The global ultrasonic testing market was valued at USD 2,297.2 million in 2019 and is expected to grow from USD 1,954.4 million in 2020 to USD 8,920.67 million by 2032, registering a CAGR of 11.00% during the forecast period from 2020 to 2032. In 2019, North America led the market, accounting for a dominant share of 38.9%.
The ultrasonic testing market is experiencing significant growth, driven by increasing demand for non-destructive testing solutions across various industries such as manufacturing, aerospace, automotive, and oil & gas. This technology is widely used for detecting internal flaws, measuring material thickness, and ensuring structural integrity without causing damage to the components being tested. Factors such as strict regulatory standards, rising safety concerns, and advancements in ultrasonic testing equipment are further fueling market expansion. Additionally, the growing emphasis on automation and digitalization in inspection processes is expected to create new opportunities for market players over the forecast period.
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Key Market Drivers
The market is being driven by technological advancements in ultrasonic testing equipment, such as portable devices, improved probes, and enhanced software for data analysis. Additionally, the rising need for infrastructure inspection and preventive maintenance in sectors like oil & gas, aerospace, and manufacturing is contributing to the market's expansion. Governments' increased focus on safety regulations and quality standards across various industries also supports market growth.
Key Players in the Ultrasonic Testing Market
Several prominent companies are driving innovation in the ultrasonic testing market, offering advanced solutions and expanding their market presence through acquisitions and partnerships. The key players include:
- Amerapex Corporation (The U.S.)
- Applied Technical Services, Inc. (The U.S.)
- Ashtead Technology (The U.K.)
- General Electric (The U.S.)
- Mistras Group (The U.S.)
- NDT Global GmbH & Co. Kg (The U.S.)
- Nikon Metrology (Japan)
- Olympus Corporation (Japan)
- Sonatest Ltd. (The U.K.)
- Tecscan Systems Inc. (Canada)
- TD Williamson, Inc. (The U.S.)
Market Segmentation
The ultrasonic testing market is segmented by technology type, application, and geography. The technology segment includes ultrasonic flaw detectors, thickness gauges, and phased array ultrasonic testing systems. The application segment covers industries such as aerospace, automotive, oil & gas, manufacturing, and power generation.
Regional Analysis
In 2019, North America dominated the ultrasonic testing market due to the strong presence of key players and the growing demand for non-destructive testing in industries such as aerospace and oil & gas. The Asia-Pacific region is anticipated to witness substantial growth during the forecast period, driven by increased industrial activities, technological advancements, and rising demand for ultrasonic testing in China and India.
Industry Developments:
September 2020 – Element’s testing laboratory signed a contract with Safran Group to provide non-destructive testing services. This agreement followed Safran’s official approval of Element’s facility to conduct ultrasonic testing on Safran-manufactured components.
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