SOURCE: Frost & Sullivan

Frost & Sullivan

March 24, 2011 13:07 ET

Higher Standards of Quality Open Up Opportunities for X-Ray Inspection Systems, Finds Frost & Sullivan

MOUNTAIN VIEW, CA--(Marketwire - March 24, 2011) -  While there is no denying the contributions made by the advancements in technology and emergence of new application areas for x-ray inspection systems, it is the rising standard of quality and safety of critical structural components that is expected to bring in the revenues.

Analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), World X-ray Inspection Systems Market, finds that the market earned revenues of $344.2 million in 2009 and estimates this to reach $450.6 million in 2014.

If you are interested in a virtual brochure on this study, please send an e-mail to Sarah Saatzer, Corporate Communications, at sarah.saatzer@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

Recent industrial disasters such as the oil spill in the Gulf of Mexico have placed the spotlight on the need for stringent quality control programs. Reacting to such incidents, governments across the globe have announced plans to strengthen laws to prevent industrial debacles.

"The aerospace industry, in an effort to fulfill high standards of safety and quality, has traditionally been the first to adopt the latest advances in x-ray technology intended for the field of medicine," says Frost & Sullivan Industry Analyst Vijay Mathew. "Examples of these advances are high volume, safety critical inspection applications, repair and maintenance applications and precision 3D material analysis."

Apart from rising usage in key end-user industries such as aerospace, oil and gas and automotive, new application areas such as food safety inspection hike the demand for x-ray equipment.

Despite the increasing applications and growing need for greater productivity, quality and accuracy of inspection, the global economic downturn has caused end users to scrutinize maintenance and inspection budgets. Although there are numerous advantages offered by digital x-ray, customers' unwillingness to move away from tried and tested techniques such as film-based inspection restrains short-term market growth potential and leads to limited investment in new technologies.

"Although the transition to a filmless future is a continuous and ongoing trend in the x-ray inspection market, film continues to play a crucial role in meeting the nondestructive testing needs of customers," notes Mathew. "Particularly, in such trying economic conditions, companies with lower financial resources are unwilling to make large investments in digital radiographic technology."

To attract higher investments, x-ray inspection vendors have to work closely with standards bodies and customers to understand their specific needs while leveraging advancements in technology to provide easy-to-use solutions.

World X-ray Inspection Systems Market is part of the Test & Measurement Growth Partnership Services program, which also includes research in the following markets: The Future of Industrial X-ray Inspection, World Nondestructive Test (NDT) Equipment Markets, Chinese Mechanical Test Equipment Markets and Embedded Instrumentation: Its Importance and Adoption in the Test & Measurement Marketplace. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

World X-ray Inspection Systems Market
N6ED

Contact Information