Ultrasonic (NDT) Non-Destructive Testing Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Ultrasonic Non-Destructive Testing (NDT) Equipment Market Analysis

The Ultrasonic Non-Destructive Testing Equipment Market size is estimated at USD 1.21 billion in 2024, and is expected to reach USD 1.85 billion by 2029, at a CAGR of 8.87% during the forecast period (2024-2029).

Non-destructive testing equipment significantly reduces time by negating the need for disassembly. These devices are particularly beneficial in aircraft maintenance. Internal structural components, such as wing ribs, traditionally examined by removing the outer skin, can now be inspected using radiographic equipment. This method not only saves time but also minimizes the risk of damage during the inspection process.

• Ultrasound transit time from the equipment accurately identifies both the size and location of faults in the tested material. Consequently, these devices are primarily employed for fault detection across various industrial sectors, particularly for verifying welds, assessing materials, and monitoring semi-finished metal products. The accuracy and dependability of ultrasound equipment render it essential in quality control processes, ensuring that industrial components adhere to stringent safety and performance standards.
• In the automotive sector, manufacturers extensively utilize non-destructive testing (NDT) equipment to inspect components post-forging, heat treatment, and machining, ensuring compliance with established standards. NDT plays a pivotal role in scrutinizing welds that connect body panels and components, confirming they possess adequate penetration, are devoid of inclusions, and lack defects that might jeopardize vehicle safety or reliability. Furthermore, the surging demand for electric and autonomous vehicles significantly amplifies the need for NDT equipment.
• In 2024, US EV sales are projected to rise by just 16% year-on-year, a stark contrast to the approximately 64% surge witnessed in 2023. Meanwhile, China anticipates an 11.1% growth in 2024, down from 36.5% the previous year. Challenges such as diminished incentives, a sparse charging infrastructure, and the market's saturation among early adopters loom large. In a bid to tap into the broader market, industry stalwarts, including Tesla, are slashing prices. Yet, this deceleration is nudging titans like GM, VW, and Ford to recalibrate their strategies, with some opting for price reductions and postponing new model launches. Even the slightest flaw in a car assembly can threaten its overall quality and dependability. Enter Eddy Current Testing (ECT) - the premier solution, renowned for its precision in swiftly and accurately detecting discontinuities in automotive components.
• Industries are mandating regular non-destructive testing (NDT) assessments for compliance. Operators of oil rigs, power plants, and chemical facilities must adhere to safety standards, ensuring their assets remain leak-free, undistorted, and safe from degradation. Detecting issues early can prevent costly leaks, deformations, and unexpected equipment failures. For example, Voliro AG, a provider of drone-enabled non-destructive testing solutions, highlighted that Fortune Global 500 firms in manufacturing and industry collectively lose significant money annually due to unplanned downtime. By conducting regular NDT testing, operators can sidestep operational failures, reduce repair costs, and prolong asset lifespans, bolstering the demand for ultrasonic NDT equipment.
• The demand for skilled technicians in ultrasonic and non-destructive testing (NDT) activities has steadily increased. Currently, this demand surpasses the available supply for various reasons. Non-destructive testing must be conducted by certified professionals who receive in-depth training from subject-matter experts to master the techniques and skills necessary for data analysis. Yet, the market's growth is significantly hindered by a shortage of skilled personnel and limited training facilities. A key challenge confronting the NDT market is this very shortage. Effective NDT application demands technical expertise and proficiency in interpreting and analyzing results.

Ultrasonic Non-Destructive Testing (NDT) Equipment Market Trends

Increased Safety Regulation is Expected to Drive the Market

Ultrasonic Non-Destructive Testing (NDT) Equipment Industry Segmentation

The ultrasonic NDT testing equipment market typically comprises system integrators and security monitoring service providers who use these types of equipment to measure the hardness, flaws, and sometimes stress on the object. The study incorporates these in the scope of the market. These instruments provide mission-critical information to avoid failure due to fatigue or construction flaws in the structure.

The ultrasonic non-destructive testing (NDT) equipment market is segmented by geography (North America [United States, Canada], Europe [Germany, United Kingdom, France, Spain, rest of Europe], Asia Pacific [China, Japan, India, South Korea, rest of Asia-Pacific], Latin America [Brazil, Argentina, rest of Latin America], Middle East and Africa [United Arab Emirates, Saudi Arabia, rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.