The "Industrial Computed Tomography Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Industrial Computed Tomography market was valued at USD 298 million in 2020 and is expected to register a CAGR of 7% over the forecast period 2021 - 2026.
Thermo Fisher Scientific Inc
Comet Group Limited
Key Market Trends
Aerospace Industry to Drive the Industrial Computed Tomography Market
The Aerospace industry integrates some of the most quality critical products ranging from a small electronic sensor or an entire composite helicopter rotor blade, most of the companies have X-ray and CT Systems designed for efficiency and repeatability to ensure equipment functions safely and correctly each time.
Aircraft manufacturers opt for CT equipment that can be used for the inspection of large components such as turbines and piston engines in a single run in order to save time and money. The density and consistency of these superalloys components can be tested and inspected by means of industrial CT equipment. The high sales volume of these machines from such businesses or industries can drive market growth.
Trending is an introduction to x-ray computed tomography for dimensional metrology in aerospace for performing dimensional measurements on industrial parts, providing several advantages and performing non-destructive measurement tasks that are often impossible with any other measurement technologies.
For instance, the inspection of complex and high-value additive manufacturing products with a high density of information and without any need to cut or destroy the components. During the manufacturing of an aircraft, various materials and design concepts undergo the testing procedure through CT. Also, because CT allows for quantitative measures of material density and dimensions, it is possible to build a correct model of the part. By knowing quantitatively the features of a component in the part coordinate system, its suitability for service can be judged.
Europe Holds a Dominant Position in Industrial Computed Tomography Market
The development of the industrial CT market in Europe is encouraged by the intensifying demand from the automotive and aerospace industry, because of the strict safety regulations by several governments and preventive maintenance of industrial equipment. The United Kingdom, Germany, France, and Russia have been identified as one of the foremost markets for Industrial CT market in Europe. The United Kingdom is the chief aerospace industry in Europe, with almost 17% of the worldwide revenues in aerospace, second only to the United States.
The British aerospace and defense industry is vast, with the presence of firms, like BAE Systems, which is one of the world's prominent defense contractors, and McLaren, Rolls Royce, etc. Health and environmental worries by the government is leading to the implementation and execution of initiatives meant at improving the sector's performance at managing radiation protection, leading to stern regulations set by the government. Germany is spending substantially on offshore wind power projects. Industry 4.0 has its roots in Germany, and the businesses investing in digitalization will need a high level of testing labs.
Big volume scan requirements in the aerospace and automotive industry with a detailed 3D view are anticipated to drive the sale of computed tomography in the area. France is a massive investor in nuclear power and the global leader in nuclear energy. The country houses numerous global giants in the energy business, such as GDF Suez, EDF, and Areva. Though, attempts are made to decrease dependence on non-renewable sources of energy might amend the dynamics of the market in the future years.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.7 PESTLE Analysis
5 MARKET SEGMENTATION
5.1.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.1.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia Pacific
5.1.4 Latin America
126.96.36.199 Rest of Latin America
5.1.5 Middle East and Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210507005343/en/
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