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The surveying equipment market size is forecast to increase by USD 2.73 billion, at a CAGR of 4.46% between 2024 and 2028. The market's expansion hinges on key factors such as the burgeoning railway sector in APAC, robust growth in the construction industry, and the emergence of new opportunities in natural gas markets. The increasing demand for railway infrastructure in the Asia-Pacific region, coupled with ongoing construction activities, drives the need for surveying equipment. Additionally, the exploration and development of natural gas reserves open up new avenues for the deployment of surveying equipment in related industries, fostering market growth. Our market growth analysis report examines historic data from 2018 - 2022, besides analyzing the current and forecasts market scenario.
Market Forecast 2024-2028
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The market experiences robust growth driven by technological advancements like GPS/GNSS technology and automation, facilitating efficient data collection and time-saving processes. Infrastructure development and urbanization fuel demand, especially in sectors like construction, oil & gas, agriculture, and mining. The adoption of subscription and rental models offers flexibility, while a skilled workforce and technical knowledge are essential for leveraging advanced technology such as total stations, laser scanners, and drones. Challenges include the need for continuous innovation to meet evolving market needs and addressing data security concerns in rental and leasing services. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
India is expected to be a major contributor to this growth, particularly through government initiatives such as the Smart Cities project and the Housing for All by 2022 initiative, which will promote affordable housing and supportive policy changes to accelerate construction activity. The entry of new construction technology and international infrastructure players is also expected to boost the Indian construction industry and drive market growth.
In addition to India, emerging economies in the Asia Pacific region, such as Vietnam, the Philippines, and Indonesia, are presenting significant opportunities for investment in the construction market, which will further contribute to global market growth during the forecast period.
An emerging trend in the market is the growth of the UAV market, with unmanned aerial vehicles (UAVs) being increasingly adopted for civil applications, presenting numerous opportunities for air-based activities. These opportunities include cost-effective, rapid, and highly automated geospatial data acquisition in small to medium-sized areas, as well as the generation of topographic and photographic data. UAVs can also survey hazardous or difficult-to-reach areas without human intervention.
The United States is a leading player in drone technology, with extensive experience in the usage of drones for over a decade. The country conducts significant research and development to advance drone technology and has implemented programs such as the UCLASS UAV program to enhance US naval aviation through carrier-borne drone capability. Additionally, the US has developed stealth drones, high-altitude surveillance drones, and other drones to meet political and military policy needs, which will drive the global market growth during the forecast period.
In Antarctica, hydrographic surveying is particularly challenging due to adverse and extreme oceanic and meteorological conditions. Coastal areas also face limitations, with survey seasons restricted to one or two months per year when the area is relatively ice-free. Grounded icebergs and onshore winds can further obstruct the survey area, leading to only a limited window of opportunity to collect hydrographic data in the region.
In addition, strong winds, freezing temperatures, and ice flows pose significant risks to survey equipment and personnel, despite careful planning and spares being made available. Any catastrophic equipment failure can result in the loss of an entire survey season, and unexpected equipment failure can also hinder achieving results. As a result, these factors are likely to impede global market growth during the forecast period.
The market is witnessing a significant growth driven by technological advancements such as GPS/GNSS technology and 3D laser/laser scanners, which enhance data collection and enable time-saving processes in various industries, including construction, oil & gas, agriculture, and mining. Infrastructure development and urbanization further propel the demand for land survey equipment and GNSS systems, while automation and robotics revolutionize surveying operations. Subscription and rental models offer cost-effective solutions, leveraging a skilled workforce proficient in technical knowledge and advanced technology. Unmanned aerial vehicles (UAVs) and drones are increasingly utilized for efficient data collection, supported by software advancements and rental and leasing services facilitating access to cutting-edge equipment.
The market share growth by the land application segment will be significant during the forecast period. The rise of passengers and freight, primarily in APAC and Europe, has been driving the global market to grow significantly. The emerging economies, primarily China, have significantly expanded based on the demand for high-speed rail over the past 20 years in terms of both economy and infrastructure.
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The land application segment was valued at USD 7.19 billion in 2018. Furthermore, in Europe, the market for high-speed rail has a high potential as there is a demand to connect Poland, Spain, Italy, Germany, the Netherlands, the UK, and other European regions. Additionally, North America, Mexico, the US, and Canada are investing in high-speed rails, driving the demand for surveying equipment with increased traffic congestion in different corridors. Therefore, these factors are expected to drive the growth of this segment during the forecast period.
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APAC is estimated to contribute 49% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market in APAC is expected to grow at a significant pace during the forecast period. The growth will be significantly driven by major countries in the region, such as China, India, Japan, Australia, Malaysia, and South Korea, which have the technological capabilities and are also investing extensively in land surveying technologies, such as GNSS, UAVs, and others. Moreover, vendors in APAC are also deploying highly competitive pricing strategies with aftermarket support services, which in turn, is fuelling the regional market growth. India and China are the two major economies in APAC, which have advanced satellite infrastructure. China has emerged as one of the leading providers of commercial space launch services in the region. Besides GNSS, both India and China are also rapidly adopting drones for commercial applications, including land surveying. Drones can reduce costs and time, streamline the surveying process, and ensure flexibility and the operator's safety.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Seafloor Systems Inc.- The company offers a wide range of surveying equipment, ADCP, side scan, sub-bottom, UAV/USV, INS/Motion, multi-beam, SVP/SVS, software, GNSS, ex-rentals for purchase, and rentals categories.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, 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.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing robust growth due to various factors such as transportation networks expansion, renewable energy projects, and mining & construction activities. Leveraging cutting-edge technology like visual SLAM and LiDAR systems, surveyors are enhancing data processing and documentation accuracy. The adoption of digital twin creation and advanced software facilitates efficient disaster management and construction planning. Despite technological advancements, challenges like the lack of skilled manpower persist, driving the demand for integrated smart antennas and modular GNSS systems. The rental and leasing service providers play a vital role in addressing the need for modern land survey equipment, particularly for tasks like exploration drilling and pipeline management. With increasing demand for volumetric calculations and layout points, the market is poised for significant expansion.
Furthermore, the market is witnessing significant growth driven by technological advancement and increased demand across sectors like construction, the oil & gas industry, the agriculture industry, and the mining industry. Key technologies such as Visual SLAM and LiDAR systems are revolutionizing data collection and analysis, particularly in industries like nuclear facilities and disaster management. With a diverse construction equipment portfolio and advanced management systems, surveyors can efficiently conduct research and planning tasks. The market is further fueled by innovations like Total stations & theodolites, GNSS technology, and portable 3D imaging laser scanners, catering to the needs of various industries and driving growth in the market.
Further, the land survey equipment industry is experiencing significant growth driven by advancements in hardware and visual SLAM technology. The global land survey equipment market is expanding rapidly, particularly with the increasing demand in sectors like disaster management, industrialization, and construction. Key technologies such as LiDAR systems and aerial platforms are revolutionizing traditional land survey methods, enabling more efficient and accurate data collection. Integration with global navigation satellite systems (GNSS) and GNSS network solutions enhances positioning accuracy, facilitated by board-level GNSS receivers and GNSS antennas deployed in reference stations. Data management plays a crucial role, supported by inspection and monitoring tools, as well as specialized construction, agriculture, mining, and oil & gas software. Additionally, the adoption of portable 3D imaging laser scanners streamlines field operations, further driving innovation in the market.
Modular Mining solutions are increasingly integral to this growth, offering advanced technology for optimizing mining operations and enhancing productivity. These solutions incorporate sophisticated software and hardware to monitor and manage mining activities efficiently, complementing the evolving landscape of land survey equipment and related industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.46% |
Market growth 2024-2028 |
USD 2.73 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key countries |
US, China, Germany, UK, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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