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Ultrasonic Testing Market worth $4.60 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Nov. 26, 2024 /PRNewswire/ — The ultrasonic testing market is expected to reach USD 4.60 billion by 2029 from USD 2.92 billion in 2024, at a CAGR of 9.5% during the 2024 – 2029 period according to a new report by MarketsandMarkets™. The major factor driving the ultrasonic testing market growth includes the rising adoption of portable array ultrasonic testing equipment. The rising adoption of PAUT equipment has replaced conventional film radiography in multiple industries. Traditionally, radiography testing uses short-wavelength electromagnetic radiation to penetrate materials, with the transmitted radiation captured either on radiation-sensitive film or sensor arrays. Despite radiography’s effectiveness, significant health risks arise due to radiation exposure. Additionally, the traditional radiography testing process is time-consuming, incurs high operational costs, and necessitates expensive equipment.

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Browse in-depth TOC on “Ultrasonic Testing Market”
229 – Tables
59 – Figures
268 – Pages

Ultrasonic Testing Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 2.92 billion

Estimated Value by 2029

$ 4.60 billion

Growth Rate

Poised to grow at a CAGR of 9.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Types, Equipment, Services, verticals, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Limited availability of skilled technicians

Key Market Opportunities

Growing offshore oil and gas exploration

Key Market Drivers

Growing offshore oil and gas exploration

Bond testers are projected to have the highest CAGR during the forecast period from 2024 to 2029.

Ultrasonic bond testers are an important equipment used in the oil & gas and aerospace industries. The ultrasonic bond tester can verify the integrity of adhesively bonded joints. The demand for reliable testing has increased due to performance and safety requirements in metal-to-metal joints, composite structures, and sandwich constructions. These portable, microprocessor-based instruments operate at low frequencies i.e. 4-400 kHz, facilitating them to penetrate various adhesive layers and identify flaws in complex geometrics.

The time-of-flight diffraction has the 2nd largest market share of the ultrasonic testing market in 2023.

Time-of-flight diffraction (ToFD) ultrasonic testing is a sophisticated multiple mode inspection technique, that relies on the determination of the traveling time of sonic energy over material from one or more probes to another and offers a highly accurate mode of crack detection, including slag and fusion deficiencies which have improved beyond the commonly used ultrasonic methods whereby the entire system of scanning, memory storage, and evaluation in defect height, length, and location are all done by computerised system. This technique assures precise measuring of crack sizes with minimized failure or shutdown possibilities. Major applications involved are weld checking, crack inspection, and pulse-echo inspections.

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Asia Pacific region is projected to have the highest CAGR during the forecast period from 2024 to 2029.

The demand for ultrasonic testing has significantly grown in the Asia Pacific region due to rapid infrastructure growth and rising automotive production. The countries within the Asia Pacific region, i.e., China, Japan, and India, are highly involved in producing defense aircraft that will further expand ultrasonic testing across Asia Pacific defense and aerospace industries. India and China’s automotive industries will likely grow extensively during the forecast period. The ultrasonic testing industry will grow significantly with the increase in vehicle manufacturing in these countries. Large-scale manufacturing automation through the “Make in India” program holds considerable opportunities for ultrasonic testing in the automotive and higher-scale industries.

Key Players

The key players in ultrasonic testing companies are Baker Hughes Company (US), EVIDENT (Japan), Eddyfi (Canada), Sonatest (US), NDT Systems Inc (US), SGS SOCIETE GENERALE DE SURVEILLANCE SA. (Switzerland), Intertek Group plc (UK), MISTRAS Group (US), DEKRA (Germany), Applus+ (Spain), TÜV Rheinland (Germany), Element Materials Technology (UK), Acoustic Control Systems (Germany), Amerapex Corporation (US), Ashtead Technology (Scotland), Acuren (US), Modsonic Instruments Mfg. Co. (P) Ltd. (India), SONOTEC GmbH (Germany), Applied Technical Services (US), Nexxis (Australia), Vertech Group (Australia), Guided Ultrasonics Ltd. (US), IRISNDT (Canada), Nanjing BKN Automation System Co., Ltd. (China), and OKOndt GROUP (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Testing, Inspection, and Certification Market Size, Share & Industry Growth Analysis Report by Service Type, Sourcing Type (In-house, Outsourced), Application (Consumer Goods & Retail, Agriculture & Food, Industrial & Manufacturing, Medical & Life Sciences) and Region – Global Forecast to 2029

NDT and Inspection Market by Technique (Ultrasonic Testing, Visual, Magnetic Particle, Liquid Penetration, Eddy-Current, Radiographic, Acoustic Emission), Service, Method, Vertical, Application and Region – Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Mr. Rohan Salgarkar
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Act Now: ez1095 Software Simplifies ACA Corrections with Built-In XML Import Feature

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ez1095 ACA software includes a powerful XML data import feature included in the e-file version to streamline correction and replacement form filing.

REDMOND, Wash., Apr. 6, 2026 /PRNewswire/ — With ACA compliance deadlines approaching and penalties on the line, Halfpricesoft.com is urging employers and tax professionals to act quickly with the latest 2025 ez1095 software, now equipped with a built-in XML data import feature designed to simplify ACA correction and replacement form processing.

Don’t risk ACA penalties or last-minute filing stress. Get ahead of correction and replacement filing with ez1095. Download the software, leverage the built-in XML import feature, and ensure accurate, compliant ACA submissions, click here to get started now.

Developers at Halfpricesoft.com have enhanced ez1095 ACA (Affordable Care Act) software to include XML import functionality at no additional cost, allowing users to efficiently process corrections with greater speed and accuracy.

“ez1095 2025 software includes an XML data import feature to process correction and replacement forms more quickly and securely,” said Dr. Ge, Founder of Halfpricesoft.com.

This feature significantly reduces manual data entry and helps organizations manage ACA corrections with confidence. Businesses handling only a few corrections can choose to print paper forms with the “Corrected” box checked and submit by mail, while those needing to efile can follow step-by-step guidance here.

ez1095 supports all required ACA forms, including 1095-C, 1094-C, 1095-B, and 1094-B, and is IRS-approved to generate electronic filing documents for both current and prior tax years. By managing ACA filings in-house, organizations gain greater control, improved data security, and reduced processing costs.

The software also eliminates the need for pre-printed forms by allowing users to print both IRS and recipient copies on plain white paper. With robust import capabilities, including spreadsheets, XML files, and prior-year data, ez1095 ensures faster setup and streamlined processing.

Flexible Pricing Options:

$295 – Print & Mail Version

$495 – Federal Efile Version

$695 – State & Federal Efile Version

Each version supports unlimited companies, recipients, and ACA forms at no additional cost. Learn more

Key Features Include:

Built-in XML import for fast ACA correction processing

IRS-approved efile document generation

Support for original, correction, replacement, and test submissions

Print ACA forms (1095/1094 B & C) on plain white paper

Unlimited form processing for multiple companies

PDF generation for recipient distribution

No internet required to run the software

Easy step-by-step interface with built-in help resources

Efile direct, add-on feature available for those with no time or TCC code

Compatibility with Windows 11, 10, and 8

Don’t hesitate! Correct ACA forms today by visiting Halfpricesoft.com. Test drive the ez1095 for up to 30 days at no cost or obligation. Please note: Trial will appear on forms and efile feature is not enabled for test drive.

Halfpricesoft.com is a leading provider of small business software, including payroll, accounting, time tracking, and check printing solutions. Its product lineup includes W2, 1099, and 1095 form software, as well as ezACH direct deposit tools. Trusted by businesses for over two decades, Halfpricesoft.com helps streamline operations and simplify payroll and tax reporting.

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Code & Co. Opens New York Office

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Kirby Montgomery Appointed to Lead Local Team

BERLIN, LONDON and NEW YORK, April 21, 2026 /PRNewswire/ — Code & Co., the global AI & Technology Due Diligence firm, today announces the opening of its New York City office and the appointment of Kirby Montgomery as Head of North America.

The US has long been a core market for the firm, accounting for a significant share of its 800+ engagements to date. Kirby will lead the local expert team, backed by Code & Co.’s practice and proprietary AI and software platform.

An operator-first appointment with a decade of PE-adjacent experience

Kirby brings twenty years of experience scaling software products across fintech, payments, and healthtech. Most recently, he was Head of Product and GM at SAP Taulia, leading the 0-to-1 build of a new payments line. Earlier, as VP of Product Management at C2FO, he helped replatform a supply chain finance product generating over $130M in gross revenue and launched the C2FO API platform. As Director of International Product at TreviPay (then MSTS), he helped scale annual transactions to $5B and expand from 4 to 30 countries, ahead of its acquisition by Corsair Capital in 2020. He also co-founded TheraWe, acquired by Rethink First (a K1 Capital platform).

Code & Co. first met Kirby in 2020 during its Tech DD on MSTS for the Corsair transaction. Over the next six years, he worked alongside the firm in a senior advisory capacity, making a full-time move the obvious next step.

From Our Leadership Team

“We have been serving US clients for years, but having a strong team on the ground, in their timezone, changes what we can deliver. Faster access and the speed to insight that modern deal-making demands, backed by our global team with 800+ deals behind them.”
– Dan Bender, Founding Partner

“Most investors are asking harder questions about AI than ever before and need answers they can act on. That is what drew me to Code & Co. The team has spent a decade building the tools, methodology, and track record to give investors real conviction and real-world action plans. I am here to scale that further, on both the buy-side and sell-side, and everything in between.”
– Kirby Montgomery, Head of North America

What We Do

Code & Co. offers an end-to-end suite of AI & Technology DD services, purpose-built for the pace and demands of modern deal-making.

AI & Tech DD: Fast, actionable, data-driven buy-side assessments covering every major market, strategy, and sector, supporting funds from first look through the entire value creation lifecycle.Sell-side & Vendor DD: Helping sellers get ahead of buyer scrutiny with rigorous exit readiness assessments and vendor DD materials that hold up to sophisticated acquirers.Lightning DD: Rapid pre-qualification delivering a sharp first point of view, driven by document analysis, deep research, and web signal intelligence, before significant time or capital is committed to a process.Cyber & IT DD: Full-spectrum infrastructure, security posture, and IT operational risk review, relevant across virtually every deal type.Embedded Software & Hardware: In-house expertise across embedded systems, hardware-adjacent software, and Industry 4.0 and IIoT environments.AI Future Readiness: Cutting through AI hype to assess whether a company’s strategy, architecture, governance, team, and roadmap are genuinely defensible and built to scale.Portfolio Monitoring & Continuous Diligence: Ongoing technology and AI maturity tracking across portfolio companies, powered by Code & Co.’s proprietary software stack.

About Code & Co.

Code & Co. is a leading AI & Technology DD firm serving private equity and growth investors globally. Founded in 2016, the firm has completed 800+ engagements for 200+ funds across buy-side, sell-side, and vendor mandates. Every team member is an operator with hands-on experience in technology, product, and AI. www.codeandco.com

Full press release: https://www.codeandco.com/media/code-co-opens-new-york-office

For inquiries: hello@codeandco.com

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Fastmarkets and Expana form strategic partnership to strengthen forest products market intelligence

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LONDON, April 21, 2026 /PRNewswire/ — Fastmarkets and Expana, global leaders in commodity price reporting and market intelligence, today announced a strategic partnership to deliver deeper, more actionable forest products intelligence to customers.

Under the partnership, Fastmarkets’ trusted forest products price benchmarks will be integrated directly into the Expana platform, giving customers streamlined access to essential upstream pricing alongside downstream market insights. The collaboration is designed to support faster, more confident decision‑making across increasingly complex and volatile forest products markets.

By combining Fastmarkets’ authoritative, IOSCO‑compliant price assessments with Expana’s downstream intelligence and analytics, customers can access critical pricing for key forest product categories – including pallets, wood, recovered paper and packaging – within a single workflow.

“As forest products markets become more volatile and margin pressure increases, customers need trusted price benchmarks embedded alongside downstream intelligence,” said Raju Daswani, CEO at Fastmarkets. “Partnering with Expana allows us to deliver that combination in a way that is practical, decision‑ready and directly aligned with how Expana’s agri-food customers operate.”

Fastmarkets delivers some of the most widely relied-upon forest products price assessments globally, spanning pulp, recovered paper, timber, biomass, wood products, pallets, tissue, nonwovens and graphic paper. These benchmarks provide transparency and confidence to buyers, sellers and traders navigating dynamic market conditions.

“At Expana, we are committed to providing our users with comprehensive, reliable data to support smarter decision-making,” said Julie Harris, CEO at Expana “Fastmarkets’ authoritative forest products price benchmarks are a natural fit for our customers, and this partnership represents a meaningful step forward in expanding the insights available on our platform,” she added.

Expana delivers comprehensive market intelligence and analytics across food, beverage and FMCG supply chains, with deep expertise in packaging materials, industrial inputs and cost modeling. The platform’s advanced analytics and forecasting tools help customers understand cross-commodity relationships and supply chain impacts, enabling more strategic procurement decisions across volatile markets.

The partnership reflects a shared commitment by Fastmarkets and Expana to improving market transparency and equipping customers across the value chain with high‑quality, decision‑critical intelligence.

For more information, contact media@fastmarkets.com or visit www.fastmarkets.com.

ABOUT FASTMARKETS

Fastmarkets is an industry-leading PRA and information provider for the agriculture, forest products, metals, carbon and energy transition markets. Its benchmark prices, analytics, forecasts, and insights are critical to customers seeking to trade, manage risk, and understand complex global markets.

Fastmarkets was founded in 1913, with a heritage dating back to 1865 through several of its acquired brands. Fastmarkets employs more than 700 people worldwide, with offices across Europe, the Americas, and Asia. The company is privately held and backed by Astorg, a leading European private equity firm.

ABOUT EXPANA

Expana is the world’s leading agrifood-focused Price Reporting Agency and global information provider. In markets defined by volatility, opacity and risk, Expana equips businesses with the foresight when to buy or sell, how much, where to source, what to reformulate and how to price. By uniting frequently updated pricing data, predictive forecasts, cost modeling and expert analysis, Expana transforms market data into negotiation power and boardroom-ready intelligence. The result: reduced risk, millions saved in COGS, stronger supply resilience, and faster, more confident growth.

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