Governmental Safety Regulations Globally Increase Demand for Nondestructive Test Equipment, Finds Frost & Sullivan

Governmental Safety Regulations Globally Increase Demand for Nondestructive Test Equipment, Finds Frost & Sullivan PR Newswire MOUNTAIN VIEW, California, Nov. 13, 2012 -- Tightening of safety regulations along with a push by end-users to extend existing infrastructure lifecycle drives market growth MOUNTAIN VIEW, California, Nov. 13, 2012 /PRNewswire/ -- A wave of highly publicized infrastructure failures such as pipeline explosions and refinery blasts have spurred governments to tighten safety regulations, escalating the need for nondestructive test (NDT) inspection. Moreover, with end-user industries eager to lengthen the lifecycle of existing infrastructure to save time and costs, the global demand for NDT equipment is on the rise, positively impacting this mature market. New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), Analysis of the Global Nondestructive Test Equipment Market, finds that the market earned revenue of over $1.39 billion in 2011 and estimates this to reach $2.03 billion in 2016. The study covers technologies ranging from ultrasonic testing, magnetic and electromagnetic testing, visual inspection, radiography testing, and penetrant testing for various end-user industries, including oil and gas, aerospace, military and defense, automotive and transportation, foundry, and power generation.