Latest News- Surveying Equipment Market: Land application is expected to lead the Application segment during 2024-2028

The Surveying Equipment Market is being driven by Growth in railway sector in APAC

The Surveying Equipment Market is expected to grow at a CAGR of 4.46% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2726.5 million. The integration of unmanned aerial vehicles (UAVs) in civil applications presents significant business opportunities for air-based geospatial data acquisition. These technologies enable rapid, cost-effective, and automated data collection in small and medium-sized areas, generating both photography and topographic data. UAVs facilitate surveying of hazardous or inaccessible sites without human intervention. The US, as a global leader in drone technology, boasts extensive military experience and cutting-edge research in this domain. The UCLASS UAV program, initiated by the US, aims to provide carrier-borne drone capabilities to US naval aviation, further solidifying its position in the UAV market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Land application
  • Hydrographic application
• Product
  • Total stations and theodolites levels
  • GNSS system
  • UAV
  • Pipe lasers
  • Others
• Geography
  • APAC
    • China
    • India
  • Europe
    • Germany
    • UK
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth in railway sector in APAC
• Growth in construction industry
• Opening of new avenues for natural gas markets

However, the market also witnesses some limitations, which are as follows:

• Uncertain macroeconomic conditions
• Volatility in global crude oil prices
• Environmental conditions hinder surveying

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Market Scope in Surveying Equipment Market Research Report

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Research Analysis Overview

The Surveying Equipment Market is experiencing significant growth due to the integration of advanced technology, skilled manpower, and time-saving processes. Software solutions are becoming increasingly important, enabling automation and robotics in data collection and analysis. The use of Unmanned Aerial Vehicles (UAVs) and Drones in surveying is revolutionizing the industry, providing accurate and efficient data collection for various sectors like Oil & gas, Renewable energy projects, Transportation networks, and Urbanization. Industrialization has led to the demand for advanced land survey equipment such as Levels, Total stations & theodolites, and Global Navigation Satellite Systems (GNSS). These tools require a skilled workforce and technical knowledge to operate effectively. The Oil & gas industry and other sectors are heavily investing in UAVs and GNSS technology for exploration and infrastructure development. UAVs equipped with GPS/GNSS technology are transforming surveying, offering cost-effective and efficient solutions for large-scale projects. The integration of UAVs with advanced software and sensors is enabling real-time data collection and analysis, reducing errors and increasing productivity. The future of surveying lies in the continued integration of advanced technology, skilled manpower, and time-saving processes.

Market Research Overview

The industrial machinery, supplies, and component market encompasses businesses involved in the manufacturing of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers supplying equipment for industrial applications. Factors driving growth in this sector include expanding industrial output in process and discrete industries, particularly in developing countries, resulting in increased demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/