Ultrasonic Testing Market by Phased Array, Time-of-flight Diffraction, Immersion Testing, Guided Wave Testing, Acoustography, Flaw Detectors, Thickness Gauges, Transducers & Probes, Inspection Services and Calibration Services - Global Forecast to 2029
The ultrasonic testing market is expected to reach USD 4.60 billion by 2029 from USD 2.92 billion in 2024, at a CAGR of 9.5% during the 2024-2029 period.
These investments require rigorous quality assurance and safety inspections on multiple structural components. Global enhancement of infrastructures, including bridges, highways, railways, and energy facilities, requires reliable non-destructive testing methods for detecting flaws. This inspection technique is also known because ultrasonic testing allows for determining the integrity of materials by finding internal flaws without destroying them, thereby being fundamental in the building and subsequent maintenance of any critical structure.
Large investments are made for infrastructure projects in emerging economies like India and China for instance to build new transportation structures, power plants, and urban development. This raises the demand for strict safety standards combined with quality materials and work that would ensure durability and safety. Ultrasonic testing is used to inspect welds, check the material thickness, and analyze the structural integrity of the components in these structures.
“Oil & gas vertical of the ultrasonic testing market is expected to hold the 2nd largest market share during the forecast period from 2024-2029”
Strict regulatory and environmental standards drive ultrasonic testing adoption in the oil and gas industry. This is due to stringent safety and environmental protection guidelines enforced by regulatory bodies. To protect air, water, and soil from hazardous pollutants, the US Environmental Protection Agency (EPA) has mandated some strict leak- and spill-proofing measures, particularly within the oil and gas infrastructure. The Pipeline and Hazardous Materials Safety Administration (PHMSA), through the Pipeline Safety Act and other regulations, requires regular inspections of pipelines to detect corrosion cracking and other structural weaknesses. Some amendments, such as the Pipeline Safety Act in 2021, also emphasize the use of more modern, non-destructive testing methods, including ultrasonic testing, such that pipelines meet higher standards for safety where they pose high risks and pass by close to population centers or highly sensitive ecological areas.
“India is projected to grow at the highest CAGR during the forecast period from 2024-2029”
The stringent quality and safety standards set by the government of India in all the key industries have raised the demand for non-destructive testing (NDT) to a considerable level. In this regard, ultrasonic testing has emerged as a crucial tool to meet compliance requirements. With growing aerospace, oil and gas, and infrastructure industries, higher safety and reliability standards are required to avoid failures and ensure efficiency in operations.
Ultrasonic testing in the aerospace industry is a requirement to check the welds and materials while manufacturing aircraft parts. It is regulated by the standards of Indian national specifications of the Directorate General of Civil Aviation, or DGCA. In 2023, the Ministry of Defence made a declaration to enhance the defense manufacturing in India through indigenization, leading to new DRDO guidelines on ultrasonic testing of aircraft and other defense-related equipment. Infrastructure safety standards have also been enhanced.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the Ultrasonic testing market.
The break-up of the profile of primary participants in the Ultrasonic testing market-
Research Coverage
The report segments the ultrasonic testing market and forecasts its size by region. It also comprehensively reviews drivers, restraints, opportunities, and challenges influencing market growth. The report covers qualitative aspects in addition to quantitative aspects of the market.
This report has categorized the ultrasonic testing market by type (phased array, time-of-flight diffraction, immersion testing, guided wave testing, acoustography), equipment (flaw detectors, thickness gauges, transducers & probes, industrial scanners, tube inspection systems, bond testers, imaging systems), service type (inspection services, equipment rental services, calibration services, training services), vertical (manufacturing, oil & gas, aerospace, government & infrastructure, power generation, automotive, marine), and region (North America, Europe, Asia Pacific, RoW).
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall ultrasonic testing market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the objectives of the market and provides information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
These investments require rigorous quality assurance and safety inspections on multiple structural components. Global enhancement of infrastructures, including bridges, highways, railways, and energy facilities, requires reliable non-destructive testing methods for detecting flaws. This inspection technique is also known because ultrasonic testing allows for determining the integrity of materials by finding internal flaws without destroying them, thereby being fundamental in the building and subsequent maintenance of any critical structure.
Large investments are made for infrastructure projects in emerging economies like India and China for instance to build new transportation structures, power plants, and urban development. This raises the demand for strict safety standards combined with quality materials and work that would ensure durability and safety. Ultrasonic testing is used to inspect welds, check the material thickness, and analyze the structural integrity of the components in these structures.
“Oil & gas vertical of the ultrasonic testing market is expected to hold the 2nd largest market share during the forecast period from 2024-2029”
Strict regulatory and environmental standards drive ultrasonic testing adoption in the oil and gas industry. This is due to stringent safety and environmental protection guidelines enforced by regulatory bodies. To protect air, water, and soil from hazardous pollutants, the US Environmental Protection Agency (EPA) has mandated some strict leak- and spill-proofing measures, particularly within the oil and gas infrastructure. The Pipeline and Hazardous Materials Safety Administration (PHMSA), through the Pipeline Safety Act and other regulations, requires regular inspections of pipelines to detect corrosion cracking and other structural weaknesses. Some amendments, such as the Pipeline Safety Act in 2021, also emphasize the use of more modern, non-destructive testing methods, including ultrasonic testing, such that pipelines meet higher standards for safety where they pose high risks and pass by close to population centers or highly sensitive ecological areas.
“India is projected to grow at the highest CAGR during the forecast period from 2024-2029”
The stringent quality and safety standards set by the government of India in all the key industries have raised the demand for non-destructive testing (NDT) to a considerable level. In this regard, ultrasonic testing has emerged as a crucial tool to meet compliance requirements. With growing aerospace, oil and gas, and infrastructure industries, higher safety and reliability standards are required to avoid failures and ensure efficiency in operations.
Ultrasonic testing in the aerospace industry is a requirement to check the welds and materials while manufacturing aircraft parts. It is regulated by the standards of Indian national specifications of the Directorate General of Civil Aviation, or DGCA. In 2023, the Ministry of Defence made a declaration to enhance the defense manufacturing in India through indigenization, leading to new DRDO guidelines on ultrasonic testing of aircraft and other defense-related equipment. Infrastructure safety standards have also been enhanced.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the Ultrasonic testing market.
The break-up of the profile of primary participants in the Ultrasonic testing market-
- By Company Type: Tier 1 – 26%, Tier 2 – 32%, Tier 3 – 42%
- By Designation Type: C Level Excecutives – 52%, Directors – 23%, Others – 25%
- By Region Type: North America – 44%, Europe –29 %, Asia Pacific– 23%, RoW – 4%,
Research Coverage
The report segments the ultrasonic testing market and forecasts its size by region. It also comprehensively reviews drivers, restraints, opportunities, and challenges influencing market growth. The report covers qualitative aspects in addition to quantitative aspects of the market.
This report has categorized the ultrasonic testing market by type (phased array, time-of-flight diffraction, immersion testing, guided wave testing, acoustography), equipment (flaw detectors, thickness gauges, transducers & probes, industrial scanners, tube inspection systems, bond testers, imaging systems), service type (inspection services, equipment rental services, calibration services, training services), vertical (manufacturing, oil & gas, aerospace, government & infrastructure, power generation, automotive, marine), and region (North America, Europe, Asia Pacific, RoW).
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall ultrasonic testing market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the objectives of the market and provides information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (growing adoption of portable phased array ultrasonic testing equipment), restraint (complex nature of the technology), opportunities (growing emphasis on predictive maintenance), and challenges (high maintenance cost and downtime of equipment)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ultrasonic testing market
- Market Development: Comprehensive information about lucrative markets – the report analyses the ultrasonic testing market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ultrasonic testing market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Baker Hughes Company (US), SGS SOCIETE GENERALE DE SURVEILLANCE SA. (Switzerland), Intertek Group plc (UK), DEKRA (Germany), and MISTRAS Group (US).
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 INCLUSIONS AND EXCLUSIONS
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary Interviews
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis
(Demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis
(Supply Side)
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
2.5 RISK ASSESSMENT
2.5.1 RISK FACTOR ANALYSIS
2.6 RESEARCH ASSUMPTIONS
2.7 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ULTRASONIC TESTING MARKET
4.2 ULTRASONIC TESTING MARKET, BY SERVICE
4.3 ULTRASONIC TESTING MARKET, BY VERTICAL
4.4 ULTRASONIC TESTING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Stringent government regulations and industry standards
5.2.1.2 Increasing adoption of ultrasonic testing in healthcare
5.2.1.3 Growing adoption of portable phased array ultrasonic testing equipment
5.2.1.4 Growing offshore oil and gas exploration
5.2.1.5 Rising investments in infrastructure development
5.2.2 RESTRAINTS
5.2.2.1 Manual ultrasonic testing limitations in early stages of damage detection
5.2.2.2 Complex nature of ultrasonic testing technology
5.2.3 OPPORTUNITIES
5.2.3.1 Growing emphasis on predictive maintenance
5.2.3.2 Rising number of renewable energy projects
5.2.4 CHALLENGES
5.2.4.1 Limited availability of skilled technicians
5.2.4.2 High maintenance cost and downtime of equipment
5.3 PORTER'S FIVE FORCES ANALYSIS
5.3.1 INTENSITY OF COMPETITIVE RIVALRY
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 THREAT OF SUBSTITUTES
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 BARGAINING POWER OF SUPPLIERS
5.4 VALUE CHAIN ANALYSIS
5.4.1 RAW MATERIAL PROVIDERS
5.4.2 COMPONENT SUPPLIERS
5.4.3 EQUIPMENT DESIGNERS AND MANUFACTURERS
5.4.4 SALES EXECUTIVES AND DISTRIBUTORS
5.4.5 SERVICE PROVIDERS
5.4.6 VERTICALS
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Full matrix capture (FMC) and total focusing method (TFM)
5.7.1.2 Electromagnetic acoustic transducer (EMAT)
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Guided wave ultrasonic testing (GWUT)
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Dynamic interferometer
5.8 INVESTMENT AND FUNDING SCENARIO
5.9 PRICING ANALYSIS
5.9.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY EQUIPMENT
5.9.2 AVERAGE SELLING PRICE TREND, BY REGION
5.10 CASE STUDY ANALYSIS
5.10.1 GUIDED ULTRASONICS LTD. ADDRESSES CORROSION UNDER PIPE SUPPORT IN OIL & GAS INDUSTRY
5.10.2 ULTRASONIC INSPECTION OF FLARE STACK USING ROPE ACCESS ENGINEERING BY SUTRO GROUP
5.10.3 OPTIMIZING HEAT EXCHANGER WELD INSPECTIONS WITH COBRA PHASED ARRAY ULTRASONIC TESTING (PAUT) SOLUTION BY EVIDENT
5.11 PATENT ANALYSIS
5.12 TRADE ANALYSIS
5.12.1 IMPORT SCENARIO (HS CODE 9031)
5.12.2 EXPORT SCENARIO (HS CODE 9031)
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.13.2 BUYING CRITERIA
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 KEY CONFERENCES AND EVENTS, 2024–2025
5.16 IMPACT OF GENERATIVE AI/AI ON ULTRASONIC TESTING MARKET
5.16.1 INTRODUCTION
6 ULTRASONIC TESTING MARKET, BY EQUIPMENT
6.1 INTRODUCTION
6.2 FLAW DETECTORS
6.2.1 ABILITY OF FLAW DETECTORS TO IDENTIFY DISCONTINUITIES TO DRIVE THEIR ADOPTION
6.3 THICKNESS GAUGES
6.3.1 HIGH PRECISION OF ULTRASONIC THICKNESS GAUGES TO DRIVE THEIR USE IN OIL & GAS INDUSTRY
6.4 TRANSDUCERS & PROBES
6.4.1 ROBUST INSPECTION CAPABILITIES OF TRANSDUCERS AND PROBES TO PROPEL THEIR ADOPTION
6.5 INDUSTRIAL SCANNERS
6.5.1 FOCUS ON ENHANCED QUALITY AND PRECISION IN TESTING RESULTS TO BOOST ADOPTION OF INDUSTRIAL SCANNERS
6.6 TUBE INSPECTION SYSTEMS
6.6.1 NEED FOR HIGH-PRECISION DETECTION OF CORROSION AND CRACKS TO FUEL ADOPTION OF TUBE INSPECTION SYSTEMS IN POWER SECTOR
6.7 BOND TESTERS
6.7.1 EFFECTIVENESS OF BOND TESTERS IN VERIFYING INTEGRITY OF ADHESIVELY BONDED JOINTS TO FUEL THEIR ADOPTION IN OIL & GAS AND AEROSPACE INDUSTRIES
6.8 IMAGING SYSTEMS
6.8.1 IMAGING SYSTEMS ENABLE IDENTIFICATION OF INTERNAL FLAWS WITHOUT CAUSING DAMAGE
6.9 OTHERS
7 ULTRASONIC TESTING MARKET, BY SERVICE
7.1 INTRODUCTION
7.2 INSPECTION SERVICES
7.2.1 NEED FOR IMPROVED ACCURACY, EFFICIENCY, QUICK INSPECTION TIMES, AND REDUCED COSTS TO DRIVE MARKET
7.3 EQUIPMENT RENTAL SERVICES
7.3.1 DEMAND FOR COST-EFFECTIVE WAY TO ACCESS SPECIALIZED TESTING TOOLS TO DRIVE MARKET
7.4 CALIBRATION SERVICES
7.4.1 EMPHASIS ON ENHANCED MEASUREMENT ACCURACY AND REDUCED TESTING EQUIPMENT UNCERTAINTIES TO DRIVE SEGMENTAL GROWTH
7.5 TRAINING SERVICES
7.5.1 WIDE COVERAGE OF ULTRASONIC TESTING ACROSS INDUSTRIES TO FUEL DEMAND
8 ULTRASONIC TESTING MARKET, BY TYPE
8.1 INTRODUCTION
8.2 PHASED ARRAY
8.2.1 NEED FOR ENHANCED ACCURACY AND QUICK AND EFFICIENT INSPECTION TO DRIVE MARKET
8.3 TIME-OF-FLIGHT DIFFRACTION
8.3.1 OFFERS ACCURATE DETECTION OF CRACKS AND FUSION DEFICIENCIES
8.4 IMMERSION TESTING
8.4.1 OFFERS ENHANCED DETECTION OF INTERNAL AND SURFACE FLAWS
8.5 GUIDED WAVE TESTING
8.5.1 LONG-RANGE INSPECTION AND MONITORING CAPABILITIES OF GUIDED WAVE TESTING TO DRIVE MARKET
8.6 ACOUSTOGRAPHY
8.6.1 SUITABILITY OF ACOUSTOGRAPHY FOR SINGLE-SIDE INSPECTION WITHOUT REQUIRING IMMERSION TANK TO DRIVE MARKET
8.7 OTHER TYPES
9 ULTRASONIC TESTING MARKET, BY VERTICAL
9.1 INTRODUCTION
9.2 MANUFACTURING
9.2.1 NEED FOR RIGOROUS QUALITY STANDARDS TO ENSURE PRODUCT RELIABILITY AND SAFETY TO BOOST MARKET
9.3 OIL & GAS
9.3.1 STRINGENT REGULATIONS TO PREVENT LEAKS AND SPILLS TO BOOST ADOPTION OF ULTRASONIC TESTING SERVICES
9.4 AEROSPACE
9.4.1 EXTENSIVE USE OF COMPOSITE MATERIALS TO FUEL NEED FOR ULTRASONIC TESTING SERVICES
9.5 GOVERNMENT & INFRASTRUCTURE
9.5.1 EMPHASIS ON MAINTAINING INFRASTRUCTURAL INTEGRITY TO PROPEL DEMAND FOR ULTRASONIC TESTING SERVICES
9.6 AUTOMOTIVE
9.6.1 RISING DEMAND FOR SAFETY AND QUALITY ASSURANCE TO BOOST GROWTH
9.7 POWER GENERATION
9.7.1 STRINGENT SAFETY AND REGULATORY REQUIREMENTS
TO ENCOURAGE USE OF ULTRASONIC TESTING SERVICES
9.8 MARINE
9.8.1 AGING GLOBAL FLEET AND INCREASED MAINTENANCE NEEDS
TO DRIVE MARKET
9.9 OTHER VERTICALS
10 ULTRASONIC TESTING MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK
10.2.2 US
10.2.2.1 Increasing adoption of ultrasonic testing services in automotive and aerospace industries to boost growth
10.2.3 CANADA
10.2.3.1 Significant growth in aging infrastructure needing inspection and maintenance to boost market
10.2.4 MEXICO
10.2.4.1 Need for adherence to domestic and international safety standards to propel market
10.3 EUROPE
10.3.1 EUROPE: MACROECONOMIC OUTLOOK
10.3.2 GERMANY
10.3.2.1 Growing automotive and aerospace industries to fuel demand for ultrasonic testing services
10.3.3 UK
10.3.3.1 Significant growth in aging infrastructure to drive demand for ultrasonic testing services
10.3.4 FRANCE
10.3.4.1 Growing emphasis on safety and durability of infrastructure to boost market
10.3.5 ITALY
10.3.5.1 Booming aerospace & defense sector to propel need for advanced ultrasonic testing services
10.3.6 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK
10.4.2 CHINA
10.4.2.1 China’s energy sector uses ultrasonic testing services to maintain safety and operational standards
10.4.3 JAPAN
10.4.3.1 Need for frequent inspection of bridges, tunnels, and dams for safety and longevity to boost growth
10.4.4 INDIA
10.4.4.1 Increasing safety regulations and quality control measures across industries to boost demand
10.4.5 REST OF ASIA PACIFIC
10.5 REST OF THE WORLD (ROW)
10.5.1 ROW: MACROECONOMIC OUTLOOK
10.5.2 SOUTH AMERICA
10.5.2.1 Brazil
10.5.2.1.1 Emphasis on preventive maintenance and inspection strategies in industries like manufacturing and construction to drive market
10.5.2.2 Rest of South America
10.5.3 MIDDLE EAST & AFRICA
10.5.3.1 GCC
10.5.3.1.1 Focus on necessitating rigorous inspection and maintenance of pipelines, rigs, and refineries to boost demand
10.5.3.2 Rest of Middle East & Africa
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, MAY 2021–OCTOBER 2024
11.3 REVENUE ANALYSIS, 2021–2023
11.4 MARKET SHARE ANALYSIS, 2023
11.5 COMPANY VALUATION AND FINANCIAL METRICS
11.6 PRODUCT/BRAND COMPARISON
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.7.1 STARS
11.7.2 EMERGING LEADERS
11.7.3 PERVASIVE PLAYERS
11.7.4 PARTICIPANTS
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
11.7.5.1 Company footprint
11.7.5.2 Company footprint: Key players, 2023
11.7.5.3 Region footprint
11.7.5.4 Type footprint
11.7.5.5 Equipment footprint
11.7.5.6 Service footprint
11.7.5.7 Vertical footprint
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
11.8.1 PROGRESSIVE COMPANIES
11.8.2 RESPONSIVE COMPANIES
11.8.3 DYNAMIC COMPANIES
11.8.4 STARTING BLOCKS
11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
11.8.5.1 List of startups/SMEs
11.8.5.2 Competitive benchmarking of startups/SMEs
11.9 COMPETITIVE SCENARIO
11.9.1 PRODUCT LAUNCHES
11.9.2 DEALS
12 COMPANY PROFILES
12.1 KEY EQUIPMENT MANUFACTURERS
12.1.1 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES)
12.1.1.1 Business overview
12.1.1.2 Products/Solutions/Services offered
12.1.1.3 Recent developments
12.1.1.3.1 Product launches
12.1.1.4 MnM view
12.1.1.4.1 Key strengths/Right to win
12.1.1.4.2 Strategic choices
12.1.1.4.3 Weaknesses/Competitive threats
12.1.2 EVIDENT
12.1.2.1 Business overview
12.1.2.2 Products/Solutions/Services offered
12.1.2.3 Recent developments
12.1.2.3.1 Product launches
12.1.2.4 MnM view
12.1.2.4.1 Key strengths/Right to win
12.1.2.4.2 Strategic choices
12.1.2.4.3 Weaknesses/Competitive threats
12.1.3 EDDYFI
12.1.3.1 Business overview
12.1.3.2 Products/Solutions/Services offered
12.1.3.3 Recent developments
12.1.3.3.1 Product launches
12.1.3.3.2 Deals
12.1.4 SONATEST
12.1.4.1 Business overview
12.1.4.2 Products/Solutions/Services offered
12.1.5 NDT SYSTEMS INC
12.1.5.1 Business overview
12.1.5.2 Products/Solutions/Services offered
12.2 KEY SERVICE PROVIDERS
12.2.1 SGS SOCIЙTЙ GЙNЙRALE DE SURVEILLANCE SA.
12.2.1.1 Business overview
12.2.1.2 Products/Solutions/Services offered
12.2.1.3 MnM view
12.2.1.3.1 Key strengths
12.2.1.3.2 Strategic choices
12.2.1.3.3 Weaknesses/Competitive threats
12.2.2 INTERTEK GROUP PLC
12.2.2.1 Business overview
12.2.2.2 Products/Solutions/Services offered
12.2.2.3 MnM view
12.2.2.3.1 Key strengths/Right to win
12.2.2.3.2 Strategic choices
12.2.2.3.3 Weaknesses/Competitive threats
12.2.3 MISTRAS GROUP
12.2.3.1 Business overview
12.2.3.2 Products/Solutions/Services offered
12.2.3.3 MnM view
12.2.3.3.1 Key strengths/Right to win
12.2.3.3.2 Strategic choices
12.2.3.3.3 Weaknesses/Competitive threats
12.2.4 DEKRA
12.2.4.1 Business overview
12.2.4.2 Products/Solutions/Services offered
12.2.4.3 MnM view
12.2.4.3.1 Key strengths/Right to win
12.2.4.3.2 Strategic choices
12.2.4.3.3 Weaknesses/Competitive threats
12.2.5 APPLUS+
12.2.5.1 Business overview
12.2.5.2 Products/Solutions/Services offered
12.2.6 TЬV RHEINLAND
12.2.6.1 Business overview
12.2.6.2 Products/Solutions/Services offered
12.2.7 ELEMENT MATERIALS TECHNOLOGY
12.2.7.1 Business overview
12.2.7.2 Products/Solutions/Services offered
12.2.7.3 Recent developments
12.2.7.3.1 Deals
12.3 OTHER PLAYERS
12.3.1 ACOUSTIC CONTROL SYSTEMS
12.3.2 AMERAPEX CORPORATION
12.3.3 ASHTEAD TECHNOLOGY
12.3.4 ACUREN
12.3.5 MODSONIC INSTRUMENTS MFG. CO. (P) LTD.
12.3.6 SONOTEC GMBH
12.3.7 APPLIED TECHNICAL SERVICES
12.3.8 NEXXIS
12.3.9 VERTECH GROUP
12.3.10 GUIDED ULTRASONICS LTD.
12.3.11 IRISNDT
12.3.12 NANJING BKN AUTOMATION SYSTEM CO., LTD.
12.3.13 OKONDT GROUP
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 INCLUSIONS AND EXCLUSIONS
1.4 CURRENCY CONSIDERED
1.5 UNIT CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.1.2 Key secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key participants in primary interviews
2.1.2.3 Breakdown of primary Interviews
2.1.2.4 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis
(Demand side)
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis
(Supply Side)
2.3 MARKET SHARE ESTIMATION
2.4 DATA TRIANGULATION
2.5 RISK ASSESSMENT
2.5.1 RISK FACTOR ANALYSIS
2.6 RESEARCH ASSUMPTIONS
2.7 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ULTRASONIC TESTING MARKET
4.2 ULTRASONIC TESTING MARKET, BY SERVICE
4.3 ULTRASONIC TESTING MARKET, BY VERTICAL
4.4 ULTRASONIC TESTING MARKET, BY REGION
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Stringent government regulations and industry standards
5.2.1.2 Increasing adoption of ultrasonic testing in healthcare
5.2.1.3 Growing adoption of portable phased array ultrasonic testing equipment
5.2.1.4 Growing offshore oil and gas exploration
5.2.1.5 Rising investments in infrastructure development
5.2.2 RESTRAINTS
5.2.2.1 Manual ultrasonic testing limitations in early stages of damage detection
5.2.2.2 Complex nature of ultrasonic testing technology
5.2.3 OPPORTUNITIES
5.2.3.1 Growing emphasis on predictive maintenance
5.2.3.2 Rising number of renewable energy projects
5.2.4 CHALLENGES
5.2.4.1 Limited availability of skilled technicians
5.2.4.2 High maintenance cost and downtime of equipment
5.3 PORTER'S FIVE FORCES ANALYSIS
5.3.1 INTENSITY OF COMPETITIVE RIVALRY
5.3.2 THREAT OF NEW ENTRANTS
5.3.3 THREAT OF SUBSTITUTES
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 BARGAINING POWER OF SUPPLIERS
5.4 VALUE CHAIN ANALYSIS
5.4.1 RAW MATERIAL PROVIDERS
5.4.2 COMPONENT SUPPLIERS
5.4.3 EQUIPMENT DESIGNERS AND MANUFACTURERS
5.4.4 SALES EXECUTIVES AND DISTRIBUTORS
5.4.5 SERVICE PROVIDERS
5.4.6 VERTICALS
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.6 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Full matrix capture (FMC) and total focusing method (TFM)
5.7.1.2 Electromagnetic acoustic transducer (EMAT)
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Guided wave ultrasonic testing (GWUT)
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Dynamic interferometer
5.8 INVESTMENT AND FUNDING SCENARIO
5.9 PRICING ANALYSIS
5.9.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY EQUIPMENT
5.9.2 AVERAGE SELLING PRICE TREND, BY REGION
5.10 CASE STUDY ANALYSIS
5.10.1 GUIDED ULTRASONICS LTD. ADDRESSES CORROSION UNDER PIPE SUPPORT IN OIL & GAS INDUSTRY
5.10.2 ULTRASONIC INSPECTION OF FLARE STACK USING ROPE ACCESS ENGINEERING BY SUTRO GROUP
5.10.3 OPTIMIZING HEAT EXCHANGER WELD INSPECTIONS WITH COBRA PHASED ARRAY ULTRASONIC TESTING (PAUT) SOLUTION BY EVIDENT
5.11 PATENT ANALYSIS
5.12 TRADE ANALYSIS
5.12.1 IMPORT SCENARIO (HS CODE 9031)
5.12.2 EXPORT SCENARIO (HS CODE 9031)
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS
5.13.2 BUYING CRITERIA
5.14 TARIFF AND REGULATORY LANDSCAPE
5.14.1 TARIFF ANALYSIS
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 KEY CONFERENCES AND EVENTS, 2024–2025
5.16 IMPACT OF GENERATIVE AI/AI ON ULTRASONIC TESTING MARKET
5.16.1 INTRODUCTION
6 ULTRASONIC TESTING MARKET, BY EQUIPMENT
6.1 INTRODUCTION
6.2 FLAW DETECTORS
6.2.1 ABILITY OF FLAW DETECTORS TO IDENTIFY DISCONTINUITIES TO DRIVE THEIR ADOPTION
6.3 THICKNESS GAUGES
6.3.1 HIGH PRECISION OF ULTRASONIC THICKNESS GAUGES TO DRIVE THEIR USE IN OIL & GAS INDUSTRY
6.4 TRANSDUCERS & PROBES
6.4.1 ROBUST INSPECTION CAPABILITIES OF TRANSDUCERS AND PROBES TO PROPEL THEIR ADOPTION
6.5 INDUSTRIAL SCANNERS
6.5.1 FOCUS ON ENHANCED QUALITY AND PRECISION IN TESTING RESULTS TO BOOST ADOPTION OF INDUSTRIAL SCANNERS
6.6 TUBE INSPECTION SYSTEMS
6.6.1 NEED FOR HIGH-PRECISION DETECTION OF CORROSION AND CRACKS TO FUEL ADOPTION OF TUBE INSPECTION SYSTEMS IN POWER SECTOR
6.7 BOND TESTERS
6.7.1 EFFECTIVENESS OF BOND TESTERS IN VERIFYING INTEGRITY OF ADHESIVELY BONDED JOINTS TO FUEL THEIR ADOPTION IN OIL & GAS AND AEROSPACE INDUSTRIES
6.8 IMAGING SYSTEMS
6.8.1 IMAGING SYSTEMS ENABLE IDENTIFICATION OF INTERNAL FLAWS WITHOUT CAUSING DAMAGE
6.9 OTHERS
7 ULTRASONIC TESTING MARKET, BY SERVICE
7.1 INTRODUCTION
7.2 INSPECTION SERVICES
7.2.1 NEED FOR IMPROVED ACCURACY, EFFICIENCY, QUICK INSPECTION TIMES, AND REDUCED COSTS TO DRIVE MARKET
7.3 EQUIPMENT RENTAL SERVICES
7.3.1 DEMAND FOR COST-EFFECTIVE WAY TO ACCESS SPECIALIZED TESTING TOOLS TO DRIVE MARKET
7.4 CALIBRATION SERVICES
7.4.1 EMPHASIS ON ENHANCED MEASUREMENT ACCURACY AND REDUCED TESTING EQUIPMENT UNCERTAINTIES TO DRIVE SEGMENTAL GROWTH
7.5 TRAINING SERVICES
7.5.1 WIDE COVERAGE OF ULTRASONIC TESTING ACROSS INDUSTRIES TO FUEL DEMAND
8 ULTRASONIC TESTING MARKET, BY TYPE
8.1 INTRODUCTION
8.2 PHASED ARRAY
8.2.1 NEED FOR ENHANCED ACCURACY AND QUICK AND EFFICIENT INSPECTION TO DRIVE MARKET
8.3 TIME-OF-FLIGHT DIFFRACTION
8.3.1 OFFERS ACCURATE DETECTION OF CRACKS AND FUSION DEFICIENCIES
8.4 IMMERSION TESTING
8.4.1 OFFERS ENHANCED DETECTION OF INTERNAL AND SURFACE FLAWS
8.5 GUIDED WAVE TESTING
8.5.1 LONG-RANGE INSPECTION AND MONITORING CAPABILITIES OF GUIDED WAVE TESTING TO DRIVE MARKET
8.6 ACOUSTOGRAPHY
8.6.1 SUITABILITY OF ACOUSTOGRAPHY FOR SINGLE-SIDE INSPECTION WITHOUT REQUIRING IMMERSION TANK TO DRIVE MARKET
8.7 OTHER TYPES
9 ULTRASONIC TESTING MARKET, BY VERTICAL
9.1 INTRODUCTION
9.2 MANUFACTURING
9.2.1 NEED FOR RIGOROUS QUALITY STANDARDS TO ENSURE PRODUCT RELIABILITY AND SAFETY TO BOOST MARKET
9.3 OIL & GAS
9.3.1 STRINGENT REGULATIONS TO PREVENT LEAKS AND SPILLS TO BOOST ADOPTION OF ULTRASONIC TESTING SERVICES
9.4 AEROSPACE
9.4.1 EXTENSIVE USE OF COMPOSITE MATERIALS TO FUEL NEED FOR ULTRASONIC TESTING SERVICES
9.5 GOVERNMENT & INFRASTRUCTURE
9.5.1 EMPHASIS ON MAINTAINING INFRASTRUCTURAL INTEGRITY TO PROPEL DEMAND FOR ULTRASONIC TESTING SERVICES
9.6 AUTOMOTIVE
9.6.1 RISING DEMAND FOR SAFETY AND QUALITY ASSURANCE TO BOOST GROWTH
9.7 POWER GENERATION
9.7.1 STRINGENT SAFETY AND REGULATORY REQUIREMENTS
TO ENCOURAGE USE OF ULTRASONIC TESTING SERVICES
9.8 MARINE
9.8.1 AGING GLOBAL FLEET AND INCREASED MAINTENANCE NEEDS
TO DRIVE MARKET
9.9 OTHER VERTICALS
10 ULTRASONIC TESTING MARKET, BY REGION
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK
10.2.2 US
10.2.2.1 Increasing adoption of ultrasonic testing services in automotive and aerospace industries to boost growth
10.2.3 CANADA
10.2.3.1 Significant growth in aging infrastructure needing inspection and maintenance to boost market
10.2.4 MEXICO
10.2.4.1 Need for adherence to domestic and international safety standards to propel market
10.3 EUROPE
10.3.1 EUROPE: MACROECONOMIC OUTLOOK
10.3.2 GERMANY
10.3.2.1 Growing automotive and aerospace industries to fuel demand for ultrasonic testing services
10.3.3 UK
10.3.3.1 Significant growth in aging infrastructure to drive demand for ultrasonic testing services
10.3.4 FRANCE
10.3.4.1 Growing emphasis on safety and durability of infrastructure to boost market
10.3.5 ITALY
10.3.5.1 Booming aerospace & defense sector to propel need for advanced ultrasonic testing services
10.3.6 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK
10.4.2 CHINA
10.4.2.1 China’s energy sector uses ultrasonic testing services to maintain safety and operational standards
10.4.3 JAPAN
10.4.3.1 Need for frequent inspection of bridges, tunnels, and dams for safety and longevity to boost growth
10.4.4 INDIA
10.4.4.1 Increasing safety regulations and quality control measures across industries to boost demand
10.4.5 REST OF ASIA PACIFIC
10.5 REST OF THE WORLD (ROW)
10.5.1 ROW: MACROECONOMIC OUTLOOK
10.5.2 SOUTH AMERICA
10.5.2.1 Brazil
10.5.2.1.1 Emphasis on preventive maintenance and inspection strategies in industries like manufacturing and construction to drive market
10.5.2.2 Rest of South America
10.5.3 MIDDLE EAST & AFRICA
10.5.3.1 GCC
10.5.3.1.1 Focus on necessitating rigorous inspection and maintenance of pipelines, rigs, and refineries to boost demand
10.5.3.2 Rest of Middle East & Africa
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, MAY 2021–OCTOBER 2024
11.3 REVENUE ANALYSIS, 2021–2023
11.4 MARKET SHARE ANALYSIS, 2023
11.5 COMPANY VALUATION AND FINANCIAL METRICS
11.6 PRODUCT/BRAND COMPARISON
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.7.1 STARS
11.7.2 EMERGING LEADERS
11.7.3 PERVASIVE PLAYERS
11.7.4 PARTICIPANTS
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
11.7.5.1 Company footprint
11.7.5.2 Company footprint: Key players, 2023
11.7.5.3 Region footprint
11.7.5.4 Type footprint
11.7.5.5 Equipment footprint
11.7.5.6 Service footprint
11.7.5.7 Vertical footprint
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
11.8.1 PROGRESSIVE COMPANIES
11.8.2 RESPONSIVE COMPANIES
11.8.3 DYNAMIC COMPANIES
11.8.4 STARTING BLOCKS
11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
11.8.5.1 List of startups/SMEs
11.8.5.2 Competitive benchmarking of startups/SMEs
11.9 COMPETITIVE SCENARIO
11.9.1 PRODUCT LAUNCHES
11.9.2 DEALS
12 COMPANY PROFILES
12.1 KEY EQUIPMENT MANUFACTURERS
12.1.1 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES)
12.1.1.1 Business overview
12.1.1.2 Products/Solutions/Services offered
12.1.1.3 Recent developments
12.1.1.3.1 Product launches
12.1.1.4 MnM view
12.1.1.4.1 Key strengths/Right to win
12.1.1.4.2 Strategic choices
12.1.1.4.3 Weaknesses/Competitive threats
12.1.2 EVIDENT
12.1.2.1 Business overview
12.1.2.2 Products/Solutions/Services offered
12.1.2.3 Recent developments
12.1.2.3.1 Product launches
12.1.2.4 MnM view
12.1.2.4.1 Key strengths/Right to win
12.1.2.4.2 Strategic choices
12.1.2.4.3 Weaknesses/Competitive threats
12.1.3 EDDYFI
12.1.3.1 Business overview
12.1.3.2 Products/Solutions/Services offered
12.1.3.3 Recent developments
12.1.3.3.1 Product launches
12.1.3.3.2 Deals
12.1.4 SONATEST
12.1.4.1 Business overview
12.1.4.2 Products/Solutions/Services offered
12.1.5 NDT SYSTEMS INC
12.1.5.1 Business overview
12.1.5.2 Products/Solutions/Services offered
12.2 KEY SERVICE PROVIDERS
12.2.1 SGS SOCIЙTЙ GЙNЙRALE DE SURVEILLANCE SA.
12.2.1.1 Business overview
12.2.1.2 Products/Solutions/Services offered
12.2.1.3 MnM view
12.2.1.3.1 Key strengths
12.2.1.3.2 Strategic choices
12.2.1.3.3 Weaknesses/Competitive threats
12.2.2 INTERTEK GROUP PLC
12.2.2.1 Business overview
12.2.2.2 Products/Solutions/Services offered
12.2.2.3 MnM view
12.2.2.3.1 Key strengths/Right to win
12.2.2.3.2 Strategic choices
12.2.2.3.3 Weaknesses/Competitive threats
12.2.3 MISTRAS GROUP
12.2.3.1 Business overview
12.2.3.2 Products/Solutions/Services offered
12.2.3.3 MnM view
12.2.3.3.1 Key strengths/Right to win
12.2.3.3.2 Strategic choices
12.2.3.3.3 Weaknesses/Competitive threats
12.2.4 DEKRA
12.2.4.1 Business overview
12.2.4.2 Products/Solutions/Services offered
12.2.4.3 MnM view
12.2.4.3.1 Key strengths/Right to win
12.2.4.3.2 Strategic choices
12.2.4.3.3 Weaknesses/Competitive threats
12.2.5 APPLUS+
12.2.5.1 Business overview
12.2.5.2 Products/Solutions/Services offered
12.2.6 TЬV RHEINLAND
12.2.6.1 Business overview
12.2.6.2 Products/Solutions/Services offered
12.2.7 ELEMENT MATERIALS TECHNOLOGY
12.2.7.1 Business overview
12.2.7.2 Products/Solutions/Services offered
12.2.7.3 Recent developments
12.2.7.3.1 Deals
12.3 OTHER PLAYERS
12.3.1 ACOUSTIC CONTROL SYSTEMS
12.3.2 AMERAPEX CORPORATION
12.3.3 ASHTEAD TECHNOLOGY
12.3.4 ACUREN
12.3.5 MODSONIC INSTRUMENTS MFG. CO. (P) LTD.
12.3.6 SONOTEC GMBH
12.3.7 APPLIED TECHNICAL SERVICES
12.3.8 NEXXIS
12.3.9 VERTECH GROUP
12.3.10 GUIDED ULTRASONICS LTD.
12.3.11 IRISNDT
12.3.12 NANJING BKN AUTOMATION SYSTEM CO., LTD.
12.3.13 OKONDT GROUP
13 APPENDIX
13.1 INSIGHTS FROM INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 CUSTOMIZATION OPTIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
