Insights from BCC Research

Eye-Opening Growth Expected for Optical Systems & Nondestructive Testing Systems

Posted by Kevin Kinsella on Dec 23, 2015 6:00:00 AM

Metrology is one of the most important aspects in manufacturing and has applications in each step of the manufacturing process. It is used for designing the conditions for observation of the entire 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 nondestructive 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.
 
The semiconductor and electronics, automobile, oil and gas, and aerospace industries are highly dependent on accurate measurements throughout the manufacturing process in order to achieve product quality coupled with mass production. Since 1960, engineering tolerances (i.e., the amount of a dimension is permitted to vary from a specification) have tightened considerably, fueling demand for better systems for the inspection of manufacturing process.
 
Optical systems and nondestructive testing systems provide higher precision and accuracy compared to analog systems. These systems improve operational efficiency and product quality in the mass production process.
 
According to BCC Research’s Optical Systems and Nondestructive Testing Systems for Inspection and Maintenance (PHO022A), the global market for optical systems and nondestructive testing systems for inspection and maintenance should total $571 million and $875.7 million in 2015 and 2020, respectively, reflecting a five-year CAGR of 8.9%.  
 
The auto industry, the largest industry category, had a market share of 24.6% on revenues of $129 million in 2014, followed by the oil and gas industry with revenues of $80.9 million that year. Five-year CAGRs for the construction industry and mining industry are projected to reach 10.5% and 10%, respectively.
 
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.
 
“Manufacturers’ emphasis on product quality is boosting demand for high-quality machine parts and equipment,” says BCC Research photonics analyst Sinha G. Gaurav.  “With trends shifting towards fast, easy and simple solutions, the demand for optical systems and nondestructive testing systems is expected to increase considerably in the future. In addition, increasing demand to capture large volumes of data for 3D modeling and analysis during the initial phase of product development is expected to have a positive impact on the market.”
 
OUTLOOK AND EXPECTATIONS
 
Optical systems and nondestructive testing systems for inspection and maintenance are expected to experience robust growth through 2020. Rising demand for computer-aided design and computer-aided manufacturing (CAD/CAM) and the adoption of international standards are major factors fueling demand for these systems. In addition, a shortage of skilled precision-machine operators is also boosting demand for automated optical systems used for inspection and maintenance on production lines.
 
Manufacturers’ emphasis on product quality is boosting demand for high-quality machine parts and equipment. With trends shifting towards fast, easy and simple solutions, the demand for optical systems and nondestructive testing systems for inspection and maintenance is expected to increase considerably in the future. Moreover, lack of applicability of non-optical systems is also fueling the demand for optical systems. In addition, increasing demand to capture large volumes of data for 3D modeling and analysis during the initial phase of product development is expected to have a positive impact on the optical systems and nondestructive testing systems for inspection and maintenance market.
 
Optical systems are used in applications at various stages of the production process to maintain product quality and operational efficiency. The semiconductor and electronics, automobile, aerospace, oil and gas, and mining industries, among others, are highly dependent on precision instruments. Rapid industrialization and an increasing number of manufacturers are also having a positive impact on the market.
 
Developing countries in the Asia-Pacific and Latin American regions have ample opportunities for growth. With local players striving to match international standards for product quality, demand for optical systems and nondestructive testing systems for inspection and maintenance is expected to increase considerably in the forecast period and experience robust growth in the forecast period.
 

Topics: Photonics