Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Non-Destructive Testing (NDT) Services in Aerospace and Defense Market - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific non-destructive testing services in aerospace and defense market is estimated to reach $363.4 million by 2033 from $256.4 million in 2022, at a CAGR of 3.44% during the forecast period 2023-2033. The providers of non-destructive testing services have observed an increase in demand from the military, space agencies, and the expanding commercial sector.
Driven by the aviation and defense industries, the Asia-Pacific (APAC) region is seeing a spike in demand for non-destructive testing services in the aerospace and defense industry. Significant expansion in the space industry is also contributing to the anticipated rise in demand between 2023 and 2033.
The increasing size of components is a key challenge for the non-destructive testing sector and presents challenges for most of the NDT equipment on the market. In the future, the need for NDT services will increase even further due to the launch of satellite constellations and other rising space operations.
APAC's aerospace sector is utilizing composites and other innovative materials, which calls for the use of sophisticated NDT techniques like computed tomography during inspections. Additionally, testing speed and quality are being improved by the combination of machine learning (ML) and artificial intelligence (AI).
Analyst's Perspective on Asia-Pacific Non-Destructive Testing (NDT) Services in Aerospace and Defense Market
The Principal Analyst states, 'Ultrasonics, eddy current, and radiographic testing are the prominent testing methods within the A&D domain. While radiography continues to grow in utilization, magnetic particle and penetrant testing methods of non-destructive testing are also gaining traction.
Increasing automation in manufacturing and deployment of technologies such as additive manufacturing will continue to drive the uptake of non-destructive testing solutions. Further efforts toward capacity planning across the value chain will also drive the investment in non-destructive testing. Digitalization and associated ICT capability-based enhancements will enhance the growth in this market.'
How can this report add value to an organization?
Product/Innovation Strategy:
The service segment helps the reader understand the different NDT methods and end users that will generate the demand for non-destructive testing services in Asia-Pacific region.
Growth/Marketing Strategy:
The Asia-Pacific non-destructive testing services market has seen major development by key players operating in the market, such as business expansion activities, contracts, mergers, partnerships, collaborations, and joint ventures. The favored strategy for the companies has been acquisitions and contracts to strengthen their position in the Asia-Pacific non-destructive testing services in aerospace and defense market.
Competitive Strategy:
Key players in the Asia-Pacific non-destructive testing (NDT) services in aerospace and defense market analyzed and profiled in the study involve non-destructive testing service providers. Moreover, a detailed competitive benchmarking of the players operating in the Asia-Pacific non-destructive testing (NDT) services in aerospace and defense market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Questions Answered in the Report
- What is non-destructive testing (NDT), and what types of methods are used for NDT services in the market?
- What new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- For a new company looking to enter the non-destructive testing (NDT) services market in aerospace and defense, what areas could it focus on to stay ahead of the competition?
- How is the market expected to grow during the forecast period 2023-2033?
- What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
- What is the current and future revenue scenario of the Asia-Pacific non-destructive testing services market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 68 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $259.2 Million |
| Forecasted Market Value (USD) by 2033 | $363.4 Million |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.1.1 Non-Destructive Testing Services in Aerospace and Defense: Overview
1.1.2 Non-Destructive Testing Services in Aerospace Manufacturing and Maintenance
1.1.2.1 Aviation
1.1.2.2 Space
1.1.3 Non-Destructive Testing Services in Defense Manufacturing and Maintenance
1.1.4 Evolving Technological Trends and Disruptions in Non-destructive Testing
1.1.4.1 Computed Tomography (CT) for 3D Reconstruction of the Test Parts
1.1.4.2 Integration of IoT and Cloud-Based Services
1.1.4.3 Drone-Based Enabled NDT Inspection
1.1.5 Evolving End-User Requirements for Non-Destructive Testing
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Easy Integration with the Manufacturing Process
1.2.1.2 Increase in Demand to Maintain High Standards
1.2.2 Business Challenges
1.2.2.1 Limitations in Testing Large and Complex Structures
1.2.2.2 Unskilled Labor for the NDT Industry 4.0
1.2.3 Business Strategies
1.2.3.1 New Product Launches
1.2.4 Corporate Strategies
1.2.4.1 Partnerships, Collaborations, Agreements, and Contracts
1.2.4.2 Mergers and Acquisitions
1.2.5 Business Opportunities
1.2.5.1 Upcoming Demand for Satellite Constellation to Cater NewSpace Ecosystem
1.2.5.2 Technological Advancements in NDT Inspections
2 Region
2.1 Non-Destructive Testing (NDT) Services in Aerospace and Defense Market (by Region)
2.2 Asia-Pacific
2.2.1 Market
2.2.1.1 Key Service Providers in Asia-Pacific
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Service
2.2.2.1 Asia-Pacific Non-Destructive Testing (NDT) Services in Aerospace and Defense Market (by Type)
2.2.3 Asia-Pacific (by Country)
2.2.3.1 China
2.2.3.2 Japan
2.2.3.3 India
2.2.3.4 Rest-of-Asia-Pacific
3 Markets - Competitive Benchmarking & Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qi8a9h
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