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Non Destructive Testing (NDT) in Aerospace & Defense Market 2019 – Growth Analysis by Industry Size, Share, Latest Updates, Opportunities, Investment Cost and Forecast to 2024

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The “Non Destructive Testing (NDT) in Aerospace & Defense Market” report 2019 covers all the significant developments which are recently being adopted across the global market. The prime objective of Non Destructive Testing (NDT) in Aerospace & Defense market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. The Non Destructive Testing (NDT) in Aerospace & Defense market report covers both the demand and supply aspect of the market. The report also highlighted the future trends in the Non Destructive Testing (NDT) in Aerospace & Defense market that will impact the demand during the forecast period.

Scope of the Report:

  • Nondestructive testing is a wide group of analysis techniques used in science and technology industry to evaluate the properties of a material, component or system without causing damage.

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    Market Overview:

  • The Non-destructive Testing Market was valued at USD 2340 million in 2018 and is expected to register a CAGR of 10.3% during the forecast period (2019-2024), to reach USD 4250 million by 2024. The major drivers for growth in the NDT market include increasing investments in the aerospace & defense sector, increasing the complexity of machines and structures that need continual evaluation for maintaining structural integrity, and government safety regulations mandating the use of NDT techniques for gaining clearances.
  • The global aerospace and defense (A&D) industry is set to grow in 2018, with total revenues in the aerospace sector estimated to grow at more than 3%. The global A&D industry revenue in the past was largely impacted by decreased revenues in the United States (US) Aerospace & Defense sector.
  • Over the last few years, there has been an incremental rise in the demand for skilled NDT technicians across the world. However, the demand currently outweighs supply, due to a plethora of reasons.
  • There are several opportunities for growth, such as large-scale aerospace projects in the Asia-Pacific and European regions and the increasing need for advanced and automated NDT solutions, which are expected to contribute to the growth of the market studied in the future.

    Some of the Top Key Players of Non Destructive Testing (NDT) in Aerospace & Defense Market Report Are:

  • Mistras Group
  • Fujifilm NDT Systems
  • GE Measurement and Control
  • NikonMetrology Inc.
  • Magnaflux Corporation
  • Olympus Corporation
  • SGS Group
  • Intertek Group PLC
  • Applus Services, S.A.
  • Yxlon International GmbH
  • Team, Inc.
  • Tüv Rheinland Ag
  • Gould
  • Bass Co.
  • FLIR Systems, Inc.

    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

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    Key Market Trends:

    Radiography Testing Technology to Account for the Largest Share

    Radiography is one of the versatile testing methods in nondestructive testing, which is used for the detection of surface and subsurface features in welded parts and castings. Radiography employs highly penetrating X-rays produced by X-ray tube, gamma rays by a radioactive isotope, and other forms of radiation for testing without causing any damage to the product.
    It enables product reliability, providing the information to prevent accidents and saves lives in industries. It is also used for corrosion mapping, detection of blockages inside sealed equipment, testing of semiconductor devices for cracks, broken wires, unsoldered connections, detection of reinforcing the material in concrete slabs and measuring bulk density of materials.
    The use of computed radiography in the aerospace & defense industry provides significant cost savings when compared to other testing methods as it eliminates the external costs. As economic justification is a major criterion for any testing method, the radiography testing range in size from microminiature electronic parts to massive missile components used in the aerospace & defense industry.

    Europe to Account for Significant Share

    The European aerospace and defense industry is mainly dominated by the United Kingdom, France, Germany, and Italy, while Russia is also a large player in the international market landscape.
    In 2016, the UK aerospace production output is observed to be grown by 39% since 2011, with annual turnover reaching nearly USD 43 billion.
    Exports generate nearly 90% of aerospace turnover. The sector achieved exports of nearly USD 37.41 billion in 2016 and looked for success in overseas markets to drive further growth, and there are few uncertainties are expected with the exit from the European Union.
    The United Kingdom is investing money in new Joint Force 2025, comprising of a Land Force of 112,000 equipped with digital armored vehicles, an Air Group upgraded with more Typhoons and fifth generation F35s; and a Maritime Task Group made up of destroyers, frigates, and two mighty carriers – claimed to be the most powerful ships ever built in Britain.
    France and its manufacturers are driving a significant number of hi-tech projects, including the forthcoming nEUROn European military drone, Airbus’s E-Fan ?? the first all-electric aircraft designed for initial pilot training, and the LEAP engine made from composite materials manufactured by Safran Aircraft Engines and GE, which have already received large numbers of orders.
    German companies were involved in the production of all of those aircraft. Around 300 aircraft were finished in Germany – this is equivalent to 17% of the total number of international aircraft production.
    The activities of Russian civil aviation at the present stage are conditioned by factors such as unstable post-crisis stabilization of the country’s economy, continuing uncertainty in the development of international transport markets, both on regular and charter (primarily resort) routes.
    Also, with the defense industry being highly uncertain of the coming years, the overall consumption of NDT in the country is expected to slow down over the coming years.

    The Report Covers:

    • Comprehensive research methodology of Non Destructive Testing (NDT) in Aerospace & Defense market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the global sleep aid market
    • Insights about market determinants which are stimulating the global Non Destructive Testing (NDT) in Aerospace & Defense market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Non Destructive Testing (NDT) in Aerospace & Defense Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Investments in Aerospace & Defense
    4.3.2 Increasing Complexity of Machine and Infrastructure
    4.4 Market Restraints
    4.4.1 Lack Of Technical Workforce
    4.4.2 Relative Lack of Awareness
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porters Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Service
    5.1.2 Equipment
    5.2 By Technology
    5.2.1 Radiography Testing
    5.2.2 Ultrasonic Testing
    5.2.3 Magnetic Particle Testing and Electromagnetic Testing
    5.2.4 Liquid Penetrant Testing
    5.2.5 Visual Inspection
    5.2.6 Eddy Current
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia Pacific
    5.3.4 Latin America
    5.3.5 Middle East and Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Mistras Group
    6.1.2 Fujifilm NDT Systems
    6.1.3 GE Measurement and Control
    6.1.4 NikonMetrology Inc.
    6.1.5 Magnaflux Corporation
    6.1.6 Olympus Corporation
    6.1.7 SGS Group
    6.1.8 Intertek Group PLC
    6.1.9 Applus Services, S.A.
    6.1.10 Yxlon International GmbH
    6.1.11 Team, Inc.
    6.1.12 Tüv Rheinland Ag
    6.1.13 Gould-Bass Co.
    6.1.14 FLIR Systems, Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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