Borescope Market Size

Borescope Market size was over USD 730.6 Million in 2023 and is poised to exceed USD 1.5 Billion by the end of 2036, growing at over 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of borescope is estimated at USD 755 Million. The growing demand for non-destructive inspection is a prime factor for market growth. Every day, more than 25,000 inspections are performed in factories and on-site in the UK to detect defects and damage in an assortment of products, plants, and structures. Moreover, it is estimated that more than 120,000 inspectors are deployed worldwide. In non-destructive testing, borescopes are particularly useful for the inspection of internal components or structures where direct access is limited.

Besides this, the rising cost of loss incurred by lack of maintenance is also anticipated to augment the borescope market expansion. According to the World Corrosion Organization, corrosion costs the globe USD 2.2 trillion every year, which is more than 3% of the global GDP. In order to save these additional losses, the industries have accelerated the use of borescopes to give required regular maintenance and prevent costly breakdowns.