Land Survey Equipment Market to hit US$ 12,568.4 Million, Globally, by 2028 at 7.7% CAGR: The Insight Partners

The growth of the Land Survey Equipment Market is driven by developments in real estate and expansion in the industrial and agriculture sectors.

NEW YORK, UNITED STATES, April 17, 2023 /EINPresswire.com/ -- The Land Survey Equipment Market has been the subject of a recent research report by The Insight Partners. The report, titled "Land Survey Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis," forecasts that the market will grow to US$ 12,568.4 million by 2028, with a projected CAGR of 7.7% from 2022 to 2028.

Report Coverage - Land Survey Equipment Market

Report Coverage Details
Market Size Value in US$ 8,068.0 Million in 2022
Market Size Value by US$ 12,568.4 Million by 2028
Growth rate CAGR of 7.7% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2022
No. of Pages 269
No. of Tables 158
No. of Charts & Figures 126
Historical data available Yes
Segments Covered Solution, Industry, Application, and Hardware
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The use of unmanned aerial vehicles (UAVs) and remote control drones is increasing in the mapping and surveying professions. These technologies have many potential applications within several sectors related to land surveys, agriculture, and environmental monitoring. With the help of drones and UAVs, surveyors can get their data precisely and quickly. UAVs and drones are safer as it eliminates the requirement of manpower to enter dangerous environments for measurements. With the help of these technologies, surveyors can access areas that are inaccessible to humans. UAVs combine photogrammetry, 3D mapping, land surveys, topographic surveying, etc. However, legal permission must be taken from the respective authority before using UAVs and drones by the surveyors. There are a few challenges associated with using drones and UAVs for a survey, such as pilot training for the operator and its assessment, keeping up with regulations for the operation, and providing professional output to the customer. If surveyors overcome these challenges, the use of UAVs and drones is expected to become a trend in the land survey equipment market.

Key Findings of Land Survey Equipment Market Study

The APAC land survey equipment market is segmented into Australia, China, India, Japan, South Korea, Singapore, the Philippines, Malaysia, and the Rest of APAC. APAC held the largest land survey equipment market share in 2021 and is expected to register the highest CAGR during the forecast period. Growing construction activities in the residential & commercial sectors in developing countries in APAC, such as China and India, and the presence of a vast agricultural sector, are likely to support the land survey equipment market growth in the region during the forecast period. Further, the region has countries such as India, China, Japan, and Malaysia, whose primary source of income is agriculture. In November 2021, the report published by International Trade Administration stated that Malaysia is the world’s second-largest producer and exporter of palm oil after Indonesia. In 2020, the country produced 26% of the world’s palm oil and exported ~34% of the global export. The country’s forestry, agriculture, and fisheries sector contribute ~8% to the country’s GDP. Moreover, as per the land survey equipment market study, 

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According to Land Transport Authority, Singapore is planning a project to expand its rail network to 360km by 2030. Furthermore, with this project, 8 out of 10 households in Singapore will be 10 minutes far from the train stations. This railway line is expected to be longer than major cities of the country, such as Hong Kong and Tokyo, and ~18 train stations will be constructed.

Further, the Philippines is planning to construct a rail route. This 55 km rail route will connect the city of Calamba with Metro Manila. For this South Commuter Railway Project, the Asian Development Bank (ADB) approved a US$ 4.3 billion loan to the country, which will be offered in installments. The first installment of US$ 1.75 billion was provided in 2022, whereas the second and third installments will be provided by 2024 and 2026, respectively. Moreover, Japan is one of the key providers of land survey equipment due to the rapid adoption of advanced technologies in many industries in the country and the presence of several industries, such as mining, automotive, and construction. Moreover, new technologies, such as UAV, GNSS, and laser scanners integrated into land survey equipment are expected to increase the demand in the land survey equipment market. Thus, rising construction developments, such as the construction of highways, theme parks, and power plants, will increase the demand for land survey equipment and contribute to the land survey equipment market growth in APAC.

Land Survey Equipment Market: Competitive Landscape and Key Developments

Hexagon AB; GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; Topcon Corporation; Trimble Inc.; Hi-Target; PENTAX Surveying; Suzhou FOIF Co., Ltd.; and Robert Bosch Tool Corporation are a few of the key land survey equipment market players. Several other major land survey equipment market players were also analyzed for a holistic view of the land survey equipment market report.

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