NEW YORK, Feb. 5, 2024 /PRNewswire/ — The global surveying equipment market size is estimated to grow by USD 2.86 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.83% during the forecast period. A significant trend in the surveying equipment market is the increasing adoption of UAVs, particularly for civil applications, offering cost-effective and rapid geospatial data acquisition. UAVs enable automated surveys in challenging or hazardous areas without human intervention, presenting opportunities for topographic data generation. The United States, a leader in drone technology, drives market growth through extensive R&D and innovative drone programs like the UCLASS UAV program, enhancing naval aviation capabilities and meeting military and political needs.
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Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, Raytheon Technologies 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. are some of the major companies.
Company Offerings:
- Ohmex Ltd. – The company is involved in the manufacturing equipment involved in environmental science applications such as environmental data collection, land, and hydrographic surveying systems. The key offerings of the company include surveying equipment.
- Seafloor Systems Inc.- The company offers a wide range of products under the single beam, ADCP, side scan, sub-bottom, UAV/USV, INS/Motion, multi-beam, SVP/SVS, software, GNSS, ex-rentals for purchase, and rentals categories.
Technavio has segmented the market based on Application (Land application and Hydrographic application), Product (Total stations and theodolites levels, GNSS system, UAV, Pipe lasers, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America).
- The land application segment is expected to experience significant growth in the surveying equipment market, driven by increased demand for high-speed rail projects primarily in APAC and Europe. Emerging economies like China have witnessed substantial expansion in both economy and infrastructure, particularly in the high-speed rail sector. Additionally, North America, Mexico, the US, and Canada are investing in high-speed rail projects to address traffic congestion, further boosting demand for surveying equipment.
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“The construction industry drives growth, however, challenges such as the environmental conditions may hinder the growth during the forecast period.”
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What are the key data covered in this Surveying Equipment Market report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth of the Surveying Equipment Market between 2023 and 2027
- Precise estimation of the Surveying Equipment Market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Surveying Equipment industry across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Surveying Equipment vendors
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Applications
The surveying equipment industry encompasses a range of geodetic instruments, land surveying tools, and GIS technology used in various applications such as construction surveying, mapping, and remote sensing. Key tools include total stations, GPS devices, and laser measurement tools, enabling precise measurements for topographic mapping and infrastructure development. Emerging trends include the adoption of 3D scanning technology and digital surveying methods, reflecting advancements in geospatial technology and civil engineering practices.
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SOURCE Technavio
