Selbyville, Delaware Global Ultrasonic Testing Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Ultrasonic Testing Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Ultrasonic Testing market and provides information regarding the revenue for the period 2020 to 2027.
Global Ultrasonic Testing Market to reach USD 5.90 billion by 2027. Global Ultrasonic Testing Market is valued approximately USD 3.07 million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.5 % over the forecast period 2020-2027. Ultrasonic testing is a kind of non-destructive testing n which ultrasonic pulse waves are transmitted into the subject to identify any kind of internal defect in the subject. This procedure can also be used to measure the thickness of the subject and is majorly used in steel and other alloys but is also applicable in wood and composite materials.
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The demand for reliable non- destructive testing technique for materials specially fiberglass and carbon fiber composites drives the market the growth. Further the application of this technique in numerous industries using metal and fabrication such as inspecting the quality of the weld drives the market growth. Also, the use of this testing in Aerospace and defense industries to check the quality of the defense products augments the market growth. Thus, the growing procurement of defense products supports the market growth. As per the Stockholm International Peace research institute (SPIRI), The Defense spending of United States increased by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. While in June 2018, the French government made an additional order for 420 units of Light VBMR reconnaissance vehicles bringing the total to 978 units Also, rising disposable income and growing consumption of automobiles increases the utilization of Ultrasonic testing. Thus, the growing share of manufacturing activities across the globe results in increasing adoption. However, limitations for testing such as non-water resistant and rough surface materials which cannot be tested impedes the growth of the market over the forecast period of 2020-2027. Although, automation in the end-use industries presents a lucrative opportunity for the market.
The regional analysis of global Ultrasonic Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large base of companies and service providers in the region along with growing penetration of automation. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing manufacturing and evolving industrialization would create lucrative growth prospects for the Ultrasonic Testing market across Asia-Pacific region.
Major market player included in this report are:
GE Measurement & Control Solutions
Mistras Group, Inc.
TechScan Systm Inc
Eddyfi UK Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Time-of- Flight Diffraction
Transducers & Probes
Oil & Gas
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