Global Ultrasonic Testing Market : Industry Analysis and Forecast (2020-2026)

 The Global Ultrasonic Testing Market size is expected to reach US$ 4.3Bn. by 2026 from US$ XXBn. in 2019, at a CAGR of XX % during the forecast period.

The global Ultrasonic Testing market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Ultrasonic Testing report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of Ultrasonic Testing:

Ultrasonic testing is a nondestructive testing (NDT) technique used to detect test piece discontinuities that are not visible to the naked eye. Cracks, corrosion, inclusions, porosity outside of specified tolerances, and voids are examples of defects. Ultrasonic testing equipment sends ultrasonic sound waves into the test piece and measures the waves that return to the device.
Global Ultrasonic Testing Market Dynamics:

Ultrasonic testing is widely used for inspecting weld quality in the offshore oil industry, detecting flaws in any material, and ensuring the quality of defense products in the aerospace and defense industries. This has also been used in the marine and offshore industries. Another industry that makes use of ultrasonic testing is transportation. Rising disposable income and rising automobile consumption also boost this market's growth prospects during the forecast period.

One of the major restraints on the ultrasonic testing market is the inability of manual ultrasonic thickness testing to detect early stages of damage. The time-of-flight (ToF) technique is used by manual ultrasonic thickness gauges to measure the thickness of the entity of interest.

BhilaiSteel Plant (BSP) in India increased its production capacity in March 2020 to meet the Indian Railways' demand for high-speed trains, metro trains, track doubling, and gauge conversion, as well as track renewals and new line laying. In the fiscal year 2019-2020, the plant manufactured 11.65 lakh metric tons of rails. For inspection and testing of the manufactured rails, the plant is fitted with online NDT (non-destructive testing) equipment, ultrasonic, and eddy-current testing, among other technologies.
Global Ultrasonic Testing Market Segmentation:

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In 2021, ultrasonic testing and inspection services are expected to hold the largest share of the market. The primary goal of ultrasonic testing is to inspect objects, components, equipment, and systems for defects so that they can be repaired quickly and cheaply. Following inspection services, training services are expected to capture the second-largest market share in the coming years, as training NDT technicians to keep them up to date on new technological developments and aware of changing customer demands is equally important.
Global Ultrasonic Testing Market Regional Insights:

During the forecast period, the ultrasonic testing market in APAC is expected to expand at the fastest pace. Due to rapid infrastructure growth and automation adoption in manufacturing industries in countries such as India and China, Asia Pacific is expected to be the fastest-growing area in the ultrasonic testing industry. Defense aircraft are being manufactured in Asia Pacific countries, which are expected to boost demand for ultrasonic testing equipment and services in the defense and aerospace industries. Several infrastructure development projects are currently being built or will be built in the area during the forecast period. By 2026, the market for cars is expected to grow. Besides, the nondestructive testing equipment market faces several challenges, including a lack of customer knowledge and increased competition from new market players.

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The objective of the report is to present a comprehensive analysis of the Global Ultrasonic Testing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Ultrasonic Testing Market dynamics, structure by analyzing the market segments and project the global Ultrasonic Testing market size. Clear representation of competitive analysis of key players By Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Ultrasonic Testing Market make the report investor’s guide.
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Global Ultrasonic Testing Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Ultrasonic Testing Market Key Players

• Baker Hughes
• Olympus Corporation
• MISTRAS Group
• Intertek
• Sonatest
• Zetec, Inc.
• T.D. Williamson Inc.
• Bosello High Technology Srl.
• Eddyfi
• Magnaflux
• Fischer Technology Inc.
• Cygnus Instruments Ltd.
• NDT Global GmbH
• Acuren
• LynX Inspection
• Other Key Players