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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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Miami Startup BOB Raises $5.5M To Build An AI-Powered Banking Platform

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The Miami-based company is building the most useful small business finance agent and banking platform in the world, with participation from Codie Sanchez, Mark Pincus,  and others.

MIAMI, Oct. 23, 2026 /PRNewswire/ — BOB AI Holdings Corp. (“BOB”), the AI finance employee for small business, today announced it has raised $5.5 million in seed funding. The round was led by Mischief (founder of Plaid, Zak Perret), with funding from Peter Thiel and participation from Codie Sanchez, Mark Pincus, Karman Ventures, and a group of additional investors and operators. BOB will use the capital to expand its product, grow its team in Miami, and bring a free AI finance agent to more of the small business owners who keep the American economy running.

The seed round brings together investors who share a conviction that small businesses deserve the same caliber finance department g that large companies take for granted. Mischief led the round, and Peter Thiel joined as a backer alongside Codie Sanchez, the investor and operator known for championing Main Street business ownership.

The funding follows BOB’s private beta launch in September 2026 and will support three priorities: deepening the product’s financial capabilities, scaling customer onboarding, and growing BOB’s team in Miami.

BOB is an AI finance employee that works alongside small business owners to handle the annoying but necessary financial work that usually eats their nights and weekends. Owners talk to BOB the way they would talk to a trusted bookkeeper or CFO, over WhatsApp, text message, Slack, Microsoft Teams, email, or the BOB app. BOB keeps the books, sends invoices, accepts payments, holds funds in a deposit account, and helps owners see where their cash is headed so they can make decisions with confidence.

BOB’s long-term goal is to be the most useful banking product in the world, and a banking product specifically built for this new world of AI agents, robots, and drones. But they are getting started by building the most useful and safe financial agent for small business owners. And instead of handing owners another dashboard to learn, BOB just does the work for them and communicates in plain language.

BOB’s wedge has been particularly effective because the company is laser-focused on small business owners who have largely been underserved by the wave of financial technology built over the last five to ten years. Many of those products were designed for the general market or for enterprise finance teams, and they assume the owner has time, training, or staff to run them. BOB starts from the opposite assumption. The owner of a roofing company, a restaurant, or a local services firm should be able to get real financial help without hiring a department to get it.

“Small business owners have been an afterthought for most of the financial technology built over the last decade,” said Adam Wininger, CEO of BOB. “They are running the business, doing the work, and then staying up late trying to make sense of their books. We built BOB to take that work off their plate entirely. Our goal is simple: to be the most useful banking platform in the world, and this funding lets us put our free CFO agent, BOB, in the hands of many more owners.”

“We invest in infrastructure that becomes indispensable, and a financial layer for autonomous agents is one of the clearest examples we’ve seen,” said Dustin Moring, General Partner at Mischief. “BOB is attacking an immense market at the exact moment AI is moving from advising on transactions to executing them. We’re proud to lead this round and back Adam and the team as they build the foundation agent banking will run on.”

About BOB

BOB AI Holdings Corp. is a Miami-based company building BOB, the AI finance employee and banking platform for small business. BOB handles bookkeeping, invoicing, payments, and cash flow for small business owners through the channels they already use, including WhatsApp, text message, Slack, and Microsoft Teams. BOB’s mission is to build the world’s most useful banking product in the world. Learn more at joinbob.ai. Disclaimer: BOB AI Holdings Corp is a financial technology company, not a bank.

Media contact

Joel Strauss – joel@strausscomms.com 

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SOURCE BOB AI Holdings Corp

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Union Home Mortgage unveils AI and automation advancements during 2026 Annual Partner Celebration

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The mortgage lender continues to make major technology investments going into 2027

STRONGSVILLE, Ohio, Oct. 23, 2026 /PRNewswire/ — Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, recently unveiled an array of AI and automation-driven technological achievements during the company’s 2026 Annual Partner Celebration held Oct. 16-17 in Cleveland, Ohio. This world-class event brought over 850 UHM employees, known internally as Partners, together to highlight the lender’s year-to-date business results, set goals to multiply business success, and foster connection between colleagues. Most notably, technology took center stage, highlighting advancements made in 2026 and a sneak peek at what is coming next.

Attendees were given an inside look at the next phase of technology shaping the business, with demonstrations of both newly implemented tools and future-focused prototypes. These innovations, ranging from conversational voice agents for enhanced customer support to the elimination of tedious manual document review, showcased the transformative potential of technology and underscored the lender’s ongoing investment in smarter, more efficient workflows.

“What makes this event so meaningful is the chance to celebrate our Partners and the impact they have on our business and culture,” said Bill Cosgrove, CEO of Union Home Mortgage. “By creating opportunities for open dialogue and idea-sharing, we’re able to strengthen our culture and identify new ways to move our business forward. As we look ahead to 2027, we remain focused on our 3X initiative, empowering our Partners with the resources, technology, and support they need to achieve more while continuing to deliver a world-class experience for our borrowers. Technology will be the key to UHM’s future, and I can’t wait to see what new solutions are developed in time for our next Annual Partner Celebration.”

While this year’s Annual Partner Celebration was heavily focused on technology, the event also featured senior leadership across all departments and business channels taking the stage to share updates on critical areas such as sales performance, servicing, benefits, employee recognition, and more. UHM Partners also took part in a panel discussion and Q&A with CEO Bill Cosgrove and Sr. Vice President of Business Development Al Blank. In addition to those attending in-person, the rest of the mortgage lender’s 2,300 Partners streamed the event virtually across the country. Following the event, attendees were invited to attend a celebratory carnival featuring casino-style games, a golf simulator, Family Feud, a custom t-shirt press, and more – earning raffle tickets to win high-value prizes. The lender also raffled off tickets to the MLB American League Championship Series being played at Progressive Field, as Union Home Mortgage is the Official Mortgage Partner of both teams that played in the series – the Tampa Bay Rays and the Cleveland Guardians.

Throughout the week, Partners also attended individualized leadership summits specific to their department or role within the company, as well as a Hard Stops Summit aimed at examining existing hard stops in the loan process to streamline operational efficiency.

Internal loan officer coaching program Partners Coaching Partners (PCP), which pairs each participating loan officer with a high-performing mentor and an accountability partner at their production level, also held their Fall PCP Impact event on October 14-15. The group aims to equip members with the skills and knowledge to increase productivity, generate leads, finetune the origination process, improve teambuilding, and increase profit margins. Next year, the PCP program will celebrate its twentieth consecutive PCP Impact event, cementing its status as a pillar of Partner development at UHM.

About Union Home Mortgage
Union Home Mortgage Corp. (UHM) is a high-growth, full-service retail, wholesale, and consumer direct independent mortgage banking company with branches across the U.S. in 49 states + D.C. UHM is an in-house loan servicer offering world-class customer service through high touch communication & technology. A privately held family business, with a collaborative culture that stands out in the mortgage industry, UHM Partners (employees) are guided by a Code of Conduct that emphasizes respect, open communication, and accountability. All these principles translate to industry-leading customer retention and satisfaction. Some honors include being a Six-Year USA TODAY Top Workplace and a Twelve-Year Northeast Ohio Top Workplace. Learn more at www.uhm.com.

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SOURCE Union Home Mortgage

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Pew Funds 4 Biomedical Research Partnerships in Latin America

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Scientists will team up on interdisciplinary explorations

WASHINGTON, Oct. 23, 2026 /PRNewswire/ — The Pew Charitable Trusts announced today that four pairs of researchers from Latin America will receive funding to pursue collaborative biomedical research projects.

These eight esteemed scientists, all independent investigators in Latin America, will team up on interdisciplinary explorations that span plant biology, genetics, immunology, and more. Recipients will receive a combined $180,000 per pair—$90,000 annually over two years.

The Partnership Award was created to help advance scientific collaboration and networking among the biomedical research community in Latin America. Recipients include four alumni of Pew’s Latin American Fellows Program in the Biomedical Sciences, which has funded nearly 350 scientists from across the region since 1991. The Partnership awards were made possible by a grant from Biohub.

“Pew is proud to support these exceptional scientists from Argentina, Brazil, and Chile,” said Donna Frisby-Greenwood, Pew’s senior vice president for Philadelphia and scientific advancement. “Their creative ideas and pioneering approaches will undoubtedly lead to important discoveries that advance biomedical research across Latin America and the world.”

Recipients of this year’s Partnership Award are:

Luis F. Larrondo, Ph.D., Pontificia Universidad Católica de Chile, 2004 Pew Latin American Fellow

Gerardo Cárcamo-Oyarce, Ph.D., Pontificia Universidad Católica de Chile

Larrondo and Cárcamo-Oyarce will establish a new, light-based platform for studying the formation of biofilms by the bacterium Pseudomonas aeruginosa.

Priscilla Olsen, Ph.D., Universidade Federal do Rio de Janeiro (UFRJ), 2016 Pew Latin American Fellow

Beatriz Patricio, Ph.D., Universidade Federal do Estado do Rio de Janeiro (UNIRIO)

Olsen and Patricio will develop and test a new strategy to overcome antimicrobial drug resistance.

Paulo José P. L. Teixeira, Ph.D., Universidade de São Paulo, Escola Superior de Agricultura Luiz de Queiroz, 2013 Pew Latin American Fellow

Antonio Camargo, Ph.D., Universidade de São Paulo

Teixeira and Camargo will examine plant immune receptor specificity.

Marcelo Yanovsky, Ph.D., Fundación Instituto Leloir – CONICET, 2000 Pew Latin American Fellow

Esteban Beckwith, Ph.D., Instituto de Investigación en Biomedicina de Buenos Aires – CONICET – Partner Institute of the Max Plank Society

Yanovsky and Beckwith will study how organisms regulate gene expression in response to environmental stress.

Founded in 1948, The Pew Charitable Trusts uses data to make a difference. Pew addresses the challenges of a changing world by illuminating issues, creating common ground, and advancing ambitious projects that lead to tangible progress. Learn more at pew.org.

Press contact: Liz Lowe, 215-575-4812, elowe@pewtrusts.org

https://www.pew.org/en/about/news-room/press-releases-and-statements/2026/10/22/pew-funds-4-biomedical-research-partnerships-in-latin-america

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SOURCE The Pew Charitable Trusts

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