What Petards Group does

Petards Group plc is an AIM-listed (ticker: PEG) UK developer of advanced security, surveillance, and communication systems, headquartered in Guildford with engineering offices in Gateshead, Kimbolton, and West Drayton. The group operates across four verticals: defence (via subsidiary Petards Joyce-Loebl), rail (eyeTrain CCTV and video systems), traffic enforcement and ANPR (via QRO Solutions with the Harrier AI, Harrier Mini, and ProVida product lines), and wireless communications (via Affini Technology), with RTS Solutions providing track-side safety software. Customers are concentrated in the UK public sector and large industrial primes, including the Ministry of Defence, BAE Systems, Rheinmetall BAE Systems Land, Network Rail, Northumbria Police, the Government of Gibraltar, and European train builders such as Bombardier, Alstom, Hitachi, Siemens, Stadler, and CAF.

The technology stack combines ruggedised hardware (defence-grade electronics, on-board CCTV, forward-facing and track debris cameras, ANPR cameras, military-grade 360-degree spherical video via EyeCraft360) with embedded software (video management, back-office ANPR software, track-side safety software) and AI applied at the perception layer for automatic number plate recognition. Products are designed for safety-critical and demanding operational environments, including military aerospace, armoured vehicles, and rolling stock.

The business model blends one-time hardware product sales, engineering and support services (over 50% of revenues come from engineering support, spares, repairs, and managed services), multi-year framework contracts with government and police customers, and software licensing for proprietary video management and ANPR technology. Go-to-market is direct enterprise and government field sales supported by tendering processes, framework agreements, industry events such as DSEI, and regulatory news service announcements as an AIM-listed issuer. FY2025 revenue of £14.9 million (up 24% year-on-year) was generated at a 49.7% gross margin and £1.0 million of adjusted EBITDA, with an order book of £9.2 million and a reduced net debt position of £1.3 million.

Name

Petards Group

Legal name

Petards Group plc

Website

https://petards.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

Petards Group plc is an AIM-listed UK developer of advanced security, surveillance, and communication systems, serving the UK Ministry of Defence, BAE Systems, European train OEMs, and UK police forces through subsidiaries spanning defence electronics, rail CCTV, ANPR and speed enforcement, and wireless technology.

Ownership category

akta.pro rank

Headquarters

HQ city

Guildford

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Product Sales: Sale of hardware products including eyeTrain systems, ANPR equipment, surveillance cameras, and defense electronics. Products range from train security systems to military aerospace safety equipment.
2. Engineering and Support Services: Engineering design services, obsolescence management, installation, and maintenance support. Over 50% of revenues derived from services including engineering support, spares, repairs and managed services.
3. Framework Contracts: Multi-year framework agreements with government agencies and police forces for ongoing supply of equipment and support services
4. Software and Technology Licensing: Licensing of proprietary software systems including eyeTrain video management software and ANPR technology

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Petards Group plc designs, manufactures and supplies advanced security, surveillance and communication systems across four sectors: rail (eyeTrain on-board CCTV, forward-facing cameras and digital video recorders), defence (military communication systems, electronic countermeasures and the EyeCraft360 spherical video system), traffic and law enforcement (QRO Solutions' Harrier AI ANPR cameras and ProVida in-car speed enforcement systems) and wireless technology (Affini). Hardware products are complemented by engineering design, obsolescence management, installation, spares, repairs and managed support services, with over 50% of group revenue derived from services.

Product overview

Petards Group is an AIM-listed developer of advanced security, surveillance, and communication systems operating across four main sectors: Traffic (via QRO Solutions - ANPR and speed enforcement), Rail (eyeTrain systems), Wireless (via Affini), and Defence (via Petards Joyce-Loebl). The company's product portfolio includes the eyeTrain rail CCTV and data systems, QRO Solutions' Harrier AI ANPR cameras and ProVida speed enforcement products, the EyeCraft360 360-degree military video system, and various defence communication and surveillance solutions. Products range from hardware-based systems (cameras, displays, recording equipment) to software solutions (track-side software, back-office systems). The Group also acquired RTS Solutions for track-side safety software and NASBox product lines, demonstrating a strategy of both organic development and acquisition.

Differentiator

Problem solved

Functional benefit

Brands

• eyeTrain: Rail technology systems including CCTV, forward-facing cameras, digital video recording, and ASDO systems for train fleets
• ProVida
• Harrier AI
• Harrier Mini
• eyeCraft360
• QRO Solutions
• Affini

Products and services

• eyeTrain Comprehensive rail security, surveillance and data collection system for train fleets, providing on-board CCTV, forward-facing cameras, track debris cameras, digital video recording, Automatic Passenger Counting and passenger information systems for train builders and operators.
• ProVida In-car speed enforcement system for police vehicles that detects, records and evidences speed violations for use by UK police forces and international law enforcement agencies.
• Harrier AI AI-powered Automatic Number Plate Recognition camera for highways and roadside deployments, providing real-time ANPR for traffic enforcement, border security and policing applications.
• Harrier Mini Compact ANPR camera product for traffic enforcement and police use, recently launched by QRO Solutions and reported as attracting significant market interest in company trading updates.
• EyeCraft360 Military-grade 360-degree spherical video system for armoured vehicles that provides situational awareness around, above and below the platform without crew exposure, intended for the defence export market.
• SentryView20 Rugged LCD display designed for demanding military and defence applications, built to withstand harsh operational environments in vehicles and platforms.
• UVMS (Universal Video Management System) Network video recording and management system for surveillance applications, with deployments in the UK and USA for security and operational monitoring.
• NASBox Product line acquired by QRO Solutions that contributes ANPR and speed enforcement capabilities to the Group's traffic technology portfolio.
• RTS Solutions Track-side Software Track-side software products for safety-critical support systems used by rail infrastructure operators, acquired by Petards Group in 2019.
• Engineering Design and Through-Life Support Services Engineering design services, obsolescence management, installation, spares, repairs and managed support services delivered to defence, rail and traffic customers, accounting for over 50% of group revenue.

Quantifiable outcome

• Revenue growth of 24% year-on-year to £14.9 million in 2025
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• QRO SolutionscoreOthersWholly-owned subsidiary acquired in 2016, providing ANPR speed enforcement systems and traffic technology solutions to law enforcement agencies. Operates from Cambridgeshire with dedicated sales and engineering teams.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Jenoptik AG: German technology group with a Smart Mobility Solutions division providing ANPR, traffic enforcement, and road safety systems. Direct competitor to QRO Solutions' Harrier AI and ProVida product lines in UK and European police tenders.
• Kapsch TrafficCom AG: Austrian-listed provider of intelligent transportation systems including ANPR, tolling, and traffic enforcement. Competes head-to-head with QRO Solutions on UK highways police contracts and broader European traffic-management tenders.
• Cohort plc: London AIM-listed holding company for UK defence and security technology subsidiaries (e.g., Chess Dynamics, ELAC SONAR, SEA). Closely comparable business model to Petards: small-cap UK platform providing electronic systems to MOD and prime contractors, with similar revenue scale and end-markets.
• Chemring Group plc: UK-listed defence company providing electronic countermeasures, countermeasures equipment, and EOD products. Petards' electronic-countermeasures business for military aircraft directly overlaps Chemring's core niche and shares the same UK MOD customer base.
• Croma Security Solutions Group plc: AIM-listed UK security solutions provider of surveillance, access control, and counter-terrorism equipment. Comparable in size, AIM-listing structure, and customer set; Petards' Non-Executive Director John Wakefield is also Chairman of Croma, signalling direct competitive and governance overlap.

Regional players

• Redflex Traffic Systems: Australian-headquartered ANPR and red-light/speed-enforcement provider operating primarily in North America and Australasia. Closest geographic-substitute competitor to QRO Solutions' Harrier/ProVida products for police traffic enforcement worldwide.

Broad incumbents

• Leonardo S.p.A. Global defence and aerospace prime with electronics, helicopter, and surveillance divisions. Leonardo is both a Petards defence customer (per disclosed customer list) and a broad competitor in airborne surveillance, electronic warfare, and secure communications.
• Thales Group: French-listed multinational providing defence electronics, rail signalling, and cybersecurity. Overlaps with Petards' eyeTrain rail-security offering via Thales' transport business and with the defence-communications portfolio via Thales' secure-communications division.
• Ultra Electronics Holdings plc: UK-based defence and security electronics group (now under Cobham/Advent) supplying sonar, communications, and countermeasure systems to MOD and NATO. Significantly larger but competes with Petards in aerospace safety equipment and defence communications.
• Saab AB: Swedish defence and security company producing surveillance systems, electronic warfare, and combat-management solutions. Comparable to Petards' defence portfolio in providing integrated situational-awareness and countermeasure systems to NATO and allied militaries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/petards
• LinkedInlinkedin.com/company/petards

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petards Group