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X-Ray Inspection System Market Growth Trends and Competitive Analysis

2024-05-27 04:38:50
Report

The global x-ray inspection system market size was valued at USD 2.27 billion in 2022 and is expected to reach USD 2.37 billion in 2023. The market is projected to reach USD 3.44 billion by 2030, recording a CAGR of 5.4% during the forecast period.

Increasing security concerns due to rising crime rates, such as illegal smuggling, are driving the demand for x-ray inspection systems. Governments are implementing various measures to ensure public safety, which has significantly boosted the adoption of these systems across airports and other public spaces. In addition to security applications, x-ray inspection systems are used for quality control in various industries. They help verify the quality of raw materials and detect minute damages in final products. The expanding use of these instruments across a wide range of industries is expected to further propel the growth of the x-ray inspection system market.

Fortune Business Insights™ highlights these trends and projections in their report titled, "X-Ray Inspection System Market, 2024-2030."

LIST OF KEY COMPANIES PROFILED IN THE REPORT

  • North Star Imaging Inc. (U.S.)
  • Nikon Metrology, Inc. (U.S.)
  • Nordson Corporation (U.S.)
  • YXLON International GmbH (Germany)
  • VJ Group, Inc. (U.S.)
  • Mettler Toledo International Inc. (U.S.)
  • Ametek, Inc. (U.S.)
  • Viscom AG (Germany)
  • ViTrox Corporation Berhad (Malaysia)
  • Test Research, Inc. (Taiwan)

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/x-ray-inspection-system-market-105227

Segments:

Rising Adoption of Digital Imaging Solutions to Carry Out Non-Destructive Testing to Fuel Market Progress

Based on technique, the x-ray inspection system market is classified into film-based imaging and digital imaging. The digital imaging segment is expected to dominate the x-ray inspection system market share as digital x-rays instantly transform the captured image into digital data, which can be viewed within seconds. Moreover, the increasing demand for non-destructive tests from various sectors will further bolster the demand for digital imaging.

Direct Radiography to Witness Robust Adoption due to Innovations in Medical Imaging Technologies

Based on digital imaging, the market is segmented into computed tomography, computed radiography, and direct radiography. The direct radiography segment will dominate the market due to the launch of futuristic scanning technologies in the healthcare sector. Direct radiography does not require intermediate processing steps to receive digital signals, making the scanning process more accurate and easier.

Rising Security Concerns to Augment Demand for Ultra-HD Scanning Technology

Based on scanning technology, the market is classified into HD and ultra-HD. The ultra-HD segment might hold the largest market share due to growing security problems at public places, transit stations, and airport terminals.

Aerospace & Defense Sector to Increase Reliance on 3D Imaging Solutions to Boost National Security

In terms of dimension, the market is classified into 2D and 3D. The 3D segment held the largest market share in 2022 as the aerospace & defense industry is becoming more reliant on 3D imaging machines to enhance public safety.

Non-Destructive Testing to Lead due to High Demand for Advanced Inspection Services

Based on application, the market is divided into PCB & passive electronics inspection, non-destructive testing, foreign contaminants inspection, agricultural, bird & animal imaging & inspection, flaw detection & dimensional inspection, leak detection & weld verification, physical properties estimation, case depth determination, and others. The non-destructive testing segment is expected to dominate the market share due to rising demand for quality inspection services from various industry verticals.

Product Use to Increase in Oil & Gas Sector with Growing Demand for Inspection of Oil & Gas Infrastructure

Based on end-user, the market is into oil & gas, energy & utilities, food processing, healthcare & pharmaceuticals, agricultural, bird & animal imaging & inspection, aerospace & defense, industrial manufacturing, automotive, and others. The oil & gas segment is estimated to dominate the x-ray inspection system market as these inspection systems are being widely used in the oil & gas sector to inspect the level of corrosion and welding issues that are a part of the oil & gas infrastructure.

With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report has encompassed many factors such as research & development capabilities, optimization of operations, quality control, and raw material production. It offers important information on the market forecast, trends, and competitive landscape of the key players. Besides the abovementioned factors, the report encompasses several factors boosting the market’s growth.

Get a Free Sample Research PDF:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/x-ray-inspection-system-market-105227

Drivers and Restraints:

Implementation of Safety Norms to Protect Environment will Boost Market Growth

Governments and regulatory agencies across the world are rolling out a wide range of strict safety regulations to protect public health and the environment. Industry verticals have to comply with quality and safety standards to adhere to the strict norms. x-ray inspection technologies can help industries comply with these regulations by detecting flaws in structures, pipelines, and other machines.

However, shortage of skilled labor force and high machine costs might hamper the x-ray inspection system market growth.

Regional Insights:

North America to Dominate Market Share due to the Presence of Reputed OEMs

North America dominated the global market in 2022 and might maintain its dominance during the forecast period due to the growing base of renowned OEMs and service providers. These OEMs are producing smart x-ray inspection products and solutions to boost their customer base.

Asia Pacific held a significant market share due to the development of advanced infrastructure in key countries. These nations are increasing their investments in infrastructure projects, such as railways, highways, and power plants, which will boost the product demand and fuel the regional market growth.


Competitive Landscape:

Key Players to Enter into Corporate Growth Strategies to Boost Market Presence

The market has a vast presence of key players such as Nikon Metrology, Inc., Nordson Corporation, YXLON International GmbH, and North Star Imaging Inc., among others. These firms engage in various corporate growth strategies, such as acquisitions, mergers, technological innovations, partnerships, and new product launches, to expand their market presence.

Key Industry Development:

April 2022 - Smiths Detection, one of the world’s most renowned threat detection and security screening technology providers, won a contract through its local partner Donggok Precision Co., Ltd. As per the contract, Smiths Detection was expected to deliver a wide range of futuristic baggage screening machines for Terminal 1 of the Incheon International Airport in South Korea.

X-Ray Inspection System Market Growth Trends and Competitive Analysis

1150.6k
2024-05-27 04:38:50

The global x-ray inspection system market size was valued at USD 2.27 billion in 2022 and is expected to reach USD 2.37 billion in 2023. The market is projected to reach USD 3.44 billion by 2030, recording a CAGR of 5.4% during the forecast period.

Increasing security concerns due to rising crime rates, such as illegal smuggling, are driving the demand for x-ray inspection systems. Governments are implementing various measures to ensure public safety, which has significantly boosted the adoption of these systems across airports and other public spaces. In addition to security applications, x-ray inspection systems are used for quality control in various industries. They help verify the quality of raw materials and detect minute damages in final products. The expanding use of these instruments across a wide range of industries is expected to further propel the growth of the x-ray inspection system market.

Fortune Business Insights™ highlights these trends and projections in their report titled, "X-Ray Inspection System Market, 2024-2030."

LIST OF KEY COMPANIES PROFILED IN THE REPORT

  • North Star Imaging Inc. (U.S.)
  • Nikon Metrology, Inc. (U.S.)
  • Nordson Corporation (U.S.)
  • YXLON International GmbH (Germany)
  • VJ Group, Inc. (U.S.)
  • Mettler Toledo International Inc. (U.S.)
  • Ametek, Inc. (U.S.)
  • Viscom AG (Germany)
  • ViTrox Corporation Berhad (Malaysia)
  • Test Research, Inc. (Taiwan)

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/x-ray-inspection-system-market-105227

Segments:

Rising Adoption of Digital Imaging Solutions to Carry Out Non-Destructive Testing to Fuel Market Progress

Based on technique, the x-ray inspection system market is classified into film-based imaging and digital imaging. The digital imaging segment is expected to dominate the x-ray inspection system market share as digital x-rays instantly transform the captured image into digital data, which can be viewed within seconds. Moreover, the increasing demand for non-destructive tests from various sectors will further bolster the demand for digital imaging.

Direct Radiography to Witness Robust Adoption due to Innovations in Medical Imaging Technologies

Based on digital imaging, the market is segmented into computed tomography, computed radiography, and direct radiography. The direct radiography segment will dominate the market due to the launch of futuristic scanning technologies in the healthcare sector. Direct radiography does not require intermediate processing steps to receive digital signals, making the scanning process more accurate and easier.

Rising Security Concerns to Augment Demand for Ultra-HD Scanning Technology

Based on scanning technology, the market is classified into HD and ultra-HD. The ultra-HD segment might hold the largest market share due to growing security problems at public places, transit stations, and airport terminals.

Aerospace & Defense Sector to Increase Reliance on 3D Imaging Solutions to Boost National Security

In terms of dimension, the market is classified into 2D and 3D. The 3D segment held the largest market share in 2022 as the aerospace & defense industry is becoming more reliant on 3D imaging machines to enhance public safety.

Non-Destructive Testing to Lead due to High Demand for Advanced Inspection Services

Based on application, the market is divided into PCB & passive electronics inspection, non-destructive testing, foreign contaminants inspection, agricultural, bird & animal imaging & inspection, flaw detection & dimensional inspection, leak detection & weld verification, physical properties estimation, case depth determination, and others. The non-destructive testing segment is expected to dominate the market share due to rising demand for quality inspection services from various industry verticals.

Product Use to Increase in Oil & Gas Sector with Growing Demand for Inspection of Oil & Gas Infrastructure

Based on end-user, the market is into oil & gas, energy & utilities, food processing, healthcare & pharmaceuticals, agricultural, bird & animal imaging & inspection, aerospace & defense, industrial manufacturing, automotive, and others. The oil & gas segment is estimated to dominate the x-ray inspection system market as these inspection systems are being widely used in the oil & gas sector to inspect the level of corrosion and welding issues that are a part of the oil & gas infrastructure.

With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report has encompassed many factors such as research & development capabilities, optimization of operations, quality control, and raw material production. It offers important information on the market forecast, trends, and competitive landscape of the key players. Besides the abovementioned factors, the report encompasses several factors boosting the market’s growth.

Get a Free Sample Research PDF:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/x-ray-inspection-system-market-105227

Drivers and Restraints:

Implementation of Safety Norms to Protect Environment will Boost Market Growth

Governments and regulatory agencies across the world are rolling out a wide range of strict safety regulations to protect public health and the environment. Industry verticals have to comply with quality and safety standards to adhere to the strict norms. x-ray inspection technologies can help industries comply with these regulations by detecting flaws in structures, pipelines, and other machines.

However, shortage of skilled labor force and high machine costs might hamper the x-ray inspection system market growth.

Regional Insights:

North America to Dominate Market Share due to the Presence of Reputed OEMs

North America dominated the global market in 2022 and might maintain its dominance during the forecast period due to the growing base of renowned OEMs and service providers. These OEMs are producing smart x-ray inspection products and solutions to boost their customer base.

Asia Pacific held a significant market share due to the development of advanced infrastructure in key countries. These nations are increasing their investments in infrastructure projects, such as railways, highways, and power plants, which will boost the product demand and fuel the regional market growth.


Competitive Landscape:

Key Players to Enter into Corporate Growth Strategies to Boost Market Presence

The market has a vast presence of key players such as Nikon Metrology, Inc., Nordson Corporation, YXLON International GmbH, and North Star Imaging Inc., among others. These firms engage in various corporate growth strategies, such as acquisitions, mergers, technological innovations, partnerships, and new product launches, to expand their market presence.

Key Industry Development:

April 2022 - Smiths Detection, one of the world’s most renowned threat detection and security screening technology providers, won a contract through its local partner Donggok Precision Co., Ltd. As per the contract, Smiths Detection was expected to deliver a wide range of futuristic baggage screening machines for Terminal 1 of the Incheon International Airport in South Korea.

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