Ground Penetrating Radar Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Ground Penetrating Radar Market
The ground penetrating radar market size was valued at USD 336.2 billion in 2021, and the market is now projected to grow from USD 367.3 billion in 2022 to USD 612.6 billion by 2029, exhibiting a CAGR of 7.58% during the forecast period of 2022-2029.
The Russia Ukraine conflict has acted as a driver of defense expenditure worldwide helping to push up military spending and alter requirements for procurement. This conflict is developing the requirements for quick defense innovation, launching governments in search of new and superior technologies. As a result, it becomes expected that defense expenditures would rise with emphasis on deepening of security and sturdiness.
GPR is used as a utility locator that identifies both metallic and non-metallic underground facilities. Such features include water and sewage pipes, gas lines, conduits and fiber optic cables that are sometimes very difficult to trace. Construction and excavation industry cannot do without GPR technology for mapping of utility due to safety measures.
Expected development of ground-penetrating radar (GPR) will also improve its applicability in mineral mining and exploration. Recent developments regarding enhancement in deep radar signal to noise ratio allow GPR to penetrate electrically resistive ground to greater extent. The subsequent technologies make it possible to detect as well as map the material underneath the surface more swiftly. Therefore, GPR is gradually being adopted in mining and geological industries.
Comprehensive Analysis of Ground Penetrating Radar Market
The ground penetrating radar market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by product type analysis, by offering analysis, and by application analysis. By product type analysis include handheld systems, cart-based systems, and vehicle-mounted systems. By offering analysis include equipment and services. By application analysis include utility detection, concrete investigation, transportation infrastructure, archaeology, geology and environment, and law enforcement and military.
The North America region lead the ground penetrating radar market share by benefitting a market size of USD 130.8 billion in 2021 due to the high defense spending of the U.S. and the procurement of advanced military radar.
The top players in the markets have a central responsibility in the aerospace & defence industry to be sure of industrial prospectus development and to establish the market norms. These players include, Chemring Group, Geophysical Survey Systems Inc., Geoscanners, Guideline Geo, IDS Georadar, Israel Aerospace Industries Ltd, Pipehawk Plc, Raytheon Technologies Corporation, Radiodetection Ltd., Saab AB, Thales Group these market players provide a level-playing competitive landscape.
In April 2022, IDS GeoRadar, part of Hexagon, launched Ai. DA, an AI-based software tool for Guardian, enhancing slope stability monitoring by identifying movement trends and optimizing geotechnical decision-making.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2018-2029
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2029
Historical Period 2018-2020
Unit Value (USD Million)
Segmentation By Product Type, Offering, Application, and Geography
By Product Type
Handheld Systems
Cart-based Systems
Vehicle-mounted Systems
By Offering
Equipment
Services
By Application
Utility Detection
Concrete Investigation
Transportation Infrastructure
Archaeology
Geology and Environment
Law Enforcement and Military
By Geography
North America (By Product Type, Offering, Application, and Country)
U.S. (By Product Type)
Canada (By Product Type)
Europe (By Product Type, Offering, Application, and Country)
U.K. (By Product Type)
Germany (By Product Type)
France (By Product Type)
Rest of Europe (By Product Type)
Asia Pacific (By Product Type, Offering, Application, and Country)
China (By Product Type)
Japan (By Product Type)
India (By Product Type)
South Korea (By Product Type)
Rest of Asia Pacific (By Product Type)
Rest of the World (By Product Type, Offering, Application, and by sub-region)
Latin America (By Product Type)
Middle East & Africa (By Product Type)
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