Market Scenario:

The global ultrasonic NDT equipment market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the ultrasonic NDT equipment market is influenced by the expansion in the aerospace defense sector, growth in the wind energy sector and emergence of new avenues for natural gas market. Furthermore, growth in the electrical vehicle sales, use of array equipment in radiography and the need for customization of ultrasonic NDT equipment are the factors expected to boost the growth of the market over the forecast period. However, lack of skilled manpower, rise in pipeline sabotage threats are the factors hindering the growth of ultrasonic NDT equipment market.

The global Ultrasonic NDT Equipment Market is expected to reach USD 2.47 billion by the end of 2023 with 9.87% CAGR during forecast period 2017-2023

Key Players

The prominent players in the market of Ultrasonic NDT Equipment market are – GE Inspection Technologies (U.S.), Olympus Corporation (Japan), Sonatest (U.K.), Danatronic (U.S.), Eddyfi (Canada), James Instruments (U.S.), NDT Systems (U.S.), PaR systems (U.S.), Qualitest International (Canada) and Trinity NDT (India) among others.

Intended Audience

• Ultrasonic NDT Equipment Manufacturers
• Distributors
• Research firms
• Consultancy firms
• Vendors
• Semiconductor Manufacturers
• Stakeholders
• End-user sectors
• Technology Investors

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Segments:

Global Ultrasonic NDT Equipment Market, End-User

• Oil Gas Industry
• Power Generation
• Aerospace and defense sector
• Automotive and Transportation industry

Global Ultrasonic NDT Equipment Market, By Region

• North America
• Europe
• Asia Pacific
• RoW

Regional Analysis:

North America was the largest market for ultrasonic NDT equipment market due to increasing focus by automotive manufacturers to increase its production processes in U.S. Among other countries in North-America, U.S. is dominating the ultrasonic NDT equipment and Canada is expected to grow over the forecast period whereas Europe is growing at a stable rate over the forecast period with a CAGR of 8.77% from 2017 to 2023. The region is attributed to the increasing safety regulations, rapid prototyping and industrialization among others. Also, the expansion in the aerospace and defense sector is expected to boost the market. Whereas, factors such as lack of skilled workforce and the equipment being expensive for testing are stopping the market to grow in the European region.

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TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

1.1 Key Market Highlights 9

2   SCOPE OF THE REPORT

2.1 Market Overview 10

2.2 Scope Of The Study 10

2.3 Assumptions 10

2.4 Market Structure 10

2.5 Top Vendor Offerings 11

3 MARKET RESEARCH METHODOLOGY

3.1 Research Process 13

3.2 Primary Research 14

3.3 Secondary Research 14

3.4 Market Size Estimation 14

3.5 Forecast Model 15

4 MARKET DYNAMICS

4.1 Introduction 16

4.2 Drivers 17

4.2.1 Expanding Aerospace And Defense Sector 17

4.2.2 Growth In Wind Energy Market 18

4.2.3 Emergence Of New Avenues For Natural Gas Market 20

5   CHALLENGES

5.1 Necessity For Price-Sensitive And Multiple-Technology Solutions 21

5.2 Lack Of Skilled Manpower 21

5.3 Approval Of Different Standards To Use New Technology 21

5.4 Rise In Pipeline Sabotage Threats 21

6 IMPACT OF DRIVERS AND CHALLENGES

7   TRENDS

7.1 Growth In Electrical Vehicle Sales 23

7.2 Use Of Phased Array Equipment In Lieu Of Radiography 25

7.3 Miniaturization And Need For Customization Of Ultrasonic NDT Equipment 25

7.4 Ultrasonic Testing For Case-Hardened Components And Laser-Welded Tailored Blanks 25

7.5 Porter’s Five Forces Analysis 25

7.5.1 Introduction 25

8 ULTRASONIC NDT EQUIPMENT MARKET, BY END-USER

8.1 Overview 27

8.1.1 Oil Gas Industry 28

8.1.2 Power Generation 30

8.1.3 Aerospace And Defense Sector 35

8.1.4 Automotive And Transportation Industry 37

8.1.5 Others 38

9 GEOGRAPHICAL SEGMENTATION

9.1 Introduction 40

9.2 North-America 41

9.3 Europe 43

9.4 Asia-Pacific 46

9.5 Rest Of The World 48

10 VENDOR LANDSCAPE

10.1 Competitive Scenario 50

10.2 Other Prominent Vendors 51

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