Industry Analysis & Industry Trends
From manufacturing plants and construction sites to nuclear power plants, oil refineries and shipyards, nondestructive testing (NDT) is used for numerous applications across a wide range of industries. NDT services are used to detect flaws, cracks, variations and minute changes in structures and surface finish without damaging the products being tested. Rapidly changing technology and the increasing complexity of products and processes that need testing have boosted demand for industry services. More so, strict government regulation relating to health, safety and the protection of the environment continues to drive industry revenue growth.... purchase to read more
Industry Report - Industry Key Buyers Chapter
IBISWorld estimates that the four largest companies in the industry control about 54.0% of the market in 2013. These companies offer a variety of non-destructive testing (NDT) services with certified personnel that regulators and corporations can rely on. Because such downstream clients have increasingly been looking for one-stop shops for NDT services, industry market share concentration is rising. Larger players are expanding by hiring more certified personnel or acquiring smaller firms, through which they are able to expand their products and services to new markets and work with a larger number of industries.
Furthermore, the largest firms in the industry are most likely to win the most lucrative contracts because of relationships with large industries... purchase to read more