Global Geophysical Services Market Trends And Strategies Of Major Players In The Geophysical Services Market 2021-2030

The geophysical services market consists of the sales of geophysical services and related goods by entities (organizations, sole traders and partnerships) that locate and measure the extent of subsurface resources, such as oil, gas, and minerals, and also conduct surveys for engineering purposes. The surveying techniques include magnetic surveys, gravity surveys, seismic surveys, or electrical and electromagnetic surveys. Only goods and services traded between entities or sold to end consumers are included.

Global Geophysical Services Market Size And Drivers:

The global geophysical services market is expected to grow from $8.69 billion in 2020 to $9.38 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.74 billion in 2025 at a CAGR of 0.9%. Growing exploration activities is contributing to the growth of the geophysical services market.

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Trends In The Global Geophysical Services Market

Geophysical service providers are using drones for conducting aerial geophysical surveys. Estimating the variety of key physical or geochemical boundaries of the earth by means of air is conducted through aerial/airborne geophysical surveying. Drones used for surveying are equipped with a magnetometer and other sensors such as electromagnetic, gamma-ray, spectrometry, magnetic, and gravity to get clear and productive results of the survey. In June 2020, Terremys, a startup company, launched a lightweight UAV (Unmanned Aerial Vehicles) magnetic survey technology which will allow multi-scale aeromagnetic surveys using a measuring system weighing less than 500 grams. AeroVision Airborne Geophysics (Drone-MAG) is an innovative product of Abitibi Geophysics which provides low altitude aeromagnetic surveys, creating high-resolution data at regular intervals at a fraction of the cost of the ground mag.

Global Geophysical Services Market Segments:
The global geophysical services market is further segmented –
By Survey Type: Land, Marine, Aerial
By Technology: Seismic, Magnetic, Gravity, Electromagnetic, Lidar, Ground Penetrating, Others
By Application: Road, Rail, Port, Airport, Pipeline, Others
By End User: Agriculture, Environment, Minerals And Mining, Oil And Gas, Water Exploration, Others
By Geography: The global geophysical services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Geophysical Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides geophysical services market overviews, analyzes and forecasts market size and growth for the global geophysical services market, geophysical services market share, geophysical services market players, geophysical services market segments and geographies, geophysical services market’s leading competitors’ revenues, profiles and market shares. The geophysical services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.