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          1. Geophysical Surveying & Mapping Services Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 6/8/2020
            SIC Codes: 1382, 8713
            NAICS Codes: 541360
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Geophysical Surveying & Mapping Services Industry Profile

            Companies in this industry gather, interpret, and map geophysical data. Major companies include ION Geophysical, Global Geophysical Services, and NuTech Energy Alliance (all based in the US), as well as TGS-NOPEC and Petroleum Geo-Services (both based in Norway), WesternGeco (the UK), and Logan International (Canada).

            Worldwide, oil and gas exploration drives demand for geophysical surveying and mapping services. To meet growing demand and make up for depletion of existing oil sources, new oil reserves must be discovered. The largest oil and gas producing areas of the world include Saudi Arabia, Russia, the US, Canada, and Iran, according to Rystad Energy.

            The US geophysical survey and mapping services industry includes about 1,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $3 billion.

            COMPETITIVE LANDSCAPE

            Demand is driven by oil and gas exploration activity. The profitability of individual companies depends on their ability to maintain a steady flow of contract work. Large companies enjoy economies of scale in purchasing and administration, as well as the ability to serve major clients from multiple locations. Small companies can compete by specializing in a specific geography or survey type. The industry is highly concentrated: the 50 largest companies account for about 90% of revenue.

            PRODUCTS, OPERATIONS & TECHNOLOGY

            Major services include geophysical data collection (about 50% of industry revenue), geophysical data sales (about 20%), and integrated geophysical services (about 15%).

            Establishments in this industry typically specialize in locating ...

             
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