Non-Destructive Testing and Inspection Quadrant Report

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Non-Destructive Testing and Inspection Market (Global) Company Evaluation Quadrant
Published on
Mar'2019
Pages
66
Code
360-SE 2860
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Non-destructive testing is a collection of engineering techniques and procedures that are applied to detect surface and subsurface faults or defects in materials, components, and welds, without damaging or destroying the element under inspection. The NDT method is used to inspect an object for defects, without disturbing its operating performance. This technique ensures product reliability and integrity and reduces production cost while maintaining a uniform quality level. NDT can be performed using several techniques, including ultrasonic, radiographic, magnetic particle, electromagnetic and eddy-current, visual, and liquid penetrant testing. NDT can be used to ensure quality right from the raw material stage through fabrication and processing to pre-service and in-service inspection.

The non-destructive testing and inspection market is estimated to grow to USD 13 billion by 2024. Stringent government regulations regarding public safety and product quality, and continuous advances in electronics, automation, and robotics are a few key factors driving the growth of the NDT and Inspection market. The high adoption of IoT devices and rising need to assess the health of aging assets also propel the growth of the NDT Market and inspection market.

Stringent government regulations regarding public safety and product quality to drive NDT and Inspection market

This report identifies and benchmarks the best Non-Destructive Testing and Inspection system providers such as General Electric (US), Olympus Corporation (Japan), MISTRAS Group (US), Nikon Metrology (Belgium), Ashtead Technology (Scotland), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Non-Destructive Testing and Inspection ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant’, and identified as Visionary Leaders (top companies), Dynamic Differentiators, Innovators, or Emerging companies.

The report includes market-specific company profiles of 20 top Non-Destructive Testing and Inspection system providers globally and assesses the recent developments that shape the competitive landscape of this highly fragmented market. An in-depth analysis of the major non-destructive testing and inspection system providers is done at a granular level to create this report.


List of companies evaluated and profiled in the report:

  • ACUREN INSPECTION INC.
  • ASHTEAD TECHNOLOGY.
  • BOSELLO HIGH TECHNOLOGY SRL
  • CYGNUS INSTRUMENTS LTD
  • EDDYFI
  • FISCHER TECHNOLOGY INC.
  • FPRIMEC SOLUTIONS INC.
  • GENERAL ELECTRIC
  • IPROMAR PTE LTD
  • LABQUIP NDT LIMITED
  • LYNX INSPECTION
  • MAGNAFLUX CORPORATION
  • MISTRAS GROUP
  • NDT GLOBAL GMBH & CO. KG
  • NIKON METROLOGY
  • OLYMPUS CORPORATION
  • SONATEST LTD.
  • TD WILLIAMSON, INC.
  • YXLON INTERNATIONAL GMBH
  • ZETEC INC.

Table of Contents

1 Introduction
   1.1 Market Definition

2 Market Overview
   2.1 Introduction
   2.2 Evolution of Non-Destructive Testing
          Figure 1 Non-Destructive Testing Methods: Evolution
   2.3 Market Dynamics
          Figure 2 Stringent Government Regulations Regarding Public Safety and Product Quality to Drive NDT and Inspection Market During Forecast Period
          2.3.1 Drivers
                    2.3.1.1 Stringent Government Regulations Regarding Public Safety and Product Quality
                    2.3.1.2 Continuous Advances in Electronics, Automation, and Robotics
                    2.3.1.3 High Adoption of IoT Devices
                    2.3.1.4 Rising Need to Assess Health of Aging Assets
          2.3.2 Restraints
                    2.3.2.1 Dearth of Skilled and Qualified Personnel for Inspection Services
          2.3.3 Opportunities
                    2.3.3.1 Large-Scale Infrastructural Developments in APAC, Europe, and Latin America
                    2.3.3.2 Growing Demand for NDT Inspection Services From Power Generation Industry
                    2.3.3.3 Technological Advancements Creating New Application Areas for NDT Equipment
                    2.3.3.4 Importance of NDT in Controlling Corrosion in Aging Infrastructure
          2.3.4 Challenges
                    2.3.4.1 Evident Reluctance to Adopt New NDT Techniques
                    2.3.4.2 Increased Complexity of Machines and Structures
                    2.3.4.3 High Cost of Automated NDT Equipment

3 Industry Trends
   3.1 Introduction
   3.2 Value Chain Analysis
          Figure 3 Value Chain: NDT and Inspection Market

4 Company Evaluation Quadrant
   4.1 Visionary Leaders
   4.2 Dynamic Differentiators
   4.3 Innovators
   4.4 Emerging Companies
          Figure 4 Non-Destructive Testing and Inspection Market (Global) Company Evaluation Quadrant
   4.5 Strength of Product Portfolio (For All 25 Players)
   4.6 Business Strategy Excellence (For All 25 Players)

5 Competitive Landscape
   5.1 Introduction
          Figure 5 Leading Companies in Non-Destructive Testing and Inspection Market Mostly Adopted Organic Growth Strategies During 2015–2017
   5.2 Ranking Analysis of Market Players, 2017
          Figure 6 NDT and Inspection Market Player Ranking, 2017
   5.3 Competitive Situations and Trends
          Figure 7 Market Players Adopted Product Launches as Key Business Strategy During 2015–2017
          5.3.1 Product Launches
                    Table 1 Product Launches, 2015–2017
          5.3.2 Partnerships and Collaborations
                    Table 2 Partnerships and Collaborations, 2015–2017
          5.3.3 Expansions
                    Table 3 Expansions, 2015
          5.3.4 Contracts and Agreements
                    Table 4 Contracts and Agreements, 2015–2016
          5.3.5 Acquisitions
                    Table 5 Acquisitions, 2016–2017

6 Company Profiles
   6.1 Key Players
         6.1.1 General Electric
                   6.1.1.1 Business Overview*
                                Figure 8 General Electric: Company Snapshot
                   6.1.1.2 Products Offered*
                   6.1.1.3 Recent Developments*
                   6.1.1.4 SWOT Analysis*
                   6.1.1.5 MnM View*
                   (*Above sections are present for all of below companies)
         6.1.2 MISTRAS Group
                   Figure 9 MISTRAS Group: Company Snapshot
         6.1.3 Olympus Corporation
                   Figure 10 Olympus Corporation: Company Snapshot
         6.1.4 Ashtead Technology.
         6.1.5 Nikon Metrology
         6.1.6 Magnaflux Corporation
         6.1.7 Zetec Inc.
         6.1.8 Eddyfi
         6.1.9 YXLON International GmbH
         6.1.10 Sonatest Ltd.

7 Appendix
   7.1 Other Significant Players
         7.1.1 Fischer Technology Inc.
         7.1.2 NDT Global GmbH & Co. Kg
         7.1.3 TD Williamson, Inc.
         7.1.4 Bosello High Technology srl
         7.1.5 Labquip NDT Limited
         7.1.6 Ipromar Pte Ltd
         7.1.7 Fprimec Solutions Inc.
         7.1.8 LynX Inspection
         7.1.9 Cygnus Instruments Ltd
         7.1.10 Acuren Inspection Inc.
   7.2 Methodology
   7.3 List of Abbreviations

This report identifies and benchmarks the best Non-Destructive Testing and Inspection system providers such as General Electric (US), Olympus Corporation (Japan), MISTRAS Group (US), Nikon Metrology (Belgium), Ashtead Technology (Scotland), and evaluates them on the basis of business strategy excellence and strength of product portfolio within the Non-Destructive Testing and Inspection ecosystem, combining inputs from various industry experts, buyers, and vendors, and extensive secondary research including annual reports, company press releases, investor presentations, free and paid company databases. They are rated and positioned on a 2x2 matrix, called as ‘Company Evaluation Quadrant’, and identified as Visionary Leaders (top companies), Dynamic Differentiators, Innovators, or Emerging companies.

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