Worldwide Industrial Radiography Industry to 2028 - Growing MRO Operation in APAC Presents Opportunties

Dublin, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The "Global Industrial Radiography Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technique (Film-based Radiography and Digital Radiography); End-User Industry" report has been added to ResearchAndMarkets.com's offering.

The industrial radiography market is expected to reach US$ 993.45 million by 2028 from US$ 532.31 million in 2021; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.

The overall market has been segmented into four major regions - North America, Europe, Asia Pacific (APAC), Middle East and Africa, and South and Central America. In 2020, North America held the largest share of the market. North America has the world's largest aerospace sector due to the presence of different military and commercial aircraft manufacturers as well as maintenance, repair, and overhaul (MRO) service providers. The sector in North America has thrived due to a positive outlook toward the adoption of new technologies, presence of a competent workforce, existence of favorable economic policies, and high GDP per capita. This is driving the growth of the industrial radiography market in this region. A few of the world's largest aircraft manufacturers, including Airbus, Dassault Aviation, Leonardo, and Thales Group, have manufacturing sites in Europe. The presence of such major players has paved the way for the development of military and civilian planes and helicopters. One of the primary forces driving the industrial radiography market growth in Europe is the presence of several aircraft and helicopter manufacturers in the region.

Innovative active interrogation approaches to identify threats to national security are required to protect a country's airports, borders, and ports. All detection approaches need a source of high-energy particles for inducing specific reactions that serve as major signatures in detecting fissile materials or conventional explosives. The most instant perceived threats and their essential materials comprise conventional explosives, special nuclear materials, mass destruction weapons, chemical agents, and contraband. The radiography technology can be utilized to scan cargo to guarantee that nothing is being smuggled into the country. The use of industrial radiography technology enables users to distinguish between different materials. Also, governments are investing significant amounts in border security by deploying the latest technologies at borders. For instance, the Chinese government plans to construct additional 215 airports by 2035. Also, the Indian government plans to build 100 new airports across the country by 2024. Growth in the construction and expansion of airports is anticipated to boost the demand for industrial radiography.

The industrial radiography market is segmented on the bases of technique, end-user industry, and geography. Based on technique, the market is bifurcated into digital radiography and film-based radiography. By end-user industry, the market is segmented into petrochemical and gas, power generation, manufacturing, aerospace, and automotive & transportation.

From the past few years, the rising aviation industry has been propelling the demand for aircraft maintenance, repair, and overhaul (MRO) services. APAC is highly focused on extending MRO services for commercial and military aircraft companies. A few of the aircraft MRO businesses in APAC include Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO), China; MTU Maintenance; and ExecuJet Haite Aviation Services China Co., Ltd. Huge spending on aviation infrastructure, economic growth, and increasing passenger count are among the factors propelling the adoption of aircraft MRO services. Moreover, the increasing number of middle-class travelers, especially in APAC countries such as China, Singapore, and India, is the main factor contributing to the rise in air travel, which is consequently increasing the need for aircraft MRO services in the region. The radiography techniques are among the most used techniques for inspecting aircraft components as they subsequently reduce overall downtime and cost. The MRO companies across the regions are engaged in the rapid adoption of radiography systems to ensure efficient and time-saving MRO procedures. With a rising fleet of wide-body and narrow-body aircraft, the airlines in APAC are demanding reliable and versatile systems for inspecting aircraft. Thus, it would create lucrative business opportunities for the players in the industrial radiography market in APAC in the coming years.

3DX-RAY, Anritsu, Comet Group, Fujifilm Corporation, GENERAL ELECTRIC, METTLER TOLEDO, Nikon Corporation, NOVO DR LTD, SHIMADZU CORPORATION, and ZEISS International are among the key players operating in the industrial radiography market.

Reasons to buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global industrial radiography market.

• Highlights key business priorities in order to assist companies to realign their business strategies.

• The key findings and recommendations highlight crucial progressive industry trends in the global industrial radiography market, thereby allowing players across the value chain to develop effective long-term strategies.

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Global Industrial Radiography Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Industrial Radiography Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Importance of Quality Control
5.1.2 Increasing Importance for Border Security
5.1 Market Restraints
5.1.1 Radiation Hazards, Government Regulations, and Lack of High Skilled Labour
5.2 Market Opportunities
5.2.1 Growing MRO Operation in APAC
5.3 Future Trends
5.3.1 Integration of AI and ML
5.4 Impact Analysis of Drivers and Restraints

6. Industrial Radiography Market - Global Analysis
6.1 Industrial Radiography Market Global Overview
6.2 Industrial Radiography Market - Global Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players

7. Industrial Radiography Market Analysis - By Technique
7.1 Overview
7.2 Industrial Radiography Market, By Technique (2020 and 2028)
7.3 Film-based Radiography
7.3.1 Overview
7.3.2 Film-based Radiography: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Digital Radiography
7.4.1 Overview
7.4.2 Digital Radiography: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)

8. Industrial Radiography Market - By End-User Industry
8.1 Overview
8.2 Industrial Radiography Market, by End-User Industry (2020 and 2028)
8.3 Manufacturing
8.3.1 Overview
8.3.2 Manufacturing: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Aerospace
8.4.1 Overview
8.4.2 Aerospace: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Automotive and Transportation
8.5.1 Overview
8.5.2 Automotive and Transportation: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Power Generation
8.6.1 Overview
8.6.2 Power Generation: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Petrochemical and Gas
8.7.1 Overview
8.7.2 Petrochemical and Gas: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Industrial Radiography Market - Revenue and Forecast to 2028 (US$ Million)

9. Industrial Radiography Market - Geographic Analysis

10. Impact of COVID-19 Pandemic on Industrial Radiography Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment of COVID-19 Pandemic
10.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.5 South America: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development

12. Company Profiles
12.1 3DX-RAY
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Anritsu
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Comet Group
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Fujifilm Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 GENERAL ELECTRIC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 METTLER TOLEDO
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Nikon Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 NOVO DR LTD
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 SHIMADZU CORPORATION
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 ZEISS International
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments

13. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/1rzkxb

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900