Ultrasonic Testing Market Projected to Reach $4.6 Billion by 2029 with 9.5% CAGR Growth

(IT-NEWSWIRE.COM, November 29, 2024 ) The ultrasonic testing market is expected to reach USD 4.60 billion by 2029 from USD 2.92 billion in 2024, at a CAGR of 9.5% from 2024 to 2029.

The ultrasonic testing market is driven by the growth of adoption of ultrasonic testing in the healthcare sector; it reflects the trend towards non-invasive diagnostic testing. Ultrasonic testing uses high-frequency sound waves to create an image of the internal body of the material and structure. Ultrasonic testing also helps to diagnose medical conditions without emitting harmful radiation to the patient, unlike traditional methods that use X-rays and CT scans. NDT techniques are esteemed in a clinical environment to preserve the comfort and safety of patients. The demand for ultrasonic testing equipment and services is increasing due to healthcare providers' high usage of ultrasonic testing for prenatal imaging, organ assessments, vascular studies and others.

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The ultrasonic testing flaw detector equipment is expected to have the largest market share during the forecast period from 2024 to 2029. The capability of ultrasonic testing flaw detectors to accurately classify and identify the flaws or damage within the material such as voids, cracks, and inclusions has raised their popularity in various sectors such as power generation, infrastructure, automotive, manufacturing, oil & gas, automotive, aerospace and many others where structural integrity plays an enormous role in the context of safety and operational performance in these sectors. For instance, advancement in digital flaw detection equipment using phased array technology imparts high accuracy and detailed imaging.

Training services of the ultrasonic testing market are projected to grow at the highest CAGR during the forecast period for 2024-2029. The ultrasonic testing training services market has been experiencing rapid growth due to the increasing demands for highly skilled operators in industries like power generation, aerospace, automotive, marine, manufacturing, government, and oil & gas. This market expansion is attributed to phased array ultrasonic testing, is considered safer and more convenient for weld inspection than radiography, especially in the US and Canada. The shortage of skilled and trained technicians has been noticeable recently, inhibiting the need for ultrasonic testing-certified training. Training for ultrasonic inspection follows industry-recognized standards, such as ISO-9712, EN473, and ASNT, while ASNT itself is used as a third-party certifying agency accredited by the American National Standards Institute.

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Key Market Players

The key players in the ultrasonic testing market are Baker Hughes Company (US), EVIDENT (Japan), Eddyfi (Canada), Sonatest (US), NDT Systems Inc (US), SGS SOCIETE GENERALE DE SURVEILLANCE SA. (Switzerland), Intertek Group plc (UK), MISTRAS Group (US), DEKRA (Germany), Applus+ (Spain), TÜV Rheinland (Germany), Element Materials Technology (UK), Acoustic Control Systems (Germany), Amerapex Corporation (US), Ashtead Technology (Scotland), Acuren (US), Modsonic Instruments Mfg. Co. (P) Ltd. (India), SONOTEC GmbH (Germany), Applied Technical Services (US), Nexxis (Australia), Vertech Group (Australia), Guided Ultrasonics Ltd. (US), IRISNDT (Canada), Nanjing BKN Automation System Co., Ltd. (China), and OKOndt GROUP (US).

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Ultrasonic Testing Market Projected to Reach $4.6 Billion by 2029 with 9.5% CAGR Growth