Global Borescope Market Report and Forecast 2024-2032

Global Borescope Market Outlook

The global borescope market size was approximately USD 804.21 million in 2023. The market is projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of around USD 1246.40 million by 2032.

Key Trends in the Market

A borescope refers to a remote visual inspection tool that is inserted into an object, enabling the operator to see the interior of the structure, engine, casting, or some other manufactured device. It has a miniature camera that is attached to a thin, flexible, semi-rigid, or rigid tube. Borescopes are widely used in various sectors, including power generation, industrial, manufacturing, aviation, and aerospace.

• The growing use of the tool in industrial systems and equipment that need non-destructive testing is aiding the borescope market demand. The critical inspections of machinery and components necessitate the use of borescopes, the absence of which can lead to the disassembly of the parts of a plant. This further leads to a rise in the cost of downtime, labour, and lost productivity.

• The borescope market growth is being driven by increasing innovations and technological advancements. The capture of high-quality images by borescopes is being facilitated by newer features such as memory storage, WiFi and LAN ports. The adoption of rechargeable lithium batteries as the energy source also enables their use for longer periods.

• The importance of weld quality is growing with heightened customer expectations. Customers anticipate products and components to exhibit superior quality and avoid unexpected failures. The use of borescopes for inspecting welds can lower costs by detecting defects at the early stages of production and extending the lifespan of the components by correcting them.

Borescope Market Segmentation

Based on type, the market is segmented into flexible borescopes, video borescopes, endoscopes, semi-rigid borescopes, and rigid borescopes. On the basis of diameter, the market can be bifurcated into 0 mm to 3 mm, 3 mm to 6 mm, 6 mm to 10 mm, and above 10 mm. Based on angle, the market is segregated into 0° to 90°, 90° to 180°, and 180° to 360°.

The various end uses of borescope are healthcare, oil and gas, automotive, chemicals, power generation, and food and beverages, among others. The major regional markets for borescope are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global borescope market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Teledyne FLIR LLC 

• Baker Hughes Company 

• Evident Corporation 

• Honesdom International HK Limited 

• JME Technologies, Inc. 

• Lenox Instrument Co. 

• PCE Holding AG 

• Gradient Lens Corporation 

• MORITEX Corporation 

• Teslong Technology 

• Others

Market Share by Type

As per the borescope market analysis, flexible borescopes are widely used to inspect small diameters and challenging areas. They can be used around corners and tight nooks due to their ease of use and control. Meanwhile, a rigid borescope is employed in applications that need straight-line access to the targeted viewing area, such as the manufacturing sector.

It is also used by companies that carry out repetitive inspections where they can mount the scope to a fixed position such as those specialising in metal casting and cylinder bore inspections. Moreover, video borescopes, also known as videoscopes, contain video cameras that are attached to the end of the probe. Videoscopes capture both images and videos that can be viewed on a monitor or screen.

Market Share by Region

North America is anticipated to hold a significant portion of the global borescope market share in the coming years. Non-destructive testing (NDT) is gaining importance in a wide range of industrial sectors. including civil, aeronautical, and systems engineering in the United States. The non-destructive texting techniques enable the examination of the properties of various kinds of structures without damage. The rising construction and infrastructure sectors of the United States and Canada further contribute to the increasing demand for borescopes in the region.

Competitive Landscape

Evident Corporation is a provider of cutting-edge solutions for use in various applications, including clinical and life science research, quality control and assessment, nondestructive testing (NDT), and precision measurement and analysis. Headquartered in Tokyo, Japan, the company was spun off by Olympus in 2023.

Baker Hughes Company is an energy technology company, based in the United States, that offers solutions for energy and industrial customers globally in more than 120 countries. Through its subsidiary Waygate Technologies, the company offers video borescopes that are tested to military standards for durability in harsh environments.

Honesdom International HK Limited, established in 1988, is a leading producer of non-destructive testing instruments in Hong Kong. The company invests up to 10% of its sales revenue in technological innovation. The company provides borescopes for application in the automobile, aerospace, industrial casting, wind power generation and military equipment sectors.

Other players operating in the global borescope market include Teledyne FLIR LLC, JME Technologies, Inc., Lenox Instrument Co., PCE Holding AG, Gradient Lens Corporation, MORITEX Corporation, and Teslong Technology, among others.

Key Highlights of the Report