Rising Technological Developments To Boost Ultrasonic Non-Destructive Testing (NDT) Equipment Market Growth

Ultrasonic Non-destructive Testing (NDT) Equipment Market
Ultrasonic Non-destructive Testing (NDT) Equipment Market


Ultrasonic Non-destructive Testing (NDT) Equipment Market by Testing Method (Magnetic Particle Testing, Radiography Testing, Visual Inspection Testing, And Electromagnetic Testing, Eddy Current Testing, Liquid Penetrant Testing, Others), by Technique (Volumetric Examination, Surface Examination, Others), by Industry Vertical (Oil And Gas, Energy And Power, Aerospace And Defense, Automotive And Transportation, Infrastructure, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Ultrasonic Non-destructive Testing (NDT) Equipment Market is estimated to be valued at US$ 50.26 Billion in 2022, and is expected to exhibit a CAGR of 8.79 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Ultrasonic testing consists a range of non-destructive testing (NDT) methods that deliver or transmit ultrasonic waves from an object or material. These high frequency sound waves are transferred into substances to characterize the substance or for flaw detection. The main principle of ultrasonic testing is the usage of sound to detect a substance’s width at various points. 

Competitive Landscape:

Key players involved in the growth of global Ultrasonic Non-destructive Testing (NDT) Equipment Market are Russell Fraser Sales Pty Ltd., Baker Hughes, Intertek Group PKC, and Olympus Corporation.

Market Key Drivers:

Rising technological developments in the industry is projected to boost the growth of global Ultrasonic Non-destructive Testing (NDT) Equipment Market. For instance, ultrasonic testing is being utilized in the marine and aviation sector, as the testing activity is commonly conducted on steel and aluminum vessels to identify and quantify erosion. 

Rising approvals and launches are projected to propel the growth of global Ultrasonic Non-destructive Testing (NDT) Equipment Market. For instance, In April 2021, Jet Aviation was permitted by the Swiss Federal Office of Civil Aviation to utilize infrared thermography for non-destructive testing at its Basel maintenance service to add to other Ultrasonic Non-destructive Testing (NDT) Equipment methods utilized in Basel.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Ultrasonic Non-destructive Testing (NDT) Equipment Market due to the surge in pandemic, disruption in supply chain and halt in production facilities impeded the market growth.

Key Takeaways:

The global Ultrasonic Non-destructive Testing (NDT) Equipment Market is anticipated to exhibit a CAGR of 8.79 % during the forecast period owing to the rising mergers and acquisitions for the product expansion. For instance, in September 2021 - Bureau Veritas entered an acquisition with AET France, which is specific in lab testing, advancement of the product, and sustainable testing. 

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Ultrasonic Non-destructive Testing (NDT) Equipment Market due to increasing mergers and acquisitions, increasing partnerships and collaborations and rising safety concerns. For instance, as per U.S. Census Bureau In 2022, the value of construction in the United States is known to reach US$ 135 billion.

Comments

Post a Comment

Popular posts from this blog

Rising Cancer Cases to boost the Molecular Cytogenetics Market Growth

Image
Molecular Cytogenetics Market Molecular Cytogenetics Market by Products (Kits & Reagents, Instruments, and Software & Services), Technique (Fluorescence in Situ Hybridization, Comparative Genomic Hybridization, Karyotyping, Other Techniques), Application (Cancer, Genetic Disorders, Other Applications), And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030 The global Molecular Cytogenetics Market is estimated to be valued at US$ 4,211.4 million in 2023, and is expected to exhibit a CAGR of 24.5 % over the forecast period, as highlighted in a new report published by Coherent Market Insights. Market Overview: Clinical cytogenetics is the examination of the relation between chromosomal alterations and genetic disorders in human beings. Molecular cytogenetics is an examination of genetic diseases utilizing new techniques and methods that link cytogenetic and molecular techn
Read more

Bispecific Antibodies Are Used As Therapeutic Drugs While Treating Viral Infections, Oncology, And Auto-Immune Diseases

Image
  Bispecific Antibodies Bispecific antibodies are produced through cell fusion or recombinant DNA technologies. Bispecific antibodies are much more specific than monoclonal antibodies. Their applications in tumor immunotherapy are nearly limitless. As of today, seven bispecific antibodies have been approved by the FDA and EMA and over one hundred are in preclinical testing. Bispecific antibodies were initially developed using the quadroma technology. They contain two distinct antigen-binding arms, which enable them to bind to the target antigen while also activating an effector cell, which kills tumor cells. The primary antigen on the surface of the effector cell is called CD3, which is a popular target of immune cells. According to Coherent Market insights the Bispecific Antibodies Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. Many of these multi specific antibody formats have been developed over the past 30 years. These categories of a
Read more

Organic Milk Has Much Higher Concentration Of Iron, Vitamin E, And Polyunsaturated Fatty Acids Omega-3 And Omega-6 As Compared To Regular Milk

Image
  Organic Milk Organic Milk is milk made from livestock raised using organic farming practices. The use of the term "organic" is regulated by food authorities in most jurisdictions. Organic cows are not allowed to be given hormones, which stimulate milk production. Organic feed also must be grown without the use of synthetic pesticides. Organic cows must get a certain percentage of their diet from grazing, although most organic dairies supplement the grass with grain. However, organic grazing cows produce less milk than cows that eat a grain-based diet. Buying organic milk may be a better investment for your health. According to Coherent Market Insights the Organic Milk Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028. The standards for organic milk are stringent. To meet the organic standard, a dairy farm cannot use any form of animal growth hormones or antibiotics. Organic cows must spend at least 30% of their lives on pasture. C
Read more