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Non-Destructive Testing and Inspection Market to Grow by USD 5.96 Billion (2024-2028) as Training Initiatives Increase, AI-Powered Market Evolution Report – Technavio

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NEW YORK, Oct. 30, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global non-destructive testing and inspection market size is estimated to grow by USD 5.96 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.1% during the forecast period. Increasing non-destructive testing and inspection training initiatives is driving market growth, with a trend towards rising demand for advanced non-destructive testing and inspection. However, stringent regulations and standards related to non-destructive testing poses a challenge. Key market players include Acuren Corp., Axess Group, Baker Hughes Co., Bureau Veritas, Creaform Inc., Evident Corp, IRC Engineering Services Pvt. Ltd., Mistras Group Inc., MME Group, Nikon Corp., NTS Unitek, OKOndt Group, Previan Technologies Inc., SGS SA, TCR Engineering Services Private Ltd., Trinity NDT WeldSolutions Pvt. Ltd., TWI Ltd., Vertech Group, Vibrant NDT Services, and Zetec Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Method (Traditional methods and Advanced methods), Industry Application (Oil and gas, Manufacturing, Power generation, Construction, and Others), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Acuren Corp., Axess Group, Baker Hughes Co., Bureau Veritas, Creaform Inc., Evident Corp, IRC Engineering Services Pvt. Ltd., Mistras Group Inc., MME Group, Nikon Corp., NTS Unitek, OKOndt Group, Previan Technologies Inc., SGS SA, TCR Engineering Services Private Ltd., Trinity NDT WeldSolutions Pvt. Ltd., TWI Ltd., Vertech Group, Vibrant NDT Services, and Zetec Inc.

Key Market Trends Fueling Growth

The non-destructive testing and inspection market is experiencing a notable trend towards the adoption of advanced technologies. Driven by the need for precise, efficient, and reliable quality control processes, this shift is particularly prominent in the automotive industry. For instance, Volkswagen Group’s implementation of das-Nano technology for measuring car body coating thickness is an example of this trend. Traditional methods have limitations, which are effectively addressed by the Irys system’s non-contact, non-destructive measurement using terahertz waves and proprietary algorithms. The increasing importance of advanced non-destructive testing methods is further underscored by the participation of companies like Vieworks in industry events, such as the 21st World Conference on Non-Destructive Testing. This market trend is fueled by the need to meet stringent quality standards and improve operational efficiency. Industries recognize the value of these solutions in detecting defects, ensuring product integrity, and reducing downtime. The adoption of sophisticated non-destructive testing technologies is expected to continue, with the emergence of AI in non-destructive testing and inspection positively impacting the market. 

Non-Destructive Testing (NDT) and Inspection are essential methods for ensuring material and structural integrity in various industries. NDT techniques like Visual Testing (VT), Eddy-Current Testing (ECT), Ultrasonic Testing (UT), and Radiographic Testing (RT) detect surface and subsurface defects without damaging the test piece. NDT is trending in power generation, aerospace, infrastructure, and renewable energy for safety and quality control. NDT is crucial for turbomachinery, Carbon Fiber-Reinforced Plastic (CFRP), and oil and gas industries to detect internal defects. NDT equipment includes ultrasonic testing devices, radiographic testing equipment, and industrial CT scanners. Virtual training and remote inspection technologies, like portable NDT devices, drone inspection, and volumetric inspection, are gaining popularity for maintenance and repair, inspection services, training services, calibration services, safety detection, and fault detection. Financial barriers are being addressed through energy-efficient NDT techniques and cost-effective portable NDT devices. NDT is vital for ensuring the reliability and safety of critical infrastructure, reducing energy consumption, and ensuring the longevity of assets. 

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Market Challenges

In the global non-destructive testing and inspection market, regulatory compliance is a significant challenge. Various industries, including aerospace, oil and gas, and manufacturing, are subject to specific regulatory bodies enforcing guidelines to minimize risks and enhance operational safety. For instance, the American Society for Nondestructive Testing (ASNT) establishes personnel qualification standards, while the Federal Aviation Administration (FAA) mandates strict compliance with non-destructive testing standards in the aerospace sector. European regulations, such as the Pressure Equipment Directive (PED), require stringent inspection protocols for pressure vessels and piping systems. Failure to adhere to these regulations may result in fines, operational shutdowns, or legal action. Keeping up with evolving regulations necessitates continuous training and protocol updates, such as new standards for radiographic testing and technological advancements. These regulatory requirements pose a substantial challenge to market growth during the forecast period.Non-Destructive Testing (NDT) and Inspection market face several challenges in various industries. Structural health monitoring for identifying internal defects in large infrastructure requires advanced NDT techniques and technologies. Financial barriers limit the adoption of these technologies, especially for small businesses and renewable energy sectors. Turbomachinery and oil & gas industries prioritize NDT for material integrity and safety, while construction relies on NDT for component testing. NDT equipment manufacturers focus on developing portable devices, virtual training, and remote inspection technologies to reduce energy consumption and increase accessibility. Renewable energy and CFRP industries face unique challenges with defect detection in complex geometries and carbon fiber-reinforced plastic. NDT inspection services and training services play a crucial role in ensuring safety and maintenance for industries. Calibration services and safety detection are essential for maintaining the accuracy and reliability of NDT equipment. Ultrasonic testing, radiographic testing, and industrial CT scanners are popular NDT techniques for fault detection. Robotics, automated crawlers, and drone inspection are emerging NDT technologies for volumetric inspection and hard-to-reach areas. Traditional NDT methods continue to be used alongside these advanced techniques for maintaining material integrity and ensuring safety.

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Segment Overview

This non-destructive testing and inspection market report extensively covers market segmentation by

Method 1.1 Traditional methods1.2 Advanced methodsIndustry Application2.1 Oil and gas2.2 Manufacturing2.3 Power generation2.4 Construction2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Traditional methods- The Non-Destructive Testing and Inspection market refers to the industry dedicated to evaluating the quality and integrity of materials and structures without damaging them. This market utilizes various techniques such as ultrasonic testing, radiography, and magnetic particle inspection to identify defects and ensure safety and reliability. Companies in this sector provide services to various industries including aerospace, oil and gas, and manufacturing. Growth in infrastructure development and increasing safety regulations drive market demand.

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Research Analysis

Non-Destructive Testing (NDT) is a critical inspection methodology used to ensure the structural integrity and material integrity of various industries, including aerospace, oil and gas, construction, and power generation. NDT techniques enable the detection of surface and subsurface defects without damaging the tested components. Visual Testing (VT), Eddy-Current Testing (ECT), Ultrasonic Testing (UT), and Radiographic Testing (RT) are common NDT techniques used for fault detection and safety detection. VT relies on visual observation, while ECT uses electromagnetic induction to detect surface and subsurface defects. UT uses high-frequency sound waves to inspect the internal structure of materials, and RT uses ionizing radiation to produce images of the internal structure for defect detection. Advanced NDT processes, such as industrial CT scanners, offer higher resolution and more detailed inspection capabilities. NDT is essential in industries where material integrity is critical, such as aerospace and defense, where safety and quality control are paramount. NDT plays a crucial role in ensuring the reliability and longevity of infrastructure and equipment, making it an indispensable tool for industries worldwide.

Market Research Overview

Non-Destructive Testing (NDT) and Inspection refer to methodologies used to assess the structural integrity of materials and components without causing damage. These techniques are essential for quality control, detecting surface and subsurface defects in various industries. NDT is used extensively in power generation, aerospace, infrastructure, and renewable energy sectors for safety and maintenance. Techniques include Visual Testing (VT), Eddy-Current Testing (ECT), Ultrasonic Testing (UT), Radiographic Testing (RT), and Non-Destructive Examination (NDE). NDT is crucial for material integrity in oil and gas, construction, and turbomachinery. CFRP and other advanced materials pose unique challenges, requiring specialized NDT equipment and techniques. Volumetric inspection, drone inspection, and remote inspection technologies offer new possibilities for NDT, addressing financial barriers and energy consumption concerns. NDT services include inspection, maintenance, repair, training, calibration, and safety detection. Fault detection and robotics are also gaining popularity in NDT. Traditional NDT methods continue to evolve with advances in technology, such as industrial CT scanners and automated crawlers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

MethodTraditional MethodsAdvanced MethodsIndustry ApplicationOil And GasManufacturingPower GenerationConstructionOthersGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Chemours Announces Dates for Third Quarter 2026 Earnings Release and Webcast Conference Call

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WILMINGTON, Del., Oct. 21, 2026 /PRNewswire/ — The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company expects to issue its third quarter 2026 financial results after market on Monday, November 2, 2026.

The Company expects to hold its conference call to discuss its third quarter 2026 financial results at 8:00 a.m. Eastern Standard Time on Tuesday, November 3, 2026. The call is open to the public and can be accessed via the webcast information below. The webcast and materials can be accessed by visiting the “Events and Presentations” section of the Investor Relations section of Chemours’ website at investors.chemours.com.

Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.

Replay: A webcast replay will be available at investors.chemours.com.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 5,700 employees and 28 manufacturing sites and serves approximately 2,400 customers in approximately 110 countries. For more information, visit chemours.com or follow us on LinkedIn. 

CONTACTS:

INVESTORS
Brandon Ontjes
Vice President, Head of Strategy & Investor Relations
+1.302.773.3300 
investor@chemours.com 

NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
media@chemours.com  

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SOURCE The Chemours Company

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AGEDB Announces Preliminary Technical Evaluation of Graph Database and AI Data Platform Opportunities

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VANCOUVER, BC, Oct. 21, 2026 /CNW/ — AGEDB Technology Ltd. (TSXV: AGET) (“AGEDB” or the “Company”) announces that it is evaluating opportunities to re-engage in its historical graph database business area through preliminary architectural design and technical assessment of potential AI data platform applications, following its entry, on September 16, 2026, into a memorandum of understanding (the “MOU”) with a Korea-listed company exploring opportunities to enter the AI sector (the “Korean Company”).

The Company previously disclosed that it had discontinued its graph database management system operations during the year ended April 30, 2025 and was seeking new business opportunities. The Company is now assessing potential opportunities to leverage its existing Apache AGE-related technology and experience. These preliminary evaluations should not be interpreted as a resumption of full-scale development or commercial operations.

Under the MOU, AGEDB and the Korean Company contemplate evaluating an integrated package combining locally installed PostgreSQL and Apache AGE relationship-analysis database technology with an AI agent. The MOU also contemplates a separate “Personal AI Operating System” evaluation track, referred to as “AGE Brain,” for potential use in user-controlled computing environments. The proposed applications remain conceptual and subject to further technical and commercial assessment.

The contemplated preliminary work includes architectural design and technical evaluation of approaches to connecting relational data with graph-based relationships and supporting AI-assisted information retrieval and analysis. The parties may consider proof-of-concept testing and pilot activities, but no timeline or commitment to undertake such activities has been established under the MOU.

The MOU has a one-year term. Except for provisions expressly identified as binding, it is non-binding and does not require either party to complete development, launch or commercialize a product, make an investment, commit personnel, pay development fees, or enter into a definitive commercial agreement. Specific project scope, deliverables, schedules, responsibilities, costs and any commercialization terms remain subject to further discussions and, where applicable, separate written agreements. Each party will bear its own evaluation costs unless otherwise agreed in writing.

The Company’s evaluation remains preliminary. No product launch, commercial revenue or definitive commercialization arrangement has been agreed, and there can be no assurance that the parties will proceed with development, that the proposed platform will be completed or commercialized, or that the Company will obtain the resources required to advance the opportunity.

AGEDB may also explore potential collaborations with AI development companies in Korea and other markets, subject to available resources and further assessment.

AGEDB Technology Ltd.

On behalf of the board of directors,

“Jungsoo Kim”
CEO

About AGEDB Technology Ltd.

AGEDB Technology Ltd. is a technology company listed on the TSX Venture Exchange under the symbol “AGET.” The Company is focused on developing and pursuing opportunities in data intelligence, graph database technology and applied artificial intelligence.

Forward-Looking Information

This news release contains forward-looking information, including statements regarding the Company’s development activities, the proposed AI data platform, potential proof-of-concept and pilot activities, and possible future collaborations and commercialization. Forward-looking information is based on management’s current expectations and assumptions and is subject to risks and uncertainties that could cause actual results to differ materially. The memorandum of understanding is generally non-binding, and there can be no assurance that the parties will proceed with or complete any development, pilot, product launch or commercial arrangement, or that AGEDB will enter into additional collaborations. Readers are cautioned not to place undue reliance on forward-looking information. AGEDB undertakes no obligation to update such information except as required by applicable securities laws.

SOURCE AGEDB Technology Ltd.

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Bose Corporation Acquires Skullcandy, Expanding Its Consumer Audio Portfolio to Reach New Audiences

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Acquisition follows a successful partnership between the two companies and advances Bose’s evolution into a multi-brand products and technology company

FRAMINGHAM, Mass. and PARK CITY, Utah, Oct. 21, 2026 /PRNewswire/ — Bose Corporation, a global leader in audio innovation and research, announced today it has acquired Skullcandy, a lifestyle audio brand known for its bold products that bring together sound, style and performance. Bose and Skullcandy have each spent decades finding new ways to bring people closer to the music they love. Together, they’ll combine Bose’s audio expertise, technology and global reach with Skullcandy’s design, understanding of its consumers and authentic community connections to create new products and experiences and accelerate growth.

The acquisition follows a multi-year partnership that has already brought Sound by Bose technology to Skullcandy earbuds and headphones. The companies have seen firsthand how their strengths can come together to create products consumers love while staying true to what makes Skullcandy special, providing a foundation to accelerate further collaboration and innovation.

With a strong position at the intersection of audio, lifestyle and culture, Skullcandy will remain a separate brand within Bose’s Premium Consumer Audio business. Skullcandy’s deep roots in boardsports, including longstanding relationships with passionate supporters of the culture and its athletes, and authentic connections across music, gaming, fitness and other communities present new ways for Bose to meaningfully connect with consumers where it has less presence today.

“For more than 60 years, Bose has been committed to delivering incredible audio experiences however and wherever people choose to listen. As we work to reach even more people, we’re expanding how we do that, not only through Bose products, but through technology partnerships and a growing portfolio of brands,” said Lila Snyder, Chief Executive Officer of Bose Corporation. “As a privately held company, we have the freedom to make bold, long-term investments in opportunities we believe in, and Skullcandy is a great example of that. They have an established, thriving brand, and together we see tremendous opportunity to create new products and experiences and reach more consumers around the world.”

“We believe this is a win for Skullcandy and our fans,” said Brian Garofalow, Chief Executive Officer of Skullcandy. “Skullcandy was born on a chairlift in Park City, Utah, over 20 years ago, and we’ve always believed great music should be part of the experiences people love. Joining Bose gives us the opportunity to make those experiences even better by bringing more of their audio expertise and technology to our products, and it opens up even more ways to take Skullcandy further.”

Bose plans to invest in Skullcandy’s continued growth, providing greater access to technology, resources, global distribution and commercial relationships while giving the brand the freedom to continue evolving in ways that are authentic to its identity and consumers. Skullcandy will continue to be based in Park City, Utah.

Bose acquired Skullcandy from a fund managed by Mill Road Capital Management LLC, a Connecticut-based private investment firm. Jones Day acted as Bose’s legal counsel. Additional information, including financial and other terms of the transaction, will remain confidential.

About Bose Corporation
Bose Corporation is a global leader in audio innovation, driven by a singular belief: sound has the power to transform the way people connect with the world. For more than 60 years, Bose has combined pioneering research, engineering excellence, and a deep understanding of human perception to create products and technologies that deliver extraordinary experiences. Through its portfolio of iconic brands, including Bose, McIntosh, Sonus faber, and Skullcandy, the company offers premium and luxury audio solutions for the home, on the go, and in the car. Bose also collaborates with leading companies across industries, extending its audio expertise and technologies into new products, platforms, and applications beyond its own brands. 

Guided by a relentless spirit of innovation and a passion for what sound makes possible, Bose continues to advance the science and art of sound while expanding its impact on everyday life. From music and entertainment to communication, wellness, and emerging applications, Bose is creating new ways for people around the world to feel more connected, inspired, and engaged through the power of sound.

About Skullcandy
Founded in 2003 on a chairlift in Park City, Utah, Skullcandy is the original lifestyle audio brand. With deep roots in action sports culture, Skullcandy creates headphones, earbuds, and speakers that deliver powerful sound, bold style, and immersive experiences. Designed to move with you—from the mountains to the streets—Skullcandy gear is built to perform and made to stand out. Learn more at www.Skullcandy.com.

Contact

Joanne Berthaume
Joanne_berthaume@bose.com

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SOURCE Bose Corporation

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