Global Non-Destructive Testing and Inspection Market Rising at 7.2% CAGR
CHICAGO, Nov. 07, 2019 (GLOBE NEWSWIRE) -- MarketsandMarkets launched a study titled, Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy-Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2024. According to the study, the global non-destructive testing and inspection market size is estimated to be worth USD 8.3 billion in 2018 and is evaluated to reach USD 12.6 billion by 2024. The existence of stringent regulatory frameworks for public safety & product quality and continuous advancements in automation & robotics are the key factors driving the growth of the global non-destructive testing (NDT) and inspection market during the forecast period.
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The ultrasonic testing (UT) technique accounted for the largest share of the global NDT testing and inspection technique market in 2017. UT has evolved considerably over the last few decades and is the most important NDT method for identifying and quantifying surface and subsurface defects. However, ECT is likely to be one of the fastest-growing NDT techniques from 2018 to 2024. Recent advancements in the eddy-current technology have led to the development of techniques such as alternating current field measurement (ACFM), eddy-current array (ECA), and remote field testing (RFT). These new techniques facilitate more ac....