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NDT testing Market worth $1720.96 Million by 2020

According to a new report of "Nondestructive Testing Market by Application (Dimensional measurement, Flaw detection, Leak detection, Estimation of physical properties, Chemical composition determination, stress and structure analysis), Technology (Visual testing, Magnetic particle testing, electromagnetic testing, Liquid penetrant testing, Radiography testing, Ultrasonic testing, Thermography testing, acoustic emission testing), End user (Aerospace and defense industry, Automotive industry, Oil & gas industry, Infrastructure industry, Power generation), & Geography (North America, Latin America, Europe, Asia-Pacific,Middle-East) - Forecast & Analysis 2014-2020" published by MarketsandMarkets, the market is estimated to grow at a CAGR of 3.5% to reach $1720.96 Million by 2020.

NDT in aerospace and defense industry is a must. During the manufacture of aircraft components and parts NDT is done to ensure safety in long run. Due to stringent government safety regulation in other industries like oil & gas industry, automotive industry, infrastructure industry and power generation there is a rising demand for NDT in these industries.

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Nondestructive testing relates to the examination of materials for flaws without harming the object being tested. Non-destructive testing provides a cost effective means of testing while protecting the object’s usability for its designed purpose.

There are some existing nondestructive testing technologies such as visual testing, ultrasonic testing, radiography testing and electromagnetic testing which capture most of the market. Ultrasonic testing has been the first choice of the end users for flaw determination.NDT has its application in wide areas apart from flaw detection. This report describes the nondestructive testing technologies and their application for testing the flaws of objects.

The report segments the NDT market on the basis of application, technology, end user and geography. The report provides a revenue forecast and analysis for the regions of North America, Latin America, Europe, APAC and, Middle East. The emerging markets for NDT inspection services are Brazil, China, India. The emerging growth markets for NDT inspection services are experiencing high growth amidst a difficult economic environment and are expected to continue growing over the next 6 years.

A common challenge witnessed in the global NDT market is a lack of qualified technicians. However, this challenge is not witnessed in the emerging markets. India is the NDT education hub and provides trained technicians in country and to other regions like the Middle East. Similarly, in China, SGS Pvt Ltd (SGS) conducted a training program for approximately X NDT technicians in various disciplines.

Browse more than 54 market data Tables with 58 Figures spread through 217 Pages and in-depth TOC on "Nondestructive Testing Market".

http://www.marketsandmarkets.com/Market-Reports/nondestructive-testing-market-257342201.html

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Nondestructive testing is testing of objects for their flaws and imperfections in accordance with some standard norms. The stringent government safety regulations in the aerospace and defense industry and commercial industry will drive the growth of NDT market. Rapid infrastructural development in developed as well as developing economies has fuelled in the growth of the NDT market.

The U.S. and Europe are the major revenue generating regions for NDT. Latin America and Asia-Pacific are the emerging markets for NDT. Brazil, India, and China are the countries, which have immense growth potential for NDT. APAC will be the leading market for nondestructive testing, due to the high growth in sectors like infrastructure, power generation, and aerospace in countries like India and China.

This report provides the Nondestructive Testing Market segmentation on the basis of application, technology, end user, and geography. The report explains the drivers, restraints and challenges in the NDT market. The NDT market is witnessing a spree of mergers, partnerships, and acquisitions among market players, which has resulted in a wide range of challenges and opportunities. It provides information on the regional, end user, technology, and consolidation trends in the NDT market.

There are some existing nondestructive testing technologies such as visual testing, ultrasonic testing, radiography testing and electromagnetic testing current testing capture most of the market. Ultrasonic testing has been the first choice of the end users for flaw determination.NDT has its application in wide areas apart from flaw detection. This report describes the nondestructive testing technologies and their application for testing the flaws of objects.

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Nondestructive testing market is in its maturity period however some technologies of it are still in their growth stage. Technologies are integrating with asset management, integrity solution and decision making tools with the advancement in automation. The report provides revenue forecast and analysis for North America, Latin America, Europe, Asia-Pacific and, Middle-East.

The major drivers for the NDT market are strong government safety regulations, rapid infrastructural development and growing demand for NDT from end users. The report also provides information about the challenges and opportunities in the NDT market. The report describes the regional, end user, technology and consolidation trends in the NDT market. The infrastructure sector is rapidly growing all over the globe; especially in Brazil, India, and China. This creates an opportunity for the automation provider companies in the NDT market.

This report provides a complete analysis of the global NDT market for the next six years. The report provides a complete revenue forecast and analysis for North America, Latin America, Europe, Asia-Pacific, and Middle East. The competitive landscape provides information about the major players in the NDT market and their market share in the NDT market for 2013. The report also provides overviews of the leading companies in the NDT market on the basis of their financial position, markets, and key developments. The major companies involved in global nondestructive testing industry are Mistras (U.S.), Olympus Corporation (Japan), Intertek Plc. (U.K), SGS S.A (Switzerland), G.E. Measurement and Control (Massachusetts).

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