According to the new market research report "Ultrasonic Testing Market by Type (Time-of- Flight Diffraction, Phased Array, Immersion Testing, Guided-Wave), Equipment (Flaw Detectors, Tube Inspection, Transducers & Probes, Bond testers), Service, Vertical, and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 3.93 Billion by 2022, at a CAGR of 8.3% between 2016 and 2022.

The factors which are driving the growth of market include development of portable phased array ultrasonic testing equipment, need for reliable non-destructive testing technique for fiberglass and carbon fiber composites in manufacturing, growth in ultrasonic testing services market, and government mandates.

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Ultrasonic flaw detectors accounted for a major share of the overall UT market during the forecast period

The ultrasonic flaw detectors are expected to lead the UT market between 2016 and 2022. Flaw detectors are widely used as the depth of penetration is superior to other methods and they provide highly accurate flaw sizing and shape of the equipment to be tested. Moreover, this equipment generates and displays an ultrasonic waveform that is interpreted by a trained operator, often with the aid of analysis software, to locate and categorize flaws in test pieces

Training services expected to grow at the highest CAGR between 2016 and 2022

With the aging infrastructure and the growing rate of new infrastructure development, the demand for skilled NDT technicians is expected to grow in the near future. Appropriate training enables the UT supervisor the ability to detect flaws with a high degree of accuracy and reliability without causing damage to the structures or components.

APAC expected to dominate the UT between 2016 and 2022

Countries in Asia-Pacific are involved in the manufacturing of defense aircraft, which would increase the scope of UT in the defense and aerospace sector. The UT market in Asia-Pacific is expected to grow tremendously owing to the rapid infrastructural development. The market for UT equipment is expected to grow fast, driven primarily by major infrastructure advancements and automation in manufacturing processes in countries such as India and China.

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The major players involved in the ultrasonic testing market include General Electric (U.S.), Olympus Corporation (Japan), Ashtead Technology Ltd. (U.K.), Mistras Group Inc. (U.S.), and TecScan Systems Inc. (Canada), Sonatest Ltd. (U.K.), Amerapex Corporation (U.S.), NDT Systems Inc. (U.S.), Applied Technical Services, Inc. (U.S.), and Sonotron NDT (Israel).