The track geometry measurement system (TGMS) ensures rail safety by employing various measuring equipment to record railway track geometry conditions. The system is a combination of hardware and software components that derive track geometry parameters. The TGMS market is expected to be valued at USD 2.8 billion in 2019 and is likely to reach USD 3.7 billion by 2024, at a CAGR of 6.00% during the forecast period. Presence of various standards and regulations in the railway industry and need for track geometry measurement systems to meet those standards are among the key driving factors for the TGMS market. Adopting track geometry measurement systems for track maintenance and growing network of metro lines and high-speed railway lines are among the other factors fueling the growth of the TGMS market.
Major players in the TGMS market have primarily adopted the strategy of contracts to strengthen their position in the market. For instance, in April 2018, Balfour Beatty (UK) was awarded a 7-year contract worth ~USD 147 million (£115 million) by Network Rail (UK). Under this contract, Balfour Beatty will supply as well as conduct operation and maintenance of its fleet of 13 track maintenance vehicles. The company will be responsible for delivering tamping shifts across Anglia and South-East routes, which are among the most heavily utilized parts of the UK rail network. In April 2016, MER MEC (Germany) was also awarded a contract for design, furnishing, and delivery of one Track Geometry Car, a project financed by the Federal Transit Administration, the first comprehensive inspection and measuring track recording car to be manufactured in the US in accordance with the Buy American Act requirements.
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ENSCO (US) and Fugro (Netherlands) are among the major players in the TGMS market. Fugro (Netherlands) has strong brand image in the railway industry and is engaged in providing information to rail professionals to help them in designing, building, upgrading, and maintaining railway infrastructure. In addition, strong product portfolio, geographic reach, and R&D capabilities are the other strengths that have helped the company attain a key position in the TGMS market.
ENSCO has over 45 years of experience in providing solutions for the railway industry. The company’s significant experience in the railway industry, along with its strong brand image and customer base, has led to its dominant position in the track geometry measurement system market. Recently, the company won several contracts for providing its products and services. For instance, in 2017, Canadian Pacific (Canada) awarded the ENSCO a contract to provide inspection systems for a new track evaluation car; Federal Railroad Administration (US) awarded ENSCO with a 5-year contract for operating and maintaining its 6 FRA track inspection cars. The company has strong presence in North America and is trying to strengthen its presence in other regions through expansions.