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The global non-destructive testing market is expected to value USD 34.1 billion by 2030, exhibiting a CAGR of 7.7% during the period in focus. The growth may be accredited to the need to examine and evaluate defects in materials. Destructive testing is widely used to analyze the characteristics of aircraft components like tensile strength, flexibility, fracture toughness, and others. In aerospace sector, non-destructive testing, or NDT plays a crucial role in designing, manufacturing, and maintenance of an aircraft. It is considered to be the most accurate method to test an aircraft component and materials without any destruction.
With the introduction of Industry 4.0, NDT is also integrating NDT 4.0 which focuses on enhancing connectivity. The connectivity is spread across a number of levels, from testing and measurement to data transfer and storage to decision-making and analysis.
Additionally, non-destructive testing finds use in many industry verticals, like automotive and heavy engineering, oil and gas, power generation, aerospace and defense, and manufacturing. These tests are majorly used in manufacturing and process industries. They are used to enhance the quality and ergonomics of products, ensure safety standards in factories, and support maintenance and inspection.
A major factor encouraging the growth of NDT industry are the strict rules established by the government with regard to the safety of assets, the surging need to assess the structural integrity of aging infrastructures, and the deployment of advanced materials in manufacturing processes. Moreover, technological advancements in non-destructive testing solutions like sensing and numerical simulation, giant magnetoresistance, and infrastructure advances in developing regions will positively influence the scope of business in the times to come.
Although it is worth noting that the COVID-19 pandemic adversely affected the growth of the non-destructive testing (NDT) market, as the global sales of NDT services and equipment for leading verticals like oil and gas and aerospace declined during the lockdown period. The fall in the number of new oil and exploration projects, temporary shutdown of manufacturing facilities, and decline in crude oil prices during the pandemic have negatively impacted the market. Coronavirus severely hampered the global aerospace and commercial aviation sector due to travel restrictions imposed by the governments globally to curb infection cases. The aforementioned factors have obstructed the global NDT market growth but is sure to regain strength due to ease in restrictions after a considerable fall in COVID-19 infections.
Based on offering insights, the services segment dominated the market owing to the high cost of non-destructive equipment along with complex technologies used in its installation. This has compelled the end-users to outsource their testing operations in order to enhance productivity and ensure optimum operation. Moreover, the lack of skilled professionals to carry out non-destructive testing is another major reason obstructing the installation of new NDT equipment. Strict worker safety rules such as OSHA offered by the government have influenced end-users to outsource their testing operations to third-party companies.
In terms of verticals, the manufacturing sector led the industry growth due to the increasing use of electromagnetic acoustic transducer methodologies for industrial applications. Additionally, growing investment in advanced inspection technologies by industries is likely to fuel the use of NDT. Urbanization along with an improvement in purchasing power has led to an increase in manufacturing services thereby highlighting the need for a reliable testing module to ensure continuous productivity.
The oil and gas sector is also emerging as a leading consumer of NDT solutions as the technology is being used in refineries, such as radiography testing, x-ray testing, ultrasonic testing, and visual inspection.
Geographically, North America non-destructive testing (NDT) market has showcased consistent growth due to the rising demand for advanced material testing in Mexico, Canada, and the U.S. The presence of established industry players like Acuren Inspection Inc., Fischer Technology Inc., and Magnaflux Corporation will supplement the regional market growth.
Asia Pacific is slated to emerge as a profitable revenue pocket for NDT providers supported by expanding power generation verticals in countries like China and India. Moreover, the domestic manufacturing sector in countries like Japan and China will boost market players. Industry players like Olympus Corporation and Nikon Metrology is projected to drive the use of non-destructive testing across APAC.
Research Support Specialist, USA