Wellesley, Mass., July 19, 2017 (GLOBE NEWSWIRE) --
Safety testing and condition monitoring is a global issue to manage aging aircraft, electrical and oil facilities, tunnels, bridges and other infrastructure. These tests must be done without damage to the existing equipment and BCC Research predicts annual expansion in Nondestructive Testing (NDT), related services and supplies. The report Global Market for Nondestructive Testing Equipment and Services found that regional growth in Asia-Pacific will be strongest for 2017-22, particularly in leading technologies such as ultrasonic inspection and infrared thermography cameras.
Chemical, oil and gas facilities are expected to remain the largest industry focus for NDT, ranked by spending, rising from a $1.9 billion market in 2016 to $3.1 billion by 2022. Uses in aerospace, automotive and other industries combine to create a combined global industry forecast to reach $26.4 billion by 2022, according to BCC Research. The field encompasses a wide array of technologies from X-ray and visual testing to acoustical, liquid penetration and electromechanical inspections.
Boeing, General Electric, Toyota, Seagate and Google have received NDT patents in recent years. Industry leaders in thermography such as FLIR, Mikron Infrared and Fluke continue to dominate their markets and find new applications. Even industry stalwarts FujiFilm and Eastman Kodak are finding growth, for example in medical imaging, based on expertise in X-ray or other NDT areas.
Research Highlights
- A shortage of trained engineers certified in modern use of NDT technologies may affect organizations worldwide.
- More than 60 U.S. patents related to NDT equipment issued from 2014-17.
"Companies and governments are al looking to extend the useful service life of capital-intensive machinery by testing and preventive maintenance,” says Kevin Fitzgerald, senior editor at BCC Research. "The economics are a big factor in ‘replace or repair’ but there are safety issues for transport passengers, residents who rely on electrical power and other infrastructure.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.