PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279655
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279655
Global Non-destructive (NDT) Testing Software Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. In non-destructive testing (NDT), parts, materials, or assemblies are examined, tested, or evaluated. Without affecting the product's usability or component, it investigates differences in attributes or discontinuities. NDT programme can digitalize various NDT workflow processes, such as operations for inspection, testing, and integrity evaluation. In addition to assisting organizations in completing more inspections and testing faster, it also reduces the need for paper forms, filing cabinets, and spreadsheets. The Non-destructive (NDT) Testing Software market is expanding because of factors such as increasing adoption of NDT in aerospace industry, high demand for NDT methodology in oil & gas and power industries.
The best structural, material, and strength requirements are set by the aircraft industry. Also, the method is known as non-destructive evaluation (NDE), non-destructive inspection (NDI), and non-destructive examination (NDE). Cracks, surface failure, and structural weakness all carry several concerns, including the possibility of deadly accidents and human casualties. according to a report by an Aviation Consulting Organization, in 2018, there were 0.3 fatal incidents involving large commercial aircraft for every million flights, and this number dropped to 0.18 for every million flights in 2019. These declining incidences indicates the adoption of NDT software in aerospace industry. Thus, rising aerospace industry in the region is fostering market growth. In addition, technological advancements in NDT technique and innovation and integration of artificial intelligence algorithm in software development is creating a lucrative growth to the market. However, high cost of non-destructive (NDT) testing software and lack of skilled & qualified personnel may hamper the market growth.
The key regions considered for the Global Non-destructive (NDT) Testing Software Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to advance aerospace industry, rising research and development industry as well as presence of key market players in the region. Whereas Europe is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising demand from end use industry, geographic expansion of key players.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable