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Despite the financial meltdown and the subsequent decline in inspection budgets, the global nondestructive testing (NDT) equipment market is poised to continue growth at a steady marginal rate through the next few years, driven by stringent quality standards, according to “Nondestructive Test Equipment: A Global Strategic Business Report” from Global Industry Analysts, Inc. (GIA).
With customers increasingly concerned about the residual lifetime of assets and production quality, interest in test solutions that identify defects and provide early warnings to avoid adverse consequences is on the rise. Market acceptance, awareness and implementation of NDT are progressively increasing.
The global market for surface inspection equipment is growing steadily, with European and North American producers representing the majority of end-users. The North American market for surface inspection equipment is expected to grow, primarily due to the demand for replacing the existing automated systems and equipment. The European market is also set to enhance its market share, as manufacturing activity is being shifted from Western to Eastern Europe, thus resulting in a steady demand for equipment. The Asia-Pacific market, with its current potential as a production base of the world, is exhibiting tremendous growth and is expected to continue with this growth for the next few years.
The NDT equipment market is rising and is experiencing rapid growth potential, with increasing quality and security standards in various industries. Power generation, particularly nuclear power generation, is a major market for ultrasonic inspection equipment, apart from aerospace and defense, automotive, and other end-use markets. Foundry and primary metal industries represent the most significant market for surface inspection equipment, while the aerospace industry forms a major market for portable eddy current equipment. Lately, the NDT market has been shifting toward digital NDT equipment to take advantage of improved inspection speed, particularly in radiography inspections.
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