Industry Analysis & Industry Trends
Catching a wave
The industry's growth slowed during the recession, in response to weak downstream demand. Nevertheless, demand for ultrasonic testing equipment remains resilient and will continue to grow. New technologies and products will require industry equipment, spurring demand. Furthermore, the industry's reputation for cost-effective, energy-efficient equipment will support continued growth. However, firms will face growing price pressure, as competition from imports heightens.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
In the 10 years to 2016, industry value added (IVA) for the Ultrasonic Testing Equipment Manufacturing industry is expected to increase at an average annual rate of about 3.4%. In comparison, US GDP is forecast to rise by an average annual rate of 2.0% over this same period. Because of this trend, the industry is estimated to be in a growth phase of its life cycle, driven by frequent technological advancements and high R&D expenditure. Typically, an industry is considered to be in a growth phase of its life cycle when IVA expands at a faster rate than GDP over a 10-year period. In contrast, a mature phase occurs when IVA mirrors GDP growth over the 10-year period, while a decline phase occurs when changes in IVA fall below fluctuations in US GDP... purchase to read more