June 17, 2024
Ultrasonic Non Destructive Testing Equipment Market

Ultrasonic Non Destructive Testing Equipment Market is Driven by Growing Adoption in Aerospace and Manufacturing Industries

Ultrasonic non-destructive testing equipment uses high-frequency sound waves to examine the properties of a material or component without causing damage. These equipment find extensive applications in several industries for detecting flaws or discontinuities in products or structures. Some key applications include testing of aircraft components in the aerospace industry and defect detection in welded joints, castings, and forgings in manufacturing plants. Ultrasonic testing aids in quality control and assessing structural integrity without dismantling or destroying the test specimen. This prevents unnecessary product recalls and ensures safety-critical applications. The demand for precise and quality inspection is inducing manufacturers to increasingly adopt advanced ultrasonic techniques over traditional methods.

The global Ultrasonic Non Destructive Testing Equipment Market is estimated to be valued at US$ 942.69 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Portable ultrasonic testing equipment is gaining traction driven by their mobility and versatility. Compared to bulkier lab-based units, portable ultrasound machines offer on-site scanning and real-time flaw detection capabilities. They are lightweight, compact and powered by rechargeable batteries for outdoor inspections. This allows convenient testing of hard-to-access areas such as aircraft wings, pipe sections and congested industrial plants without dismantling equipment. Their rising uptake is supported by ongoing technological advancements including improved imaging software, higher resolution scans and intuitive interfaces for simplified operations. As portability becomes imperative, demand for portable ultrasonic NDT devices is expected to increase over the forecast period.

Porter’s Analysis
Threat of new entrants: Low as considerable capital investment is required for R&D, technology and manufacturing facilities. Existing players have established brand names, distribution channels and financial strength.

Bargaining power of buyers: Moderate as equipment are differentiated in technology and functionality. However, large buyers can negotiate on price and payment terms.

Bargaining power of suppliers: Low due to the availability of substitute raw materials and components from various suppliers across the world.

Threat of new substitutes: Low as ultrasonic NDT equipment offers unique advantages over traditional methods and provides precise results.

Competitive rivalry: High among key industry players like OLYMPUS, MAGNAFLUX, KARL DEUTSCH, Proceq and Zetec due to technological innovation.

Key Takeaways
The Global Ultrasonic Non Destructive Testing Equipment Market Size is expected to witness high growth. The global Ultrasonic Non Destructive Testing Equipment Market is estimated to be valued at US$ 942.69 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2031.

North America holds the largest market share currently led by the U.S due to stringent government regulations regarding infrastructure inspections and component quality checks in industries like oil & gas, automotive and aerospace. Asia Pacific is expected to grow at the fastest pace during the forecast period led by China, Japan and India due to rising industrialization and infrastructure development activities. Establishing local manufacturing facilities by global players will further boost the regional market.

Key players: Key players operating in the Ultrasonic Non Destructive Testing Equipment market are Aditya Birla Chemicals, Glanzstoff, Jilin Chemical Fiber Group Co. Ltd, Kelheim Fibers GmbH, LENZINGAG, Nanjing Chemical Fibre Co. Ltd, Sateri, SNIACE Group, Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd, Xinjiang Zhongtai Chemical Co. Ltd, and Yibin Grace Company Limited (Milan). These companies are focusing on new product launches and strengthening global distribution networks to gain competitive advantage.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it