Optical Systems and Nondestructive Testing Systems for Inspection and Maintenance

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Mar 15, 2016, 06:35 ET

LONDON, March 15, 2016 /PRNewswire/ -- This BCC Research report is an impact analysis of the optical systems and nondestructive testing systems for inspection and maintenance market. It includes factors currently driving and restraining growth in this market as well as those with an impact on the future of the industry. Forecast provided through 2020.

Use this report to:

Review opportunities within the innovation-driven market for optical systems and nondestructive testing systems for inspection and maintenance.
Analyze metrology solutions within the optical systems and nondestructive testing systems for inspection and maintenance market and the dynamics of each solution.
Identify segments with high growth potential.
Evaluate major stakeholders in the market through a view of the competitive landscape

Highlights

The global markets for optical and nondestructive testing systems for inspection and maintenance totaled $524.8 million in 2014 and is expected to grow from $571.0 million in 2015 to $875.7 million in 2020, a compound annual growth rate (CAGR) of 8.9% from 2015 to 2020.
The automobile segment of the industry had the largest market share, valued at $140.1 million in 2015. The market is expected to reach $213.0 million in 2020, growing at a CAGR of 8.7% from 2015 to 2020.
Construction is the fastest growing industry segment, expected to increase from $15.5 million in 2015 to reach $25.5 million by 2020, a CAGR of 10.5% throughout the forecast period.

STUDY GOALS AND OBJECTIVES

This report is an impact analysis of the optical systems and nondestructive testing systems for inspection and maintenance market. The report includes factors currently driving and restraining growth in this market as well as those with an impact on the future of the industry. The goals and objectives of this report are the following:

To understand opportunities and highlights of the innovation-driven optical systems and nondestructive testing systems for inspection and maintenance market and the major regions and countries of the market.

To analyze metrology solutions of optical systems and nondestructive testing systems for inspection and maintenance and the market dynamics of each solution.

To identify segments with high growth potential and understand future end-use industries within these segments.

To examine key trends and regional factors related to metrology solutions, product types, instruments, industries that shape and influence the overall market for optical systems and nondestructive testing systems for inspection and maintenance.

To examine region-specific developments in the market.

To understand the major stakeholders in the market and the competitive landscape for market leaders.

To analyze growth strategies of key players in the optical systems and non-destructive testing systems for inspection and maintenance market.

To analyze patent data where relevant.

REASONS FOR CONDUCTING THE STUDY

Metrology is one of the most important aspects of manufacturing processes and has applications in each step of the manufacturing process. It is used for designing the conditions for observation of the entire manufacturing process, including constructing and calibrating instruments. In addition, metrology is used to determine whether
captured data is significant. Applications of metrology in manufacturing processes include the characterization of gravitational fields, rock dating and determination of certain physical and chemical constants. The optical systems and non-destructive testing systems used for inspecting and maintaining manufacturing processes improve
operational efficiency of the overall process and improve product quality by checking for deformities in the production line. Rapid industrialization coupled with the move by industrial manufacturing towards better operational efficiency is one of the major factors driving the optical systems and nondestructive testing systems for inspection and maintenance market. As a result, deployment of these systems is expected to increase considerably in the coming years. Due to these factors, BCC Research considers optical systems and nondestructive testing systems for inspection and maintenance an important area for study.

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