Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2023

Table of Contents

1 INTRODUCTION 16

1.1 STUDY OBJECTIVES 16
1.2 DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 MARKETS COVERED 17
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 18
1.5 LIMITATIONS 18
1.6 STAKEHOLDERS 18

2 RESEARCH METHODOLOGY 19

2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.1.1 Secondary sources 21
2.1.2 PRIMARY DATA 21
2.1.2.1 Primary sources 22
2.1.2.2 Key industry insights 22
2.1.2.3 Breakdown of primaries 23
2.2 MARKET SIZE ESTIMATION 23
2.2.1 BOTTOM-UP APPROACH 23
2.2.1.1 Approach for capturing the market share by bottom-up analysis (demand side) 23
2.2.2 TOP-DOWN APPROACH 24
2.2.2.1 Approach for capturing the market share by top-down analysis (supply side) 24
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 26
2.4 RESEARCH ASSUMPTIONS 27

3 EXECUTIVE SUMMARY 28
4 PREMIUM INSIGHTS 33

4.1 LUCRATIVE OPPORTUNITIES IN THE NDT MARKET 33
4.2 NDT MARKET –GROWTH PATTERN OF NDT SERVICES 33
4.3 NDT MARKET IN APAC 34
4.4 MARKET SHARE OF MAJOR COUNTRIES, 2016 34
4.5 NDT MARKET, BY TECHNIQUE, 2017 VS. 2023 35
 

5 MARKET OVERVIEW 36

5.1 INTRODUCTION 37
5.2 EVOLUTION OF NON-DESTRUCTIVE TESTING 37
5.3 MARKET DYNAMICS 38
5.3.1 DRIVERS 39
5.3.1.1 Strong government regulations pertaining to safety and product quality 39
5.3.1.2 Continuous advancements in electronics, and automation & robotics 39
5.3.1.3 Growing adoption of IoT solutions 40
5.3.1.4 Need to prolong the lifespan and increase the capability of aging assets 40
5.3.2 RESTRAINTS 40
5.3.2.1 Lack of skilled and qualified personnel for conducting inspections 40
5.3.3 OPPORTUNITIES 41
5.3.3.1 Large-scale infra projects in APAC, Europe, and Latin America 41
5.3.3.2 Growing demand for NDT inspection services for power generation 41
5.3.3.3 Innovative technological advancements creating new application areas for NDT 41
5.3.3.4 Immense demand for NDT inspection services for the aging infrastructure to tackle with corrosion issues 42
5.3.4 CHALLENGES 42
5.3.4.1 Oil glut and fall in crude oil prices 42
5.3.4.2 Reluctance to adopt new NDT techniques 43
5.3.4.3 Increasing complexity of machines and structures 43
5.3.4.4 High cost of automated NDT equipment 43
5.4 APPLICATIONS OF NDT 44
5.4.1 DIMENSIONAL MEASUREMENT 44
5.4.2 FLAW DETECTION 45
5.4.3 LEAK DETECTION 46
5.4.4 ESTIMATION OF PHYSICAL PROPERTIES 47
5.4.5 CHEMICAL COMPOSITION DETERMINATION 47
5.4.5.1 Plasma emission spectrography 47
5.4.5.2 Corrosion resistance testing 47
5.4.6 STRESS AND STRUCTURE ANALYSIS 48
5.4.7 OTHERS 48

6 INDUSTRY TRENDS 49

6.1 INTRODUCTION 49
6.2 VALUE CHAIN ANALYSIS 49
6.3 EMERGING TRENDS: NON-DESTRUCTIVE TESTING EQUIPMENT INDUSTRY 50
6.3.1 USING COMBINATION OF TECHNIQUES 50
6.3.2 DEVELOPMENT OF NEW MATERIALS TO REFURBISH THE MARKET 50
6.3.3 INCREASED CUSTOMER EXPECTATIONS 50
6.4 REGULATIONS AND STANDARDS RELATED TO NDT 51
6.5 LEADING ASSOCIATIONS FOR NDT 52
6.5.1 AMERICAN SOCIETY FOR NDT 52
6.5.2 BRITISH INSTITUTE OF NON-DESTRUCTIVE TESTING 53
6.5.3 ASTM INTERNATIONAL 55

7 NON-DESTRUCTIVE TESTING MARKET, BY TECHNIQUE 57

7.1 INTRODUCTION 58
7.2 ULTRASONIC TESTING (UT) 61
7.2.1 STRAIGHT BEAM 61
7.2.2 ANGLE BEAM 62
7.2.3 IMMERSION TESTING 62
7.2.4 GUIDED WAVE 62
7.2.5 PHASED ARRAY 62
7.2.6 TIME-OF-FLIGHT DIFFRACTION (TOFD) 62
7.3 VISUAL TESTING 64
7.3.1 GENERAL INSPECTION 64
7.3.2 AIDED VISUAL INSPECTION 65
7.3.2.1 Borescope 65
7.3.2.2 Endoscope 65
7.3.2.3 Videoscope 65
7.4 MAGNETIC PARTICLE TESTING (MPT) 67
7.5 LIQUID PENETRANT TESTING (LPT) 69
7.6 EDDY CURRENT TESTING (ECT) 71
7.6.1 ALTERNATING CURRENT FIELD MEASUREMENT (ACFM) 72
7.6.2 REMOTE FIELD TESTING (RFT) 72
7.6.3 EDDY CURRENT ARRAY (ECA) 72
7.7 RADIOGRAPHIC TESTING (RT) 74
7.7.1 X-RAY TESTING 74
7.7.2 GAMMA-RAY TESTING 74
7.7.3 COMPUTED RADIOGRAPHY 74
7.7.4 FILM RADIOGRAPHY 74
7.7.5 DIRECT RADIOGRAPHY (REAL-TIME) 75
7.8 ACOUSTIC EMISSION TESTING (AET) 76
7.9 OTHER TECHNIQUES 77
7.9.1 TERAHERTZ IMAGING 77
7.9.2 NEAR-INFRARED SPECTROSCOPY 77

8 NON-DESTRUCTIVE TESTING MARKET, BY METHOD 80

8.1 INTRODUCTION 81
8.2 VISUAL INSPECTION 82
8.3 SURFACE INSPECTION 83
8.4 VOLUMETRIC INSPECTION 84
8.5 OTHER METHODS 85

9 NON-DESTRUCTIVE TESTING MARKET, BY SERVICE 86

9.1 INTRODUCTION 87
9.2 INSPECTION SERVICES 88
9.2.1 ULTRASONIC INSPECTION 88
9.2.2 RADIOGRAPHIC INSPECTION 88
9.2.3 VISUAL INSPECTION 89
9.2.4 MAGNETIC PARTICLE INSPECTION 89
9.2.5 ADVANCED EDDY CURRENT INSPECTION 89
9.2.6 LIQUID PENETRANT INSPECTION 90
9.3 EQUIPMENT RENTAL SERVICES 91
9.4 CALIBRATION SERVICES 93
9.5 TRAINING SERVICES 94

10 NON-DESTRUCTIVE TESTING MARKET, BY VERTICAL 96

10.1 INTRODUCTION 97
10.2 MANUFACTURING 99
10.3 OIL & GAS 100
10.3.1 REFINING 101
10.3.2 TRANSMISSION PIPELINE 101
10.3.3 SUBSEA PIPELINES 101
10.3.4 STORAGE TANKS 102
10.4 AEROSPACE & DEFENSE 103
10.4.1 AIRCRAFT ENGINE PART PRODUCTION TO BE THE KEY APPLICATION AREA OF NDT EQUIPMENT TESTING 104
10.4.2 COMPOSITE AIRFRAME MANUFACTURING TO BE THE NEXT CULT NDT EQUIPMENT APPLICATION 105
10.4.3 AIRCRAFT MAINTENANCE 105
10.4.4 MATERIAL ANALYSIS 105
10.5 PUBLIC INFRASTRUCTURE 107
10.5.1 MILITARY & DEFENSE 107
10.5.2 AIRPORT SECURITY 107
10.5.3 RAILWAYS IN APAC TO HAVE A HIGH DEMAND FOR NDT 107
10.5.4 BRIDGES AND TUNNELS 108
10.5.5 BORDER CROSSING 108
10.5.6 NUCLEAR WASTE STORAGE AND DECOMMISSIONING 108
10.6 AUTOMOTIVE 110
10.7 POWER GENERATION 112
10.7.1 NUCLEAR POWER TO BE THE LARGEST DRIVER FOR THE GROWTH OF NDT IN THE POWER GENERATION VERTICAL 113
10.7.2 WIND TURBINES 113
10.7.3 SOLAR POWER 113
10.7.4 FOSSIL FUEL ENERGY 114
10.8 OTHER VERTICALS 115
10.8.1 MARINE 115
10.8.2 MEDICAL AND HEALTH 115
10.8.3 PLASTICS & POLYMERS 115

11 GEOGRAPHIC ANALYSIS 117

11.1 INTRODUCTION 118
11.2 NORTH AMERICA 120
11.2.1 US 124
11.2.2 CANADA 124
11.2.3 MEXICO 125
11.3 EUROPE 125
11.3.1 UK 128
11.3.2 GERMANY 128
11.3.3 FRANCE 129
11.3.4 ITALY 129
11.3.5 REST OF EUROPE 129
11.4 ASIA PACIFIC 130
11.4.1 CHINA 133
11.4.2 JAPAN 134
11.4.3 INDIA 134
11.4.4 REST OF APAC 135
11.5 REST OF THE WORLD 135
11.5.1 SOUTH AMERICA 137
11.5.2 MIDDLE EAST 138
11.5.3 AFRICA 138

12 COMPETITIVE LANDSCAPE 139

12.1 INTRODUCTION 139
12.2 RANKING ANALYSIS OF TOP 5 PLAYERS IN THE NDT MARKET, 2016 140
12.3 COMPETITIVE LEADERSHIP MAPPING 141
12.3.1 VISIONARY LEADERS 141
12.3.2 DYNAMIC DIFFERENTIATORS 141
12.3.3 INNOVATORS 141
12.3.4 EMERGING COMPANIES 142
12.4 BUSINESS STRATEGY EXCELLENCE (25 COMPANIES) 143
12.5 STRENGTH OF PRODUCT PORTFOLIO (25 COMPANIES) 144
12.6 COMPETITIVE SCENARIOS AND TRENDS 145

13 COMPANY PROFILES 146

(Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships, and MnM View)*
13.1 INTRODUCTION 146
13.2 GENERAL ELECTRIC 147
13.3 MISTRAS GROUP INC. 151
13.4 OLYMPUS CORPORATION 156
13.5 ASHTEAD TECHNOLOGY INC. 160
13.6 NIKON METROLOGY INC. 165
13.7 MAGNAFLUX CORPORATION 168
13.8 ZETEC INC. 171
13.9 EDDYFI NDT INC. 174
13.10 YXLON INTERNATIONAL GMBH 178
13.11 FISCHER TECHNOLOGY INC. 181
13.12 SONATEST LTD. 183
13.13 NDT GLOBAL GMBH & CO. KG 186
13.14 TD WILLIAMSON, INC. 189
13.15 BOSELLO HIGH TECHNOLOGY SRL 192
13.16 KEY INNOVATOR 194
13.16.1 LABQUIP NDT LIMITED 194
13.16.2 IPROMAR PTE LTD 194
13.16.3 FPRIMEC SOLUTIONS 194
*Details on Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships, and MnM View might not be captured in case of unlisted companies.
14 APPENDIX 195

LIST OF TABLES

TABLE 1 DIMENSIONAL MEASUREMENT TECHNIQUES 45
TABLE 2 DIMENSIONAL MEASUREMENT EVALUATION 45
TABLE 3 ULTRASONIC TRANSDUCERS FOR FLAW DETECTION 46
TABLE 4 LEAK TESTING TECHNIQUES 46
TABLE 5 NDT TECHNIQUES FOR DETECTING STRUCTURAL DAMAGES 48
TABLE 6 OTHER NDT APPLICATIONS 48
TABLE 7 NON-DESTRUCTIVE TESTING MARKET, BY TECHNIQUE AND SERVICE,
2014–2023 (USD BILLION) 59
TABLE 8 NON-DESTRUCTIVE TESTING MARKET, BY TECHNIQUE, 2014–2023 (USD MILLION) 60
TABLE 9 NON-DESTRUCTIVE TESTING MARKET FOR UT, BY VERTICAL,
2014–2023 (USD MILLION) 63
TABLE 10 NON-DESTRUCTIVE TESTING MARKET FOR UT, BY REGION,
2014–2023 (USD MILLION) 64
TABLE 11 NON-DESTRUCTIVE TESTING MARKET FOR VT, BY VERTICAL,
2014–2023 (USD MILLION) 65
TABLE 12 NON-DESTRUCTIVE TESTING MARKET FOR VT, BY REGION,
2014–2023 (USD MILLION) 66
TABLE 13 NON-DESTRUCTIVE TESTING MARKET FOR MPT, BY VERTICAL,
2014–2023 (USD MILLION) 68
TABLE 14 NON-DESTRUCTIVE TESTING MARKET FOR MPT, BY REGION,
2014–2023 (USD MILLION) 69
TABLE 15 COMPARISON OF LIQUID-PENETRANT SYSTEMS 70
TABLE 16 NON-DESTRUCTIVE TESTING MARKET FOR LPT, BY VERTICAL,
2014–2023 (USD MILLION) 70
TABLE 17 NON-DESTRUCTIVE TESTING MARKET FOR LPT, BY REGION,
2014–2023 (USD MILLION) 71
TABLE 18 NON-DESTRUCTIVE TESTING MARKET FOR ECT, BY VERTICAL,
2014–2023 (USD MILLION) 72
TABLE 19 NON-DESTRUCTIVE TESTING MARKET FOR ECT, BY REGION,
2014–2023 (USD MILLION) 73
TABLE 20 NON-DESTRUCTIVE TESTING MARKET FOR RT, BY VERTICAL,
2014–2023 (USD MILLION) 75
TABLE 21 NON-DESTRUCTIVE TESTING MARKET FOR RT, BY REGION,
2014–2023 (USD MILLION) 75
TABLE 22 NON-DESTRUCTIVE TESTING MARKET FOR AET, BY VERTICAL,
2014–2023 (USD MILLION) 76
TABLE 23 NON-DESTRUCTIVE TESTING MARKET FOR AET, BY REGION,
2014–2023 (USD MILLION) 77
TABLE 24 APPLICATION OF TERAHERTZ IMAGING, BY INDUSTRY 77
TABLE 25 APPLICATIONS OF NEAR-INFRARED SPECTROSCOPY, BY INDUSTRY 78
TABLE 26 NON-DESTRUCTIVE TESTING MARKET FOR OTHER TECHNIQUES, BY VERTICAL, 2014–2023 (USD MILLION) 78
TABLE 27 NON-DESTRUCTIVE TESTING MARKET FOR OTHER TECHNIQUES, BY REGION, 2014–2023 (USD MILLION) 79
TABLE 28 NON-DESTRUCTIVE TESTING MARKET, BY METHOD, 2014–2023 (USD MILLION) 82
TABLE 29 NON-DESTRUCTIVE TESTING MARKET FOR VISUAL INSPECTION, BY REGION, 2014–2023 (USD MILLION) 83
TABLE 30 NON-DESTRUCTIVE TESTING MARKET FOR SURFACE INSPECTION, BY REGION, 2014–2023 (USD MILLION) 83
TABLE 31 NON-DESTRUCTIVE TESTING MARKET FOR VOLUMETRIC INSPECTION, BY REGION, 2014–2023 (USD MILLION) 84
TABLE 32 NON-DESTRUCTIVE TESTING MARKET FOR OTHER METHODS, BY REGION,
2014–2023 (USD MILLION) 85
TABLE 33 NON-DESTRUCTIVE TESTING MARKET, BY SERVICE, 2014–2023 (USD MILLION) 87
TABLE 34 NON-DESTRUCTIVE TESTING MARKET FOR INSPECTION SERVICES, BY VERTICAL, 2017–2023 (USD MILLION) 90
TABLE 35 NON-DESTRUCTIVE TESTING MARKET FOR INSPECTION SERVICES, BY REGION, 2014–2023 (USD MILLION) 91
TABLE 36 NON-DESTRUCTIVE TESTING MARKET FOR EQUIPMENT RENTAL SERVICES,
BY VERTICAL, 2014–2023 (USD MILLION) 92
TABLE 37 NON-DESTRUCTIVE TESTING MARKET FOR EQUIPMENT RENTAL SERVICES,
BY REGION, 2014–2023 (USD MILLION) 92
TABLE 38 NON-DESTRUCTIVE TESTING MARKET FOR CALIBRATION SERVICES, BY VERTICAL, 2014–2023 (USD MILLION) 93
TABLE 39 NON-DESTRUCTIVE TESTING MARKET FOR CALIBRATION SERVICES, BY REGION, 2014–2023 (USD MILLION) 94
TABLE 40 NON-DESTRUCTIVE TESTING MARKET FOR TRAINING SERVICES, BY VERTICAL, 2014–2023 (USD MILLION) 95
TABLE 41 NON-DESTRUCTIVE TESTING MARKET FOR TRAINING SERVICES, BY REGION, 2014–2023 (USD MILLION) 95
TABLE 42 INDUSTRIES WITH TESTING REQUIREMENTS 97
TABLE 43 NON-DESTRUCTIVE TESTING MARKET, BY VERTICAL, 2014–2023 (USD MILLION) 98
TABLE 44 NON-DESTRUCTIVE TESTING MARKET FOR MANUFACTURING VERTICAL,
BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 99
TABLE 45 NON-DESTRUCTIVE TESTING MARKET FOR MANUFACTURING VERTICAL,
BY REGION, 2014–2023 (USD MILLION) 100
TABLE 46 NON-DESTRUCTIVE TESTING MARKET FOR OIL & GAS VERTICAL, BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 102
TABLE 47 NON-DESTRUCTIVE TESTING MARKET FOR OIL & GAS VERTICAL, BY REGION, 2014–2023 (USD MILLION) 103
TABLE 48 NDT TECHNIQUES IN AEROSPACE 104
TABLE 49 ESSENTIAL NDT TECHNIQUES FOR AIRCRAFT MAINTENANCE 105
TABLE 50 NON-DESTRUCTIVE TESTING MARKET FOR AEROSPACE VERTICAL, BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 106
TABLE 51 NON-DESTRUCTIVE TESTING MARKET FOR AEROSPACE VERTICAL, BY REGION, 2014–2023 (USD MILLION) 106
TABLE 52 NON-DESTRUCTIVE TESTING MARKET FOR PUBLIC INFRASTRUCTURE VERTICAL,
BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 108
TABLE 53 NON-DESTRUCTIVE TESTING MARKET FOR PUBLIC INFRASTRUCTURE VERTICAL,
BY REGION, 2014–2023 (USD MILLION) 109
TABLE 54 NDT TECHNOLOGIES IN THE AUTOMOTIVE VERTICAL 110
TABLE 55 NON-DESTRUCTIVE TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 111
TABLE 56 NON-DESTRUCTIVE TESTING MARKET FOR AUTOMOTIVE VERTICAL, BY REGION, 2014–2023 (USD MILLION) 111
TABLE 57 APPLICATIONS OF NDT TECHNIQUES IN NUCLEAR POWER PLANTS 113
TABLE 58 NON-DESTRUCTIVE TESTING MARKET FOR POWER GENERATION VERTICAL,
BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 114
TABLE 59 NON-DESTRUCTIVE TESTING MARKET FOR POWER GENERATION VERTICAL,
BY REGION, 2014–2023 (USD MILLION) 114
TABLE 60 NON-DESTRUCTIVE TESTING MARKET FOR OTHER VERTICALS, BY TECHNIQUE AND SERVICE, 2014–2023 (USD MILLION) 116
TABLE 61 NON-DESTRUCTIVE TESTING MARKET FOR OTHER VERTICALS, BY REGION,
2014–2023 (USD MILLION) 116
TABLE 62 NON-DESTRUCTIVE TESTING MARKET, BY REGION, 2014–2023 (USD MILLION) 119
TABLE 63 NON-DESTRUCTIVE TESTING MARKET IN NORTH AMERICA, BY TECHNIQUE,
2014–2023 (USD MILLION) 122
TABLE 64 NON-DESTRUCTIVE TESTING MARKET IN NORTH AMERICA, BY SERVICE,
2014–2023 (USD MILLION) 122
TABLE 65 NON-DESTRUCTIVE TESTING MARKET IN NORTH AMERICA, BY VERTICAL,
2014–2023 (USD MILLION) 123
TABLE 66 NON-DESTRUCTIVE TESTING MARKET IN NORTH AMERICA, BY COUNTRY,
2014–2023 (USD MILLION) 123
TABLE 67 NON-DESTRUCTIVE TESTING MARKET IN EUROPE, BY TECHNIQUE,
2014–2023 (USD MILLION) 126
TABLE 68 NON-DESTRUCTIVE TESTING MARKET IN EUROPE, BY SERVICE,
2014–2023 (USD MILLION) 126
TABLE 69 NON-DESTRUCTIVE TESTING MARKET IN EUROPE, BY VERTICAL,
2014–2023 (USD MILLION) 127
TABLE 70 NON-DESTRUCTIVE TESTING MARKET IN EUROPE, BY COUNTRY,
2014–2023 (USD MILLION) 128
TABLE 71 NON-DESTRUCTIVE TESTING MARKET IN APAC, BY TECHNIQUE,
2014–2023 (USD MILLION) 132
TABLE 72 NON-DESTRUCTIVE TESTING MARKET IN APAC, BY SERVICE,
2014–2023 (USD MILLION) 132
TABLE 73 NON-DESTRUCTIVE TESTING MARKET IN APAC, BY VERTICAL,
2014–2023 (USD MILLION) 133
TABLE 74 NON-DESTRUCTIVE TESTING MARKET IN APAC, BY COUNTRY,
2014–2023 (USD MILLION) 133
TABLE 75 NON-DESTRUCTIVE TESTING MARKET IN ROW, BY TECHNIQUE,
2014–2023 (USD MILLION) 135
TABLE 76 NON-DESTRUCTIVE TESTING MARKET IN ROW, BY SERVICE,
2014–2023 (USD MILLION) 136
TABLE 77 NON-DESTRUCTIVE TESTING MARKET IN ROW, BY VERTICAL,
2014–2023 (USD MILLION) 136
TABLE 78 NON-DESTRUCTIVE TESTING MARKET IN ROW, BY REGION,
2014–2023 (USD MILLION) 137
TABLE 79 RANKING ANALYSIS OF PLAYERS IN THE NDT MARKET IN 2016 140

LIST OF FIGURES

FIGURE 1 NON-DESTRUCTIVE TESTING MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 19
FIGURE 2 RESEARCH DESIGN: NON-DESTRUCTIVE TESTING MARKET 20
FIGURE 3 MARKET SIZE ESTIMATION METH0DOLOGY: BOTTOM-UP APPROACH 24
FIGURE 4 MARKET SIZE ESTIMATION METH0DOLOGY: TOP-DOWN APPROACH 25
FIGURE 5 DATA TRIANGULATION 26
FIGURE 6 ASSUMPTIONS OF THE RESEARCH STUDY 27
FIGURE 7 ULTRASONIC TESTING TECHNIQUE TO HOLD THE LARGEST MARKET SIZE BY 2023 29
FIGURE 8 NDT MARKET FOR MANUFACTURING VERTICAL TO EXHIBIT HIGHEST CAGR DURING 2017–2023 30
FIGURE 9 INSPECTION SERVICES TO ACCOUNT FOR OF THE LARGEST SIZE OF THE NDT MARKET FOR SERVICES DURING THE FORECAST PERIOD 31
FIGURE 10 NORTH AMERICA ACCOUNTED FOR THE LARGEST SHARE OF THE OVERALL NDT MARKET IN 2016 31
FIGURE 11 SIGNIFICANT GROWTH OPPORTUNITIES FOR NDT MARKET BETWEEN
2017 AND 2023 33
FIGURE 12 INSPECTION SERVICES TO ACCOUNT FOR THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD 33
FIGURE 13 CHINA HELD THE LARGEST MARKET SHARE IN APAC IN 2016 34
FIGURE 14 US ACCOUNTED FOR THE LARGEST MARKET SHARE 34
FIGURE 15 ULTRASONIC TESTING TO BE THE MOST PREFERRED NDT TECHNIQUE BETWEEN 2017 AND 2023 35
FIGURE 16 NON-DESTRUCTIVE TESTING METHODS: EVOLUTION 37
FIGURE 17 INCREASING DEMAND FOR CORROSION INSPECTION DRIVES THE NON-DESTRUCTIVE TESTING MARKET DURING 2017–2023 38
FIGURE 18 MAJOR APPLICATIONS OF NDT 44
FIGURE 19 VALUE CHAIN ANALYSIS: NDT MARKET 49
FIGURE 20 NDT SERVICES EXPECTED TO HOLD A MAJOR SHARE OF THE NDT MARKET DURING THE FORECAST PERIOD 58
FIGURE 21 NDT MARKET EXPECTED TO BE LED BY UT TECHNIQUE DURING THE FORECAST PERIOD 59
FIGURE 22 OIL & GAS VERTICAL TO HOLD THE LARGEST MARKET SIZE FOR UT TECHNIQUE
BY 2023 63
FIGURE 23 NORTH AMERICA TO HOLD THE LARGEST SIZE OF THE NDT MARKET FOR VT DURING THE FORECAST PERIOD 66
FIGURE 24 OIL AND GAS VERTICAL EXPECTED TO BE HOLD THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD 68
FIGURE 25 NORTH AMERICA TO HOLD THE LARGEST SIZE OF THE NDT MARKET FOR LPT DURING THE FORECAST PERIOD 71
FIGURE 26 NORTH AMERICA EXPECTED TO HOLD THE LARGEST SIZE OF THE NDT MARKET FOR ECT DURING 2017–2023 73
FIGURE 27 VOLUMETRIC INSPECTION METHOD EXPECTED TO DOMINATE THE NDT MARKET BETWEEN 2017 AND 2023 81
FIGURE 28 INSPECTION SERVICES EXPECTED TO ACCOUNT FOR LARGEST SHARE OF THE NDT SERVICES MARKET BY 2023 87
FIGURE 29 POWER GENERATION VERTICAL EXPECTED TO HOLD THE LARGEST SIZE OF THE NDT MARKET BY 2023 98
FIGURE 30 NORTH AMERICA TO HOLD THE LARGEST SIZE OF THE NDT MARKET FOR POWER GENERATION VERTICAL BY 2023 112
FIGURE 31 INDIA TO BE THE FASTEST-GROWING REGION IN THE NON-DESTRUCTIVE TESTING DURING 2017–2023 118
FIGURE 32 ATTRACTIVE OPPORTUNITIES IN THE MANUFACTURING VERTICAL DURING THE FORECAST PERIOD 119
FIGURE 33 GEOGRAPHIC SNAPSHOT IN NORTH AMERICA, 2016 121
FIGURE 34 GERMANY ACCOUNTED FOR LARGEST SHARE IN EUROPE IN 2016 127
FIGURE 35 GEOGRAPHIC SNAPSHOT IN APAC, 2016 131
FIGURE 36 GEOGRAPHIC SNAPSHOT IN ROW, 2016 137
FIGURE 37 LEADING COMPANIES IN THE NON-DESTRUCTIVE TESTING AND INSPECTION MARKET MAJORLY ADOPTED ORGANIC STRATEGIES OF PRODUCT LAUNCHES AND EXPANSIONS BETWEEN 2014 AND 2017 139
FIGURE 38 COMPETITIVE LEADERSHIP MAPPING 142
FIGURE 39 BUSINESS STRATEGY EXCELLENCE 143
FIGURE 40 STRENGTH OF PRODUCT PORTFOLIO 144
FIGURE 41 BATTLE FOR MARKET SHARE: PRODUCT LAUNCHES WAS THE KEY STRATEGY DURING 2014–2017 145
FIGURE 42 GEOGRAPHIC REVENUE MIX OF TOP PLAYERS 146
FIGURE 43 GENERAL ELECTRIC: COMPANY SNAPSHOT 147
FIGURE 44 MISTRAS GROUP INC.: COMPANY SNAPSHOT 151
FIGURE 45 OLYMPUS CORPORATION: COMPANY SNAPSHOT 156

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