A closer look at the economic turmoil of Non-Destructive Testing Services Market, with a focus on the recent COVID-19 pandemic disruptions.
Online PR News – 29-May-2020 – Pune – Covid-19 Impact on Non-Destructive Testing Services Market is estimated to exhibit high growth potential during the forecast period owing to the high demand across industry verticals. Rising demand among the end-use industries for non-destructive testing services drives the growth of the market. Additionally, innovation and advancement in technology and increasing market for non-destructive testing services is adding fuel to the growth of the Covid-19 Impact on Non-Destructive Testing Services Market.
MISTRAS Group, Inc., Olympus Corporation, GE Inspection Technologies, Intertek Group PLC, SGS S.A., Olympus Corporation, and Nikon Metrology are some of the leading players in the market. MITRAS Group offers advanced NDT services, traditional NDT services, engineering services and NDT centres of excellence for all consumer demands related to non-destructive testing services. The company focusses on offering innovative solutions and keeps up with the fast pace of the technological advancements. Rise in demand to ensure safety and growing government regulations are some of the major factors driving the growth of Covid-19 Impact on Non-Destructive Testing Services Market. With the focus on promoting the adoption of non-destructive testing services and the convenience provided to consumers, the global Covid-19 Impact on Non-Destructive Testing Services Market is expected to grow.
The global Covid-19 Impact on Non-Destructive Testing Services Market is segmented by type, technique, application and vertical. The vertical segment is further classified into aerospace & defense, automotive, oil & gas, infrastructure, and power. The aerospace & defense sub-segment is expected to hold the largest market share of the overall Covid-19 Impact on Non-Destructive Testing Services Market during the forecast period. This is owing to the increasing demand for Covid-19 Impact on Non-Destructive Testing Services Market in the aerospace and defense sector. These non-destructive testing services help in ensuring safety during the production of complex aircraft accessories. However, the high costs of advanced non-destructive testing equipment and technical complexities involved in implementation of non-destructive testing are the major factors that could hinder the growth of global Covid-19 Impact on Non-Destructive Testing Services Market. other factors such as the lack of awareness and skilled personnel may also hamper the market growth.
According to Market Research Future Analysis, the global Covid-19 Impact on Non-Destructive Testing Services Market is estimated to generate revenue of approximately USD 26 billion by 2023 growing at a CAGR of 8% during the forecast period 2017-2023.
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Some of the key players in the market: MISTRAS Group, Inc. (U.S.), Olympus Corporation (Japan), GE Inspection Technologies (U.S.), Intertek Group PLC (U.K.), SGS S.A. (Switzerland), Olympus Corporation (Japan), Nikon Metrology, Inc. (U.S.), Ashtead Technology, Inc. (U.S.), Sonatest Ltd. (U.K), Bosello High Technology S.R.L. (Italy), and Fujifilm Holdings Corporation (Japan).