Measurement and Other Scientific Equipment Manufacturing in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: December 2023
ANZSIC C2419Revenue
$3.3bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
6,378
Businesses
769
Wages
$XXX.Xm
Measurement and Other Scientific Equipment Manufacturing in Australia industry analysis
Although import competition has slipped in recent years, it continues to hinder revenue growth for industry manufacturers and satisfy a dominant share of domestic demand. Pricepoint competition has had an outsized impact, with low-cost imports undercutting prices and heaping pressure on domestic manufacturers. A depreciating Australian dollar has reduced domestic businesses’ purchasing power in the international market, providing some relief from import competition, but this depreciation has inflated purchase costs and exerted downwards pressure on profit margins.
Trends and Insights
- Imports significantly impact the market for measurement and scientific equipment manufacturers. While their proportion of domestic demand has marginally decreased since 2020-21, imports continue to account for the majority of domestic demand.
- Healthcare industries are demanding more measurement and other scientific equipment products in the wake of the pandemic. This trend lifted revenue growth for manufacturers.
- The spread of businesses follows the distribution of Australia’s population and economic activity. That’s why most businesses are located in New South Wales and Victoria.
- Imports represent the primary form of substitute products, accounting for a dominant share of domestic demand. Growing demand for imports threatens domestic manufacturers by undercutting prices and offering an alternate product range.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 3.6 % over the past five years, to reach an estimated $3.3bn in 2023.
Trends and Insights
Imports have a substantial influence on measurement and other scientific equipment manufacturers
- Manufacturers are subject to considerable import competition because of growth in import penetration. Imports have absorbed a greater share of domestic demand since 2021-22, leading to more pronounced competition for domestic manufacturers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Increased investment and activity in downstream markets is set to encourage revenue and wage growth
- Manufacturing, mining, construction, defence, healthcare and scientific research industries all use measuring and scientific equipment.
Biggest companies in the Measurement and Other Scientific Equipment Manufacturing in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Leica Microsystems | 158.0 | |
Thermo Fisher Scientific | 138.4 | |
Raytheon | 81.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Surveying, radar and nautical instruments, Timing instruments, watches and clocks and Laboratory, measuring and scientific equipment. Surveying, radar and nautical instruments is the largest segment of the Measurement and Other Scientific Equipment Manufacturing in Australia.
Trends and Insights
Greater defence spending is boosting demand for surveying, radar and nautical instruments
- Surveying equipment, including GPS products, is mainly used in geophysical surveys of land, hydrographic surveys of navigable waters, aerial surveys, archaeological field surveys to locate sites prior to excavation and surveys to map boundaries. Nautical and radar instruments are primarily used in civil and military shipbuilding.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Photographic and Optical Goods Manufacturing in Australia
- Medical and Surgical Equipment Manufacturing in Australia
- Electric Cable and Wire Manufacturing in Australia
- Power Automation Products and Other Electrical Equipment Manufacturing in Australia
International industries
- Navigational Instrument Manufacturing in the US
- Fleet Telematics Systems in the US
- Navigational Instrument Manufacturing in Canada
- Medical, Surgical and Scientific Equipment Manufacturing in New Zealand
- Measuring, Testing & Navigational Equipment Manufacturing in the UK
Table of Contents
About this industry
Industry definition
Industry manufacturers primarily produce navigational, measuring, or other professional and scientific equipment that isn’t classified elsewhere. Manufacturers that produce specialised parts for this equipment are also included in the industry.
What's included in this industry?
Surveying, radar and nautical instrumentsTiming instruments, watches and clocksLaboratory, measuring and scientific equipmentElectrical signalling and testing equipmentMeters and related equipmentMeteorological instruments Uninsulated fibre-optic cablesTemperature, pressure, water vapour and gradient measurement instrumentsCompanies
Leica MicrosystemsThermo Fisher ScientificRaytheonPurchase this report to view all 4 major companies in this industry.
Related Terms
GLOBAL POSITIONING SYSTEM (GPS)MAGNETIC RESONANCE IMAGING (MRI)CONFOCALIndustry Code
ANZSIC 2419 - Measurement and Other Scientific Equipment Manufacturing in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Imports significantly impact the market for measurement and scientific equipment manufacturers. While their proportion of domestic demand has marginally decreased since 2020-...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Healthcare industries are demanding more measurement and other scientific equipment products in the wake of the pandemic. This trend lifted revenue growth for manufacturers.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The spread of businesses follows the distribution of Australia’s population and economic activity. That’s why most businesses are located in New South Wales and Victoria.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Imports represent the primary form of substitute products, accounting for a dominant share of domestic demand. Growing demand for imports threatens domestic manufacturers by ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Companies across the industry have contended with high import competition in recent years. The manufacturers producing specialised products have been better placed to compete...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Leica Microsystems's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Thermo Fisher Scientific's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Raytheon's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Leica Microsystems, and factors influencing its performance in the industry
- Description and key data for Thermo Fisher Scientific, and factors influencing its performance in the industry
- Description and key data for Raytheon, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Many construction processes require sophisticated testing and measuring equipment, including nuclear gauges used to measure materials’ density and strength. That’s why change...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wages take up a larger share of revenue for industry manufacturers compared with other manufacturing industries. Skilled staff are required because manufacturing processes ar...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Measurement and Other Scientific Equipment Manufacturing industry in Australia in 2024?
The market size of the Measurement and Other Scientific Equipment Manufacturing industry in Australia is $3.3bn in 2024.
How many businesses are there in the Measurement and Other Scientific Equipment Manufacturing in Australia industry in 2023?
There are 769 businesses in the Measurement and Other Scientific Equipment Manufacturing industry in Australia, which has declined at a CAGR of 0.3 % between 2018 and 2023.
Has the Measurement and Other Scientific Equipment Manufacturing industry in Australia grown or declined over the past 5 years?
The market size of the Measurement and Other Scientific Equipment Manufacturing industry in Australia has been growing at a CAGR of 3.6 % between 2018 and 2023.
What is the forecast growth of the Measurement and Other Scientific Equipment Manufacturing industry in Australia over the next 5 years?
Over the next five years, the Measurement and Other Scientific Equipment Manufacturing industry in Australia is expected to grow.
What are the biggest companies in the Measurement and Other Scientific Equipment Manufacturing market in Australia?
The biggest companies operating in the Measurement and Other Scientific Equipment Manufacturing market in Australia are Leica Microsystems, Thermo Fisher Scientific and Raytheon
What does the Measurement and Other Scientific Equipment Manufacturing in Australia include?
Surveying, radar and nautical instruments and Timing instruments, watches and clocks are part of the Measurement and Other Scientific Equipment Manufacturing industry.
Which companies have the highest market share in the Measurement and Other Scientific Equipment Manufacturing in Australia?
The company holding the most market share in Australia is Leica Microsystems.
How competitive is the Measurement and Other Scientific Equipment Manufacturing industry in Australia?
The level of competition is moderate and steady in the Measurement and Other Scientific Equipment Manufacturing industry in Australia.
