Ultrasonic Testing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Ultrasonic Testing Market
The Ultrasonic Testing market size was valued at USD 2.297 billion in 2019, and the market is now projected to grow from USD 2.297 billion in 2019 to USD 8.920 billion by 2032, exhibiting a CAGR of 11% during the forecast period of 2020-2032.
According to a pre-pandemic record of the International Bank for Reconstruction and Development (IBRD), around 4.25 million air passengers had been carried worldwide. The air passenger count has been hampered thanks to the global travel ban at some point during the COVID-19 pandemic. The aviation industry faces fundamental demanding situations due to the COVID-19 impact, consisting of economic recession, declining air passenger traffic, and fluctuating oil charges. The International Air Transport Association’s (IATA) Financial Outlook Report (2020) estimated a USD 84.3 billion loss for the worldwide air delivery enterprise. Total sales fell by 20% in the course of the financial year of 2019-2020. this had profoundly impacted the Ultrasonic Testing market growth.
The increasing demand for low-priced transportation via railway infrastructure is a prime thing riding market increase. According to the World Rail Market report on behalf of the European Rail Supply Industry Association, UNIFE has envisioned an average boom of 2.6% worldwide from 2021 to 2023. The Middle East, Africa, and Latin America areas are projected to grow the quickest at 5.1% and 4. Eight, respectively, yearly. This contributes to the rising Ultrasonic Testing market share.
Additionally, the ultrasonic checking-out technique includes the dimensional measurements of an aircraft component, leak detection in gasoline engines, plane mainframe shape evaluation, and flaw detection. The efficiency and adaptability of technologically advanced UT devices, such as commercial scanners, tube inspection structures, and imaging structures, are fueling the marketplace increase. In June 2020, for example, Eddyfi released the M2M Mantis PAUT flaw detector.
Comprehensive Analysis of Ultrasonic Testing Market
The marketplace is segmented by using type, device, service, and vertical. By kind, the phased array phase held a dominant proportion in 2019 due to its developing use in analysing complicated geometries like aircraft engines and landing equipment. By device, the flaw detectors section is anticipated to guide and drive through their increasing utility inside the aviation enterprise to stumble on hidden cracks and discontinuities in plane additives. In phrases of the carrier, inspection services are anticipated to dominate in 2020 and 2027 because of their accuracy in identifying inner defects in aerospace additives. By vertical, the public infrastructure phase is projected to keep the most important share, fueled via the adoption of UT technology for examining railway bridges, flyovers, nuclear waste storage, and decommissioning tasks.
The marketplace size in North America stood at USD 893.7 million in 2019. The dominance of this area is a consequence of the increasing use of the UT technique for railway inspections throughout the USA and Canada. The presence of key market players, including Amerapex Corporation, Applied Technical Services, Inc., General Electric, and Mistras Group, drives the marketplace inside the U.S.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include Amerapex Corporation (U.S.), Applied Technical Services, Inc. (U.S.), Ashtead Technology (U.K.), General Electric (U.S.), Mistras Group (U.S.), NDT Global GmbH & Co. Kg ( U.S.), Nikon Metrology (Japan), Olympus Corporation (Japan) and Sonatest Ltd. (The U.K.); these market players provide a level-playing competitive landscape.
In September 2020, Element’s trying out laboratory and Safran Group signed a settlement for non-unfavourable checking out offerings. The settlement follows the approval of Safran Group for ultrasonic testing out of Safran components with the help of Element’s trying-out laboratory.
Segmentation Table
Global Ultrasonic Testing Market Scope
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Growth Rate CAGR of 11% from 2024-2032
Historical Period 2016-2018
Unit Value (USD Billion)
Segmentation By Type, equipment, service, vertical, and Region
By Type
Time-Of-Flight Diffraction
Phased Array
Immersion Testing
Guided-Wave Testing
Acoustography
Others
By equipment
Flaw Detectors
Thickness Gauges
Transducers & Probes
Industrial Scanners
Tube Inspection Systems
Bond Testers
Imaging Systems
Others
By service
Inspection Services
Equipment Rental Services
Calibration Services
Training Services
By vertical
Manufacturing
Oil & Gas
Aerospace
Public Infrastructure
Automotive
Power Generation
Others
By Region
North America (By Type, By Equipment, By Service, By Vertical, and By Country)
The U.S.
Canada
Mexico
Europe (By Type, By Equipment, By Service, By Vertical, and By Country)
The U.K.
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific (By Type, By Equipment, By Service, By Vertical, and By Country)
Japan
China
India
Rest of Asia Pacific
Rest of the World (By Type, By Equipment, By Service, By Vertical, and By Country)
Latin America
The Middle East & Africa
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights-Impact of COVID-19 Pandemic on Global Ultrasonic Testing Market
- 5.1. Impact of COVID-19 Pandemic on Global Ultrasonic Testing Market
- 5.2. Steps Taken by Industry/Companies/Government to Overcome the Impact
- 5.3. Key Development in the industry in Response to COVID-19 Pandemic
- 5.4. Potential Opportunities due to COVID-19 Outbreak
- 6. Global Ultrasonic Testing Market Analysis, Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Time-Of-Flight Diffraction
- 6.2.2. Phased Array
- 6.2.3. Immersion Testing
- 6.2.4. Guided-Wave Testing
- 6.2.5. Acoustography
- 6.2.6. Others
- 6.3. Market Analysis, Insights and Forecast – By Equipment
- 6.3.1. Flaw Detectors
- 6.3.2. Thickness Gauges
- 6.3.3. Transducers & Probes
- 6.3.4. Industrial Scanners
- 6.3.5. Tube Inspection Systems
- 6.3.6. Bond Testers
- 6.3.7. Imaging Systems
- 6.3.8. Others
- 6.4. Market Analysis, Insights and Forecast – By Service
- 6.4.1. Inspection Services
- 6.4.2. Equipment Rental Services
- 6.4.3. Calibration Services
- 6.4.4. Training Services
- 6.5. Market Analysis, Insights and Forecast – By Vertical
- 6.5.1. Manufacturing
- 6.5.2. Oil & Gas
- 6.5.3. Aerospace
- 6.5.4. Public Infrastructure
- 6.5.5. Automotive
- 6.5.6. Power Generation
- 6.5.7. Others
- 6.6. Market Analysis, Insights and Forecast – By Region
- 6.6.1. North America
- 6.6.2. Europe
- 6.6.3. Asia-Pacific
- 6.6.4. Rest of the world
- 7. North America Ultrasonic Testing Market Analysis, Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Time-Of-Flight Diffraction
- 7.2.2. Phased Array
- 7.2.3. Immersion Testing
- 7.2.4. Guided-Wave Testing
- 7.2.5. Acoustography
- 7.2.6. Others
- 7.3. Market Analysis, Insights and Forecast – By Equipment
- 7.3.1. Flaw Detectors
- 7.3.2. Thickness Gauges
- 7.3.3. Transducers & Probes
- 7.3.4. Industrial Scanners
- 7.3.5. Tube Inspection Systems
- 7.3.6. Bond Testers
- 7.3.7. Imaging Systems
- 7.3.8. Others
- 7.4. Market Analysis, Insights and Forecast – By Service
- 7.4.1. Inspection Services
- 7.4.2. Equipment Rental Services
- 7.4.3. Calibration Services
- 7.4.4. Training Services
- 7.5. Market Analysis, Insights and Forecast – By Vertical
- 7.5.1. Manufacturing
- 7.5.2. Oil & Gas
- 7.5.3. Aerospace
- 7.5.4. Public Infrastructure
- 7.5.5. Automotive
- 7.5.6. Power Generation
- 7.5.7. Others
- 7.6. Market Analysis – By Country
- 7.6.1. The U.S.
- 7.6.2. Canada
- 7.6.3. Mexico
- 8. Europe Ultrasonic Testing Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Time-Of-Flight Diffraction
- 8.2.2. Phased Array
- 8.2.3. Immersion Testing
- 8.2.4. Guided-Wave Testing
- 8.2.5. Acoustography
- 8.2.6. Others
- 8.3. Market Analysis, Insights and Forecast – By Equipment
- 8.3.1. Flaw Detectors
- 8.3.2. Thickness Gauges
- 8.3.3. Transducers & Probes
- 8.3.4. Industrial Scanners
- 8.3.5. Tube Inspection Systems
- 8.3.6. Bond Testers
- 8.3.7. Imaging Systems
- 8.3.8. Others
- 8.4. Market Analysis, Insights and Forecast – By Service
- 8.4.1. Inspection Services
- 8.4.2. Equipment Rental Services
- 8.4.3. Calibration Services
- 8.4.4. Training Services
- 8.5. Market Analysis, Insights and Forecast – By Vertical
- 8.5.1. Manufacturing
- 8.5.2. Oil & Gas
- 8.5.3. Aerospace
- 8.5.4. Public Infrastructure
- 8.5.5. Automotive
- 8.5.6. Power Generation
- 8.5.7. Others
- 8.6. Market Analysis – By Country
- 8.6.1. The U.K.
- 8.6.2. Germany
- 8.6.3. France
- 8.6.4. Italy
- 8.6.5. Russia
- 8.6.6. Rest of Europe
- 9. Asia pacific Ultrasonic Testing Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Time-Of-Flight Diffraction
- 9.2.2. Phased Array
- 9.2.3. Immersion Testing
- 9.2.4. Guided-Wave Testing
- 9.2.5. Acoustography
- 9.2.6. Others
- 9.3. Market Analysis, Insights and Forecast – By Equipment
- 9.3.1. Flaw Detectors
- 9.3.2. Thickness Gauges
- 9.3.3. Transducers & Probes
- 9.3.4. Industrial Scanners
- 9.3.5. Tube Inspection Systems
- 9.3.6. Bond Testers
- 9.3.7. Imaging Systems
- 9.3.8. Others
- 9.4. Market Analysis, Insights and Forecast – By Service
- 9.4.1. Inspection Services
- 9.4.2. Equipment Rental Services
- 9.4.3. Calibration Services
- 9.4.4. Training Services
- 9.5. Market Analysis, Insights and Forecast – By Vertical
- 9.5.1. Manufacturing
- 9.5.2. Oil & Gas
- 9.5.3. Aerospace
- 9.5.4. Public Infrastructure
- 9.5.5. Automotive
- 9.5.6. Power Generation
- 9.5.7. Others
- 9.6. Market Analysis – By Country
- 9.6.1. China
- 9.6.2. India
- 9.6.3. Japan
- 9.6.4. Rest of Asia Pacific
- 10. Rest of the world Ultrasonic Testing Market Analysis, Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Time-Of-Flight Diffraction
- 10.2.2. Phased Array
- 10.2.3. Immersion Testing
- 10.2.4. Guided-Wave Testing
- 10.2.5. Acoustography
- 10.2.6. Others
- 10.3. Market Analysis, Insights and Forecast – By Equipment
- 10.3.1. Flaw Detectors
- 10.3.2. Thickness Gauges
- 10.3.3. Transducers & Probes
- 10.3.4. Industrial Scanners
- 10.3.5. Tube Inspection Systems
- 10.3.6. Bond Testers
- 10.3.7. Imaging Systems
- 10.3.8. Others
- 10.4. Market Analysis, Insights and Forecast – By Service
- 10.4.1. Inspection Services
- 10.4.2. Equipment Rental Services
- 10.4.3. Calibration Services
- 10.4.4. Training Services
- 10.5. Market Analysis, Insights and Forecast – By Vertical
- 10.5.1. Manufacturing
- 10.5.2. Oil & Gas
- 10.5.3. Aerospace
- 10.5.4. Public Infrastructure
- 10.5.5. Automotive
- 10.5.6. Power Generation
- 10.5.7. Others
- 10.6. Market Analysis – By Region
- 10.6.1. Latin America
- 10.6.2. The Middle East & Africa
- 11. Competitive Analysis
- 11.1. Key Industry Developments
- 11.2. Global Market Share Analysis (2019)
- 11.3. Competition Dashboard
- 11.4. Comparative Analysis – Major Players
- 11.5. Company Profiles (Overview, Products & Equipment s, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 11.5.1. Amerapex Corporation (The U.S.)
- 11.5.1.1. Overview,
- 11.5.1.2. Products & Equipments,
- 11.5.1.3. SWOT analysis,
- 11.5.1.4. Recent developments,
- 11.5.1.5. strategies,
- 11.5.1.6. financials (based on availability)
- 11.5.2. Applied Technical Services, Inc. (The U.S.)
- 11.5.2.1. Overview,
- 11.5.2.2. Products & Equipments,
- 11.5.2.3. SWOT analysis,
- 11.5.2.4. Recent developments,
- 11.5.2.5. strategies,
- 11.5.2.6. financials (based on availability)
- 11.5.3. Ashtead Technology (The U.K.)
- 11.5.3.1. Overview,
- 11.5.3.2. Products & Equipments,
- 11.5.3.3. SWOT analysis,
- 11.5.3.4. Recent developments,
- 11.5.3.5. strategies,
- 11.5.3.6. financials (based on availability)
- 11.5.4. General Electric (The U.S.)
- 11.5.4.1. Overview,
- 11.5.4.2. Products & Equipments,
- 11.5.4.3. SWOT analysis,
- 11.5.4.4. Recent developments,
- 11.5.4.5. strategies,
- 11.5.4.6. financials (based on availability)
- 11.5.5. Mistras Group (The U.S.)
- 11.5.5.1. Overview,
- 11.5.5.2. Products & Equipments,
- 11.5.5.3. SWOT analysis,
- 11.5.5.4. Recent developments,
- 11.5.5.5. strategies,
- 11.5.5.6. financials (based on availability)
- 11.5.6. NDT Global GmbH & Co. Kg (The U.S.)
- 11.5.6.1. Overview,
- 11.5.6.2. Products & Equipments,
- 11.5.6.3. SWOT analysis,
- 11.5.6.4. Recent developments,
- 11.5.6.5. strategies,
- 11.5.6.6. financials (based on availability)
- 11.5.7. Nikon Metrology (Japan)
- 11.5.7.1. Overview,
- 11.5.7.2. Products & Equipments,
- 11.5.7.3. SWOT analysis,
- 11.5.7.4. Recent developments,
- 11.5.7.5. strategies,
- 11.5.7.6. financials (based on availability)
- 11.5.8. Olympus Corporation (Japan)
- 11.5.8.1. Overview,
- 11.5.8.2. Products & Equipments,
- 11.5.8.3. SWOT analysis,
- 11.5.8.4. Recent developments,
- 11.5.8.5. strategies,
- 11.5.8.6. financials (based on availability)
- 11.5.9. Sonatest Ltd. (The U.K.)
- 11.5.9.1. Overview,
- 11.5.9.2. Products & Equipments,
- 11.5.9.3. SWOT analysis,
- 11.5.9.4. Recent developments,
- 11.5.9.5. strategies,
- 11.5.9.6. financials (based on availability)
- 11.5.10. Tecscan Systems Inc. (Canada)
- 11.5.10.1. Overview,
- 11.5.10.2. Products & Equipments,
- 11.5.10.3. SWOT analysis,
- 11.5.10.4. Recent developments,
- 11.5.10.5. strategies,
- 11.5.10.6. financials (based on availability)
- 11.5.11. TD Williamson, Inc. (The U.S.)
- 11.5.11.1. Overview,
- 11.5.11.2. Products & Equipments,
- 11.5.11.3. SWOT analysis,
- 11.5.11.4. Recent developments,
- 11.5.11.5. strategies,
- 11.5.11.6. financials (based on availability)
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