VIDEO BORESCOPES MARKET ANALYSIS

Video Borescopes MarketSize and Trends

Global video borescopes market is estimated to be valued at US$ 745.6 Mn in 2023, and is expected to reach US$ 1,345.9 Mn by 2030, exhibiting a compound annual growth rate (CAGR) of 8.8% from 2023 to 2030.

Global Video Borescopes Market- Trends

• Growth of non-destructive testing applications: Increasing demand and applications of non-destructive testing methods has notable influence on the development of the video borescopes market. Non-destructive testing allows for effective inspection of materials, components and assemblies without causing damage. It detect internal flaws or defects and assess integrity without hampering the future usefulness of the item tested. This led to wider adoption of non-destructive techniques across many industries including aerospace, oil and gas, manufacturing, automotive, and others . for applications like jet engine inspection, pipeline surveys, quality control checks of machinery parts and condition monitoring of critical vehicle components. For example, according to data published by the Federal Aviation Administration (FAA), the aerospace industry conducted over 10 million NDT tests in 2021 to meet stringent quality and safety regulations. According to statistics by the Petroleum Safety Authority Norway, oil companies performed around 30,000 kms of pipeline scans in 2022 to ensure operational safety of natural gas pipelines.
• Integration of Advanced Features: Video borescopes are increasingly being integrated with advanced features to enhance their functionality and usability. Some examples include built-in LED lighting for improved illumination in dark or dimly lit environments, articulated or flexible insertion tubes for better maneuverability, and image and video capture capabilities for documentation and analysis. The integration of these features provides users with enhanced inspection capabilities and a better overall experience.