Industrial Radiography Testing Market Size (2024 - 2029)

Industrial Radiography Testing Market Analysis

The Industrial Radiography Testing Market size is estimated at USD 0.7 billion in 2024, and is expected to reach USD 1.06 billion by 2029, growing at a CAGR of 8.75% during the forecast period (2024-2029).

Industrial radiography testing is widely used in the manufacturing and maintenance of military and civil aircraft and is considered under the scope of the aerospace segment. Radiography applications in aerospace include the detection of internal defects in thick and complex shapes, in metallic and non-metallic shapes, quality of critical aerospace components, structures, and assemblies.

• The growing size of commercial and military aircraft fleets is anticipated to drive opportunities in the studied market. For instance, according to Boeing, about 17,645 commercial aircraft are anticipated to be delivered in the Asia Pacific region between 2021-2040, followed by North America (9,160) and Europe (8,705), among others.
• The demand for industrial radiography solutions is also anticipated to witness stable growth in the petrochemical and gas and energy & power sector as the global energy demand is growing significantly. 
• For instance, according to the International Energy Agency (IEA), the global electricity demand is anticipated to grow at a much faster pace of about 3% per year over the period (2023-2025) compared with the 2022 growth rate. Furthermore, IEA also estimates that around USD 2.8 trillion will be invested in energy in 2023. Such trends are thus anticipated to drive opportunities in the studied market as industrial radiography testing is widely used in the energy industry to identify infrastructure/equipment defects.
• However, the higher cost of radiography testing equipment and solutions, along with a high risk of radiation, are among the major factor challenging the studied market's growth. Furthermore, a lower awareness, especially across developing markets, also challenges the studied market's growth.

Industrial Radiography Testing Industry Segmentation

Industrial radiographic testing (RT) is a nondestructive examination (NDE) technique that entails using either x-rays or gamma rays to view and inspect the internal structure of a component. It is extremely reproducible, can be utilized on various materials, and the data accumulated can be stored for later analysis. Radiography is an effective and efficient tool that requires minimal surface preparation. Furthermore, many radiographic systems are portable, which allows for usage in the field and at elevated positions.

The industrial radiography testing market is segmented by technology (film radiography, computed radiography, direct radiography, computed tomography), by end-user industry (aerospace & defense, petrochemical & gas, energy & power, construction, automotive & transportation, manufacturing), by geography (North America, Europe, Asia Pacific, Rest of World).

The market sizes and forecasts are provided in terms of value in USD for all the above segments.