Global Non-Destructive Testing in Aerospace and Defense Market - Segmented by component and Region - Growth, Trends and Forecasts (2018 - 2023)

This Report Provides an overview of "Non-Destructive Testing in Aerospace and Defense Market" 2018 in the global region. Also, elaborate Company Competition, Market demand, Regional Forecast, Marketing & Price and also New investment feasibility analysis is included in the report.

Non-Destructive Testing in Aerospace and Defense Market Report provides key statistics on the market status of the Non-Destructive Testing in Aerospace and Defense Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Non-Destructive Testing in Aerospace and Defense Industry.

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Growing Passenger Travel a Major Factor Driving the NDT Market in A&D

The collapse of oil prices since 2014 have spurred airline profitability. At the same time, it was widely believed that lower oil prices led to even higher growth in air traffic, as fuel savings translate into lower fares and individuals shift the savings they receive from lower energy costs towards discretionary spending such as leisure travel. Demand for air travel is exponentially increasing.

In 2017, the non-destructive testing market was valued at USD 2.11 billion and is expected to reach a value of USD 3.83 million by 2023, registering a CAGR of nearly 10.43% during 2018 - 2023 (the forecast period). The scope of non-destructive testing (NDT) market report includes segmentation on the basis of component, equipment, service, and software. Based on the type of testing, the Market Segmentation: includes radiography testing, ultrasonic testing, magnetic particle testing and electromagnetic testing, liquid penetrant testing, visual inspection. Based on the aerospace industry, the scope of the report is limited to manufacturing, maintenance, repair, and overhaul. Moreover, by region, the report covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

In fact, over the next 20 years, around 40% of all new aircraft deliveries are expected to be for replacement purposes. However, the extended periods of depressed fuel prices may encourage aircraft operators to defer replacement of fuel-guzzling aircraft, without incurring higher operations costs. The requirement for new aircraft directly influences the non-destructive testing market in its manufacturing industry. Later when the new fleet gets into in-service, it has to go through NDT in regular intervals of time, which is expected to direct trigger to take off in the coming years.

Ultrasonic Testing Is Dominating the Market among Other Testing Techniques

The ultrasonic testing segment in the aerospace industry is expected to grow at a high pace, owing to its usage in the sub-surface inspection method. In the aerospace & defence sector, the common sub-surface inspection technique is an ultrasonic testing to locate voids, cracks, and laminations, as well as to inspect welds and measure thickness. Carbon fiber reinforced plastic has become important in the aerospace industry, as an increasing number of military and civilian aircraft designs are being based around the lightweight and high-strength properties of advanced composites. These materials are subjected to cracking, hence, ultrasonic testing is used to ensure the quality of the materials to provide structural integrity. In turbine maintenance, the ultrasonic testing is used to detect damages that are caused by erosion on the blade surfaces.

North America Undoubtedly the Leader in the Aerospace & Defense Sector

In North America, the United States holds nearly 80% and Canada occupies the rest of the market share. The aerospace industry has occupied the position of a market leader since ages, which has now reached its saturation point. The market share of this end-user industry is slipping toward the Asia Pacific, where China is expected to be a market leader by 2035. Due to growing regional tensions in the Middle East, North Korea, and the South China Sea, the demand for defense products is growing, which may lead to an increase in defense budgets. To conclude, the North American aerospace & defense industry is anticipated to witness a slump in the market share over the coming years.

Major companies covered in this Report:

Mistras Group
Fujifilm NDT Systems
GE Measurement And Control
Magnaflux Corporation
Nikon Metrology Inc
Olympus Corporation
SGS Group
Intertek Group PLC
Applus Services SA
Yxlon International GmbH
Team
Inc
Tüv Rheinland AG
Gould-bass Co.
FLIR Systems
Inc.

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REASONS TO PURCHASE THIS REPORT

Current and future of NDT market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel).

Finally, the feasibility of new investment projects is assessed, and overall research conclusions are offered. In this KEYWORD Market analysis, traders and distributors analysis is given along with contact details. For material and suppliers also, contact details are given. New investment feasibility analysis is included in the report.

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