1 Executive Summary
1.1 Key Market Highlights 9
2 Scope of the Report
2.1 Market overview 10
2.2 Scope of the Study 10
2.3 Assumptions 10
2.4 Market Structure 10
2.5 Top Vendor Offerings 11
3 Market Research Methodology
3.1 Research Process 13
3.2 Primary Research 14
3.3 Secondary Research 14
3.4 Market Size Estimation 14
3.5 Forecast Model 15
4 Market Dynamics
4.1 Introduction 16
4.2 Drivers 17
4.2.1 Expanding aerospace and defense sector 17
4.2.2 Growth in wind energy market 18
4.2.3 Emergence of new avenues for natural gas market 20
5 Challenges
5.1 Necessity for price-sensitive and multiple-technology solutions 21
5.2 Lack of skilled manpower 21
5.3 Approval of different standards to use new technology 21
5.4 Rise in pipeline sabotage threats 21
6 Impact of Drivers and Challenges
7 Trends
7.1 Growth In Electrical Vehicle Sales 23
7.2 Use of Phased Array Equipment in Lieu of Radiography 25
7.3 Miniaturization and Need for Customization of Ultrasonic NDT Equipment 25
7.4 Ultrasonic Testing for Case-Hardened Components and Laser-Welded Tailored Blanks 25
7.5 Porter’s Five Forces Analysis 25
7.5.1 Introduction 25
8 Ultrasonic NDT Equipment Market, By End-User
8.1 Overview 27
8.1.1 Oil & Gas Industry 28
8.1.2 Power Generation 30
8.1.3 Aerospace and defense sector 35
8.1.4 Automotive and Transportation industry 37
8.1.5 Others 38
9 Geographical Segmentation
9.1 Introduction 40
9.2 North-America 41
9.3 Europe 43
9.4 Asia-Pacific 46
9.5 Rest of the World 48
10 Vendor Landscape
10.1 Competitive Scenario 50
10.2 Other Prominent Vendors 51
11 Key Vendor Analysis
1.1 GE Inspection Technologies 52
11.1.1 Overview 52
11.1.2 Product/Services Offering 52
11.1.3 Strategy 53
11.1.4 SWOT Analysis 54
11.2 Olympus Corporation 55
11.2.1 Overview 55
11.2.2 Product/Services Offering 55
11.2.3 Strategy 56
11.2.4 SWOT Analysis 57
11.3 Sonatest 58
11.3.1 Overview 58
11.3.2 Product/Services Offering 58
11.4 Danatronics 59
11.4.1 Overview 59
11.4.2 Product/Services Offering 59
11.5 Eddyfi 60
11.5.1 Overview 60
11.5.2 Product/Services Offering 60
11.6 James Instruments 61
11.6.1 Overview 61
11.6.2 Product/Services Offering 61
11.7 NDT Systems 62
11.7.1 Overview 62
11.7.2 Product/Services Offering 62
11.8 PaR Systems 64
11.8.1 Overview 64
11.8.2 Product/Services Offering 64
11.9 Qualitest International 65
11.9.1 Overview 65
11.9.2 Product/Services Offering 65
11.10 Trinity NDT 67
11.10.1 Overview 67
11.10.2 Product/Services Offering 67
12 Appendix
12.1 List of abbreviations 68
13 List of Tables
TABLE 1 KEY COUNTRIES IN EACH REGION 11
TABLE 2 TOP VENDOR OFFERINGS 11
TABLE 3 ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 27
TABLE 4 OIL & GAS INDUSTRY MARKET, BY REGION (USD MILLION) 28
TABLE 5 POWER GENERATION MARKET, BY REGION (USD MILLION) 30
TABLE 6 BENEFITS OF NUCLEAR POWER 32
TABLE 7 POWER REACTORS UNDER CONSTRUCTION 32
TABLE 8 AEROSPACE & DEFENSE SECTOR MARKET, BY REGION (USD MILLION) 35
TABLE 9 AUTOMOTIVE & TRANSPORTATION INDUSTRY MARKET, BY REGION (USD MILLION) 37
TABLE 10 OTHERS MARKET, BY REGION (USD MILLION) 38
TABLE 11 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET, BY REGION (USD MILLION) 40
TABLE 12 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 41
TABLE 13 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 42
TABLE 14 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 44
TABLE 15 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 45
TABLE 16 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 46
TABLE 17 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 47
TABLE 18 REST OF THE WORLD ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 49
14 List of Figures
FIGURE 1 MARKET RESEARCH FUTURE RESEARH PROCESS 13
FIGURE 2 DRIVERS, CHALLENGES AND TRENDS 16
FIGURE 3 DRIVERS & CHALLENGES 17
FIGURE 4 WORLDWIDE AIRCRAFT PRODUCTION, 2023-2030 18
FIGURE 5 MAJOR DRIVERS FOR AEROSPACE AND DEFENSE 18
FIGURE 6 WORLD RENEWABLE ENERGY CONSUMPTION (% OF TOTAL FINAL ENERGY CONSUMPTION), 2023-2030 19
FIGURE 7 GLOBAL CUMULATIVE WIND INSTALLED CAPACITY 2023-2023 (GW) 19
FIGURE 8 GLOBAL CUMULATIVE OFFSHORE WIND INSTALLATION CAPACITY 2023-2030 (MW) 20
FIGURE 9 IMPACT OF DRIVERS AND CHALLENGES 22
FIGURE 10 WORLD ELECTRICAL VEHICLES PRODUCTION (2023) 23
FIGURE 11 US PHEV CAR SALES 2023-2030 (SALES IN THOUSANDS) 24
FIGURE 12 GLOBAL EV SALES OUTLOOK 2023-2030 (MILLIONS OF UNITS) 24
FIGURE 13 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET: PORTER’S FIVE FORCES ANALYSIS 26
FIGURE 14 ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 28
FIGURE 15 OIL & GAS INDUSTRY MARKET, BY REGION (USD MILLION) 29
FIGURE 16 PIPELINE TRANSPORTATION 29
FIGURE 17 ROAD TANKER TRANSPORTATION 30
FIGURE 18 POWER GENERATION MARKET, BY REGION (USD MILLION) 31
FIGURE 19 GLOBAL ELECTRICITY GENERATION BY SOURCE (2023) 31
FIGURE 20 GLOBAL POWER OUTLOOK 34
FIGURE 21 SOURCE OF POWER, 2023 34
FIGURE 22 AEROSPACE & DEFENSE SECTOR MARKET, BY REGION (USD MILLION) 36
FIGURE 23 GLOBAL COMMERCIAL AIRCRAFT DELIVERY 2023-2034 36
FIGURE 24 AUTOMOTIVE & TRANSPORTATION INDUSTRY MARKET, BY REGION (USD MILLION) 38
FIGURE 25 OTHERS MARKET, BY REGION (USD MILLION) 39
FIGURE 26 GLOBAL ULTRASONIC NDT EQUIPMENT MARKET, BY REGION (USD MILLION) 41
FIGURE 27 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 42
FIGURE 28 NORTH AMERICA ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 43
FIGURE 29 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 44
FIGURE 30 EUROPE ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 45
FIGURE 31 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY COUNTRY (USD MILLION) 47
FIGURE 32 ASIA PACIFIC ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 48
FIGURE 33 REST OF THE WORLD ULTRASONIC NDT EQUIPMENT MARKET, BY END USERS (USD MILLION) 49