What is Nondestructive Testing Probes?
Non-destructive testing is a combination of various inspection techniques used by industry to evaluate the properties of a material, component, structure or system for characteristic differences or welding defects and discontinuities without causing damage to the original part. It ensures secure and long-term stable use of components. It helps to detect errors in the material which brings to the failure of components and equipment later when the final product is used. It does not cause any damage to the components and thus only really defective parts are sorted out and rejected.
The market study is broken down, by Application (Aviation, Automotive, Rail, Power Generation, Manufacturing, Military, Marine and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Nondestructive Testing Probes market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric (United States), Olympus Corporation (Japan), MISTRAS Group (United States), Nikon Metrology (Belgium), Ashtead Technology (Scotland), YXLON International (Germany), Sonatest (United Kingdom), Zetec, Inc. (United States), T.D. Williamson Inc. (United States), Bosello High Technology srl (Italy) and Eddyfi (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Magnaflux (United States), Fischer Technology Inc. (United States), Cygnus Instruments Ltd. (United Kingdom), NDT Global GmbH (Germany), Acuren (United States) and LynX Inspection (Canada).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Nondestructive Testing Probes market by Type, Application and Region.
On the basis of geography, the market of Nondestructive Testing Probes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Inspection Services will boost the Nondestructive Testing Probes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Nondestructive Testing Probes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique, the sub-segment i.e. Ultrasonic Testing (UT) will boost the Nondestructive Testing Probes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
Recently, Mistras Group, Inc. (NYSE:MG), a leading "one source" global provider of technology-enabled asset protection solutions, announced that it acquired West Penn Non-Destructive Testing, LLC (West Penn). West Penn is Nadcap accredited, ISO 9001 and AS 9100 certified, and complies with an extensive array of client and industry codes and specifications.
Market Trend
- Increasing Adoption of IoT Devices
Market Drivers
- Accidental Prevention and Increased Product Reliability
- Increasing Need to Assess Health of Aging Assets
- Increased Awareness about the Importance of Non-destructive Testing
Opportunities
- Rising Demand from the Aviation Industry
- Growing Demand from end-user Industry
Restraints
- Lack of Skilled Personnel fo Inspection Services
Challenges
- High Cost Associated with the Instruments
- Complexities in the Instruments
Key Target Audience
Non-destructive Testing Equipment Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.