Global Ultrasonic Testing Market - Advancements in Technology and Growing Demand for Predictive Maintenance

Posted by Tom C on April 12th, 2023

Ultrasonic testing is a non-destructive testing technique that uses high-frequency sound waves to detect internal flaws and discontinuities in materials and structures. The technique is widely used in various industries such as aerospace, automotive, oil and gas, and manufacturing, among others, to ensure the safety and reliability of critical components.

The global ultrasonic testing market is projected to grow to USD 4.2 billion by 2026, at a CAGR of 7.1% during the forecast period. The growth of the market can be attributed to the increasing demand for ultrasonic testing in various end-use industries, advancements in technology, and the growing need for predictive maintenance.

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The flaw detection segment is expected to hold the largest share of the ultrasonic testing market during the forecast period. This can be attributed to the increasing demand for non-destructive testing methods for identifying internal flaws and defects in materials and structures. Ultrasonic testing is widely used for flaw detection in industries such as oil and gas, aerospace, and manufacturing.

The oil and gas industry is expected to hold the largest share of the ultrasonic testing market by end-use industry during the forecast period. This can be attributed to the growing demand for oil and gas, increasing investments in exploration and production activities, and the need for efficient and reliable testing methods to ensure the safety and integrity of critical components.

North America is expected to hold the largest share of the ultrasonic testing market during the forecast period. This can be attributed to the presence of major players in the region, increasing investments in infrastructure development, and the growing demand for ultrasonic testing in various end-use industries.

Some of the key players operating in the ultrasonic testing market include GE Inspection Technologies (US), Olympus Corporation (Japan), Sonatest Ltd. (UK), Mistras Group (US), Baker Hughes (US), Eddyfi NDT (Canada), Applied Technical Services Inc. (US), Zetec Inc. (US), TÜV Rheinland (Germany), and Intertek Group plc (UK), among others.