Market Size of Europe Non-Destructive Testing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.28 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Non-Destructive Testing Market Analysis
The European non-destructive testing (NDT) market was valued at USD 2.82 billion in 2019, and it is projected to be registering a CAGR of 5.28% during the period of 2020-2025. Non-destructive testing (NDT) involves inspection, testing, or evaluation of components, materials, or assemblies. NDT involves examination for disparities in characteristics or discontinuities, primarily without hampering the serviceability of the product or part.
- The current market trends in NDT equipment are robust live data capture and comprehensive capture, which require instant feedback in real-time. New sensors are being incorporated in non-destructive testing (NDT) devices, along with other smart and multifunctional components that are embedded and intelligent. The emergence of Big Data and IoT devices enabled equipment vendors to integrate improved reporting mechanisms, primarily as a value addition to gain a competitive advantage in the market.
- Non-destructive test methods can save substantial time by eliminating the need for disassembly or dismantling. For the maintenance of aircraft, the examination of internal structural components (like wing ribs), carried out by removing (and replacing) the outer skin, may be accomplished by radiographic inspection equipment.
- According to Eurostat, in Austria, the repair and maintenance costs related to aircraft in 2019 were valued at USD 64.03 million and are expected to increase to USD 81.1 million by 2024. With a significant increase in the number of component failures in the aerospace sector, the subsequent necessity of timely inspections and damage control are expected to drive the growth of the NDT market during the forecast period.
- The market for Europe Non-destructive testing has historically been subjected to moderate growth due to increasing spending in the end use industries. This is projected to bolster the growth of the market during the forecast period. The ongoing COVID-19 pandemic has resulted in a significant decline in market growth as the pandemic restricts the supply chain and adoption due to severe disruptions to businesses and the global economy.
