component, including acoustic emission testing, liquid penetration, electromagnetic testing, radiography, ground penetration, magnetic particle, and eddy-current testing. The availability and increased usage of excellent non-destructive inspection technologies for detecting fractures, faults, and leaks in an aircraft's system, components, and parts will drive future market CAGR growth.

The NDT approach incorporates R&D processes, training, and service-based supply chains in the oil, gas, automotive, and power industries. This technology is used in the oil & gas industry to inspect pipeline internal and external corrosion. NDT inspects pressure systems and steam and gas turbines in the power sector. In nuclear power plants, this approach is utilized to inspect fuel rods, tiny valves, waste containers, and waste management equipment. 

As a result, increased demand for NDT methods in the oil, gas, and power industries further boosts the non-destructive inspection equipment market revenue. For example, in October 2020, Novosound introduced new advanced NDT product series such as Belenus, Kelpie, and Nebula. These devices simplify NDT inspections and save downtime in the oil & gas, energy, aerospace, and renewables industries.

The aging infrastructure in developed nations is a pressing concern that is influencing the Global Non-Destructive Inspection Equipment Market Industry. Many countries face the challenge of maintaining and upgrading their infrastructure, which requires regular inspections to identify potential weaknesses. For instance, the United States has initiated various programs aimed at assessing the condition of bridges and roads, utilizing non-destructive testing methods. This focus on infrastructure maintenance is likely to drive demand for non-destructive inspection equipment, as stakeholders seek to ensure safety and longevity in aging structures, thereby contributing to market growth.

Regulatory compliance plays a crucial role in the Global Non-Destructive Inspection Equipment Market Industry, as various sectors are mandated to adhere to stringent safety and quality standards. Industries such as aerospace, automotive, and oil and gas are particularly affected by these regulations, which necessitate regular inspections to prevent failures and ensure operational integrity. The increasing emphasis on safety protocols is driving the demand for non-destructive inspection equipment. This trend is expected to contribute to the market's growth, with projections indicating a rise to 6.14 USD Billion by 2035, as companies invest in compliance-driven inspection technologies.

The Global Non-Destructive Inspection Equipment Market Industry is experiencing a surge in technological advancements, particularly in imaging and sensing technologies. Innovations such as digital radiography and advanced ultrasonic testing are enhancing inspection accuracy and efficiency. For instance, the integration of artificial intelligence in data analysis is streamlining the inspection process, allowing for quicker decision-making. This trend is likely to drive market growth, as industries increasingly adopt these advanced technologies to ensure safety and compliance. As a result, the market is projected to reach 3.19 USD Billion in 2024, reflecting a growing demand for sophisticated inspection solutions.

Increased investment in research and development is fostering innovation within the Global Non-Destructive Inspection Equipment Market Industry. Companies are allocating resources to develop new inspection technologies and improve existing methods, which is essential for maintaining competitive advantage. For example, advancements in portable inspection devices and automated systems are being prioritized to enhance efficiency and user-friendliness. This commitment to R&D is expected to yield new solutions that meet the evolving needs of various industries, thereby driving market growth and ensuring that the sector remains at the forefront of technological advancements.

Emerging markets are witnessing a notable increase in the adoption of non-destructive inspection technologies, significantly impacting the Global Non-Destructive Inspection Equipment Market Industry. Countries in Asia-Pacific and Latin America are expanding their manufacturing and infrastructure sectors, leading to heightened demand for reliable inspection solutions. For example, the rapid growth of the construction industry in India and Brazil is driving investments in non-destructive testing to ensure structural integrity. This trend suggests a robust market expansion, with a projected CAGR of 6.13% for the period from 2025 to 2035, as these regions increasingly prioritize quality assurance.

Leading market players in the Non-Destructive Inspection Equipment Market are actively investing in R&D activities to expand their products and services portfolios and drive market growth. These market leaders also participate in proactive measures such as new product releases, mergers & acquisitions, increased investments, contractual agreements, and collaborations with other organizations to grow their global footprint and achieve a competitive advantage. Key market developments in the global non-destructive inspection equipment industry include technical breakthroughs, increased demand from numerous end-use industries, and an increasing focus on safety requirements and quality control.

Major players in the non-destructive inspection equipment market, such as Baker Hughes, GE Inspection Technologies, Olympus Corporation, YXLON International GmbH, Sonatest Ltd, and Zetec Inc, are investing extensively in research and development operations to enhance global market demand. 

Key companies in the non-destructive inspection equipment industry also focus on customization and application-specific solutions to meet the unique requirements of various sectors, including aerospace, automotive, oil & gas, manufacturing, and construction, all of which are major end-users of non-destructive inspection equipment. These businesses leverage local product manufacturing to reduce operational costs, increase consumer value, and gain an edge in the non-destructive inspection equipment industry.

Baker Hughes Company is a leading energy and industrial solutions provider. The company's product range comprises drilling equipment, compressors, subsea production systems, electricity generators, pipe systems, energy recovery & storage systems, control systems, regulators, valves, pumps, and process control technologies. It also provides sensor-based process measurement, non-destructive testing & inspection, plant controls, and pipeline integrity solutions. It caters to independent oil & gas enterprises and national or state-owned oil companies. It has research and manufacturing centers in India, Singapore, Australia, Malaysia, Dubai, Italy, Norway, Saudi Arabia, Germany, Oklahoma, Louisiana, and Missouri, among other places. 

Baker Hughes is based in Houston, Texas, in the United States. Baker Hughes announced the introduction of Veo+ Edge, a next-generation ultrasonic phased array testing system for non-destructive inspection, in September 2021. This cutting-edge inspection equipment allows for faster, more precise, and more efficient inspections of essential assets such as pipelines, vessels, and tanks. Veo+ Edge has increased imaging capabilities and data analysis features, allowing operators to discover faults and abnormalities more precisely, save inspection time, and optimize asset integrity management techniques.

Olympus Corporation is a Japanese firm that manufactures optical and digital precision equipment and instruments. The company designs, manufactures, and sells healthcare, medical, imaging, information, and other industrial equipment. It also provides services for biological materials and system development. The corporation operates across the Americas, Europe, and Asia-Pacific through its subsidiaries and facilities. 

Olympus Corporation introduced the 72DL PLUS ultrasonic thickness gauge in March 2022. It provides high-speed, precise thickness measurements in a portable, user-friendly device. The gauge can measure the thickness of very thin layers for complex applications across various industries to its rapid scanning, advanced algorithms, and lowest-ever minimum thickness capability from Olympus.