Market study for device to improve non-destructive testing of material samples.

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The work to be undertakenMarket AnalysisThe independent consultant will be required to:-1. Conduct a SWOT analysis on the Product.2. Identify whether there are any competing solutions/products in the market. 3. Identify any barriers or gaps within the Product that may prevent 'take-up' by the relevant market and hence any further technology development required.4. Identify the horizontal and vertical market opportunities for the Product, including: financial size of each market; expected benefits of the Product for each market; assessment of the demand for the Product by each market.5. Recommend the best route to market to maximise returns including but not limited to: identify at least 3 UK manufacturing companies and obtain an understanding of how they charge for their manufacturing services; identify at least 10 potential sales licensees across different geographic regions and obtain their views on the likely retail price of a unit.The consultant will be encouraged to think laterally to identify product and market opportunities but it would be required at the very least to research the opportunities/markets summarised in the Beneficiaries section.Laboratory testing In parallel, units of the device will be manufactured and tested on samples at pressures up to 10,000 psi / 60 mpa. We anticipate the key issue will be whether the material/substrate of the device is sufficiently robust to withstand the high pressure. If so, we plan to publish our results which will build credibility and interest in the device.How will it inform our understanding?The market research will provide NERC and NOC with the optimum mix of information to judge what further development is required, if any, and the best routes to market including identifying 3 potential UK manufacturing companies and the most appropriate sales licensees for the relevant market by geography and sector. Geographic regions should include Africa, Asia, Australia, Europe, Latin America and Caribbean, Middle East, North America, Russia CIS and South America. The testing of the device will inform whether any modifications need to be made.How it will help shape the development and execution of our proposed Follow-on project?The market analysis will inform:-1. The Business Case for the device/product - Stop/Go; 2. Whether and how we need to develop the device/product to meet specific licensee/end-user requirements;3. The planning and development of the best routes to market/licensing plan.We anticipate successful testing and so the key will be to find the most appropriate manufacture and sales licensees which we anticipate wouldn't require further capital investment from NERC as the NOC enterprise team would be able to assist us in this task.