Global Ultrasonic Testing Market is valued approximately USD 3.07 million in 2019 and is anticipated to grow with a healthy growth rate of more than 8.5 % over the forecast period 2020-2027. Ultrasonic testing is a kind of non-destructive testing n which ultrasonic pulse waves are transmitted into the subject to identify any kind of internal defect in the subject. This procedure can also be used to measure the thickness of the subject and is majorly used in steel and other alloys but is also applicable in wood and composite materials. The demand for reliable non- destructive testing technique for materials specially fiberglass and carbon fiber composites drives the market the growth. Further the application of this technique in numerous industries using metal and fabrication such as inspecting the quality of the weld drives the market growth. Also, the use of this testing in Aerospace and defense industries to check the quality of the defense products augments the market growth. Thus, the growing procurement of defense products supports the market growth. As per the Stockholm International Peace research institute (SPIRI), The Defense spending of United States increased by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. While in June 2018, the French government made an additional order for 420 units of Light VBMR reconnaissance vehicles bringing the total to 978 units Also, rising disposable income and growing consumption of automobiles increases the utilization of Ultrasonic testing. Thus, the growing share of manufacturing activities across the globe results in increasing adoption. However, limitations for testing such as non-water resistant and rough surface materials which cannot be tested impedes the growth of the market over the forecast period of 2020-2027. Although, automation in the end-use industries presents a lucrative opportunity for the market.
The regional analysis of global Ultrasonic Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large base of companies and service providers in the region along with growing penetration of automation. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing manufacturing and evolving industrialization would create lucrative growth prospects for the Ultrasonic Testing market across Asia-Pacific region.
Major market player included in this report are:
GE Measurement & Control Solutions
Olympus Corporation
Ashtead Technology
Mistras Group, Inc.
TechScan Systm Inc
General Motors
Eddyfi UK Ltd
Sonatest Ltd.
Amerapex Corporation
Sonotron NDT
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Time-of- Flight Diffraction
Phased Array
Immersion Testing
Guided-Wave
Spectroscopy
Acoustography
By Equipment:
Flaw Detectors
Tube Inspection
Transducers & Probes
Bond testers
Thickness Gauges
By Vertical:
Manufacturing
Oil & Gas
Aerospace
Government Infrastructure
Automotive
Marine
Power Generation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ultrasonic Testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
The regional analysis of global Ultrasonic Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the large base of companies and service providers in the region along with growing penetration of automation. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing manufacturing and evolving industrialization would create lucrative growth prospects for the Ultrasonic Testing market across Asia-Pacific region.
Major market player included in this report are:
GE Measurement & Control Solutions
Olympus Corporation
Ashtead Technology
Mistras Group, Inc.
TechScan Systm Inc
General Motors
Eddyfi UK Ltd
Sonatest Ltd.
Amerapex Corporation
Sonotron NDT
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Time-of- Flight Diffraction
Phased Array
Immersion Testing
Guided-Wave
Spectroscopy
Acoustography
By Equipment:
Flaw Detectors
Tube Inspection
Transducers & Probes
Bond testers
Thickness Gauges
By Vertical:
Manufacturing
Oil & Gas
Aerospace
Government Infrastructure
Automotive
Marine
Power Generation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ultrasonic Testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Ultrasonic Testing Market, by Region, 2018-2027 (USD Billion)
1.2.2. Ultrasonic Testing Market, by Type, 2018-2027 (USD Billion)
1.2.3. Ultrasonic Testing Market, by Equipment, 2018-2027 (USD Billion)
1.2.4. Ultrasonic Testing Market, by Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ultrasonic Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ultrasonic Testing Market Dynamics
3.1. Ultrasonic Testing Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Ultrasonic Testing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Ultrasonic Testing Market, by Type
5.1. Market Snapshot
5.2. Global Ultrasonic Testing Market by Type, Performance - Potential Analysis
5.3. Global Ultrasonic Testing Market Estimates & Forecasts by Type 2017-2027 (USD Billion)
5.4. Ultrasonic Testing Market, Sub Segment Analysis
5.4.1. Time-of- Flight Diffraction
5.4.2. Phased Array
5.4.3. Immersion Testing
5.4.4. Guided-Wave
5.4.5. Spectroscopy
5.4.6. Acoustography
Chapter 6. Global Ultrasonic Testing Market, by Equipment
6.1. Market Snapshot
6.2. Global Ultrasonic Testing Market by Equipment, Performance - Potential Analysis
6.3. Global Ultrasonic Testing Market Estimates & Forecasts by Equipment 2017-2027 (USD Billion)
6.4. Ultrasonic Testing Market, Sub Segment Analysis
6.4.1. Flaw Detectors
6.4.2. Tube Inspection
6.4.3. Transducers & Probes
6.4.4. Bond testers
6.4.5. Thickness Gauges
Chapter 7. Global Ultrasonic Testing Market, by Vertical
7.1. Market Snapshot
7.2. Global Ultrasonic Testing Market by Vertical, Performance - Potential Analysis
7.3. Global Ultrasonic Testing Market Estimates & Forecasts by Vertical 2017-2027 (USD Billion)
7.4. Ultrasonic Testing Market, Sub Segment Analysis
7.4.1. Manufacturing
7.4.2. Oil & Gas
7.4.3. Aerospace
7.4.4. Government Infrastructure
7.4.5. Automotive
7.4.6. Marine
7.4.7. Power Generation
Chapter 8. Global Ultrasonic Testing Market, Regional Analysis
8.1. Ultrasonic Testing Market, Regional Market Snapshot
8.2. North America Ultrasonic Testing Market
8.2.1. U.S. Ultrasonic Testing Market
8.2.1.1. Type breakdown estimates & forecasts, 2017-2027
8.2.1.2. Equipment breakdown estimates & forecasts, 2017-2027
8.2.1.3. Vertical breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Ultrasonic Testing Market
8.3. Europe Ultrasonic Testing Market Snapshot
8.3.1. U.K. Ultrasonic Testing Market
8.3.2. Germany Ultrasonic Testing Market
8.3.3. France Ultrasonic Testing Market
8.3.4. Spain Ultrasonic Testing Market
8.3.5. Italy Ultrasonic Testing Market
8.3.6. Rest of Europe Ultrasonic Testing Market
8.4. Asia-Pacific Ultrasonic Testing Market Snapshot
8.4.1. China Ultrasonic Testing Market
8.4.2. India Ultrasonic Testing Market
8.4.3. Japan Ultrasonic Testing Market
8.4.4. Australia Ultrasonic Testing Market
8.4.5. South Korea Ultrasonic Testing Market
8.4.6. Rest of Asia Pacific Ultrasonic Testing Market
8.5. Latin America Ultrasonic Testing Market Snapshot
8.5.1. Brazil Ultrasonic Testing Market
8.5.2. Mexico Ultrasonic Testing Market
8.6. Rest of The World Ultrasonic Testing Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. GE Measurement & Control Solutions
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Olympus Corporation
9.2.3. Ashtead Technology
9.2.4. Mistras Group, Inc.
9.2.5. TechScan Systm Inc
9.2.6. General Motors
9.2.7. Eddyfi UK Ltd
9.2.8. Sonatest Ltd.
9.2.9. Amerapex Corporation
9.2.10. Sonotron NDT
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Ultrasonic Testing Market, by Region, 2018-2027 (USD Billion)
1.2.2. Ultrasonic Testing Market, by Type, 2018-2027 (USD Billion)
1.2.3. Ultrasonic Testing Market, by Equipment, 2018-2027 (USD Billion)
1.2.4. Ultrasonic Testing Market, by Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ultrasonic Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ultrasonic Testing Market Dynamics
3.1. Ultrasonic Testing Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Ultrasonic Testing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Ultrasonic Testing Market, by Type
5.1. Market Snapshot
5.2. Global Ultrasonic Testing Market by Type, Performance - Potential Analysis
5.3. Global Ultrasonic Testing Market Estimates & Forecasts by Type 2017-2027 (USD Billion)
5.4. Ultrasonic Testing Market, Sub Segment Analysis
5.4.1. Time-of- Flight Diffraction
5.4.2. Phased Array
5.4.3. Immersion Testing
5.4.4. Guided-Wave
5.4.5. Spectroscopy
5.4.6. Acoustography
Chapter 6. Global Ultrasonic Testing Market, by Equipment
6.1. Market Snapshot
6.2. Global Ultrasonic Testing Market by Equipment, Performance - Potential Analysis
6.3. Global Ultrasonic Testing Market Estimates & Forecasts by Equipment 2017-2027 (USD Billion)
6.4. Ultrasonic Testing Market, Sub Segment Analysis
6.4.1. Flaw Detectors
6.4.2. Tube Inspection
6.4.3. Transducers & Probes
6.4.4. Bond testers
6.4.5. Thickness Gauges
Chapter 7. Global Ultrasonic Testing Market, by Vertical
7.1. Market Snapshot
7.2. Global Ultrasonic Testing Market by Vertical, Performance - Potential Analysis
7.3. Global Ultrasonic Testing Market Estimates & Forecasts by Vertical 2017-2027 (USD Billion)
7.4. Ultrasonic Testing Market, Sub Segment Analysis
7.4.1. Manufacturing
7.4.2. Oil & Gas
7.4.3. Aerospace
7.4.4. Government Infrastructure
7.4.5. Automotive
7.4.6. Marine
7.4.7. Power Generation
Chapter 8. Global Ultrasonic Testing Market, Regional Analysis
8.1. Ultrasonic Testing Market, Regional Market Snapshot
8.2. North America Ultrasonic Testing Market
8.2.1. U.S. Ultrasonic Testing Market
8.2.1.1. Type breakdown estimates & forecasts, 2017-2027
8.2.1.2. Equipment breakdown estimates & forecasts, 2017-2027
8.2.1.3. Vertical breakdown estimates & forecasts, 2017-2027
8.2.2. Canada Ultrasonic Testing Market
8.3. Europe Ultrasonic Testing Market Snapshot
8.3.1. U.K. Ultrasonic Testing Market
8.3.2. Germany Ultrasonic Testing Market
8.3.3. France Ultrasonic Testing Market
8.3.4. Spain Ultrasonic Testing Market
8.3.5. Italy Ultrasonic Testing Market
8.3.6. Rest of Europe Ultrasonic Testing Market
8.4. Asia-Pacific Ultrasonic Testing Market Snapshot
8.4.1. China Ultrasonic Testing Market
8.4.2. India Ultrasonic Testing Market
8.4.3. Japan Ultrasonic Testing Market
8.4.4. Australia Ultrasonic Testing Market
8.4.5. South Korea Ultrasonic Testing Market
8.4.6. Rest of Asia Pacific Ultrasonic Testing Market
8.5. Latin America Ultrasonic Testing Market Snapshot
8.5.1. Brazil Ultrasonic Testing Market
8.5.2. Mexico Ultrasonic Testing Market
8.6. Rest of The World Ultrasonic Testing Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. GE Measurement & Control Solutions
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Olympus Corporation
9.2.3. Ashtead Technology
9.2.4. Mistras Group, Inc.
9.2.5. TechScan Systm Inc
9.2.6. General Motors
9.2.7. Eddyfi UK Ltd
9.2.8. Sonatest Ltd.
9.2.9. Amerapex Corporation
9.2.10. Sonotron NDT
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
