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1 NONDESTRUCTIVE TESTING MARKET By Technology (Visual, Magnetic Particle, Electromagnetic, Liquid Penetrant, Radiography, Ultrasonic) & Application (Aerospace, Defense, Automotive, Oil & Gas, Infrastructure, Power Generation) MarketsandMarkets

2 MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers fourteen industry verticals, including aerospace and defense, advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT. Copyright 2014 MarketsandMarkets All Rights Reserved. This document contains highly confidential information and is the sole property of MarketsandMarkets. No part of it may be circulated, copied, quoted, or otherwise reproduced without the approval of MarketsandMarkets. MarketsandMarkets 2

3 1 MARKET OVERVIEW 1.1 MARKET SEGMENTATION BY APPLICATION FIGURE 1 NONDESTRUCTIVE TESTING MARKET SEGMENTATION, BY APPLICATION MarketsandMarkets 3

4 1.1.2 BY END USER FIGURE 2 MARKET SEGMENTATION, BY END USER Commercial Industry Aerospace & Defense Industry NDT of turbines NDT of ship hulls NDT of aircraft NDT Market Segmentation by End User Automotive industry Oil & gas industry Inf rastructure industry Power generation MarketsandMarkets 4

5 2 GEOGRAPHICAL ANALYSIS 2.1 NORTH AMERICA NONDESTRUCTIVE TESTING MARKET Construction and manufacturing activity in North America has driven the nondestructive testing market. The rapid growth of transportation, power transmission and supply, oil & gas industry, and aerospace and defense industry are the reasons for growth in this market. TABLE 1 NORTH AMERICA:NONDESTRUCTIVE TESTING MARKET SIZE, ($MILLION) Industry CAGR% Aerospace and Defense XX XX XX XX XX XX XX XX Commercial XX XX XX XX XX XX XX XX Total XX XX XX XX XX XX XX XX The table above illustrates that the NDT market in North America for aerospace and defense industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by The NDT market for commercial industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by North America is in the process to manufacture 12 new defense aircraft by MarketsandMarkets 5

6 3 COUNTRY ANALYSIS 3.1 U.S. NONDESTRUCTIVE TESTING MARKET The U.S. is the largest market for NDT. U.S. defense spending is estimated to increase by Aircraft production in the U.S. is expected to grow, and hence the revenue generated from NDT will increase. The production of vehicles in the U.S. is expected to grow by 2020, which in turn will fuel the growth for NDT in the automotive industry. TABLE 2 U.S.:NONDESTRUCTIVE TESTING MARKET SIZE, AEROSPACE AND DEFENSE INDUSTRY, ($MILLION) Country CAGR% U.S. XX XX XX XX XX XX XX XX The table above illustrates that the NDT market for aerospace and defense for the U.S is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by The manufacture of defense aircraft in the country is increasing, on account of which there will be growth in demand of NDT in U.S. MarketsandMarkets 6

7 TABLE 3 U.S.: NONDESTRUCTIVE TESTING MARKET SIZE, COMMERCIAL INDUSTRY, ($MILLION) Industry CAGR% Automotive XX XX XX XX XX XX XX XX Oil & Gas XX XX XX XX XX XX XX XX Infrastructure XX XX XX XX XX XX XX XX Power Generation XX XX XX XX XX XX XX XX Total XX XX XX XX XX XX XX XX The table above illustrates that the NDT market in the U.S. for the automotive industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach $27.40 million by The NDT market in the U.S. for oil & gas industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by The NDT market for the infrastructure industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by 2020 and the NDT market for the power generation industry is XX million in 2014 and is estimated to grow at a CAGR of XX to reach XX million by MarketsandMarkets 7

8 FIGURE 3 U.S.:NONDESTRUCTIVE TESTING MARKET SIZE, COMMERCIAL INDUSTRY, ($MILLION) Industry 4 Industry 3 Industry 2 Industry The above chart illustrates the market size of the various industries in the commercial sector in the U.S. from 2014 to The NDT market for the automobile industry and the infrastructure industry is estimated to grow rapidly by 2020, due to which the demand for NDT in these markets is estimated to rise. MarketsandMarkets 8

9 Disclaimer: MarketsandMarkets strategic analysis services are limited publications containing valuable market information provided to a select group of customers in response to orders. Our customers acknowledge, when ordering, that MarketsandMarkets strategic analysis services are for our customers internal use and not for general publication or disclosure to third parties. Quantitative market information is based primarily on interviews and therefore, is subject to fluctuation. MarketsandMarkets does not endorse any vendor, product or service depicted in its research publications. MarketsandMarkets strategic analysis publications consist of the opinions of MarketsandMarkets' research and should not be construed as statements of fact. MarketsandMarkets disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. MarketsandMarkets takes no responsibility for any incorrect information supplied to us by manufacturers or users. All trademarks, copyrights and other forms of intellectual property belong to their respective owners and may be protected by copyright. Under no circumstance may any of these be reproduced in any form without the prior written agreement of their owner. No part of this strategic analysis service may be given, lent, resold or disclosed to noncustomers without written permission. Reproduction and/or transmission in any form and by any means including photocopying, mechanical, electronic, recording or otherwise, without the permission of the publisher is prohibited. For information regarding permission, contact: Tel: MarketsandMarkets 9

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