North America Industrial Radiography Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technique (Film-Based Radiography and Digital Radiography) and End-User Industry (Manufacturing, Aerospace, Automotive and Transportation, Power Generation, Petrochemical and Gas, and Others)
Market Introduction
The industrial radiography market in North America consists of the US, Canada, and Mexico. North America is inclined toward the adoption of modern technologies across industries owing to supportive government policies and a positive outlook for advanced technologies. North America has the largest aerospace industry in the world owing to the presence of military and commercial aircraft manufactures and MRO service providers. Positive outlook toward the adoption of new technologies coupled with the presence of skilled workforce, favorable economic policies, and high GDP per capita flourish the aerospace industry in the region. A few of the leading aircraft manufacturers operating in the region are Northrop Grumman, Gulfstream Aerospace, Boing, Textron, Bombardier, and Lockheed Martin. These aircraft OEMs have their manufacturing facilities across North America, and each manufacturing facility produces noteworthy volumes of aircraft models. Moreover, MRO contracts secured by StandardAero, Westjet, Collins Aerospace, and ST Engineering coupled with the inclination toward procuring military aircraft and helicopters in North America drive the growth of the industrial radiology market in this region. Further, North America has leveraged the automotive industry. Therefore, the region is one of the most significant passenger and commercial vehicle production and sales nations across the world. In 2018, 2019, and 2020, the production of passenger and commercial vehicles were 17,436,070, 16,783,398, and 13,375,622 units, respectively. Moreover, North America has a presence of major automotive manufacturers, such as Ford Motor Company, General Motors Company, Tesla, BMW, Porsche, Fiat Chrysler Automobiles, Daimler, Toyota, Honda, Nissan, Renault, RAM, VW, and Hyundai. Also, the governments in the region are taking initiatives for the development of the automotive sector. The Department of Energy administered the Advanced Technology Vehicle Manufacturing Loan Program worth US$ 25 billion. The growing automotive industry is driving the industrial radiology market in North America. Moreover, the region is characterized for developing and manufacturing high-quality industrial products. These products undergo numerous quality checks, which is one of the major contributors propelling the demand for industrial radiology across North America. Meanwhile, the region generates the majority of its energy from coal, gas, nuclear, and oil power plants, which is also fuelling the growth of the market in the region.
In North America, the US recorded the largest number of COVID-19 cases, with more than 20 million cases. In addition, California, Texas, Florida, and New York are among the majorly affected areas in the country. The federal government in the country did not impose nationwide lockdown in 2020. However, the governors of a few states decided to impose lockdown in their respective states. The lockdown hindered the operations of various industries, including manufacturing and aerospace. However, essential industries, such as fast-moving consumer goods (FMCG) and pharmaceutical, had to continue their operations. North America dominated the industrial radiography market owing to the presence of the world's largest aerospace sector in the US and the large automotive industry in Mexico, where radiography is widely used. Companies are increasingly focusing on decreasing radiation-related dangers and favoring portable solutions, prompting them to rethink their product line. The impact of the COVID-19 pandemic on the market was not only from the demand side but also from the supply side. Since manufacturing facilities in the region were not operational for months, supply chain was disrupted as well as the procurement of raw material was interrupted. Due to this, OEMs saw prominent challenge in keeping up with the quarterly revenue. Therefore, the COVID-19 pandemic has a negative impact on the industrial radiography market in the major North American countries.
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Market Overview and Dynamics
The industrial radiography market in North America is expected to grow from US$ 209.43 million in 2021 to US$ 342.26 million by 2028; it is estimated to grow at a CAGR of 7.3% from 2021 to 2028. Growing MRO operation; from the past few years, the rising aviation industry has been propelling the demand for aircraft maintenance, repair, and overhaul (MRO) services. A few of the aircraft MRO businesses are Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO), China; MTU Maintenance; and ExecuJet Haite Aviation Services China Co., Ltd. Huge spending on aviation infrastructure, economic growth, and increasing passenger count are among the factors propelling the adoption of aircraft MRO services. Moreover, the increasing number of middle-class travelers, is the main factor contributing to the growth of air travel, which is consequently increasing the need for aircraft MRO services in the region. The radiography technique is one of the most used techniques for inspecting aircraft components as it reduces overall downtime and cost subsequently. MRO companies across the region are engaged in the rapid adoption of radiography systems to ensure efficient and time-saving MRO procedures. With a rising fleet of wide-body and narrow-body aircraft, the airlines are demanding reliable and versatile systems for inspecting aircraft. Thus, it would create lucrative business opportunities for the players in the industrial radiography market in the coming years. This is bolstering the growth of the industrial radiography market.
Key Market Segments
Based on technique, the market is bifurcated into digital radiography and film-based radiography. In 2020, the digital radiography segment held the largest share North America industrial radiography market. By end-user industry, the market is segmented into petrochemical and gas, power generation, manufacturing, aerospace, automotive & transportation, and others. In 2020, the automotive & transportation segment held the largest share North America industrial radiography market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the industrial radiography market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Anritsu, Comet Group, Fujifilm Corporation, GENERAL ELECTRIC, METTLER TOLEDO, Nikon Corporation, SHIMADZU CORPORATION, and ZEISS International among others.
Reasons to buy report
- To understand the North America industrial radiography market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America industrial radiography market
- Efficiently plan M&A and partnership deals in North America industrial radiography market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America industrial radiography market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
NORTH AMERICA INDUSTRIAL RADIOGRAPHY MARKET SEGMENTATION
By Technique
- Film-based Radiography
- Digital Radiography
By End-User Industry
- Manufacturing
- Aerospace
- Automotive and Transportation
- Power Generation
- Petrochemical and Gas
- Others
By Country
- US
- Canada
- Mexico
Company Profiles
- Anritsu
- Comet Group
- Fujifilm Corporation
- GENERAL ELECTRIC
- METTLER TOLEDO
- Nikon Corporation
- SHIMADZU CORPORATION
- ZEISS International
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Industrial Radiography Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Industrial Radiography Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Importance of Quality Control
5.1.2 Increasing Importance for Border Security
5.2 Market Restraints
5.2.1 Radiation Hazards, Government Regulations, and Lack of High Skilled Labour
5.3 Market Opportunities
5.3.1 Growing MRO Operation
5.4 Future Trends
5.4.1 Integration of AI and ML
5.5 Impact Analysis of Drivers and Restraints
6. Industrial Radiography Market – North America Analysis
6.1 Industrial Radiography Market North America Overview
6.2 North America Industrial Radiography Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Industrial Radiography Market Analysis – By Technique
7.1 Overview
7.2 North America Industrial Radiography Market, By Technique (2020 and 2028)
7.3 Film-based Radiography
7.3.1 Overview
7.3.2 Film-based Radiography: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Digital Radiography
7.4.1 Overview
7.4.2 Digital Radiography: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Industrial Radiography Market – By End-User Industry
8.1 Overview
8.2 North America Industrial Radiography Market, by End-User Industry (2020 and 2028)
8.3 Manufacturing
8.3.1 Overview
8.3.2 Manufacturing: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Aerospace
8.4.1 Overview
8.4.2 Aerospace: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Automotive and Transportation
8.5.1 Overview
8.5.2 Automotive and Transportation: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Power Generation
8.6.1 Overview
8.6.2 Power Generation: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Petrochemical and Gas
8.7.1 Overview
8.7.2 Petrochemical and Gas: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Industrial Radiography Market – Country Analysis
9.1 North America Industrial Radiography Market
9.1.1 Overview
9.1.2 North America Industrial Radiography Market Breakdown, by Country
9.1.2.1 US Industrial Radiography Market, Revenue and Forecast to 2028
9.1.2.1.1 US Industrial Radiography Market Breakdown, by Technique
9.1.2.1.2 US Industrial Radiography Market Breakdown, by End-user Industry
9.1.2.2 Canada Industrial Radiography Market, Revenue and Forecast to 2028
9.1.2.2.1 Canada Industrial Radiography Market Breakdown, by Technique
9.1.2.2.2 Canada Industrial Radiography Market Breakdown, by End-user Industry
9.1.2.3 Mexico Industrial Radiography Market, Revenue and Forecast to 2028
9.1.2.3.1 Mexico Industrial Radiography Market Breakdown, by Technique
9.1.2.3.2 Mexico Industrial Radiography Market Breakdown, by End-user Industry
10. Impact of COVID-19 Pandemic on North America Industrial Radiography Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Anritsu
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Comet Group
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Fujifilm Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 GENERAL ELECTRIC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 METTLER TOLEDO
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Nikon Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 SHIMADZU CORPORATION
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 ZEISS International
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Industrial Radiography Market, Revenue and Forecast To 2028 – By Country (US$ Mn)
Table 3. US Industrial Radiography Market, Revenue and Forecast to 2028 – By Technique (US$ Mn)
Table 4. US Industrial Radiography Market, Revenue and Forecast to 2028 – By End-user Industry (US$ Mn)
Table 5. Canada Industrial Radiography Market, Revenue and Forecast to 2028 – By Technique (US$ Mn)
Table 6. Canada Industrial Radiography Market, Revenue and Forecast to 2028 – By End-user Industry (US$ Mn)
Table 7. Mexico Industrial Radiography Market, Revenue and Forecast to 2028 – By Technique (US$ Mn)
Table 8. Mexico Industrial Radiography Market, Revenue and Forecast to 2028 – By End-user Industry (US$ Mn)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Industrial Radiography Market Segmentation
Figure 2. North America Industrial Radiography Market Segmentation – By Country
Figure 3. North America Industrial Radiography Market Overview
Figure 4. Digital Radiography held the largest market share in 2020
Figure 5. Automotive and Transportation held the largest market share in 2020
Figure 6. US held Largest Market Share in 2020
Figure 7. North America PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America Industrial Radiography Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Industrial Radiography Market Revenue Share, by Technique (2020 and 2028)
Figure 12. Film-based Radiography: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Digital Radiography: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Industrial Radiography Market Revenue Share, by End-User Industry (2020 and 2028)
Figure 15. Manufacturing: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Aerospace: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Automotive and Transportation: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Power Generation: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Petrochemical and Gas: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: North America Industrial Radiography Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Industrial Radiography Market, Revenue and Forecast to 2028 (US$ Mn)
Figure 22. North America Industrial Radiography Market Breakdown, by Country, 2020 & 2028 (%)
Figure 23. US Industrial Radiography Market, Revenue and Forecast, 2018–2028 (US$ Mn)
Figure 24. Canada Industrial Radiography Market, Revenue and Forecast, 2018–2028 (US$ Mn)
Figure 25. Mexico Industrial Radiography Market, Revenue and Forecast, 2018–2028 (US$ Mn)
Figure 26. Impact of COVID-19 Pandemic on Market in North American Countries
- Anritsu
- Comet Group
- Fujifilm Corporation
- GENERAL ELECTRIC
- METTLER TOLEDO
- Nikon Corporation
- SHIMADZU CORPORATION
- ZEISS International
- To understand the North America industrial radiography market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America industrial radiography market
- Efficiently plan M&A and partnership deals in North America industrial radiography market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America industrial radiography market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.