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 Investment Chapter
Capital expenditure in the Non-Destructive Testing Services industry is relatively high for a service industry, yet low compared to the general economy. The majority of work requires specialized, high-cost equipment to conduct certain types of tests. Furthermore, capital intensity is expected to rise with an expected increase in the mechanization of testing.
Industry employees perform a range of activities, from simple manual tasks and automated experimental procedures to high-tech testing. Because the industry requires a highly skilled labor force wages are high. Labor costs account for about 45.7% of industry revenue. However, depreciation consumes about 3.8%. For every dollar spent on labor, an estimated $0.08 is allocated toward capital... purchase to read more