Pune, India, July 13, 2022 (GLOBE NEWSWIRE) -- The growing cognizance about ground penetrating radar market is expected to aid healthy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Ground Penetrating Radar Market Size, Share & Industry Analysis, and Regional Forecast, 2022-2029.” The growing concerns about the safety of underground utilities are likely to incite the development of the market.
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The Report Lists the Main Companies in the Ground Penetrating Radar Market:
- Chemring Group (The U.K.)
- Geophysical Survey Systems, Inc. (The U.S.)
- Geoscanners (The U.K.)
- Guideline Geo (Sweden)
- IDS Georadar (Italy)
- Leica Geosystems AG (Switzerland)
- Penetradar Corporation (The U.K.)
- Pipehawk PLC (The U.K.)
- Radiodetection (The U.K.)
- Sensors & Software Inc. (Canada)
- Utsi Electronics Ltd. (The U.K.)
The report ground penetrating radar Market comprises:
- Latest trends in the market
- Regional analysis, including main financial booming regions
- Key strategies implemented by competitors
- Notable Development in the market
Browse Summary of this Research Report:
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Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Cutting Technology, By End-User, By Region |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Companies Covered in Ground Penetrating Radar Market are Chemring Group (The U.K.), Geophysical Survey Systems, Inc. (The U.S.), Geoscanners (The U.K.), Guideline Geo (Sweden), IDS Georadar (Italy), Leica Geosystems AG (Switzerland), Penetradar Corporation (The U.K.), Pipehawk PLC (The U.K.), Radiodetection (The U.K.), Sensors & Software Inc. (Canada), Utsi Electronics Ltd. (The U.K.) and Other key players |
| Ground Penetrating Radar Market | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Market Driver:
Contract of Sensors and Electronic Systems to Brighten Business Opportunities
Sensors and Electronic Systems, a major supplier of vehicle-mounted ground penetrating radar (GPR) detection systems announced that it has signed a contract with the U.S. Army to deliver an explosive detection system. The system will involve the GPR system, that can be used in the battlefield operation. Furthermore, the growing initiatives for the implementation of ground penetrating radars can be an essential factor fostering the growth of the market. The rising apprehensions about the safety and protection of underground utilities are likely to aid the adoption of ground penetrating radar, which, in turn, will encourage the expansion of the market. The heavy demand for real-time GPR services is expected to bode well for the market. The modernization of existing infrastructure is expected to create lucrative business opportunities for the market in the foreseeable future.
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However, the expertise and skillset required to operate GPR equipment are expected to be an obstructing factor for the growth of the market. Moreover, the high cost of ground penetrating radars is likely to hamper the growth of the market.
Regional Analysis:
Inflated Demand for Vehicle-mounted GPR Systems to Accelerate Growth in Asia Pacific
Geographically, the global ground penetrating radar market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. The market in Asia Pacific is expected to hold the largest share in the global market during the forecast period. The growth in the region is attributed to the growing automotive industry in Japan. The increasing military budget is expected to create lucrative business opportunities for the market in Asia Pacific. Europe is likely to account for a significant share in the global market owing to the increasing government support for the deployment of GPRs in the U.K. North America is expected to witness a rapid growth rate during the forecast period owing to the growing demand for GPR system in a geological survey. The increasing adoption of radar sensors in the U.S is expected to enable speedy expansion of the market in the forthcoming years. The Middle East and Africa is likely to experience a stellar growth in the foreseeable future owing to the increasing mineral exploration underground activities in the region.
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Notable Development:
April 2018: GSSI and MIT Lincoln Laboratory signed a contract to build & sell the commercial prototypes for GPR systems. It will be used to navigate the autonomous vehicles used in the subsurface geology.
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