Industrial X-ray Inspection Equipment and Imaging Software Markets, 2024 - Aerospace Segment is Expected to Hold a Significant Market Share
DUBLIN, Nov. 8, 2019 /PRNewswire/ -- The "Industrial X-ray Inspection Equipment and Imaging Software Market - Growth, Trends, Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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The industrial x-ray inspection equipment and imaging software market is expected to witness a CAGR of 6.05% during the forecast period (2019 - 2024).
A surge in demand from the aerospace and automotive sectors, largely due to conformance of high industry standards, safety regulations, mandating testing, and preventive maintenance, is boosting the adoption of equipment and imaging solutions.
-- A major evolution in the market over the past five years has been with
respect to the integration of advanced computing and imaging capacities
for advanced manipulation systems and automatic defect recognition
software. These features have been incorporated through the use of
graphics processing units (GPU) and high-performance computing
techniques.
-- Further, with the evolution of digital X-ray variants, the price of
equipment and operations has considerably gone down, enabling the rapid
adoption of X-ray technologies in the manufacturing environments. Some
of the initial industries that pioneered the use of X-ray inspection for
quality control include the aerospace and defense and the semiconductor
industry.
-- The oil and gas industry remains one of the most prominent industries in
the market and is expected to retain its position over the forecast
period. Asset protection of aging infrastructure, in contrast to new
investments in equipment, due to the plummeting crude oil prices, is
driving the radiography market in the oil and gas industry.
-- Owing to this, companies, such as Vidisco are expanding their product
offerings for the oil industry mostly in the downstream sector. However,
the upstream sector, as well as radiography technology, delivers highly
efficient solutions to inspection needs for pressure vessels (pipes,
boilers, valves) according to international standard ASME.
Scope of the Report
Industrial x-ray is a method of non-destructive testing where many types of manufactured components can be examined to verify the internal structure and integrity of the specimen.
Key Market Trends
Aerospace Segment is Expected to Hold a Significant Market Share
-- Depending on the type and the manufacturing process of the component
being tested, and size and engineering requirements, primarily four
radiography methods i.e., film, computed, direct, and real-time are used
in the aerospace sector. X-ray inspection applications include the
detection of internal defects in thick and complex shapes, and in
metallic and non-metallic shapes, and the quality of critical aerospace
components, structures, and assemblies.
-- The 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 x-ray inspection systems are being increasingly replaced
with digital systems in aerospace and the latter is expected to
completely overshadow the market, except for some critical
high-resolution imaging applications.
-- While the United States and Asia-Pacific have the largest demand for
x-ray inspection in the aerospace sector, the increasing usage of
aircrafts in the North African and Middle East (NEMA) region is also
driving the use of x-ray equipment and imaging solutions.
Asia Pacific is Expected to Hold the Largest Market Share
-- Heightened global security threats and higher defense spending from
major regional powers, such as China, India, and Japan, are likely to
drive the global defense sector's revenue growth. The region accounts
for more than a fifth of the global defense budget and is expected to
grow further.
-- In the automotive segment, Chinese production grew only moderately in
2018, reaching a total of 23.7 million passenger cars. China maintained
its leading position in the industry among the global passenger car
producers, accounting for 29% of all the cars produced around the world.
-- The Government of Japan is encouraging its energy companies to increase
exploration and development projects around the world, due to low
domestic production in the country, in order to secure a stable supply
of oil and natural gas. Furthermore, the Japanese inspection market is
very competitive and is experiencing stable growth due to the
regulations.
-- Moreover, India has planned to invest in the indigenous Nuclear Power
Program, by building 10 new reactors of 700 MWe. Also, the country is
developing a Russian designed International Reactor in Kudankulam. This
is providing an opportunity for the X-ray inspection vendors in the
proliferating Indian nuclear energy market.
Competitive Landscape
The industrial x-ray inspection equipment and imaging software market is highly competitive owing to the presence of many small and large players. The market appears to be moderately concentrated and is moving towards the fragmented market, due to the decreasing initial investments required for manufacturing and reverse engineering. Some of the key players in the market include North Star Imaging Inc., General Electric Company, Nikon Corporation, YXLON International among others.
-- February 2019 - North Star Imaging Inc. to address the demand in the
east coast-Boston area opened a facility for additional digital X-ray
and computed tomography.
-- November 2018 - YXLON introduced YXLON FF35 CT computed tomography
system, which is intended to attain extremely precise inspection results
for a wide range of applications.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Advent of Portable Radiography Equipment
4.3.2 Stringent Regulations and Safety Standards
4.4 Market Restraints
4.4.1 Requirement of Highly Skilled Personnel and Radiation-related Risks
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Offering
5.1.1 Equipment
5.1.2 Software
5.2 By Technology
5.2.1 Film Radiography
5.2.2 Computed Radiography
5.2.3 Direct Radiography
5.2.4 Computed Tomography
5.3 By End-user Industry
5.3.1 Aerospace
5.3.2 Energy and Power
5.3.3 Construction
5.3.4 Oil and Gas
5.3.5 Automotive
5.3.6 Manufacturing
5.3.7 Other End-user Industries
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 YXLON International
6.1.2 GE Measurement and Control
6.1.3 Nikon Metrology Inc.
6.1.4 North Star Imaging Inc.
6.1.5 Carestream Health
6.1.6 Durr AG
6.1.7 Olympus Corporation
6.1.8 Teledyne Dalsa Inc.
6.1.9 Rigaku Americas Corporation
6.1.10 Hamamatsu Photonics K.K.
6.1.11 L-3 Technologies
6.1.12 Vidisco Ltd
6.1.13 Bosello High Technology SRL
6.1.14 Canon Inc.
6.1.15 Hitachi Ltd
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/sj5mig
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