NEW YORK, May 2, 2016 /PRNewswire/ -- Failure is termed as the loss of functional integrity of a system or a group of system leading to loss of life, economy, or output. Failure Analysis refers to the analysis of possible ways of failure of electrical, electronic and mechanical parts of a system that has undergone a breakdown. Several tests are performed to analyze the occurrence. The analysis is done to ensure product life as well as its quality, prevent product malfunction, achieve process reliability, prevent customer dissatisfaction, and prevent safety or environment hazards. This analysis is done in almost every industry to increase the reliability of the output.
The Failure Analysis Market is segmented into three verticals based on tests, techniques and end user industries. The increase in the use of advanced material like reinforced materials, superalloys, ceramics, polymers, nanomaterials and so on new techniques and tests are being developed so as to analyze complex nature of failure in parts made of aforesaid materials.
The market is also analyzed based on the geographic regions under the verticals: America, Europe, Middle East, APAC and RoW. The largest market of failure analysis is America due to the large number of core industries present in this region. APAC and Middle East are growing market due to the increase in industrial setup and construction in this region. The need for reliability of components used for making complex products with long life cycle is the driving force for this market.
Some of major key players of this market include
RJ Lee Group, Inc.,
Exova Group plc,
MME Group, Inc.,
KnightHawk Engineering, Inc. and so on.
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