Insights on the Industrial Radiography Global Market to 2028 - by Technique, End-user Industry and Geography - ResearchAndMarkets.com

The "Global Industrial Radiography Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technique (Film-based Radiography and Digital Radiography); End-User Industry" report has been added to ResearchAndMarkets.com's offering.

The industrial radiography market is expected to reach US$ 993.45 million by 2028 from US$ 532.31 million in 2021; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028.

The overall market has been segmented into four major regions - North America, Europe, Asia Pacific (APAC), Middle East and Africa, and South and Central America. In 2020, North America held the largest share of the market. North America has the world's largest aerospace sector due to the presence of different military and commercial aircraft manufacturers as well as maintenance, repair, and overhaul (MRO) service providers. The sector in North America has thrived due to a positive outlook toward the adoption of new technologies, presence of a competent workforce, existence of favorable economic policies, and high GDP per capita. This is driving the growth of the industrial radiography market in this region. A few of the world's largest aircraft manufacturers, including Airbus, Dassault Aviation, Leonardo, and Thales Group, have manufacturing sites in Europe. The presence of such major players has paved the way for the development of military and civilian planes and helicopters. One of the primary forces driving the industrial radiography market growth in Europe is the presence of several aircraft and helicopter manufacturers in the region.

Innovative active interrogation approaches to identify threats to national security are required to protect a country's airports, borders, and ports. All detection approaches need a source of high-energy particles for inducing specific reactions that serve as major signatures in detecting fissile materials or conventional explosives. The most instant perceived threats and their essential materials comprise conventional explosives, special nuclear materials, mass destruction weapons, chemical agents, and contraband. The radiography technology can be utilized to scan cargo to guarantee that nothing is being smuggled into the country. The use of industrial radiography technology enables users to distinguish between different materials. Also, governments are investing significant amounts in border security by deploying the latest technologies at borders. For instance, the Chinese government plans to construct additional 215 airports by 2035. Also, the Indian government plans to build 100 new airports across the country by 2024. Growth in the construction and expansion of airports is anticipated to boost the demand for industrial radiography.

The industrial radiography market is segmented on the bases of technique, end-user industry, and geography. Based on technique, the market is bifurcated into digital radiography and film-based radiography. By end-user industry, the market is segmented into petrochemical and gas, power generation, manufacturing, aerospace, and automotive & transportation.

Reasons to buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global industrial radiography market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global industrial radiography market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

Market Dynamics

Drivers

• Growing Importance of Quality Control
• Increasing Importance for Border Security

Restraints

• Radiation Hazards, Government Regulations, and Lack of High Skilled Labour

Opportunities

• Growing MRO Operation in APAC

Future Trends

• Integration of AI and ML

Companies Mentioned

• 3DX-RAY
• Anritsu
• Comet Group
• Fujifilm Corporation
• GENERAL ELECTRIC
• METTLER TOLEDO
• Nikon Corporation
• NOVO DR LTD
• SHIMADZU CORPORATION
• ZEISS International

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View source version on businesswire.com: https://www.businesswire.com/news/home/20211012005890/en/