(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinkerannounces the release of the report "Industrial Radiography Testing Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" -
Surge in demand from aerospace and automotive sectors, largely due to conformance to high industry standards and safety regulations and mandating testing, and preventive maintenance is boosting the adoption of industrial radiography testing solutions. Intense competition from ultrasonic systems, high risk of radiation, lack of skilled personnel, especially in digital radiography, and relative high deployment costs are expected to hinder the growth of the study market.
Key Highlights
With the growing demand for high-quality and low-cost products, the industrial radiography testing market is expected to have a wide scope of applications in areas such as petrochemical and gas, manufacturing, automotive and transportation, aerospace, power generation, and others.
The growth of the industrial radiography testing market is encouraged by the rising demand from the automotive and aerospace industry, because of the stringent safety regulations by varigovernments and preventive maintenance of industrial equipment.
North America held the largest share of the market, aided by the presence of the largest aerospace industry in the United States, and a huge automotive base in Mexico, where radiography is being used extensively. Companies are now increasingly focusing on reducing radiation-related risks, and preferring portability solutions, which has prompted companies to revamp their product portfolio.
Factors such as automation of inspection and testing process, fast industrialization in developing economies, and provision or facility of customized solutions can create huge opportunities for the market in the near future.
The COVD-19 pandemic has disrupted the supply chain for this industry but has also lead to an increase in demand of radiography testing in the healthcare industry.
Industrial Radiography Testing Market Trends
Computed Tomography to Drive the Industrial Radiography Testing Market Growth
The operation of a CT system is similar to DR with respect to the image acquisition process. With the help of the software, the object can be reconstructed to provide a 3D view of the internal and external structural details, with the final output being a 3D volumetric model. CT systems have become a relatively common NDT tool over the past five years; in particular, it is increasingly being recognized as a solution for dimensional measurement.
Defect/failure analysis, crack detection and measurement, assembly inspection, porosity, and void detection, density discrimination – material composition, 3D volume analysis are some of the major applications of CT. CT is being used extensively in the fields of material science, electronics, military, medical, food, archeology, security, aerospace, and automotive.
Major opportunities are still emerging primarily from industries, such as the automotive segment followed by the aerospace industry. As technology evolves, CT systems are expected to provide manufacturers not only with a means of inspection but also with valuable insight into the production process, which is expected to boost the adoption rate of CT systems.
Europe to Account for a Significant Share in the Market
The United Kingdom, Germany, France, and Russia have been identified as one of the major markets for Industrial Radiography Testing in Europe. The United Kingdom is the largest aerospace industry in Europe, with almost 17% of the global revenues in aerospace, second only to the United States.
The British aerospace industry is vast, with the presence of companies, like Systems, which is one of the world's leading defense contractors, and Rolls Royce, McLaren, etc. Health and environmental concerns by the government is leading to the implementation of initiatives aimed at improving the sector's performance at managing radiation protection, leading to stringent regulations set by the government.
Germany is investing significantly in offshore wind power projects. Industry 4.0 has its roots in Germany, and the companies investing in digitalization will need a high level of testing labs. Real-time monitoring and improved analytics are enabling manufactures to have better control of spare parts.
Large volume scan requirements in the aerospace and automotive industry with a detailed 3D view are expected to drive the sale of computed tomography in the region. France is a huge investor in nuclear power and the world leader in nuclear energy. The country houses many global giants in the energy industry, such as EDF, GDF Suez, and Areva. However, attempts by the president to reduce dependence on non-renewable sources of energy might change the dynamics of the market in the coming years.
Industrial Radiography Testing Industry Overview
The industrial radiography testing market is moderately competitive and consists of a few major players. In terms of market share, few of these major players currently dominate the market. These major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
Sept 2020 - YXLON International's computed tomography (CT) systems have upgraded its technology and is now directly compatible with VGSTUDIO MAX 3.4, the latest version of the analysis and visualization software for industrial CT data from Volume Graphics GmbH.
Sept 2020 - With the acquisition of theCompany Megtec/Universal, Dürr AG expanded its portfolio by adding important competencies in battery manufacturing technology. With its coating, drying and solvent recovery systems, Dürr Megtec- the partnership firm of bith companies offers solutions for three essential steps in the production of lithium-ion batteries. Dürr Megtec is part of the Clean Technology Systems division.
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