The global market for Non-Destructive Testing (NDT) Services is projected to reach US$8.9 billion by 2025, driven by the growing importance shed on material inspection against the backdrop of strong focus shed on quality assurance of structural and mechanical components operating in demanding application environments. NDT is used widely in civil engineering for testing concrete structures; oil & gas and mining industry for monitoring integrity of assets non-intrusively; semiconductor industry for wafer testing; nuclear power plants for continuous inspection of critical parts and components of nuclear reactors; and pipeline and piping system inspection, among others. Technologies used for NDT include Acoustic Emission Testing (AE), Electromagnetic Testing (ET), Ground Penetrating Radar (GPR), Laser Testing Methods (LM), Magnetic Flux Leakage (MFL), Microwave Testing, Liquid Penetrant Testing (PT), Magnetic Particle Testing (MT), Neutron Radiographic Testing (NR), Radiographic Testing (RT), Thermal/Infrared Testing (IRT), Ultrasonic Testing (UT), Time of Flight Diffraction (ToFD), Pulse Echo Inspection, Guided Wave Testing (GW), Electromagnetic Acoustic Transducer (EMAT) Testing, among others. In addition to stringent safety regulations and quality standards, other factors driving the need for NDT include aging infrastructure worldwide which is spurring the importance of structural health monitoring (SHM) of bridges, tunnels etc. for signs of wear & tear, fatigue, corrosion, and stress; and growing manufacturing competitiveness and the ensuing focus on asset integrity and quality of manufactured products.
Globalization of supply chain is additionally encouraging increased inspection of components moving through the supply chain. Stringent and often punitive safety regulations being legislated in most countries worldwide is pushing up the compliance burden. Oil & gas, mining, utilities, and nuclear power plants especially have to ensure compliance with international standards to ensure safe and efficient operation of equipment and assets. Given the high cost of non-compliance, companies are increasingly outsourcing NDT operations, requirements and auditing functions to specialized service providers. NDT represents a specialized field that requires expensive equipment, technology CAPEX investments, and qualified staff. This makes in-house management of NDT operations expensive. Also, the blistering pace of material development makes new material inspection challenging. Outsourcing provides the perfect opportunity to align NDT outcomes with cost and quality goals. Few of the benefits of outsourcing NDT activities include access to expert skills & capabilities; reduce CAPEX and OPEX load; reduced risk; frees up resources to focus on core business areas; and higher quality and reliable independent evaluation. A growing number of NDT service providers are offering customized services designed to suite unique needs of a wide range of industry sectors. A key trend in the market is the growing commercial opportunity for automated NDT equipment integrated with sensors and industrial robotics with the aim of improving non-destructive testing productivity. An exciting field rapidly evolving, in this regard, is drone-based nondestructive testing. The United States, China and Europe represent large markets worldwide with a combined share of 73.3% of the market. China also ranks as the fastest growing market with a CAGR of 12% over the analysis period supported by the country's mammothian export presence, rising prominence of quality and compliance and the resulting growth in inspection and testing of product brands.
Competitors identified in this market include, among others, ALS Limited, Applus+, Bureau Veritas SA, Dekra SE, Intertek Group Plc, MISTRAS Group Inc., NDT Global, Nikon Metrology NV, NVI LLC, SGS SA, TEAM Inc., TUV Rheinland AG, YXLON International GmbH ,Zetec Inc.