Training Services to Take a Toll in APAC Nations Showcase Increased Demand: Increasing number of applications of ultrasonic testing across aerospace and defense sector for detecting internal flaws with higher accuracy and rapidly surging need for automation in the manufacturing industries has been driving APAC ultrasonic testing market. Rising number of aging infrastructure, leading to surging new infrastructure development has been resulting in growing demand for professional NDT technicians. This in turn is expected to substantially drive the growth of APAC ultrasonic testing market. India ultrasonic testing market is witnessed as making heavy investments in R&D of power grid infrastructure for expanding their electricity network towards almost each household. Major infrastructure undertakings in U.S. across various verticals such as transportation, power generation and aerospace is expected to fuel the growth of North America ultrasonic testing market.
Rental Systems to Gain Significant Traction in the Ultrasonic Testing Market: Surging demand for the reliable non-destructive technique in the manufacturing of carbon fiber composite and fiberglass is expected to be one of the most important factor driving the growth of ultrasonic testing market. Increasing number of testing cases in nuclear power plants for ensuring safety while construction events is expected to further support the growth of ultrasonic testing market. Renting ultrasonic testing equipment is expected to gain significant traction in ultrasonic testing market. Demand for rental ultrasonic testing equipment is expected to increase from small and medium sized companies, which in turn has been influencing the vendors as well on provision basis. However, dearth of skilled technicians and professionals for testing and maintenance of the equipment is likely to restrain the growth of ultrasonic testing market.
Minimizing Inspection Time to Be Key Focus of Ultrasonic Testing Market Players: Olympus Corporation: The ultrasonic testing market player has recently announced launch of higher-sensitivity SpinSR10 microscope that provides better brightness being a superior model. This microscope helps in identifying internal cell structure even in minute details. The higher-sensitive SpinSR10 microscope is expected to significantly contribute towards biological and medical research where the observation of fine structures has turned out to be comparatively critical. Development of this model is expected to notably benefit during long-term observations, thereby benefitting the healthcare industry, resulting in growth of ultrasonic testing market.
Eddyfi UK Ltd.: The ultrasonic testing market player has introduced its new building in Espace d’innovation Michelet, for radiating Eddyfi Technologies brand on an international basis. The company has invested nearly CA$14 M for stimulating this workplace. In a bid to expand its business operations and work-experience, the company is taking immense efforts in making ways for offering high-performance solutions for inspection of crucial assets and components, which in turn is expected to benefit the ultrasonic testing market as well.
TIAA Bank: The ultrasonic testing market player has lately acquired healthcare equipment financing portfolio from Healthcare Equipment Finance business of GE Capital. This in turn benefits TIAA Bank in expanding its commercial banking business as well as enhances its ability for offering full-range financial solutions to the institutional clients, by serving them with higher number of healthcare suppliers. A 5year supplier financing agreement has been finalized between the two companies which will be strengthening TIAA Bank’s services for the healthcare institutions. This in turn is expected to create lucrative growth opportunities for ultrasonic testing market with regarding to revenue sales growth.
Classification of the Ultrasonic Testing Market Has Been Done Based on End-Use, Equipment and Type: By end-use, ultrasonic testing market is categorized into: Defense, Aerospace, Healthcare, Automotive, Oil & gas, Construction, Manufacturing, Others; By equipment, ultrasonic testing market is categorized into: Industrial Inspection Systems, Industrial Scanners, Transducers and Probes, Thickness Gauges, Flaw Detectors, Others; By type, ultrasonic testing market is categorized into: Guided-Wave Testing, Immersion Testing, Phased Array, Non-Destructive Testing, Others.
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Ultrasonic testing market research report offers comprehensive assessment of the global market and also comprises of insightful facts and data with industry evaluated and statistically backed market data. The global report further consists of forecast data by means of suitable techniques and set of predictions. In addition, ultrasonic testing market research report provides data and study based on market categories such as industries, applications as well as regions.