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Non-Destructive Testing Market in the Oil and Gas Sector is projected to grow by USD 1.57 Billion from 2024-2028, driven by AI in NDT solutions – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global non-destructive testing market in oil and gas industry size is estimated to grow by USD 1.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  7.3%  during the forecast period. Increased demand for NDT in oil and gas transportation is driving market growth, with a trend towards integration of AI and ML in NDT devices. However, high initial cost of NDT poses a challenge.Key market players include Acuren Corp., Amerapex Corp., Applus Services Technologies SL, Ashtead technology, Baker Hughes Co., Bureau Veritas, Dakota Ultrasonics Corp., Dexon Technology PLC, Eddyfi Technologies, Evident Corp, FORCE Technology, Intertek Group Plc, Magnaflux, Mistras Group Inc., Phoenix Inspection Systems Ltd, SGS SA, Sonatest Ltd, Team Inc, TUV Rheinland AG, Vibrant NDT Services, Videray Technologies Inc., and Zetec Inc..

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Non-Destructive Testing Market In Oil And Gas Industry Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.3%

Market growth 2024-2028

USD 1565.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.8

Regional analysis

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

Performing market contribution

North America at 33%

Key countries

US, China, Saudi Arabia, India, Canada, UK, UAE, Germany, Russia, and Japan

Key companies profiled

Acuren Corp., Amerapex Corp., Applus Services Technologies SL, Ashtead technology, Baker Hughes Co., Bureau Veritas, Dakota Ultrasonics Corp., Dexon Technology PLC, Eddyfi Technologies, Evident Corp, FORCE Technology, Intertek Group Plc, Magnaflux, Mistras Group Inc., Phoenix Inspection Systems Ltd, SGS SA, Sonatest Ltd, Team Inc, TUV Rheinland AG, Vibrant NDT Services, Videray Technologies Inc., and Zetec Inc.

Market Driver

The integration of advanced technologies, including AI, ML, IoT, and AR, is revolutionizing Non-Destructive Testing (NDT) in the oil and gas industry. Automated NDT processes reduce human error and boost operational efficiency, enabling continuous monitoring and real-time data analysis. AI algorithms analyze vast amounts of data to identify patterns and predict potential failures, preventing costly downtimes and enhancing safety. IoT devices collect and transmit data from NDT processes, enabling remote monitoring and control, and providing real-time analysis for immediate decision-making. Augmented reality (AR) provides technicians with real-time information and guidance during inspections, enhancing accuracy and efficiency in complex environments. The adoption of these technologies is expected to set new standards for the industry, improving the accuracy, reliability, and cost-effectiveness of inspections, enabling predictive maintenance, and reducing operational risks. This trend is driving the growth of the Non-Destructive Testing market in the oil and gas sector during the forecast period. 

Non-Destructive Testing (NDT) plays a crucial role in the Oil and Gas industry, ensuring the safety and reliability of fuel rods, infrastructure, and components. Trends in NDT include advanced products like Eddy current testing and industrial CT scanners, which offer improved flaw detection and inspection capabilities. Traditional testing services, such as ultrasonic testing and radiographic testing, remain essential for component testing in various sectors like Aerospace and Defense, Power and Energy, and Automotive and Transportation. Waste management and cost-effectiveness are key concerns. Software and instrumentation, including probes and advanced NDT processes, help optimize NDT operations. Robotics and automated crawlers streamline inspections, reducing labor costs. In industries like healthcare, NDT aids in detecting conditions like osteoarthritis and degenerative disc disease, contributing to medical tourism and healthcare expenses. NDT is vital for system failures prevention in industries like shale oil, where safety and efficiency are paramount. By staying updated on the latest NDT trends and technologies, businesses can enhance their operations and maintain a competitive edge. 

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 Market Challenges

The oil and gas industry relies heavily on Non-Destructive Testing (NDT) to ensure the integrity and safety of their infrastructure. However, the high initial cost of NDT equipment poses a significant challenge. The expense for advanced NDT devices, such as ultrasonic flaw detectors, can be substantial, with a single stainless-steel ultrasonic testing unit costing approximately USD5,665. Concrete NDT testing equipment is more affordable but still represents a considerable investment, with a single unit costing around USD600. The cost of specialized ultrasonic testing equipment for corrosion, erosion, and plate thickness measurement can also add up, with a 25MM ultrasonic testing device costing around USD30. The high cost of NDT equipment necessitates careful budgeting by oil and gas companies. While the benefits of NDT in preventing failures and ensuring safety are clear, the financial burden of acquiring these technologies can be a significant hurdle. Companies must weigh the long-term advantages against the immediate financial outlay, balancing safety and operational efficiency with budgetary constraints. This challenge highlights the need for strategic investment and potential financial support mechanisms to facilitate the adoption of essential NDT technologies in the oil and gas industry. The high cost of NDT equipment will negatively impact the growth of the oil and gas NDT market during the forecast period.Non-destructive testing (NDT) plays a crucial role in ensuring material integrity in various industries, including oil and gas. Fault detection is essential for preventing costly downtime and maintaining safety. Ultrasonic testing using ultrasonic equipment is a popular NDT process, detecting internal defects. Advanced NDT methods like industrial CT scanners and robotics are used for complex component testing. Traditional NDT techniques like radiographic testing and magnetic particle inspection are also used. The aerospace and defense industries have led the way in NDT innovation, with remote inspection technologies and automated crawlers. NDT is also vital in power generation, especially for pipelines and pressure systems, detecting internal and external corrosion. NDT equipment includes portable devices and drones for volumetric inspection. Virtual training programs help ensure high-quality NDT inspections. The oil and gas industry, shale oil, and power industry all benefit from NDT, focusing on material integrity and inspection techniques. NDI, NDE, and NDE are interchangeable terms for NDT. NDT is used in construction, inspection of pressure systems, steam turbines, gas turbines, and nuclear power plants. Visual inspection, liquid penetrant inspection, and ultrasonic inspection are common NDT methods.

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Segment Overview 

This non-destructive testing market in oil and gas industry report extensively covers market segmentation by  

Method 1.1 Traditional methods1.2 Advanced methodsType 2.1 Services2.2 EquipmentGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Traditional methods-  The Non-Destructive Testing (NDT) market in the Oil and Gas industry is significant due to the sector’s reliance on equipment reliability and safety. NDT techniques like ultrasonic testing, radiography, and magnetic particle inspection help identify defects without damaging the equipment. These tests ensure the integrity of pipelines, tanks, and other structures, preventing potential leaks and ensuring operational efficiency. The NDT market continues to grow as the Oil and Gas industry focuses on maintaining safety standards and reducing downtime.

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Research Analysis

Non-destructive testing (NDT) is a critical process used in various industries, including oil and gas, to ensure material integrity and detect faults without damaging the tested components. Ultrasonic testing and radiographic testing are common NDT techniques, utilizing ultrasonic equipment and industrial CT scanners, respectively. Advanced NDT processes, such as robotics and automated crawlers, enhance efficiency and precision in fault detection. NDT is essential in sectors like aerospace and defense for detecting internal and surface defects in components. NDI, NDE, and NDE are interchangeable terms for this non-invasive inspection method. NDT is also crucial in power generation for detecting internal and external corrosion in pipelines and other critical infrastructure. Visual inspection and liquid penetrant inspection are additional techniques used in NDT. Training is vital for NDT professionals to maintain the highest standards and stay updated on the latest technologies and techniques.

Market Research Overview

Non-destructive testing (NDT) is a critical process used in various industries, including oil and gas, to ensure material integrity and detect faults without damaging the tested components or structures. NDT techniques, such as ultrasonic testing, radiographic testing, industrial CT scanners, and advanced NDT processes, are used to identify internal and surface defects in pipelines, pressure systems, steam and gas turbines, nuclear power plants, and other critical infrastructure. Ultrasonic equipment, robotics, automated crawlers, and remote inspection technologies enable efficient and accurate NDT. Traditional NDT methods like liquid penetrant inspection and magnetic particle inspection continue to be used alongside new technologies. NDT is essential in the aerospace sector and defense industry for component testing and inspection of complex structures. The power industry, including shale oil and gas, relies on NDT for internal and external corrosion detection, volumetric inspection, and inspection of instrumentation and probes. Training programs and virtual training are crucial for maintaining expertise in NDT techniques and technologies. Portable NDT devices, drone inspection, and software solutions further expand the capabilities of NDT in various industries.

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 MethodsTypeServicesEquipmentGeographyNorth AmericaEuropeAPACMiddle 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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Maritime Launch Services and Isar Aerospace Extend Deadline to Finalize Statement of Work and Programmatic Milestones

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HALIFAX, NS and MUNICH, Sept. 1, 2026 /CNW/ — Maritime Launch Services Inc. (CBOE: MAXQ) (OTCQB: MAXQF) and Isar Aerospace have agreed to extend the deadline to provide additional time to complete the statement of work and certain programmatic milestones contemplated under their previously-announced facilities usage agreement for Spaceport Nova Scotia. The deadline was extended from September 1, 2026, to September 15, 2026.

The parties continue to make strong progress through an intensive and productive planning process. The extension reflects the time required to complete this work.

“We are very pleased with the progress being made between both parties,” said Stephen Matier, President and CEO of Maritime Launch Services. “Our teams are working through the detailed planning required to advance this important program. The additional 14 days will allow us to complete that work and maintain the strong momentum we have established together.”

The extension does not change the other key terms of the facilities usage agreement announced on July 7, 2026. The parties remain focused on advancing the development of Isar Aerospace’s dedicated launch complex for its Spectrum launch vehicle at Spaceport Nova Scotia, with first orbital launches targeted for 2028.The agreement supports the development of sovereign orbital launch capability from Canada and expands Isar Aerospace’s launch capability into North America.

“We are making strong progress together with Maritime Launch Services as we advance the detailed planning for our launch operations at Spaceport Nova Scotia,” said Alexandre Dalloneau, Vice President Mission and Launch Operations, Isar Aerospace. “The work between our teams has been intensive and productive, and this additional time will allow us to finalize the remaining details as we move toward execution of the program.”

About Maritime Launch Services 
Maritime Launch Services Inc. (CBOE: MAXQ, OTCQB: MAXQF) is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a dual-use commercial spaceport designed to support both civil and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location.

Spaceport Nova Scotia is Canada’s first commercial orbital launch complex, enabling small and medium launch vehicles to place satellites into low Earth orbit.

For more information, visit: www.maritimelaunch.com

About Isar Aerospace

The European space company Isar Aerospace offers launch services for transporting small and medium-sized satellites and satellite constellations into Earth orbit. The launch vehicles used to transport these satellites are developed, manufactured, and tested almost entirely in-house. Headquartered near Munich, Germany, Isar Aerospace was founded in 2018 and has grown to over 400 employees, working across 5 international locations. Private funding from international investors provides strong backing for the company’s pioneering approach to scale and industrialize launch vehicle production through vertical integration. More information: www.isaraerospace.com

https://x.com/maritimelaunch

https://www.linkedin.com/company/maritimelaunch

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. The forward-looking statements included in this press release include (without limitation) statements regarding the continuing of the term of the facilities usage agreement, continuing negotiations of the parties to the facilities usage agreement and the timing of completion of such negotiations, and anticipated launch timing.

Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Although Maritime Launch has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be factors that cause results not to be as anticipated, estimated or intended. Such forward-looking statements are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Risks and uncertainties that may cause such differences include but are not limited to: risks related to Maritime Launch’s strategy going forward; capital requirements; risks related to interest rates and inflationary pressures on the cost of doing business; geopolitical events and changes, availability of third-party contractors and service providers, and other risks inherent in the industry in which Maritime Launch operates.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE Maritime Launch Services Inc.

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Visa Launches Enhanced A2A Protect Innovations to Help Financial Institutions Stop Fraud Before Money Leaves Accounts

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New unified fraud score is the company’s first combined offering in-market since Visa’s acquisition of Featurespace which delivers real-time A2A risk insightsNew graph-powered, agentic capability helps accelerate complex fraud and risk investigationsA2A Protect has been shown to reduce over 50% more fraud and help reduce over 40% in unnecessary fraud alerts

SINGAPORE, Sept. 2, 2026 /PRNewswire/ — Visa (NYSE: V), a world leader in digital payments, today announced an enhanced version of A2A Protect, delivering real-time risk insights that help banks stop account-to-account fraud before money leaves customer accounts. The expanded solution introduces a new unified fraud score—Visa’s first in-market integration of Featurespace technology—giving financial institutions faster, clearer signals to detect more fraud while reducing unnecessary alerts.

In addition, Visa is developing its complementary fraud prevention capabilities through Visa Graph IQ, a graph-powered, agentic investigation capability that provides deeper investigative insights to help financial institutions uncover fraud networks, identify money mule activity, detect emerging threats, and accelerate fraud and risk investigations.

As account-to-account (A2A) payments accelerate globally, A2A transactions are projected to surpass 5.8 trillion by 2028, a 160% increase from 2024, with Asia Pacific expected to account for more than half of global A2A consumer transactions by 2028[1]. While this growth presents significant opportunities, it also creates new fraud risks. Asia Pacific accounts for an estimated 67% of the world’s USD 1.03 trillion in annual scam losses, with Asia alone recording USD 688.42 billion in scam-related losses in 2024[2]. This growing threat is driving increased regulatory and industry focus on strengthening fraud prevention capabilities and enhancing consumer protection.

A2A Protect leverages advanced AI and sophisticated transfer learning and gives banks immediate access to critical global risk insights on A2A transactions, without waiting months for models to develop intelligence from a bank’s own transaction data, and without having to wait for other banks to join a consortium, delivering results and value from day one. Banks that opt in can incorporate additional network-level signals to enhance detection of emerging threats operating across the ecosystem.

“As account-to-account payments continue to accelerate across Asia Pacific, financial institutions are looking for ways to grow digital payments with confidence while maintaining a seamless experience for consumers and businesses,” said Serene Gay, Head of Value-Added Services, Asia Pacific at Visa. “The latest enhancements to A2A Protect combine Visa’s network intelligence with advanced AI capabilities to help our clients detect fraud earlier, respond faster to emerging threats, and strengthen trust in the digital payments ecosystem.”

For financial institutions that opt into network level intelligence sharing, A2A Protect highlights emerging scam hotspots and coordinated fraud activity – insights that may be difficult for individual financial institutions to detect alone, and that help the wider ecosystem respond faster to new threats. This gives financial institutions an earlier and more complete view of risk, helping to identify scams before authorisation. In fact, Visa A2A Protect has been shown to increase fraud detection by up to 75% in the first six months of deployment.

A2A Protect integrates with financial institutions’ current systems through a single API, reducing implementation time and complexity. Each alert includes a plain language explanation of why a transaction was flagged, helping fraud teams act quickly and confidently without disrupting genuine customers.

For more information on how Visa works to prevent fraud across the ecosystem, visit Visa.com/security.

[1]  Juniper Research, Global Instant Payments Market Report, September 2025

[2] GASA, Asia Scam Report, 2024

About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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Chemonics Australia Expands Public Sector Advisory, Infrastructure, and Development Delivery Capabilities with Acquisitions of 35 South and JID

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The acquisitions strengthen Chemonics Australia’s ability to support governments, development partners, and institutions across Australia and the Indo-Pacific with practical delivery capability from strategy and design through implementation.

CANBERRA, Australia, Sept. 2, 2026 /PRNewswire/ — Chemonics has completed its acquisitions of 35 South Advisors and JID, strengthening its capabilities across public and social sector delivery, international development, infrastructure, and implementation support throughout Australia and the Indo-Pacific. Together, these acquisitions strengthen Chemonics Australia’s ability to help clients tackle complex challenges by combining talented professionals with deep analytical and implementation expertise, advanced technology, and data-driven decision-making tools.

As part of Chemonics, which has been delivering programs for over 50 years, Chemonics Australia launched in 2025 to better support governments, institutions, and development partners across Australia and the Indo-Pacific. The acquisitions of 35 South and JID strengthen that effort by adding complementary expertise in public sector delivery, infrastructure, and program implementation, expanding Chemonics Australia’s capabilities to support partners from planning and design through to delivery.

35 South strengthens Chemonics Australia’s ability to support Commonwealth, State, and Territory agencies. With practical expertise in public policy, program and service delivery, economics, and data insights, the firm has built a reputation for exceptional client service, agility, and practical problem solving. Its experience spans finance, health, social services, central agencies, international development, defence, and other sectors. Its fit-for-purpose consulting, government delivery experience, and tailored client engagement will help agencies turn complex reforms into practical action and measurable results.

JID strengthens Chemonics Australia’s on-the-ground delivery capability. With teams already delivering key programs across the Indo-Pacific region, JID brings proven expertise in social and economic infrastructure, service delivery, disaster response and resilience, and complex program execution. JID has supported Australia’s Department of Foreign Affairs and Trade and other regional partners across Papua New Guinea, Tonga, Solomon Islands, Fiji, and Vanuatu. This includes work leading and managing major infrastructure investments across the Pacific. JID’s end-to-end model combines advisory services, program management, and operational delivery, enabling partners to implement complex programs and strengthen resilience in remote, disaster-affected, and resource-constrained settings.

Chemonics Australia was established to bring Chemonics’ global experience and delivery capability closer to partners across Australia and the Indo-Pacific. Building on that foundation, the acquisitions deepen Chemonics Australia’s expertise, while drawing on Chemonics’ more than 50 years of experience delivering programs in over 160 countries. Together, they expand Chemonics Australia’s ability to support partners including Australia’s Department of Foreign Affairs and Trade and Department of Defence, New Zealand’s Ministry of Foreign Affairs and Trade, the Asian Development Bank, and other government and development institutions across the region.

“I’m very excited to welcome 35 South and JID to the Chemonics family,” said Jamey Butcher, Chair and CEO of Chemonics. “I’ve been incredibly impressed by the work both organisations have done and by the people behind it. Bringing these teams together with Chemonics Australia strengthens what we can offer partners across Australia and the Indo-Pacific and brings expertise and experience that will make our organisation stronger around the world.”

“35 South was created to help governments and not-for-profits design better policies, deliver citizen-centred services, and operate more effectively,” said Scott Alexander, CEO of 35 South. “This next chapter gives our team access to broader capability, expertise and knowledge that Government demands while preserving the close client delivery, relationships, agility, and practical approaches that will help our clients achieve lasting, positive outcomes for Australian communities.”

“JID was established to help partners deliver complex development programs that work in practice,” said Brad Bowman, CEO of JID. “Our strength comes from teams embedded across the region and their ability to manage infrastructure and services in demanding environments. This partnership will give those teams stronger systems and resources to support larger programs, while keeping local knowledge at the centre of delivery.”

Looking ahead, the acquisitions create opportunities to strengthen public sector delivery, infrastructure implementation, and development programming across Australia and the Indo-Pacific. The combined Chemonics Australia organisation will continue to work in partnership with governments, regional institutions, development partners, and communities to support complex reform efforts, manage large investments effectively, and deliver programs that respond to local priorities and contribute to long-term outcomes.

For additional media inquiries and further information, please contact:
Natalie Wisely
Senior Director, Executive Strategy and Communications, Chemonics International
media@chemonics.com

About Chemonics Australia
With a focus on the Indo-Pacific, Chemonics Australia works with partners to offer fit-for-purpose solutions to today’s toughest challenges, combining deep regional insights with a global track record to deliver practical, sustainable impact. Through our regional offices, long-term partnerships, and network of local and international experts, we deliver tailored, results-driven solutions that strengthen systems, build local capacity, and achieve lasting impact for communities.

About 35 South
Founded in 2021, 35 South is a consulting firm recognised for its exceptional client service, data analytics, program delivery, financial and economic modelling and practical problem-solving. The firm supports Australian Government and not-for-profit partners across priority sectors including health, social services, central agencies, defence, and international development.

About JID
Established in 2016, JID specialises in project advisory, program management, and on-the-ground delivery in complex environments. With teams across the region, JID draws on deep local expertise and strong project management discipline to deliver infrastructure and service delivery programs that support sustainable, long-term impact.

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SOURCE Chemonics Australia

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