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Growing exploration activities are expected to drive innovation in geophysical services manufacturing, thus driving the market during the forecast period.

The global geophysical services market is expected to grow from $14.15 billion in 2022 to $14.67 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The global geophysical services market size is expected to grow to $16.41 billion in 2027 at a CAGR of 2.8%.

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Global Geophysical Services Market Segments Include:

• By Survey Type: Land, Marine, Aerial
• By Technology: Seismic, Magnetic, Gravity, Electromagnetic, Lidar, Ground Penetrating, Other Technologies
• By Application: Road, Rail, Port, Airport, Pipeline, Other Applications
• By End User: Agriculture, Environment, Minerals and Mining, Oil and Gas, Water Exploration, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global geophysical services market in 2021.

Major Market Players in the geophysical services market include Schlumberger, TGS Geophysical Company (UK) Ltd., CGG Geoscience company, Ion Geophysical, Polarcus Ltd., Geokinetics, Halliburton Company.

Geophysical service providers are using drones to conduct 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 from 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.

The Geophysical Services Global Market Report 2023 provides a geophysical services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The geophysical services market forecast analyzes geophysical services market size, geophysical services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The geophysical services specialise in locating and measuring the number of resources such as minerals, oil, and gas, assessing earthquake hazards, investigating the subsurface for engineering structures, investigating archaeological sites, and imaging the subsurface for environmental hazards.

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