Global NDT Market to Reach $1.2 Billion by 2015

June 25th, 2009

According to a new report by Global Industry Analysts the non-destructive test (NDT) equipment market will reach $1.2 billion by 2015. Stringent industry product specifications and tight quality control requirements set by the manufacturers are two of the biggest factors driving this demand.

The global market for surface inspection equipment is growing steadily with European and North American producers representing the majority of end-users. The North American market for surface inspection equipment is expected to grow, primarily due to the demand for replacing the existing automated systems and equipment. The European market is also set to enhance its market share, as the manufacturing activity is being shifted from Western Europe to the Eastern part, thus resulting in a steady demand for the equipment. Asia-Pacific market, with its current potential as a production base of the world, is exhibiting tremendous growth, and is expected to continue with its growth for the next few years.

Key participants in the global nondestructive test equipment market include American NDT, Centurion NDT, Extech Instruments, Faxitron X-Ray LLC, Foerster Instruments, GE Inspection Technologies, Gould-Bass Company, IBG NDT Systems Corporation, Insight NDT Equipment, intelligeNDT Systems & Services GmbH, Lenox Instrument Company, Magnetic Analysis Corporation, Magwerks Corporation, Olympus NDT, Sonatest Limited, Sonix, Varian Medical Systems, YXLON International, and Zetec among others.

The report titled “Nondestructive Test Equipment: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of world market trends and drivers, market sizing data, industry issues and challenges. The study presents extensive commentary on the NDT industry, product overview, new product introductions, recent industry activity, and key player profiles. The study offers market data analytics in dollar terms for major regional markets such as US, Canada, Europe, Asia-Pacific (including Japan), and Rest of World. Product segments analyzed include Eddy Current Testing, Radiography, Surface Inspection, Ultrasonic Inspection, and Visual Inspection.

Visit the GIA website for more details about this market research report.

Entry Filed under: Business News, Test Equipment