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The radiography test equipment market was valued at USD 1,111.84 million in 2020 and is expected to reach a value of USD 1899.7 million by 2026, registering a CAGR of about 9.29% during the forecast period (2021 - 2026)

ReportLinker
·4-min read

Increase in demand from aerospace and automotive sectors, primarily due to conformance to high industry standards and safety regulations is boosting the adoption of radiography testing solutions.

New York, April 15, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Radiography Test Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06062839/?utm_source=GNW

- The shift from analog to digital technology has given the industrial radiography market a new lease of life for NDT applications, broadening the scope of X-ray inspection systems beyond traditional applications.
- Companies are now increasingly focusing on reducing radiation-related risks, and preferring portability solutions, which has prompted companies to revamp their product portfolio. For instance, Samsung has adopted radiography to test their batteries after the much-publicized Note 7 fiasco.
- Incidents, like the BP Macondo disaster, the San Bruno pipeline explosion, and the BP Texas City refinery explosion, have further emphasized on the need for safety, environmental sustainability, therefore governmental agencies and regional bodies like ASME & ISO have taken stringent measures to assure safety and regulatory compliances.
- Intense competition from ultrasonic systems, high risk of radiation, lack of skilled personnel, to handle radiography equipment which uses gamma rays (especially in digital radiography). Also, relatively high deployment costs are expected to hinder the growth of the study market.

Key Market Trends
Application in Aerospace to Account for a Significant Portion of the Market Demand

- Radiography test equipment, mainly used in manufacturing and maintenance of military and civil aircraft, are considered under the scope of the aerospace segment.
- Radiography applications in aerospace, include detection of internal defects in thick and complex shapes, in metallic and non-metallic shapes, quality of critical aerospace components, structures, and assemblies.
- Increasing emphasis on safety standards, decreasing service intervals, low emission targets, and the advent of new materials and process are the major factors driving the radiography market in the aerospace segment.
- Conventional radiography is being increasingly replaced with digital radiography in aerospace, and the latter is expected to completely overshadow the market, except for some critical high-resolution imaging applications.
- This shift has also been fuelled by the advent of common binding standard for the common accreditation, in accordance with the National Aerospace and Defense Contractors Accreditation Program (NADCAP).

North America to Account for Significant Market Share

- The resurgence of construction and infrastructure sector post the economic recession of 2007-08 has opened up new growth opportunities to radiograph equipment makers in the region. Also, Fluctuations in oil prices, new manufactures in automotive vehicles and aircraft and spacecraft are leading to efficient use of resources, and hence, the region is witnessing investments in insourcing of equipment.
- As the United States is one of the early adopters of manufacturing automation, the use of automated solutions in some regions of testing is expected to address the issue of lack of skilled personnel, by releasing workers from hard and dangerous, repetitive and monotonous work.
- The defense budget of the US federal government has also been increasing over the past few years. On average, defense spending is 8% of the country’s growth domestic product (GDP). Additionally, the United States is one of the largest automotive manufacturers in the world, manufacturing an average of over 8 million passenger vehicles annually, which means more vehicle maintenance, which will increase the demand of radiography equipment.

Competitive Landscape
The major companies like YXLON International, GE Measurement and Control, Nikon Metrology Inc., Teledyne Dalsa Inc., Hamamatsu Photonics K.K., Canon Inc., Hitachi Ltd, among others. The market is fragmented due to the intense competition among the major players since they are investing more and more in the R&D for immeasurable accuracy in their equipment. Therefore, the market concentration will be low.

- March 2019 - New Alphenix 4D CT configuration addressed Interventional radiology needs TUSTIN, Calif. At this year’s Society of Interventional Radiology (SIR) 2019, Canon Medical Systems USA, Inc. planned to showcase its new, advanced angiography configuration, the AlphenixTM 4D CT, which features its Alphenix Sky + C-arm and Hybrid Catheterization Tilt/Cradle Table for intervention.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06062839/?utm_source=GNW

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