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

NEW YORK, July 16, 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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Key Market Trends Fueling Growth

The global surveying equipment market is poised for significant growth due to the increasing adoption of unmanned aerial vehicles (UAVs) for civil applications. UAVs offer numerous advantages, such as rapid, cost-effective, and automated geospatial data acquisition in small and medium-sized areas. Both photography and topographic data can be generated, making UAVs an ideal solution for surveying hazardous or difficult-to-reach areas without human intervention. The US, a world leader in drone technology, is investing extensively in research and development to create the latest drone technology. The US military's extensive experience with drones has led to the introduction of programs like UCLASS UAV for carrier-borne drone capability and research into stealth drones, high-altitude surveillance drones, and other advanced drone technologies. Israel and China are also investing heavily in drone production. Israel is producing UAVs for key roles within a broader surveillance-strike complex, while China has allowed numerous companies, both state-owned defense enterprises and private suppliers, to produce and develop UAVs. This has resulted in a diverse range of drone options for these governments, suitable for military and counter-terror operations. Therefore, the increasing use of UAVs in surveying, the US's and Israel's technological advancements, and China's investment in drone production are expected to drive the growth of the global surveying equipment market during the forecast period. 

The Surveying Equipment Market is experiencing significant growth due to trends in GPS/GNSS technology, urbanization, transportation networks, renewable energy projects, and automation and robotics. Hardware, software, and services are key areas of focus, with GPS systems, total stations, theodolites, levels, and UAVs leading the charge. Urbanization and industrialization require advanced technology for data collection and processing, leading to increased demand for skilled workforce and technical knowledge. UAVs, LiDAR systems, and drones are revolutionizing data collection and management in industries like mining & construction, oil & gas, and disaster management. Cutting-edge technology includes visual SLAM technology, digital twin creation, and integrated smart antennas. The transportation sector relies on GNSS network solutions and time-saving processes. Renewable energy projects and smart cities require advanced software for data processing and documentation. The market also caters to specialized industries like nuclear facilities and research and planning. Modular GNSS systems, board-level GNSS receivers, and antennas are essential components of survey equipment portfolios. The future of surveying equipment lies in automation, data management, and advanced technology. 

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Market Challenges

• The construction industry's growth is influenced by economic conditions, both nationally and regionally. The US and global economies have experienced moderate to slow growth and significant volatility, negatively impacting the industry. Economic uncertainty may cause customers to delay spending due to tighter credit, income declines, or negative financial news. Non-residential real estate markets, labor and healthcare costs, access to credit, and other macroeconomic factors also affect construction demand. Delayed or canceled projects due to depressed foreign direct investments and delayed government subsidies are expected to hinder market growth during the forecast period.
• The Surveying Equipment Market faces challenges in various industries such as nuclear facilities and construction. The integration of cutting-edge technology like GNSS systems, total stations, theodolites, and unmanned aerial vehicles (UAVs or drones) is crucial for efficient data collection and processing. The oil & gas industry and disaster management sector heavily rely on surveying equipment for exploration drilling, pipeline management, and volumetric calculations. Advanced software and management systems aid in research and planning, data management, documentation, and inspection. Industrialization leads to an increased demand for time-saving processes and skilled manpower. LiDAR systems and aerial platforms offer solutions for complex land survey methods. GNSS network solutions, integrated smart antennas, and modular GNSS systems ensure accurate reference stations. The agriculture, mining, and mining software industries also benefit from surveying equipment for layout points and exploration.

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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 increasing investments in infrastructure projects, particularly in the construction of bridges, highways, roads, and expressways in countries like the US, Chile, Brazil, China, India, and other emerging Asian economies. The expansion of high-speed rail networks in China and Europe, as well as in North America, is a major driver of this growth. In Europe, there is a strong demand to connect various regions, while in North America, Mexico, the US, and Canada are investing in high-speed rail to alleviate traffic congestion. These infrastructure developments will require advanced surveying equipment to ensure accuracy and efficiency, leading to the market's continued expansion during the forecast period.

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Research Analysis

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing use of GPS/GNSS technology in land surveying, urbanization, and the development of transportation networks. Renewable energy projects also contribute to the market's expansion, as advanced technology and automation through robotics and drones are essential for data collection in these sectors. The market requires a skilled workforce with technical knowledge to operate the complex land survey equipment, such as total stations, theodolites, levels, and GNSS systems. The oil & gas industry and industrialization are other major drivers, with time-saving processes and data collection being key benefits. The market is also witnessing the integration of software solutions to enhance the functionality and efficiency of surveying equipment.

Market Research Overview

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing urbanization and transportation networks development, renewable energy projects, and the need for automation and robotics in the industry. The market is driven by advanced technology such as GPS/GNSS technology, which enables time-saving processes and high-precision data collection. The market also includes hardware, software, and services, with UAVs, total stations & theodolites, levels, and LiDAR systems being popular equipment types. The market caters to various industries, including mining & construction, smart cities, nuclear facilities, oil & gas industry, disaster management, and industrialization. The use of cutting-edge technology, such as digital twin creation, visual SLAM technology, and advanced software, is becoming increasingly common. The market also offers solutions for data processing, documentation, and management systems for research and planning. The market requires a skilled workforce with technical knowledge and expertise in various survey methods, such as GNSS network solutions, integrated smart antennas, modular GNSS systems, and board-level GNSS receivers. The market also includes reference stations, inspection, monitoring, volumetric calculations, layout points, and construction software for agriculture, mining, and oil & gas industries. Exploration drilling and pipeline management are also significant applications for surveying equipment.

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

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SOURCE Technavio