Industrial x-ray inspection firm Ray Tech unveils $50 mn growth plan for India

CHENNAI: Ray Tech India is eyeing 20% share of India’s approximately $300 million industrial x-ray inspection market within five years.
The announcement comes with the inauguration of its new showroom in Sholinganallur, Chennai, which will serve as a technology, demonstration and customer engagement hub.

Sean Lyu, managing director, Ray Tech Group, in a media interaction here on Tuesday, said the Malaysia-based industrial inspection x-ray machine maker Ray Tech (Unicomp group company) is keen on growing in the Indian market. It is evaluating setting up a production facility, once it is able to cross the 200 unit sales mark.

Ray Tech is also scouting for suitable acquisition targets in India, he said, noting that "there is an ongoing deal in the UK and Malaysia."
The group is also looking at several options including joint venture, greenfield or brownfield opportunities.

The users of industrial inspection x-ray machines are primarily in key sectors such as semiconductors, SMT, electronics, battery, automotive, food and beverage industries.

The machines are used for micro-level inspection in diverse industries and Ray Tech competes with players like Northern, Comet, Zeiss.  

Lyu said while Ray Tech sells about 500 units per annum globally, its parent Unicomp group's yearly sales is about 4,000 units, the largest player in the world. 

Raytech Holding saw its revenue increasing by 81.1% to $18.2 million and net income increasing by 101.9% to $2.1 million in fiscal year 2026.

The entry into the Indian market happened in August 2025 with a two-member team and Ray Tech has since expanded to nearly 15 employees.
The company has already placed close to 20 x-ray inspection systems in India, building a growing customer and distributor network.

Chennai has been chosen as a strategic base for the next phase, driven by Tamil Nadu's strong industrial ecosystem spanning electronics, automotive, engineering, semiconductor-related industries and advanced manufacturing, Lyu said.