Table of Content

1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 INCLUSIONS AND EXCLUSIONS 26
1.4 CURRENCY CONSIDERED 27
1.5 UNIT CONSIDERED 27
1.6 LIMITATIONS 27
1.7 STAKEHOLDERS 27
1.8 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY DATA 29
2.1.1.1 Key data from secondary sources 30
2.1.1.2 Key secondary sources 30
2.1.2 PRIMARY DATA 30
2.1.2.1 Key data from primary sources 31
2.1.2.2 Key participants in primary interviews 32
2.1.2.3 Breakdown of primary Interviews 32
2.1.2.4 Key industry insights 33
2.1.3 SECONDARY AND PRIMARY RESEARCH 33
2.2 MARKET SIZE ESTIMATION 34
2.2.1 BOTTOM-UP APPROACH 36
2.2.1.1 Approach to arrive at market size using bottom-up analysis
(Demand side) 36
2.2.2 TOP-DOWN APPROACH 37
2.2.2.1 Approach to arrive at market size using top-down analysis
(Supply Side) 37
2.3 MARKET SHARE ESTIMATION 38
2.4 DATA TRIANGULATION 39
2.5 RISK ASSESSMENT 40
2.5.1 RISK FACTOR ANALYSIS 40
2.6 RESEARCH ASSUMPTIONS 41
2.7 RESEARCH LIMITATIONS 41
3 EXECUTIVE SUMMARY 42
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4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ULTRASONIC TESTING MARKET 48
4.2 ULTRASONIC TESTING MARKET, BY SERVICE 49
4.3 ULTRASONIC TESTING MARKET, BY VERTICAL 49
4.4 ULTRASONIC TESTING MARKET, BY REGION 50
5 MARKET OVERVIEW 51
5.1 INTRODUCTION 51
5.2 MARKET DYNAMICS 51
5.2.1 DRIVERS 52
5.2.1.1 Stringent government regulations and industry standards 52
5.2.1.2 Increasing adoption of ultrasonic testing in healthcare 52
5.2.1.3 Growing adoption of portable phased array ultrasonic testing equipment 53
5.2.1.4 Growing offshore oil and gas exploration 53
5.2.1.5 Rising investments in infrastructure development 53
5.2.2 RESTRAINTS 55
5.2.2.1 Manual ultrasonic testing limitations in early stages of damage detection 55
5.2.2.2 Complex nature of ultrasonic testing technology 55
5.2.3 OPPORTUNITIES 56
5.2.3.1 Growing emphasis on predictive maintenance 56
5.2.3.2 Rising number of renewable energy projects 56
5.2.4 CHALLENGES 57
5.2.4.1 Limited availability of skilled technicians 57
5.2.4.2 High maintenance cost and downtime of equipment 57
5.3 PORTER’S FIVE FORCES ANALYSIS 58
5.3.1 INTENSITY OF COMPETITIVE RIVALRY 60
5.3.2 THREAT OF NEW ENTRANTS 60
5.3.3 THREAT OF SUBSTITUTES 60
5.3.4 BARGAINING POWER OF BUYERS 60
5.3.5 BARGAINING POWER OF SUPPLIERS 61
5.4 VALUE CHAIN ANALYSIS 61
5.4.1 RAW MATERIAL PROVIDERS 62
5.4.2 COMPONENT SUPPLIERS 62
5.4.3 EQUIPMENT DESIGNERS AND MANUFACTURERS 62
5.4.4 SALES EXECUTIVES AND DISTRIBUTORS 63
5.4.5 SERVICE PROVIDERS 63
5.4.6 VERTICALS 63
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 63
5.6 ECOSYSTEM ANALYSIS 64
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5.7 TECHNOLOGY ANALYSIS 67
5.7.1 KEY TECHNOLOGIES 67
5.7.1.1 Full matrix capture (FMC) and total focusing method (TFM) 67
5.7.1.2 Electromagnetic acoustic transducer (EMAT) 67
5.7.2 COMPLEMENTARY TECHNOLOGIES 68
5.7.2.1 Guided wave ultrasonic testing (GWUT) 68
5.7.3 ADJACENT TECHNOLOGIES 68
5.7.3.1 Dynamic interferometer 68
5.8 INVESTMENT AND FUNDING SCENARIO 69
5.9 PRICING ANALYSIS 70
5.9.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY EQUIPMENT 70
5.9.2 AVERAGE SELLING PRICE TREND, BY REGION 71
5.10 CASE STUDY ANALYSIS 71
5.10.1 GUIDED ULTRASONICS LTD. ADDRESSES CORROSION UNDER PIPE SUPPORT IN OIL & GAS INDUSTRY 71
5.10.2 ULTRASONIC INSPECTION OF FLARE STACK USING ROPE ACCESS ENGINEERING BY SUTRO GROUP 72
5.10.3 OPTIMIZING HEAT EXCHANGER WELD INSPECTIONS WITH COBRA PHASED ARRAY ULTRASONIC TESTING (PAUT) SOLUTION BY EVIDENT 72
5.11 PATENT ANALYSIS 73
5.12 TRADE ANALYSIS 75
5.12.1 IMPORT SCENARIO (HS CODE 9031) 75
5.12.2 EXPORT SCENARIO (HS CODE 9031) 76
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
5.13.2 BUYING CRITERIA 78
5.14 TARIFF AND REGULATORY LANDSCAPE 79
5.14.1 TARIFF ANALYSIS 79
5.14.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
5.15 KEY CONFERENCES AND EVENTS, 2024–2025 84
5.16 IMPACT OF GENERATIVE AI/AI ON ULTRASONIC TESTING MARKET 84
5.16.1 INTRODUCTION 84
6 ULTRASONIC TESTING MARKET, BY EQUIPMENT 86
6.1 INTRODUCTION 87
6.2 FLAW DETECTORS 97
6.2.1 ABILITY OF FLAW DETECTORS TO IDENTIFY DISCONTINUITIES TO DRIVE THEIR ADOPTION 97
6.3 THICKNESS GAUGES 98
6.3.1 HIGH PRECISION OF ULTRASONIC THICKNESS GAUGES TO DRIVE THEIR USE IN OIL & GAS INDUSTRY 98
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6.4 TRANSDUCERS & PROBES 100
6.4.1 ROBUST INSPECTION CAPABILITIES OF TRANSDUCERS AND PROBES TO PROPEL THEIR ADOPTION 100
6.5 INDUSTRIAL SCANNERS 101
6.5.1 FOCUS ON ENHANCED QUALITY AND PRECISION IN TESTING RESULTS TO BOOST ADOPTION OF INDUSTRIAL SCANNERS 101
6.6 TUBE INSPECTION SYSTEMS 103
6.6.1 NEED FOR HIGH-PRECISION DETECTION OF CORROSION AND CRACKS TO FUEL ADOPTION OF TUBE INSPECTION SYSTEMS IN POWER SECTOR 103
6.7 BOND TESTERS 104
6.7.1 EFFECTIVENESS OF BOND TESTERS IN VERIFYING INTEGRITY OF ADHESIVELY BONDED JOINTS TO FUEL THEIR ADOPTION IN OIL & GAS AND AEROSPACE INDUSTRIES 104
6.8 IMAGING SYSTEMS 106
6.8.1 IMAGING SYSTEMS ENABLE IDENTIFICATION OF INTERNAL FLAWS WITHOUT CAUSING DAMAGE 106
6.9 OTHERS 107
7 ULTRASONIC TESTING MARKET, BY SERVICE 109
7.1 INTRODUCTION 110
7.2 INSPECTION SERVICES 118
7.2.1 NEED FOR IMPROVED ACCURACY, EFFICIENCY, QUICK INSPECTION TIMES, AND REDUCED COSTS TO DRIVE MARKET 118
7.3 EQUIPMENT RENTAL SERVICES 120
7.3.1 DEMAND FOR COST-EFFECTIVE WAY TO ACCESS SPECIALIZED TESTING TOOLS TO DRIVE MARKET 120
7.4 CALIBRATION SERVICES 121
7.4.1 EMPHASIS ON ENHANCED MEASUREMENT ACCURACY AND REDUCED TESTING EQUIPMENT UNCERTAINTIES TO DRIVE SEGMENTAL GROWTH 121
7.5 TRAINING SERVICES 123
7.5.1 WIDE COVERAGE OF ULTRASONIC TESTING ACROSS INDUSTRIES TO FUEL DEMAND 123
8 ULTRASONIC TESTING MARKET, BY TYPE 125
8.1 INTRODUCTION 126
8.2 PHASED ARRAY 127
8.2.1 NEED FOR ENHANCED ACCURACY AND QUICK AND EFFICIENT INSPECTION TO DRIVE MARKET 127
8.3 TIME-OF-FLIGHT DIFFRACTION 128
8.3.1 OFFERS ACCURATE DETECTION OF CRACKS AND FUSION DEFICIENCIES 128
8.4 IMMERSION TESTING 128
8.4.1 OFFERS ENHANCED DETECTION OF INTERNAL AND SURFACE FLAWS 128
8.5 GUIDED WAVE TESTING 128
8.5.1 LONG-RANGE INSPECTION AND MONITORING CAPABILITIES OF GUIDED WAVE TESTING TO DRIVE MARKET 128
8.6 ACOUSTOGRAPHY 129
8.6.1 SUITABILITY OF ACOUSTOGRAPHY FOR SINGLE-SIDE INSPECTION WITHOUT REQUIRING IMMERSION TANK TO DRIVE MARKET 129
8.7 OTHER TYPES 129
9 ULTRASONIC TESTING MARKET, BY VERTICAL 130
9.1 INTRODUCTION 131
9.2 MANUFACTURING 133
9.2.1 NEED FOR RIGOROUS QUALITY STANDARDS TO ENSURE PRODUCT RELIABILITY AND SAFETY TO BOOST MARKET 133
9.3 OIL & GAS 136
9.3.1 STRINGENT REGULATIONS TO PREVENT LEAKS AND SPILLS TO BOOST ADOPTION OF ULTRASONIC TESTING SERVICES 136
9.4 AEROSPACE 139
9.4.1 EXTENSIVE USE OF COMPOSITE MATERIALS TO FUEL NEED FOR ULTRASONIC TESTING SERVICES 139
9.5 GOVERNMENT & INFRASTRUCTURE 142
9.5.1 EMPHASIS ON MAINTAINING INFRASTRUCTURAL INTEGRITY TO PROPEL DEMAND FOR ULTRASONIC TESTING SERVICES 142
9.6 AUTOMOTIVE 145
9.6.1 RISING DEMAND FOR SAFETY AND QUALITY ASSURANCE TO BOOST GROWTH 145
9.7 POWER GENERATION 148
9.7.1 STRINGENT SAFETY AND REGULATORY REQUIREMENTS
TO ENCOURAGE USE OF ULTRASONIC TESTING SERVICES 148
9.8 MARINE 151
9.8.1 AGING GLOBAL FLEET AND INCREASED MAINTENANCE NEEDS
TO DRIVE MARKET 151
9.9 OTHER VERTICALS 154
10 ULTRASONIC TESTING MARKET, BY REGION 158
10.1 INTRODUCTION 159
10.2 NORTH AMERICA 161
10.2.1 NORTH AMERICA: MACROECONOMIC OUTLOOK 161
10.2.2 US 166
10.2.2.1 Increasing adoption of ultrasonic testing services in automotive and aerospace industries to boost growth 166
10.2.3 CANADA 167
10.2.3.1 Significant growth in aging infrastructure needing inspection and maintenance to boost market 167
10.2.4 MEXICO 167
10.2.4.1 Need for adherence to domestic and international safety standards to propel market 167
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10.3 EUROPE 168
10.3.1 EUROPE: MACROECONOMIC OUTLOOK 168
10.3.2 GERMANY 173
10.3.2.1 Growing automotive and aerospace industries to fuel demand for ultrasonic testing services 173
10.3.3 UK 174
10.3.3.1 Significant growth in aging infrastructure to drive demand for ultrasonic testing services 174
10.3.4 FRANCE 174
10.3.4.1 Growing emphasis on safety and durability of infrastructure to boost market 174
10.3.5 ITALY 175
10.3.5.1 Booming aerospace & defense sector to propel need for advanced ultrasonic testing services 175
10.3.6 REST OF EUROPE 175
10.4 ASIA PACIFIC 176
10.4.1 ASIA PACIFIC: MACROECONOMIC OUTLOOK 176
10.4.2 CHINA 181
10.4.2.1 China’s energy sector uses ultrasonic testing services to maintain safety and operational standards 181
10.4.3 JAPAN 182
10.4.3.1 Need for frequent inspection of bridges, tunnels, and dams for safety and longevity to boost growth 182
10.4.4 INDIA 183
10.4.4.1 Increasing safety regulations and quality control measures across industries to boost demand 183
10.4.5 REST OF ASIA PACIFIC 183
10.5 REST OF THE WORLD (ROW) 184
10.5.1 ROW: MACROECONOMIC OUTLOOK 184
10.5.2 SOUTH AMERICA 188
10.5.2.1 Brazil 189
10.5.2.1.1 Emphasis on preventive maintenance and inspection strategies in industries like manufacturing and construction to drive market 189
10.5.2.2 Rest of South America 189
10.5.3 MIDDLE EAST & AFRICA 190
10.5.3.1 GCC 191
10.5.3.1.1 Focus on necessitating rigorous inspection and maintenance of pipelines, rigs, and refineries to boost demand 191
10.5.3.2 Rest of Middle East & Africa 191
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11 COMPETITIVE LANDSCAPE 192
11.1 OVERVIEW 192
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, MAY 2021–OCTOBER 2024 192
11.3 REVENUE ANALYSIS, 2021–2023 193
11.4 MARKET SHARE ANALYSIS, 2023 194
11.5 COMPANY VALUATION AND FINANCIAL METRICS 197
11.6 PRODUCT/BRAND COMPARISON 198
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 198
11.7.1 STARS 198
11.7.2 EMERGING LEADERS 199
11.7.3 PERVASIVE PLAYERS 199
11.7.4 PARTICIPANTS 199
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 201
11.7.5.1 Company footprint 201
11.7.5.2 Company footprint: Key players, 2023 202
11.7.5.3 Region footprint 203
11.7.5.4 Type footprint 204
11.7.5.5 Equipment footprint 205
11.7.5.6 Service footprint 205
11.7.5.7 Vertical footprint 206
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 207
11.8.1 PROGRESSIVE COMPANIES 207
11.8.2 RESPONSIVE COMPANIES 207
11.8.3 DYNAMIC COMPANIES 207
11.8.4 STARTING BLOCKS 207
11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 209
11.8.5.1 List of startups/SMEs 209
11.8.5.2 Competitive benchmarking of startups/SMEs 210
11.9 COMPETITIVE SCENARIO 211
11.9.1 PRODUCT LAUNCHES 211
11.9.2 DEALS 213
12 COMPANY PROFILES 214
12.1 KEY EQUIPMENT MANUFACTURERS 214
12.1.1 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES) 214
12.1.1.1 Business overview 214
12.1.1.2 Products/Solutions/Services offered 215
12.1.1.3 Recent developments 217
12.1.1.3.1 Product launches 217
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12.1.1.4 MnM view 218
12.1.1.4.1 Key strengths/Right to win 218
12.1.1.4.2 Strategic choices 218
12.1.1.4.3 Weaknesses/Competitive threats 218
12.1.2 EVIDENT 219
12.1.2.1 Business overview 219
12.1.2.2 Products/Solutions/Services offered 219
12.1.2.3 Recent developments 220
12.1.2.3.1 Product launches 220
12.1.2.4 MnM view 221
12.1.2.4.1 Key strengths/Right to win 221
12.1.2.4.2 Strategic choices 221
12.1.2.4.3 Weaknesses/Competitive threats 221
12.1.3 EDDYFI 222
12.1.3.1 Business overview 222
12.1.3.2 Products/Solutions/Services offered 222
12.1.3.3 Recent developments 223
12.1.3.3.1 Product launches 223
12.1.3.3.2 Deals 223
12.1.4 SONATEST 224
12.1.4.1 Business overview 224
12.1.4.2 Products/Solutions/Services offered 224
12.1.5 NDT SYSTEMS INC 226
12.1.5.1 Business overview 226
12.1.5.2 Products/Solutions/Services offered 226
12.2 KEY SERVICE PROVIDERS 229
12.2.1 SGS SOCI?T? G?N?RALE DE SURVEILLANCE SA. 229
12.2.1.1 Business overview 229
12.2.1.2 Products/Solutions/Services offered 230
12.2.1.3 MnM view 232
12.2.1.3.1 Key strengths 232
12.2.1.3.2 Strategic choices 232
12.2.1.3.3 Weaknesses/Competitive threats 232
12.2.2 INTERTEK GROUP PLC 233
12.2.2.1 Business overview 233
12.2.2.2 Products/Solutions/Services offered 234
12.2.2.3 MnM view 235
12.2.2.3.1 Key strengths/Right to win 235
12.2.2.3.2 Strategic choices 235
12.2.2.3.3 Weaknesses/Competitive threats 235
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12.2.3 MISTRAS GROUP 236
12.2.3.1 Business overview 236
12.2.3.2 Products/Solutions/Services offered 237
12.2.3.3 MnM view 238
12.2.3.3.1 Key strengths/Right to win 238
12.2.3.3.2 Strategic choices 238
12.2.3.3.3 Weaknesses/Competitive threats 239
12.2.4 DEKRA 240
12.2.4.1 Business overview 240
12.2.4.2 Products/Solutions/Services offered 240
12.2.4.3 MnM view 241
12.2.4.3.1 Key strengths/Right to win 241
12.2.4.3.2 Strategic choices 241
12.2.4.3.3 Weaknesses/Competitive threats 241
12.2.5 APPLUS+ 242
12.2.5.1 Business overview 242
12.2.5.2 Products/Solutions/Services offered 244
12.2.6 T?V RHEINLAND 245
12.2.6.1 Business overview 245
12.2.6.2 Products/Solutions/Services offered 246
12.2.7 ELEMENT MATERIALS TECHNOLOGY 248
12.2.7.1 Business overview 248
12.2.7.2 Products/Solutions/Services offered 248
12.2.7.3 Recent developments 249
12.2.7.3.1 Deals 249
12.3 OTHER PLAYERS 250
12.3.1 ACOUSTIC CONTROL SYSTEMS 250
12.3.2 AMERAPEX CORPORATION 251
12.3.3 ASHTEAD TECHNOLOGY 252
12.3.4 ACUREN 253
12.3.5 MODSONIC INSTRUMENTS MFG. CO. (P) LTD. 254
12.3.6 SONOTEC GMBH 255
12.3.7 APPLIED TECHNICAL SERVICES 256
12.3.8 NEXXIS 257
12.3.9 VERTECH GROUP 257
12.3.10 GUIDED ULTRASONICS LTD. 258
12.3.11 IRISNDT 259
12.3.12 NANJING BKN AUTOMATION SYSTEM CO., LTD. 259
12.3.13 OKONDT GROUP 260
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13 APPENDIX 261
13.1 INSIGHTS FROM INDUSTRY EXPERTS 261
13.2 DISCUSSION GUIDE 262
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 265
13.4 CUSTOMIZATION OPTIONS 267
13.5 RELATED REPORTS 267
13.6 AUTHOR DETAILS 268



List of Figures

FIGURE 1 MARKET SEGMENTATION 25
FIGURE 2 ULTRASONIC TESTING MARKET: RESEARCH DESIGN 29
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY?APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY KEY PLAYERS IN ULTRASONIC TESTING MARKET 34
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY?APPROACH 2 (SUPPLY SIDE): ILLUSTRATION OF REVENUE ESTIMATION OF KEY PLAYERS IN
ULTRASONIC TESTING MARKET 35
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY?APPROACH 3 (DEMAND SIDE): ULTRASONIC TESTING MARKET BASED ON REGION 35
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 36
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 37
FIGURE 8 DATA TRIANGULATION 39
FIGURE 9 ULTRASONIC TESTING MARKET, 2020–2029 (USD MILLION) 43
FIGURE 10 PHASED ARRAY SEGMENT TO ACCOUNT FOR LARGEST SHARE
DURING FORECAST PERIOD 43
FIGURE 11 FLAW DETECTORS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 44
FIGURE 12 INSPECTION SERVICES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 45
FIGURE 13 POWER GENERATION SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 46
FIGURE 14 ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD 47
FIGURE 15 RAPID INDUSTRIALIZATION AND URBANIZATION TO DRIVE ULTRASONIC
TESTING MARKET 48
FIGURE 16 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE BY 2029 49
FIGURE 17 POWER GENERATION SEGMENT TO LEAD MARKET DURING FORECAST PERIOD 49
FIGURE 18 NORTH AMERICA TO LEAD MARKET DURING FORECAST PERIOD 50
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN ULTRASONIC TESTING MARKET 51
FIGURE 20 IMPACT ANALYSIS: DRIVERS 54
FIGURE 21 IMPACT ANALYSIS: RESTRAINTS 55
FIGURE 22 IMPACT ANALYSIS: OPPORTUNITIES 57
FIGURE 23 IMPACT ANALYSIS: CHALLENGES 58
FIGURE 24 ULTRASONIC TESTING MARKET: PORTER’S FIVE FORCES ANALYSIS 59
FIGURE 25 ULTRASONIC TESTING MARKET: VALUE CHAIN ANALYSIS 62
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 64
FIGURE 27 ULTRASONIC TESTING MARKET ECOSYSTEM 65
FIGURE 28 INVESTMENT AND FUNDING SCENARIO, 2020–2024 69
FIGURE 29 AVERAGE SELLING PRICE TREND OF ULTRASONIC TESTING
EQUIPMENT BY KEY PLAYERS 70
FIGURE 30 AVERAGE SELLING PRICE TREND OF FLAW DETECTORS, BY REGION, 2020–2023 71
FIGURE 31 PATENTS APPLIED AND GRANTED, 2014–2023 73
FIGURE 32 IMPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY 2019–2023 75
FIGURE 33 EXPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY 2019–2023 (USD MILLION) 76
FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS 77
FIGURE 35 KEY BUYING CRITERIA FOR TOP 3 VERTICALS 78
FIGURE 36 IMPACT OF GENERATIVE AI/AI ON ULTRASONIC TESTING MARKET 85
FIGURE 37 TUBE INSPECTION SYSTEMS SEGMENT TO GROW AT HIGHEST RATE DURING FORECAST PERIOD 88
FIGURE 38 INSPECTION SERVICES SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE DURING FORECAST PERIOD 110
FIGURE 39 PHASED ARRAY SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 126
FIGURE 40 POWER GENERATION SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE DURING FORECAST PERIOD 132
FIGURE 41 ULTRASONIC TESTING MARKET, BY REGION 159
FIGURE 42 INDIA TO EXHIBIT HIGHEST GROWTH DURING FORECAST PERIOD 159
FIGURE 43 ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD 160
FIGURE 44 NORTH AMERICA: ULTRASONIC TESTING MARKET SNAPSHOT 162
FIGURE 45 EUROPE: ULTRASONIC TESTING MARKET SNAPSHOT 169
FIGURE 46 ASIA PACIFIC: ULTRASONIC TESTING MARKET SNAPSHOT 177
FIGURE 47 ULTRASONIC TESTING MARKET: REVENUE ANALYSIS OF KEY PLAYERS, 2021–2023 (USD MILLION) 193
FIGURE 48 ULTRASONIC TESTING MARKET SHARE ANALYSIS, 2023 194
FIGURE 49 ULTRASONIC TESTING MARKET: COMPANY VALUATION, 2024 (USD BILLION) 197
FIGURE 50 ULTRASONIC TESTING MARKET: FINANCIAL METRICS, 2024 (USD BILLION) 197
FIGURE 51 ULTRASONIC TESTING MARKET: COMPANY EVALUATION MATRIX
(KEY PLAYERS), 2023 200
FIGURE 52 ULTRASONIC TESTING MARKET: COMPANY FOOTPRINT 201
FIGURE 53 ULTRASONIC TESTING MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 208
FIGURE 54 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES): COMPANY SNAPSHOT 215
FIGURE 55 SGS SOCI?T? G?N?RALE DE SURVEILLANCE SA.: COMPANY SNAPSHOT 230
FIGURE 56 INTERTEK GROUP PLC: COMPANY SNAPSHOT 234
FIGURE 57 MISTRAS GROUP: COMPANY SNAPSHOT 237
FIGURE 58 APPLUS+: COMPANY SNAPSHOT 243
FIGURE 59 T?V RHEINLAND: COMPANY SNAPSHOT 246

List of Tables

TABLE 1 IMPACT OF PORTER’S FIVE FORCES ON ULTRASONIC TESTING MARKET 59
TABLE 2 ULTRASONIC TESTING MARKET: ROLE OF COMPANIES IN ECOSYSTEM 66
TABLE 3 AVERAGE SELLING PRICE TREND OF ULTRASONIC TESTING EQUIPMENT
BY KEY PLAYERS, 2019–2023 (USD) 70
TABLE 4 AVERAGE SELLING PRICE TREND OF FLAW DETECTORS, BY REGION 2020–2023 (USD) 71
TABLE 5 LIST OF MAJOR PATENTS, 2023–2024 74
TABLE 6 IMPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY 2019–2023 (USD MILLION) 76
TABLE 7 EXPORT DATA FOR HS CODE 9031-COMPLIANT PRODUCTS, BY COUNTRY 2019–2023 (USD MILLION) 77
TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 VERTICALS (%) 78
TABLE 9 KEY BUYING CRITERIA FOR TOP 3 VERTICALS 78
TABLE 10 MFN TARIFF FOR HS CODE 9031-COMPLIANT PRODUCTS EXPORTED BY US, 2023 79
TABLE 11 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 79
TABLE 12 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 81
TABLE 13 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 82
TABLE 14 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS 83
TABLE 15 KEY CONFERENCES AND EVENTS, 2024–2025 84
TABLE 16 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION) 87
TABLE 17 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION) 88
TABLE 18 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2020–2023 (THOUSAND UNITS) 89
TABLE 19 ULTRASONIC TESTING MARKET, BY EQUIPMENT, 2024–2029 (THOUSAND UNITS) 89
TABLE 20 EQUIPMENT: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 90
TABLE 21 EQUIPMENT: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 90
TABLE 22 EQUIPMENT: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 91
TABLE 23 EQUIPMENT: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 91
TABLE 24 EQUIPMENT: ULTRASONIC TESTING MARKET FOR MANUFACTURING, BY REGION, 2020–2023 (USD MILLION) 91
TABLE 25 EQUIPMENT: ULTRASONIC TESTING MARKET FOR MANUFACTURING, BY REGION, 2024–2029 (USD MILLION) 92
TABLE 26 EQUIPMENT: ULTRASONIC TESTING MARKET FOR OIL & GAS, BY REGION 2020–2023 (USD MILLION) 92
TABLE 27 EQUIPMENT: ULTRASONIC TESTING MARKET FOR OIL & GAS, BY REGION 2024–2029 (USD MILLION) 92
TABLE 28 EQUIPMENT: ULTRASONIC TESTING MARKET FOR AEROSPACE, BY REGION 2020–2023 (USD MILLION) 93
TABLE 29 EQUIPMENT: ULTRASONIC TESTING MARKET FOR AEROSPACE BY REGION, 2024–2029 (USD MILLION) 93
TABLE 30 EQUIPMENT: ULTRASONIC TESTING MARKET FOR GOVERNMENT & INFRASTRUCTURE, BY REGION, 2020–2023 (USD MILLION) 93
TABLE 31 EQUIPMENT: ULTRASONIC TESTING MARKET FOR GOVERNMENT & INFRASTRUCTURE, BY REGION, 2024–2029 (USD MILLION) 94
TABLE 32 EQUIPMENT: ULTRASONIC TESTING MARKET FOR AUTOMOTIVE, BY REGION, 2020–2023 (USD MILLION) 94
TABLE 33 EQUIPMENT: ULTRASONIC TESTING MARKET FOR AUTOMOTIVE, BY REGION, 2024–2029 (USD MILLION) 94
TABLE 34 EQUIPMENT: ULTRASONIC TESTING MARKET FOR POWER GENERATION BY REGION, 2020–2023 (USD MILLION) 95
TABLE 35 EQUIPMENT: ULTRASONIC TESTING MARKET FOR POWER GENERATION BY REGION, 2024–2029 (USD MILLION) 95
TABLE 36 EQUIPMENT: ULTRASONIC TESTING MARKET FOR MARINE, BY REGION 2020–2023 (USD MILLION) 95
TABLE 37 EQUIPMENT: ULTRASONIC TESTING MARKET FOR MARINE, BY REGION 2024–2029 (USD MILLION) 96
TABLE 38 EQUIPMENT: ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY REGION, 2020–2023 (USD MILLION) 96
TABLE 39 EQUIPMENT: ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY REGION, 2024–2029 (USD MILLION) 96
TABLE 40 FLAW DETECTORS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 97
TABLE 41 FLAW DETECTORS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 98
TABLE 42 THICKNESS GAUGES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 99
TABLE 43 THICKNESS GAUGES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 99
TABLE 44 TRANSDUCERS & PROBES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 100
TABLE 45 TRANSDUCERS & PROBES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 101
TABLE 46 INDUSTRIAL SCANNERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 102
TABLE 47 INDUSTRIAL SCANNERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 102
TABLE 48 TUBE INSPECTION SYSTEMS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 103
TABLE 49 TUBE INSPECTION SYSTEMS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 104
TABLE 50 BOND TESTERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 105
TABLE 51 BOND TESTERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 105
TABLE 52 IMAGING SYSTEMS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 106
TABLE 53 IMAGING SYSTEMS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 107
TABLE 54 OTHERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 108
TABLE 55 OTHERS: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 108
TABLE 56 ULTRASONIC TESTING MARKET, BY SERVICE, 2020–2023 (USD MILLION) 110
TABLE 57 ULTRASONIC TESTING MARKET, BY SERVICE, 2024–2029 (USD MILLION) 111
TABLE 58 SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 111
TABLE 59 SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 112
TABLE 60 SERVICES: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 112
TABLE 61 SERVICES: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 112
TABLE 62 SERVICES: ULTRASONIC TESTING MARKET FOR MANUFACTURING, BY REGION, 2020–2023 (USD MILLION) 113
TABLE 63 SERVICES: ULTRASONIC TESTING MARKET FOR MANUFACTURING, BY REGION, 2024–2029 (USD MILLION) 113
TABLE 64 SERVICES: ULTRASONIC TESTING MARKET FOR OIL & GAS, BY REGION 2020–2023 (USD MILLION) 113
TABLE 65 SERVICES: ULTRASONIC TESTING MARKET FOR OIL & GAS, BY REGION 2024–2029 (USD MILLION) 114
TABLE 66 SERVICES: ULTRASONIC TESTING MARKET FOR AEROSPACE, BY REGION 2020–2023 (USD MILLION) 114
TABLE 67 SERVICES: ULTRASONIC TESTING MARKET FOR AEROSPACE, BY REGION 2024–2029 (USD MILLION) 114
TABLE 68 SERVICES: ULTRASONIC TESTING MARKET FOR GOVERNMENT
& INFRASTRUCTURE, BY REGION, 2020–2023 (USD MILLION) 115
TABLE 69 SERVICES: ULTRASONIC TESTING MARKET FOR GOVERNMENT
& INFRASTRUCTURE, BY REGION, 2024–2029 (USD MILLION) 115
TABLE 70 SERVICES: ULTRASONIC TESTING MARKET FOR AUTOMOTIVE, BY REGION 2020–2023 (USD MILLION) 115
TABLE 71 SERVICES: ULTRASONIC TESTING MARKET FOR AUTOMOTIVE, BY REGION 2024–2029 (USD MILLION) 116
TABLE 72 SERVICES: ULTRASONIC TESTING MARKET FOR POWER GENERATION, BY REGION, 2020–2023 (USD MILLION) 116
TABLE 73 SERVICES: ULTRASONIC TESTING MARKET FOR POWER GENERATION, BY REGION, 2024–2029 (USD MILLION) 116
TABLE 74 SERVICES: ULTRASONIC TESTING MARKET FOR MARINE, BY REGION 2020–2023 (USD MILLION) 117
TABLE 75 SERVICES: ULTRASONIC TESTING MARKET FOR MARINE, BY REGION 2024–2029 (USD MILLION) 117
TABLE 76 SERVICES: ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY REGION, 2020–2023 (USD MILLION) 117
TABLE 77 SERVICES: ULTRASONIC TESTING MARKET FOR OTHER VERTICALS, BY REGION, 2024–2029 (USD MILLION) 118
TABLE 78 INSPECTION SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 119
TABLE 79 INSPECTION SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 119
TABLE 80 EQUIPMENT RENTAL SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 120
TABLE 81 EQUIPMENT RENTAL SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 121
TABLE 82 CALIBRATION SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 122
TABLE 83 CALIBRATION SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 122
TABLE 84 TRAINING SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 123
TABLE 85 TRAINING SERVICES: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 124
TABLE 86 ULTRASONIC TESTING MARKET, BY TYPE, 2020–2023 (USD MILLION) 126
TABLE 87 ULTRASONIC TESTING MARKET, BY TYPE, 2024–2029 (USD MILLION) 127
TABLE 88 ULTRASONIC TESTING MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 131
TABLE 89 ULTRASONIC TESTING MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 132
TABLE 90 MANUFACTURING: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 134
TABLE 91 MANUFACTURING: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 134
TABLE 92 MANUFACTURING: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 135
TABLE 93 MANUFACTURING: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 135
TABLE 94 MANUFACTURING: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 135
TABLE 95 MANUFACTURING: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 136
TABLE 96 OIL & GAS: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 137
TABLE 97 OIL & GAS: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 137
TABLE 98 OIL & GAS: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 138
TABLE 99 OIL & GAS: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 138
TABLE 100 OIL & GAS: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 138
TABLE 101 OIL & GAS: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 139
TABLE 102 AEROSPACE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 140
TABLE 103 AEROSPACE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 140
TABLE 104 AEROSPACE: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 141
TABLE 105 AEROSPACE: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 141
TABLE 106 AEROSPACE: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 141
TABLE 107 AEROSPACE: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 142
TABLE 108 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET BY EQUIPMENT, 2020–2023 (USD MILLION) 143
TABLE 109 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET BY EQUIPMENT, 2024–2029 (USD MILLION) 143
TABLE 110 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET, BY SERVICE, 2020–2023 (USD MILLION) 144
TABLE 111 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET, BY SERVICE, 2024–2029 (USD MILLION) 144
TABLE 112 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET, BY REGION, 2020–2023 (USD MILLION) 144
TABLE 113 GOVERNMENT & INFRASTRUCTURE: ULTRASONIC TESTING MARKET, BY REGION, 2024–2029 (USD MILLION) 145
TABLE 114 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 146
TABLE 115 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 146
TABLE 116 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 147
TABLE 117 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 147
TABLE 118 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 147
TABLE 119 AUTOMOTIVE: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 148
TABLE 120 POWER GENERATION: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 149
TABLE 121 POWER GENERATION: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 149
TABLE 122 POWER GENERATION: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 150
TABLE 123 POWER GENERATION: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 150
TABLE 124 POWER GENERATION: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 150
TABLE 125 POWER GENERATION: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 151
TABLE 126 MARINE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 152
TABLE 127 MARINE: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 152
TABLE 128 MARINE: ULTRASONIC TESTING MARKET, BY SERVICE, 2020–2023 (USD MILLION) 153
TABLE 129 MARINE: ULTRASONIC TESTING MARKET, BY SERVICE, 2024–2029 (USD MILLION) 153
TABLE 130 MARINE: ULTRASONIC TESTING MARKET, BY REGION, 2020–2023 (USD MILLION) 153
TABLE 131 MARINE: ULTRASONIC TESTING MARKET, BY REGION, 2024–2029 (USD MILLION) 154
TABLE 132 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2020–2023 (USD MILLION) 155
TABLE 133 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY EQUIPMENT 2024–2029 (USD MILLION) 155
TABLE 134 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY SERVICE 2020–2023 (USD MILLION) 156
TABLE 135 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY SERVICE 2024–2029 (USD MILLION) 156
TABLE 136 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 156
TABLE 137 OTHER VERTICALS: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 157
TABLE 138 ULTRASONIC TESTING MARKET, BY REGION, 2020–2023 (USD MILLION) 160
TABLE 139 ULTRASONIC TESTING MARKET, BY REGION, 2024–2029 (USD MILLION) 160
TABLE 140 NORTH AMERICA: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 163
TABLE 141 NORTH AMERICA: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 163
TABLE 142 NORTH AMERICA: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2020–2023 (USD MILLION) 164
TABLE 143 NORTH AMERICA: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2024–2029 (USD MILLION) 164
TABLE 144 NORTH AMERICA: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2020–2023 (USD MILLION) 165
TABLE 145 NORTH AMERICA: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL, 2024–2029 (USD MILLION) 165
TABLE 146 NORTH AMERICA: ULTRASONIC TESTING MARKET, BY COUNTRY 2020–2023 (USD MILLION) 166
TABLE 147 NORTH AMERICA: ULTRASONIC TESTING MARKET, BY COUNTRY 2024–2029 (USD MILLION) 166
TABLE 148 EUROPE: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 170
TABLE 149 EUROPE: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 170
TABLE 150 EUROPE: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL 2020–2023 (USD MILLION) 171
TABLE 151 EUROPE: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL 2024–2029 (USD MILLION) 171
TABLE 152 EUROPE: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2020–2023 (USD MILLION) 172
TABLE 153 EUROPE: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2024–2029 (USD MILLION) 172
TABLE 154 EUROPE: ULTRASONIC TESTING MARKET, BY COUNTRY 2020–2023 (USD MILLION) 173
TABLE 155 EUROPE: ULTRASONIC TESTING MARKET, BY COUNTRY 2024–2029 (USD MILLION) 173
TABLE 156 ASIA PACIFIC: ULTRASONIC TESTING MARKET, BY VERTICAL 2020–2023 (USD MILLION) 178
TABLE 157 ASIA PACIFIC: ULTRASONIC TESTING MARKET, BY VERTICAL 2024–2029 (USD MILLION) 178
TABLE 158 ASIA PACIFIC: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2020–2023 (USD MILLION) 179
TABLE 159 ASIA PACIFIC: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL, 2024–2029 (USD MILLION) 179
TABLE 160 ASIA PACIFIC: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2020–2023 (USD MILLION) 180
TABLE 161 ASIA PACIFIC: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2024–2029 (USD MILLION) 180
TABLE 162 ASIA PACIFIC: ULTRASONIC TESTING MARKET, BY COUNTRY 2020–2023 (USD MILLION) 181
TABLE 163 ASIA PACIFIC: ULTRASONIC TESTING MARKET, BY COUNTRY 2024–2029 (USD MILLION) 181
TABLE 164 ROW: ULTRASONIC TESTING MARKET, BY VERTICAL, 2020–2023 (USD MILLION) 185
TABLE 165 ROW: ULTRASONIC TESTING MARKET, BY VERTICAL, 2024–2029 (USD MILLION) 185
TABLE 166 ROW: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL 2020–2023 (USD MILLION) 186
TABLE 167 ROW: ULTRASONIC TESTING MARKET FOR EQUIPMENT, BY VERTICAL 2024–2029 (USD MILLION) 186
TABLE 168 ROW: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2020–2023 (USD MILLION) 187
TABLE 169 ROW: ULTRASONIC TESTING MARKET FOR SERVICES, BY VERTICAL 2024–2029 (USD MILLION) 187
TABLE 170 ROW: ULTRASONIC TESTING MARKET, BY REGION, 2020–2023 (USD MILLION) 188
TABLE 171 ROW: ULTRASONIC TESTING MARKET, BY REGION, 2024–2029 (USD MILLION) 188
TABLE 172 SOUTH AMERICA: ULTRASONIC TESTING MARKET, BY COUNTRY 2020–2023 (USD MILLION) 188
TABLE 173 SOUTH AMERICA: ULTRASONIC TESTING MARKET, BY COUNTRY 2024–2029 (USD MILLION) 189
TABLE 174 MIDDLE EAST & AFRICA: ULTRASONIC TESTING MARKET, BY REGION 2020–2023 (USD MILLION) 190
TABLE 175 MIDDLE EAST & AFRICA: ULTRASONIC TESTING MARKET, BY REGION 2024–2029 (USD MILLION) 190
TABLE 176 ULTRASONIC TESTING MARKET: KEY PLAYER STRATEGIES/RIGHT TO WIN MAY 2021– OCTOBER 2024 192
TABLE 177 ULTRASONIC TESTING MARKET: DEGREE OF COMPETITION 194
TABLE 178 ULTRASONIC TESTING MARKET: COMPANY FOOTPRINT 202
TABLE 179 ULTRASONIC TESTING MARKET: REGION FOOTPRINT 203
TABLE 180 ULTRASONIC TESTING MARKET: TYPE FOOTPRINT 204
TABLE 181 ULTRASONIC TESTING MARKET: EQUIPMENT FOOTPRINT 205
TABLE 182 ULTRASONIC TESTING MARKET: SERVICE FOOTPRINT 205
TABLE 183 ULTRASONIC TESTING MARKET: VERTICAL FOOTPRINT 206
TABLE 184 ULTRASONIC TESTING MARKET: LIST OF KEY STARTUPS/SMES 209
TABLE 185 ULTRASONIC TESTING MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES 210
TABLE 186 ULTRASONIC TESTING MARKET: PRODUCT LAUNCHES, MAY 2021–OCTOBER 2024 211
TABLE 187 ULTRASONIC TESTING MARKET: DEALS, FEBRUARY 2023–SEPTEMBER 2024 213
TABLE 188 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES): COMPANY OVERVIEW 214
TABLE 189 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES): PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
TABLE 190 BAKER HUGHES COMPANY (WAYGATE TECHNOLOGIES): PRODUCT LAUNCHES 217
TABLE 191 EVIDENT: COMPANY OVERVIEW 219
TABLE 192 EVIDENT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 219
TABLE 193 EVIDENT: PRODUCT LAUNCHES 220
TABLE 194 EDDYFI: COMPANY OVERVIEW 222
TABLE 195 EDDYFI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
TABLE 196 EDDYFI: PRODUCT LAUNCHES 223
TABLE 197 EDDYFI: DEALS 223
TABLE 198 SONATEST: COMPANY OVERVIEW 224
TABLE 199 SONATEST: PRODUCTS/SOLUTIONS/SERVICES OFFERED 224
TABLE 200 NDT SYSTEMS INC: COMPANY OVERVIEW 226
TABLE 201 NDT SYSTEMS INC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 226
TABLE 202 SGS SOCI?T? G?N?RALE DE SURVEILLANCE SA.: COMPANY OVERVIEW 229
TABLE 203 SGS SOCI?T? G?N?RALE DE SURVEILLANCE SA.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 230
TABLE 204 INTERTEK GROUP PLC: COMPANY OVERVIEW 233
TABLE 205 INTERTEK GROUP PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 234
TABLE 206 MISTRAS GROUP: COMPANY OVERVIEW 236
TABLE 207 MISTRAS GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED 237
TABLE 208 DEKRA: COMPANY OVERVIEW 240
TABLE 209 DEKRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 240
TABLE 210 APPLUS+: COMPANY OVERVIEW 242
TABLE 211 APPLUS+: PRODUCTS/SOLUTIONS/SERVICES OFFERED 244
TABLE 212 T?V RHEINLAND: COMPANY OVERVIEW 245
TABLE 213 T?V RHEINLAND: PRODUCTS/SOLUTIONS/SERVICES OFFERED 246
TABLE 214 ELEMENT MATERIALS TECHNOLOGY: COMPANY OVERVIEW 248
TABLE 215 ELEMENT MATERIALS TECHNOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 216 ELEMENT MATERIALS TECHNOLOGY: DEALS 249
TABLE 217 ACOUSTIC CONTROL SYSTEMS: COMPANY OVERVIEW 250
TABLE 218 AMERAPEX CORPORATION: COMPANY OVERVIEW 251
TABLE 219 ASHTEAD TECHNOLOGY: COMPANY OVERVIEW 252
TABLE 220 ACUREN: COMPANY OVERVIEW 253
TABLE 221 MODSONIC INSTRUMENTS MFG. CO. (P) LTD.: COMPANY OVERVIEW 254
TABLE 222 SONOTEC GMBH: COMPANY OVERVIEW 255
TABLE 223 APPLIED TECHNICAL SERVICES: COMPANY OVERVIEW 256
TABLE 224 NEXXIS: COMPANY OVERVIEW 257
TABLE 225 VERTECH GROUP: COMPANY OVERVIEW 257
TABLE 226 GUIDED ULTRASONICS LTD.: COMPANY OVERVIEW 258
TABLE 227 IRISNDT: COMPANY OVERVIEW 259
TABLE 228 NANJING BKN AUTOMATION SYSTEM CO., LTD.: COMPANY OVERVIEW 259
TABLE 229 OKONDT GROUP: COMPANY OVERVIEW 260