Technavio
Announces the Publication of its Research Report Global Ultrasonic NDT
Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global ultrasonic NDT equipment market: GE Inspection Technologies, Olympus, and Sonatest.
Other prominent vendors in the market are: Danatronics, Eddyfi, James Instruments, NDT Systems, PaR Systems, Qualitest International, and Trinity NDT.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is ultrasonic testing for case-hardened components and laser-welded tailored blanks. Case-hardened components testing is used widely in the automobile industry, including for camshafts, ball bearings, crankshafts, and roller bearings, which require tight tolerance limits. The ultrasonic testing can be either implemented in a process integrated NDT unit, or can be installed in post-process testing systems. This inexpensive NDT method has led to a reduction in the high cost of material, and also a reduction in production line downtime, which is involved in the testing processes.”
According to the report, one of the primary drivers in the market is expanding aerospace and defense sector. The aerospace and defense sector uses ultrasonic testing equipment for frequent testing of the welds in joined structural steel parts and materials. The global aerospace and defense sector is expected to witness moderate growth during the forecast period. Technavio expects the industry to grow by 3.12% in 2016. During the past few years, the global aerospace and defense industry witnessed a continuous decline in revenue growth, which registered 3.1% in 2013, 1.89% in 2014, and 0.61% in 2015.
Technavio recognizes the following companies as the key players in the global ultrasonic NDT equipment market: GE Inspection Technologies, Olympus, and Sonatest.
Other prominent vendors in the market are: Danatronics, Eddyfi, James Instruments, NDT Systems, PaR Systems, Qualitest International, and Trinity NDT.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is ultrasonic testing for case-hardened components and laser-welded tailored blanks. Case-hardened components testing is used widely in the automobile industry, including for camshafts, ball bearings, crankshafts, and roller bearings, which require tight tolerance limits. The ultrasonic testing can be either implemented in a process integrated NDT unit, or can be installed in post-process testing systems. This inexpensive NDT method has led to a reduction in the high cost of material, and also a reduction in production line downtime, which is involved in the testing processes.”
According to the report, one of the primary drivers in the market is expanding aerospace and defense sector. The aerospace and defense sector uses ultrasonic testing equipment for frequent testing of the welds in joined structural steel parts and materials. The global aerospace and defense sector is expected to witness moderate growth during the forecast period. Technavio expects the industry to grow by 3.12% in 2016. During the past few years, the global aerospace and defense industry witnessed a continuous decline in revenue growth, which registered 3.1% in 2013, 1.89% in 2014, and 0.61% in 2015.
Further, the
report states that one major challenge in the market is necessity for
price-sensitive and multiple technology solutions. Advances in technology have
encouraged companies to invest in innovative products, thus increasing market
competitiveness. Evolving consumer preferences have increased the need for
investments in product development. A majority of ultrasonic NDT equipment
vendors are dependent on raw materials from China to manufacture their
products. The increase in raw material costs and import duties imposed by
governments worldwide have increased the production cost of ultrasonic NDT equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Ultrasonic NDT Equipment
Ultrasonic is one of the types of NDT equipment. NDT is a method of finding discontinuity in a test material without harming the material. Ultrasonic equipment uses high-frequency sound energy to conduct examinations and make measurements. The frequency used for ultrasonic testing is in the range of 500 KHz to 20 MHz. Ultrasonic testing equipment also examines the internal structure or thickness of the material and helps to detect discontinuity within the test material. It is widely used in the oil and gas, power generation, aerospace and defense, automobile, and fabrication industries. High accuracy, reliability, reproduction of output, material characterization, no potential health hazards, and no damage to the test material are some of the advantages of ultrasonic NDT equipment.
Technavio’s analysts forecast the global ultrasonic NDT equipment market to grow at a CAGR of 5.89% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ultrasonic NDT equipment market for 2016-2020. To calculate the market size, the report covers the present scenario and the growth prospects of the global ultrasonic NDT equipment market for the period 2015-2020.
The market is divided into the following segments based on geography:
• APAC
• Europe
• North America
• ROW
Technavio's report, Global Ultrasonic NDT Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• GE Inspection Technologies
• Olympus
• Sonatest
Other prominent vendors
• Danatronics
• Eddyfi
• James Instruments
• NDT Systems
• PaR Systems
• Qualitest International
• Trinity NDT
Market driver
• Emergence of new avenues for natural gas market.
• For a full, detailed list, view our report
Market challenge
• Necessity for price-sensitive and multiple technology solutions.
• For a full, detailed list, view our report
Market trend
• Ultrasonic testing for case-hardened components and laser-welded tailored blanks.
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Ultrasonic is one of the types of NDT equipment. NDT is a method of finding discontinuity in a test material without harming the material. Ultrasonic equipment uses high-frequency sound energy to conduct examinations and make measurements. The frequency used for ultrasonic testing is in the range of 500 KHz to 20 MHz. Ultrasonic testing equipment also examines the internal structure or thickness of the material and helps to detect discontinuity within the test material. It is widely used in the oil and gas, power generation, aerospace and defense, automobile, and fabrication industries. High accuracy, reliability, reproduction of output, material characterization, no potential health hazards, and no damage to the test material are some of the advantages of ultrasonic NDT equipment.
Technavio’s analysts forecast the global ultrasonic NDT equipment market to grow at a CAGR of 5.89% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ultrasonic NDT equipment market for 2016-2020. To calculate the market size, the report covers the present scenario and the growth prospects of the global ultrasonic NDT equipment market for the period 2015-2020.
The market is divided into the following segments based on geography:
• APAC
• Europe
• North America
• ROW
Technavio's report, Global Ultrasonic NDT Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• GE Inspection Technologies
• Olympus
• Sonatest
Other prominent vendors
• Danatronics
• Eddyfi
• James Instruments
• NDT Systems
• PaR Systems
• Qualitest International
• Trinity NDT
Market driver
• Emergence of new avenues for natural gas market.
• For a full, detailed list, view our report
Market challenge
• Necessity for price-sensitive and multiple technology solutions.
• For a full, detailed list, view our report
Market trend
• Ultrasonic testing for case-hardened components and laser-welded tailored blanks.
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Table
of content: https://marketreportscenter.com/reports/456014/global-ultrasonic-ndt-equipment-market-2016-2020#toc
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