Boston, MA -- (SBWIRE) -- 06/02/2014 -- Nondestructive Testing Market by Technology (Visual, Magnetic Particle, Electromagnetic, Liquid Penetrant, Radiography, Ultrasonic) & Application (Aerospace, Defense, Automotive, Oil & Gas, Infrastructure, Power Generation) - Global Trends & Forecasts to 2014 - 2020
The nondestructive testing market is estimated to grow at a CAGR of 3.5% to reach $1720.96million by 2020
NDT uses a number of techniques designed to test and measure various material and mechanical properties of an object without affecting its operating performance. The goal of NDT is to optimize safety, reliability, and cost-effectiveness and hence NDT plays a vital role in the aerospace and defense sector. Rapid industrialization and growing safety regulations by government on the aerospace and defense industry and other industries have fuelled the growth of the global NDT market. There is immense growth opportunity for NDT in other commercial sectors like automotive industry, oil & gas industry, infrastructure industry, and power generation.
The report provides extensive global and individual market estimate and forecast with CAGRs and detailed analysis. The NDT market is segmented by application, technology, end user, and, geography. The report discusses the factors that drive and restrain the growth on this market. The report provides a glance on the trends in the NDT market. Company profiles and market share analysis state the competitive intelligence of the market.
The report provides a complete forecast and analysis of geographical regions like North America, Latin America, Europe, APAC, and the Middle-East.
North America and Europe are the largest market for NDT in 2014. APAC, and Latin America are the emerging growth markets for NDT.
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