Acoustic Emission Equipment Market by Product Type (AE Systems, Hand-held Systems, and Standalone Systems), Technique (Multiple Channel Source Location Technique, Linear Source Technique, Zonal Source Technique, and Point Source Technique), and End User (EPC, Transportation, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2027
New York, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Acoustic Emission Equipment Market by Product Type, Technique, and End User : Global Opportunity Analysis and Industry Forecast, 2019–2027" - https://www.reportlinker.com/p05955166/?utm_source=GNW
The global acoustic emission equipment market was valued at $108.0 million in 2019 and is projected to reach $130.8 million by 2027, registering a CAGR of 3.2% from 2020 to 2027. Acoustic emission monitors the transient stress waves within a material, caused by rapid release of localized stress energy. On subjecting to external stimulus, a structure triggers localized sources within the material to release energy in the form of stress waves that propagates to the surface and are recorded by the sensors. Acoustic emission testing is one of the prominent methods of non-destructive testing. Acoustic emission testing requires sensors, preamplifiers, data acquisitive devices, and connectors or cables.
Aging infrastructure majorly drives the growth of the acoustic emission equipment market, as acoustic emission testing can predict the approximate life of the infrastructure for operation use. Moreover, growing activities in the aerospace and defense sector, the need of increasing standards of quality of products manufactured in developing countries, and growing number of new infrastructural projects globally are expected to boost the market growth. Furthermore, increase in investments in R&D to tackle technical challenges and integration of big data analytics with acoustic emission testing method are expected to provide lucrative growth opportunities for the market. However, lack of quantitative analysis in commercial acoustic emission testing method and difficulty in detection of weak signals in noisy operating environments are expected to hinder the growth of the acoustic emission equipment market.
The acoustic emission equipment industry is segmented on the basis of product type, technique, end user, and region. Based on product type, the market is classified into AE systems, hand-held systems, and standalone sensors. Based on technique, the market is analyzed into multiple channel source location technique, linear location technique, zonal location technique, and point location technique. By end user, the market is analyzed across EPC, transportation, aerospace & defense, and others. The EPC segment is further sub-segmented into construction, oil & gas, and power plants. Based on region, the global acoustic emission equipment market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the market include Acoustic Monitoring International, Inc., Campbell Scientific, Inc., Dodson Technical Services, Inc., Mistras Group, Inc., Parker-Hannifin Corporation, Schmitt Europe Ltd., Score Atlanta Inc., Siemens AG, Vallen Systeme GmbH, and Wabtec Corporation.
KEY MARKET SEGMENTS
BY PRODUCT TYPE
• AE Systems
• Hand-held Systems
• Standalone Sensors
• Multiple Channel Location Source Technique
• Linear Source Technique
• Zonal Source Technique
• Point Source Technique
o Oil & Gas
o Power Plants
• Aerospace & Defense
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
• Acoustic Monitoring International, Inc.
• Campbell Scientific, Inc.
• Dodson Technical Services, Inc.
• Mistras Group, Inc.
• Parker-Hannifin Corporation
• Schmitt Europe Ltd.
• Score Atlanta Inc.
• Siemens AG
• Vallen Systeme GmbH
• Wabtec Corporation
Read the full report: https://www.reportlinker.com/p05955166/?utm_source=GNW
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