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New Product Launches & Developments and Partnerships to Increase their Revenue and Expand their Market Presence in Eddy Current Testing Market
Eddy current testing (ECT) is done to inspect the properties of a material, product, part, weld, or system without causing damage. The techniques which are used for the inspection are conventional eddy current testing, alternating current field measurement, remote field testing, eddy current array, pulsed eddy current testing, and many others. Some of the key players influencing the market for ECT are General Electric (U.S.), Olympus Corporation (Japan), Ashtead Technology Ltd. (U.K.), Mistras Group Inc. (U.S.), and Eddyfi NDT Inc. (Canada).
Most of the leading companies adopted the strategies such as new product launches & developments and partnerships to increase their revenue and expand their market presence. Ashtead Group Inc. (U.K.) partnered with JR Technology (U.S.) and Silverwing Ltd. (U.K.). Mistras Group Inc. (U.S.) entered into a partnership with The Equity Engineering Group Inc. (U.S.). Companies such as Eddyfi NDT Inc. (Canada), Ether NDE Limited (U.K.) among many others focus on research & development.
General Electric (U.S.) is expected to play a significant role in the NDT market. It is one of the renowned brands in the inspection and measurement industry. GE has developed a new digital solution to NDT industry; this tool is likely to help the industry to improve inspection productivity, reduce training cost, improve assets reliability, and provide probability of detection. GE offers a broad portfolio of ultrasonic, radiographic, visual inspection, and eddy current testing equipment. Also, it has expanded its inspection technologies business. GE opened a new NDT technology solution center in the U.K. to solve the inspection-related problems and provide solutions and help in their applications. The company launched a new inspectionWork connect software platform for non-destructive testing which gives the live inspection video and more accurate data and increase inspection productivity.
Eddyfi NDT Inc. (Canada) is another company that is expected to play a major role in the ECT market. The company provides products related to electronic instrument, probe and software. The company is one of the world’s experts in the field of advanced eddy current testing which provide the best application and specific testing solution. The company has acquired SliverWing (U.K.); through this acquisition, the company would increase the multiple NDT technology. The company launched a new Probot Probe pusher system; the probe is designed to increase the speed of inspection. The company offers high-end inspection solutions to major industries including oil & gas, power generation and aerospace. The company develops surface and tubing inspection equipment and software for both ferrous and non-ferrous materials with eddy current testing.
Eddy Current Testing Market by Type (Conventional Eddy Current, ACFM, RFT, Eddy Current Array, Pulsed Eddy Current, Near-Field Testing, Near-Field Array, Partial Saturation Eddy Current), Service, Vertical, and Geography - Global Forecast to 2022
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