Industrial Radiography Testing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Industrial Radiography Testing Market is segmented by Technology (Film Radiography, Computed Radiography, Direct Radiography, and Computed Tomography), End-User Industry (Aerospace & Defense, Petrochemical & Gas, Energy & Power, Construction, Automotive & Transportation, Manufacturing, and Other End-User Industries), and Geography (North America, Europe, Asia Pacific, Rest of World). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

Industrial Radiography Testing Market Size

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Industrial Radiography Testing Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 8.75 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Industrial Radiography Testing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Industrial Radiography Testing Market Analysis

The industrial radiography testing market was valued at USD 643.76 million the previous year and is expected to register a CAGR of 8.75%, reaching USD 1.056 million over the forecast period.

  • Industrial radiography testing is widely used in the manufacturing and maintenance of military and civil aircraft and is considered under the scope of the aerospace segment. Radiography applications in aerospace include the detection of internal defects in thick and complex shapes, in metallic and non-metallic shapes, quality of critical aerospace components, structures, and assemblies.
  • The growing size of commercial and military aircraft fleets is anticipated to drive opportunities in the studied market. For instance, according to Boeing, about 17,645 commercial aircraft are anticipated to be delivered in the Asia Pacific region between 2021-2040, followed by North America (9,160) and Europe (8,705), among others.
  • The demand for industrial radiography solutions is also anticipated to witness stable growth in the petrochemical and gas and energy & power sector as the global energy demand is growing significantly. For instance, according to the International Energy Agency (IEA), the global electricity demand is anticipated to grow at a much faster pace of about 3% per year over the period (2023-2025) compared with the 2022 growth rate. Furthermore, IEA also estimates that around USD 2.8 trillion will be invested in energy in 2023. Such trends are thus anticipated to drive opportunities in the studied market as industrial radiography testing is widely used in the energy industry to identify infrastructure/equipment defects.
  • However, the higher cost of radiography testing equipment and solutions, along with a high risk of radiation, are among the major factor challenging the studied market's growth. Furthermore, a lower awareness, especially across developing markets, also challenges the studied market's growth.
  • The market studied has witnessed a notable impact of COVID-19 as the major end-user industries, such as automotive, aerospace, construction, and petrochemical, were highly impacted by the demand and production vertical. However, with covid-led restrictions lifted from almost all the countries and the market demand gaining traction, the studied market is also anticipated to witness positive growth during the forecast period.

Industrial Radiography Testing Market Trends

Aerospace and Defense to be the Largest End User

  • The aerospace industry needs the highest quality standards for its products and demands nondestructive testing (NDT), such as radiography testing, for quality assurance. The exponential rise in demand for air travel worldwide drives tremendous growth in the aircraft industry. Any aircraft component built with defects and inconsistencies can result in catastrophic failures, endangering the operators' health and life as well as a considerable deal of money. As a result, radiography testing has emerged as a crucial industry component to guarantee aviation safety.
  • Radiography NDT can penetrate a wide range of materials with varying densities to detect defects in joins using RT weld inspections, profile in-service systems to determine corrosion presence, perform radiography tests for casting to inspect fabrication flaws or foreign objects, and detect damage in composite materials. Radiography testing is anticipated to develop into an efficient technique for nondestructively identifying internal faults in materials and structures used in the industry due to the growing need to ensure safety.
  • Additionally, in March 2023, GE Aerospace announced plans to invest more than USD 450 million in its current US manufacturing facilities, including the purchase of state-of-the-art machinery and facility upgrades to better position the business and support assembly improvements, capacity expansion, maintenance, and enhanced safety infrastructure upgrades. The market opportunities for several vendors to improve their radiography testing offerings will be enhanced by such investments in enhancing a company's manufacturing capabilities.
  • Furthermore, the demand for manufacturing capabilities is anticipated to increase significantly as air passenger numbers rise, necessitating the need for testing techniques. According to the International Air Transport Association (IATA), for the entire year 2022, global traffic increased by 68.5% over pre-pandemic (2019) levels. Revenue passenger kilometers, or RPKs, or total traffic, increased by 64.4% from 2021 to 2022. December 2022 saw an increase in international traffic of 80.2% over December 2021, reaching 75.1% in December 2019.
Industrial Radiography Testing Market: Air Travel Passenger Demand, in Percentage (%), Year-on-Year,  2022, Global, by Region

Asia Pacific is Expected to Hold Significant Market Share

  • The Asia-Pacific region is expected to grow significantly in the industrial radiography testing market as all the major end-user industries of the market studied are witnessing rapid growth. The penetration of advanced manufacturing and product testing solutions is also growing as significant vendors operating in the market are expanding their global footprint, wherein quality and product safety becomes crucial for them to compete with international players.
  • The growing manufacturing end-user industries such as petrochemical, oil & gas, automotive, aerospace, defense, and others are set to boost the market growth rate in the region. In February 2022, PetroChina Jilin Petrochemical Company launched its transformation and upgrading project. The project includes constructing 21 new facilities, such as the 1.2Mt/ethylene unit, renovating nine facilities, and shutting down seven facilities. The project is facilitative to the high-quality development of CNPC's petrochemical and refining business, an extension of the local petrochemical industry chain, and the revitalization of Northeast China.
  • Furthermore, India Brand Equity Foundation (IBEF) stated that the aerospace industry is growing significantly due to the rising activities from the defense and civil aviation sectors. With the increasing need for large aircraft from Indian carriers such as SpiceJet and Indigo and the focus on powered-by-hour contracts (PBH), many of India's aerospace services and manufacturing actions are anticipated to be carried out. Similarly, as India's defense capital expenditure spending continuously grows, there are also many opportunities in defense aerospace. This offers opportunities for start-ups as well as further evolution for existing players. The Indian aerospace & defense (A&D) market is projected to reach around USD 70 billion by 2030, driven by the burgeoning need for advanced infrastructure and government thrust.
  • The rise of industrialization in Asian countries, especially India, China, and Japan, will drive the market for industrial radiography testing devices. According to IBEF, India has the potential to become a global manufacturing hub. By 2030, the country can add more than USD 500 billion yearly to the global economy, which will create demand in the studied market.
  • The increase in industrial manufacturing and the adoption of Industry 4.0 creates a demand for radiography testing techniques in the region. For instance, according to the data from IBEF, the Government of India has set an ambitious target of increasing manufacturing output contribution to 25% of the GDP by 2025 from 16%. The Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) Udyog Bharat 4.0 initiative aim to enhance awareness about Industry 4.0 within the Indian manufacturing industry. Such initiatives are expected to drive the market.
Industrial Radiography Testing Market - Growth Rate by Region

Industrial Radiography Testing Industry Overview

The industrial radiography testing market is fragmented, with the presence of major players like Fujifilm Corporation (Fujifilm Holdings Corporation), Baker Hughes Nikon Metrology NV (Nikon Corporation), North Star Imaging Inc., and Carestream Health. Players in the market are adopting strategies such as partnerships, innovations, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

In May 2023, Waygate Technologies, a Baker Hughes company, announced that it is introducing the new flagship computerized tomography (CT) scan solution Phoenix V|tome|X M Omni. A wide range of 3D metrology, research, and evaluation applications in the laboratory environment as well as automatic production quality checks, is made possible by this extremely flexible premium CT solution.

In January 2023, Nikon Corporation launched a new reconstruction algorithm allowing scanning times to be reduced by typically 10-fold. Dual Material CT provides enhanced efficiency on assemblies comprising two materials of different densities. It significantly improves the ability to distinguish between the two materials in the voxel image reconstructed from 2D X-rays taken as the component rotates in the chamber of a Nikon X-ray CT machine. The benefits of X-ray CT for non-destructive inspection and measurement of both the interior and exterior of components are well known.

Industrial Radiography Testing Market Leaders

  1. Fujifilm Corporation (Fujifilm Holdings Corporation)

  2. Baker Hughes

  3. Nikon Metrology NV (Nikon Corporation)

  4. North Star Imaging Inc.

  5. Carestream Health

*Disclaimer: Major Players sorted in no particular order

Industrial Radiography Testing Market Concentration
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Industrial Radiography Testing Market News

  • July 2023: Canon Inc. launched the Zexirai9 digital X-ray RF system, a multi-purpose fluoroscopic table with many new functions and a compact design. Zexirai9 is a new digital X-ray RF system equipped with Canon's flat panel detector (FPD) and a newly developed image processing technology; the system has been developed in consultation with medical staff, referring physicians, and engineers.
  • May 2023: Nikon Metrology announced the launch of its next-generation family of X-ray computed tomography (CT) inspection systems called VOXLS (VOlumemetricX-ray Leading Solutions). It is designed for diverse inspection needs across automotive, aerospace, and academia industries - and likely for use on composite structures - the VOXLS family includes the large-volume VOXLS 40 C 450 available now and four medium-sized models coming later this year. Such initiatives by the companies in the market are expected to complement the industrial radiography market during the forecast period.

Industrial Radiography Testing Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHT

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Impact of Macro Trends on the Market Landscape

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Rising Demand From Automotive and Aerospace Industry

      2. 5.1.2 Augmented Accuracy of Inspection With the Integration of Advanced Software

    2. 5.2 Market Restraints

      1. 5.2.1 High Risk of Radiation Since it uses Gamma Rays, X-Rays

      2. 5.2.2 High Deployment Costs

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Technology

      1. 6.1.1 Film Radiography

      2. 6.1.2 Computed Radiography

      3. 6.1.3 Direct Radiography

      4. 6.1.4 Computed Tomography

    2. 6.2 By End-User Industry

      1. 6.2.1 Aerospace and Defense

      2. 6.2.2 Petrochemical and Gas

      3. 6.2.3 Energy and Power

      4. 6.2.4 Construction

      5. 6.2.5 Automotive and Transportation

      6. 6.2.6 Manufacturing

      7. 6.2.7 Other End-User Industries

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Rest of World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 Fujifilm Corporation (Fujifilm Holdings Corporation)

      2. 7.1.2 Baker Hughes

      3. 7.1.3 Nikon Metrology NV (Nikon Corporation)

      4. 7.1.4 North Star Imaging Inc.

      5. 7.1.5 Carestream Health

      6. 7.1.6 Durr NDT GmbH & Co. Kg

      7. 7.1.7 Evident Corporation (Bain Capital)

      8. 7.1.8 Comet Holding AG

      9. 7.1.9 Teledyne Dalsa Inc. (Teledyne Technologies)

      10. 7.1.10 Rigaku Corporation (Carlyle Group)

      11. 7.1.11 Hamamatsu Photonics K.K

      12. 7.1.12 L3Harris Technologies Inc.

      13. 7.1.13 Vidisco Ltd (Aran Electronics Ltd.)

      14. 7.1.14 Carl Zeiss AG

      15. 7.1.15 Canon Medical Systems Corporation (Canon Inc.)

      16. 7.1.16 Hitachi Ltd.

  8. 8. MARKET INVESTMENTS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Industrial Radiography Testing Industry Segmentation

Industrial radiographic testing (RT) is a nondestructive examination (NDE) technique that entails using either x-rays or gamma rays to view and inspect the internal structure of a component. It is extremely reproducible, can be utilized on various materials, and the data accumulated can be stored for later analysis. Radiography is an effective and efficient tool that requires minimal surface preparation. Furthermore, many radiographic systems are portable, which allows for usage in the field and at elevated positions.

The industrial radiography testing market is segmented by technology (film radiography, computed radiography, direct radiography, computed tomography), by end-user industry (aerospace & defense, petrochemical & gas, energy & power, construction, automotive & transportation, manufacturing), by geography (North America, Europe, Asia Pacific, Rest of World).

The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Technology
Film Radiography
Computed Radiography
Direct Radiography
Computed Tomography
By End-User Industry
Aerospace and Defense
Petrochemical and Gas
Energy and Power
Construction
Automotive and Transportation
Manufacturing
Other End-User Industries
By Geography
North America
Europe
Asia Pacific
Rest of World
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Industrial Radiography Testing Market Research FAQs

The Industrial Radiography Testing Market is projected to register a CAGR of 8.75% during the forecast period (2024-2029)

Fujifilm Corporation (Fujifilm Holdings Corporation) , Baker Hughes , Nikon Metrology NV (Nikon Corporation) , North Star Imaging Inc. and Carestream Health are the major companies operating in the Industrial Radiography Testing Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Industrial Radiography Testing Market.

The report covers the Industrial Radiography Testing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Radiography Testing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Radiography Testing Industry Report

Statistics for the 2024 Industrial Radiography Testing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Radiography Testing analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Radiography Testing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)