360 MARKET UPDATES Report provides a 360-degree overview of the global Non-Destructive Testing in Aerospace and Defense Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Non-Destructive Testing in Aerospace and Defense Market – Segmented by component (equipment, software, services), Aerospace Industry (manufacturing, Maintenance, Repair & Overhaul), and Region – Growth, Trends and Forecasts (2018 – 2023)”
Global “Non-Destructive Testing in Aerospace and Defense Market” is expected to register a CAGR of approximately 10.43% during the forecast period of (2018 – 2023). Also, Non-Destructive Testing in Aerospace and Defense Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Non-Destructive Testing in Aerospace and Defense Analysis.
Non-Destructive Testing in Aerospace and Defense market Report provides a 360-degree overview of the global Non-Destructive Testing in Aerospace and Defense market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Non-Destructive Testing in Aerospace and Defense Market Report Covers Leading Manufacturers: Mistras Group, Fujifilm NDT Systems, GE Measurement And Control, Magnaflux Corporation, Nikon Metrology Inc, Olympus Corporation, SGS Group, Intertek Group PLC, Applus Services SA, Yxlon International GmbH, Team, Inc, TÃ¼v Rheinland AG, Gould-bass Co., FLIR Systems, Inc.
Get Sample PDF of Report – https://www.360marketupdates.com/enquiry/request-sample/12883903
In 2017, the non-destructive testing market was valued at USD 2.11 billion and is expected to reach a value of USD 3.83 million by 2023, registering a CAGR of nearly 10.43% during 2018 – 2023 (the forecast period). The scope of non-destructive testing (NDT) market report includes segmentation on the basis of component, equipment, service, and software. Based the type of testing, the market segmentation includes radiography testing, ultrasonic testing, magnetic particle testing and electromagnetic testing, liquid penetrant testing, visual inspection. Based on the aerospace industry, the scope of the report is limited to manufacturing, maintenance, repair, and overhaul. Moreover, by region, the report covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Growing Passenger Travel a Major Factor Driving the NDT Market in A&D
The collapse of oil prices since 2014 have spurred airline profitability. At the same time, it was widely believed that lower oil prices led to even higher growth in air traffic, as fuel savings translate into lower fares and individuals shift the savings they receive from lower energy costs towards discretionary spending such as leisure travel. Demand for air travel is exponentially increasing.
In fact, over the next 20 years, around 40% of all new aircraft deliveries are expected to be for replacement purposes. However, the extended periods of depressed fuel prices may encourage aircraft operators to defer replacement of fuel-guzzling aircraft, without incurring higher operations costs. The requirement for new aircraft directly influences the non-destructive testing market in its manufacturing industry. Later when the new fleet gets into in-service, it has to go through NDT in regular intervals of time, which is expected to direct trigger to take off in the coming years.
Ultrasonic Testing Is Dominating the Market among Other Testing Techniques
The ultrasonic testing segment in the aerospace industry is expected to grow at a high pace, owing to its usage in sub-surface inspection method. In the aerospace & defense sector, the common sub-surface inspection technique is an ultrasonic testing to locate voids, cracks, and laminations, as well as to inspect welds and measure thickness. Carbon fiber reinforced plastic has become important in the aerospace industry, as an increasing number of military and civilian aircraft designs are being based around the lightweight and high-strength properties of advanced composites. These materials are subjected to cracking, hence, ultrasonic testing is used to ensure the quality of the materials to provide structural integrity. In turbine maintenance, the ultrasonic testing is used to the detect damages that are caused by erosion on the blade surfaces.
North America Undoubtedly the Leader in the Aerospace & Defense Sector
In North America, the United States holds nearly 80% and Canada occupies the rest of the market share. The aerospace industry has occupied the position of a market leader since ages, which has now reached its saturation point. The market share of this end-user industry is slipping toward the Asia Pacific, where China is expected to be a market leader by 2035. Due to growing regional tensions in the Middle East, North Korea, and the South China Sea, the demand for defense products is growing, which may lead to an increase in defense budgets. To conclude, the North American aerospace & defense industry is anticipated to witness a slump in the market share over the coming years.
Order a Copy Of Non-Destructive Testing in Aerospace and Defense Market Report – https://www.360marketupdates.com/purchase/12883903
Reasons to Purchase Non-Destructive Testing in Aerospace and Defense Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
About 360 Market Updates:
360 Market Updates is the credible source for gaining the market reports that will provide you with the lead your business needs. At 360 Market Updates, our objective is providing a platform for many top-notch market research firms worldwide to publish their research reports, as well as helping the decision makers in finding most suitable market research solutions under one roof. Our aim is to provide the best solution that matches the exact customer requirements. This drives us to provide you with custom or syndicated research reports.
Name: Mr. Ajay More
Email: [email protected]
Organization: 360 Market Updates
Phone: +14242530807/+44 203 239 8187