Ultrasonic Testing Market Valuation and Overview – 2024-2030

Posted by Tom C on July 29th, 2024

The Ultrasonic Testing Market is projected to experience significant growth from 2024 to 2030, driven by the escalating demand for non-destructive testing (NDT) techniques across various industries such as oil & gas, aerospace, automotive, and construction. Valued for its accuracy, safety, and efficiency in detecting material flaws and structural integrity issues, ultrasonic testing is increasingly being adopted to ensure compliance with stringent safety and quality standards.

Technological advancements, including the development of phased array ultrasonic testing (PAUT) and automated ultrasonic testing (AUT) systems, are expected to enhance inspection capabilities and drive market expansion. The rising focus on infrastructure maintenance, coupled with the need for extending the lifespan of aging assets, is further propelling market growth.

The global ultrasonic testing market size is projected to reach USD 4.2 billion by 2026, at a compound annual growth rate (CAGR) of 7.1% during the forecast period.

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The ultrasonic technique (UT) is likely to be the largest contributor in the market during the forecast period
The market for the UT (ultrasonic testing) technique is projected to largest contributor in Market. It is presently the most popular NDT technique due to its ability to identify defects and accurately determine their severity. Some advanced techniques such as ultrasonic immersion testing and guided-wave ultrasonic testing can be used for critical applications in the oil & gas and aerospace industries, among many others.

Inspection services to account for the largest market size by 2021
Ultrasonic testing and inspection services are likely to account for the largest share of the market in 2021. Ultrasonic testing techniques' primary purpose is to inspect objects, materials, machinery, and structures for defects so that they can be rectified in a timely and cost-effective manner. After inspection services, training services are likely to continue to gain the second-largest market share in the coming years since training NDT technicians to keep them updated with new technological trends and make them aware of the customers' changing demands is equally essential.

The Ultrasonic testing market in APAC to grow at the highest CAGR during the forecast period
Asia Pacific is likely to be the fastest-growing region in the ultrasonic testing market due to the rapid infrastructural development and automation adoption in manufacturing industries in countries such as India and China. Countries in Asia Pacific are involved in the manufacturing of defense aircraft, which is expected to increase ultrasonic testing equipment and services in the defense & aerospace industry. Many infrastructural development projects are under construction and scheduled to be constructed in the region during the forecast period. The demand for automobiles is estimated to grow substantially by 2026.

The market was dominated by ultrasonic testing companies such as Baker Hughes(US), Olympus Corporation (Japan), MISTRAS Group (US), Intertek (UK), Sonatest (UK), Zetec, Inc. (US), T.D. Williamson Inc. (US), Bosello High Technology srl (Italy), Eddyfi (Canada), and Magnaflux (US), Fischer Technology Inc. (US), Cygnus Instruments Ltd. (UK), NDT Global GmbH (Germany), Acuren (US), and LynX Inspection (Canada).

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Tom C

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Tom C
Joined: July 2nd, 2020
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