The global Nondestructive Test Equipment market is projected to reach US$1.9 billion by 2018, driven by technology developments, stringent product usage specifications and strong government safety regulations.
Stringent product usage specifications, strong government safety regulations mandating safety of personnel, and tight quality control requirements are especially driving demand for NDT Equipment. Instances of infrastructure failures such as refinery blasts, leakages in nuclear reactors, and pipeline explosions, in the recent years, have prompted governments across the globe to enact stringent safety regulations, thus driving increased adoption of NDT equipment.
The trend towards retention of legacy equipment and structural assets as an austerity measure among industries also gives opportunity for growth in the NDT equipment market. NDT equipment is increasingly being used to monitor operational feasibility and ensure safe extended use of aging and legacy plant assets. Developments in nanomaterials and advanced components and use of the same for manufacturing a range of structural equipment is also creating need for NDT equipment that can perform inspection of such material and structures.
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