Non Destructive Testing (NDT) Market Analysis & Forecasts 2018-2023
Non-destructive testing market is projected to witness a compound annual growth rate of 7.91% during the forecast period, reaching a total market size of US$19.596 billion in 2023 from US$12.410 billion in 2017.
Non Destructive Testing (NDT) refers to the examination of different components and materials for flaws without harming the object being tested. Escalating costs of machine failures in several end-use industries is the key driver of this market. Rising complexity of machines and equipment, stringent government regulations regarding workers' safety, tight quality control requirements, and strict product usage specifications are other important factors augmenting the demand for NDT equipment in various industries across the globe.