HOME Research Insight General Electric (US) and Olympus Corporation (Japan) are the Key Players in the Non-Destructive Testing and Inspection Market

General Electric (US) and Olympus Corporation (Japan) are the Key Players in the Non-Destructive Testing and Inspection Market

The Non-destructive testing (NDT) market is expected to be worth USD 12.06 Billion by 2023, growing at a CAGR of 7.83% between 2017 and 2023. Innovative technological advancements creating new application areas for NDT. The aging infrastructure and the increasing need for its maintenance, and immense demand for NDT inspection services for the aging infrastructure to tackle with corrosion issues provide opportunities for the players in the NDT market.

General Electric (US), Olympus Corporation (Japan), Ashtead Technology Ltd. (UK), Mistras Group Inc. (US), and Nikon Corporation (Japan) are the leading players in the NDT market. Most of the leading companies adopted organic and inorganic strategies such as new product launches and partnerships to boost their revenue and increase the market presence. Ashtead Group Inc. (UK) partnered with JR technology (US) and Silverwing Ltd. (UK). Yxlon International GmbH (Germany) entered into a partnership with Mirtec Corporation (US), Lotus F1 (U.K), and Hexagon Metrology (Sweden). Companies such as Nikon Corporation (Japan), Eddyfi NDT Inc. (Canada), Magnaflux Corporation (US), and many others focused on the research and development. These leading strategies in this market help companies to remain and grow in the technically competitive market.

General Electric (US) is estimated to play a significant role in the NDT market. It is one of the prominent brands in the inspection and measurement industry. The company offers strong R&D for testing equipment. GE delivers a wide range of ultrasonic, radiographic, visual inspection, and Eddy current testing equipment. GE also focus on new product developments to provide advanced NDT techniques to customers. Moreover, the company expanded its presence in order to increase its customer base worldwide. For example, in November 2015, GE opened a new technology solutions centre in the UK to provide customers with a facility to test GE’s Non-Destructive Testing (NDT) technologies to solve their specific inspection problems. Also, it has expanded its inspection technologies business. The company launched a simplified and automated workflow CT scanner for non-destructive testing services. This scanner gives high cost-effectiveness, and improved scanning speed to control the output of many production lines.

Olympus Corporation (Japan) is also one of the leading companies that is anticipated to play a major role in the NDT market. The company offers various products such as optics, photography, audio, medical, and scientific solutions. Olympus delivers scanners, flaw detectors, fiberscopes, videoscopes, and analyzers. Olympus gives nondestructive testing equipment based on ultrasonic and Eddy current technologies. The company also focus on organic strategies such as new product launch. Recently, in March 2017, the company launched new cost effective Vanta Handheld X-ray Fluorescence (XRF) Analyzer to scan for toxic metals like lead (Pb), cadmium (Cd), mercury (Hg), chromium (Cr) and bromine (Br) in consumer products such as toys, apparel, footwear and electronics to comply with RoHS regulations.

Related Reports:

Non-Destructive Testing and Inspection Market by Technique (Visual Testing, Magnetic Particle, Liquid Penetrant, Eddy Current, Ultrasonic, Radiographic, Acoustic Emission), Method, Service, Vertical, and Geography - Global Forecast to 2023

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