Surveying Equipment Market size is set to grow by USD 2.72 billion from 2024-2028, Growth in railway sector in APAC boost the market, Technavio

NEW YORK, June 21, 2024 /PRNewswire/ -- The global surveying equipment market size is estimated to grow by USD 2.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.46%  during the forecast period. growth in railway sector in APAC is driving market growth, with a trend towards growth in UAV market. However, uncertain macroeconomic conditions  poses a challenge. Key market players include Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd..

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Market Driver

The global surveying equipment market is anticipated to grow significantly due to the increasing adoption of unmanned aerial vehicles (UAVs) for civil applications. UAVs offer rapid, cost-effective, and automated geospatial data acquisition in small and medium-sized areas, making them ideal for photography and topographic data generation. They enable surveying of hazardous or difficult-to-reach areas without human intervention. The US and Israel are leading innovators in drone technology, with the US military and Israeli surveillance-strike complexes utilizing UAVs extensively. China is also investing heavily in drone production, providing the Chinese government with a diverse range of options for military framework and counter-terror operations. These factors are expected to fuel market growth during the forecast period. 

The surveying equipment market is experiencing significant growth, with technologies such as Global Positioning Systems (GPS), Total Stations, and Laser Levels becoming increasingly popular. UAVs (drones) are also gaining traction in the industry for aerial surveying and mapping. New technologies like 3D scanning and LiDAR are transforming the way surveys are conducted. Robotic total stations and automatic leveling systems are making surveys more efficient and accurate. The use of software for data processing and analysis is also on the rise. The market is expected to continue growing due to the increasing demand for accurate and efficient surveying solutions. The trend towards automation and integration of various surveying technologies is driving innovation in the industry. 

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Market Challenges

• The Surveying Equipment Market faces challenges due to economic instability and uncertainty. Moderate to slow growth and volatility in the US and global economies negatively impact the industry. Delayed or canceled construction projects result from factors such as tighter credit, declining income, asset values, and financial news. Additionally, non-residential real estate markets, labor and healthcare costs, access to credit, and other macroeconomic factors influence market demand. Economic growth uncertainty has suppressed Foreign Direct Investments (FDIs) and delayed government subsidies, further hindering market growth during the forecast period.
• The surveying equipment market faces several challenges in the current technology-driven era. One major challenge is keeping up with the latest advancements in technology. Equipment like drones, GNSS systems, and 3D scanners are increasingly being used in the industry. Additionally, data management and analysis are becoming crucial for effective decision-making. However, the high cost of these advanced technologies and the need for continuous upgrades pose a significant challenge for small and medium-sized businesses. Another challenge is ensuring accuracy and reliability in the data collected, especially in complex and challenging terrains. Proper training and calibration of equipment are essential to address this issue. Furthermore, regulatory compliance and data security are growing concerns that require constant attention.

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Segment Overview 

This surveying equipment market report extensively covers market segmentation by  

1. Application 
• 1.1 Land application
• 1.2 Hydrographic application
2. Product 
• 2.1 Total stations and theodolites levels
• 2.2 GNSS system
• 2.3 UAV
• 2.4 Pipe lasers
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Land application-  The global surveying equipment market is experiencing significant growth due to increased investments in infrastructure projects in countries like the US, Chile, Brazil, China, India, and emerging Asian economies. The construction output is predicted to increase substantially in these regions, particularly in China and India, driven by smart city initiatives and high-speed rail development. In Europe and North America, high-speed rail projects are also underway, leading to increased demand for surveying equipment. These factors are expected to fuel the growth of the land application segment in the global surveying equipment market.

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Research Analysis

The Surveying Equipment Market encompasses a range of advanced technologies, including GPS/GNSS and land survey equipment, that play a crucial role in urbanization and transportation networks. These technologies facilitate the efficient collection of data for renewable energy projects and the industrialization of sectors such as oil & gas. Automation and robotics, including total stations, theodolites, levels, and unmanned aerial vehicles (UAVs or drones), streamline processes and save time. A skilled workforce with technical knowledge is essential for operating and maintaining these sophisticated systems. Software solutions further enhance the capabilities of surveying equipment, enabling precise and accurate data analysis.

Market Research Overview

The Surveying Equipment Market encompasses a range of technologies and instruments used to measure and record geodetic, topographic, and construction data. These tools include total stations, theodolites, GPS receivers, laser levels, and 3D scanners. The market is driven by the increasing demand for accurate and efficient surveying solutions in various industries such as construction, mining, oil and gas, and transportation. Advanced technologies like GNSS (Global Navigation Satellite Systems) and LiDAR (Light Detection and Ranging) are revolutionizing the surveying industry with their high precision and speed. The market is expected to grow significantly due to the increasing adoption of these advanced technologies and the rising need for infrastructure development in emerging economies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Land Application
• Hydrographic Application
• Product
• Total Stations And Theodolites Levels
• GNSS System
• UAV
• Pipe Lasers
• Others
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com/

SOURCE Technavio