According to the new research report on "Land Survey Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 12,568.4 million by 2028 and register a CAGR of 7.7% from 2022 to 2028.
The mapping and surveying professions are increasingly utilizing unmanned aerial vehicles (UAVs) and remote control drones, which have numerous potential applications in land surveys, agriculture, and environmental monitoring. These technologies allow for precise and rapid data collection, while also improving safety by eliminating the need for human personnel to enter hazardous environments. UAVs also enable surveyors to access areas that would otherwise be inaccessible. By combining photogrammetry, 3D mapping, topographic surveying, and land surveys, among other capabilities, UAVs offer a versatile tool for surveyors. However, before using UAVs and drones, it is essential to obtain legal permission from the relevant authority. Challenges associated with the use of drones and UAVs for surveys include pilot training, compliance with regulations, and delivering professional results to clients. Overcoming these challenges is crucial for the trend towards increased use of UAVs and drones to continue in the land survey equipment market.
Based on solution, the land survey equipment market is segmented into hardware, software, and services. The hardware segment accounted for the largest land survey equipment market share in 2021. Hardware is used for measurement and surveying at construction sites. The hardware tools used for land surveying help to generate accurate data.
The land survey equipment market is categorized into several industries, including mining, construction, agriculture, oil & gas, and others. The construction sector dominated the market in 2021, utilizing a range of equipment such as 3D scanners, total stations, UAVs, layout stations, and laser measuring systems for surveying land. For instance, in early 2022, the Chinese food company Fufeng Group acquired 300 acres of land in North Dakota, USA, to build a milling plant, reflecting a robust pipeline of construction projects that is likely to stimulate demand for land survey equipment in the near future.
The land survey equipment market is segmented by application into volumetric calculation, inspection, layout points, monitoring, and others. The "others" segment is further classified into scanning and mobile mapping. In 2021, the inspection segment dominated the land survey equipment market due to the availability of a wide range of equipment for land inspection purposes from various companies. For instance, Solverra Technologies Pvt. Ltd., an Indian-based firm, provides survey drones for conducting inspection surveys in industries like mining, infrastructure, energy, and power.
Key Findings of Land Survey Equipment Market Study
The land survey equipment market in the Asia Pacific (APAC) region is divided into various countries such as Australia, China, India, Japan, South Korea, Singapore, the Philippines, Malaysia, and the Rest of APAC. In 2021, APAC accounted for the largest share in the land survey equipment market and is anticipated to achieve the highest CAGR during the projected period. The growth of the construction sector in developing countries like India and China, coupled with the existence of a significant agricultural industry, is expected to fuel the demand for land survey equipment in the region. Moreover, countries such as China, India, Japan, and Malaysia generate a significant portion of their revenue from agriculture. For instance, as per the International Trade Administration report of November 2021, Malaysia is the second-largest producer and exporter of palm oil globally, with the agriculture, forestry, and fisheries sectors contributing around 8% to the country's GDP. The land survey equipment market study indicates that companies like GUANGDONG KOLIDA INSTRUMENT CO., LTD., Changzhou Dadi Surveying Science & Technology, Hi-Target Navigation Technology Corporation, Shanghai Huace Navigation Technology Ltd., South Surveying & Mapping Technology CO., LTD., and Suzhou FOIF Co., Ltd. are driving the growth of the land survey equipment market in the region. Additionally, the presence of government departments such as "The Department of Survey and Land Records" in India that require land survey equipment is also expected to contribute to the market's growth in the region.
The Land Transport Authority has announced Singapore's plan to extend its rail network to 360km by 2030, which will bring 8 out of 10 households within 10 minutes of a train station. This railway line will exceed the length of major cities such as Hong Kong and Tokyo and is expected to include the construction of approximately 18 train stations.
Meanwhile, in the Philippines, the South Commuter Railway Project will create a 55km rail route connecting Calamba to Metro Manila. The project received a US$4.3 billion loan from the Asian Development Bank (ADB), which will be disbursed in instalments with the first of US$1.75 billion provided in 2022 and the remaining instalments by 2024 and 2026.
Japan is a significant provider of land survey equipment due to its rapid adoption of advanced technologies in industries such as mining, automotive, and construction. Additionally, the integration of new technologies, including UAVs, GNSS, and laser scanners, into land survey equipment is expected to fuel market growth. As a result, the demand for land survey equipment is anticipated to increase due to various construction developments, such as highways, theme parks, and power plants, contributing to the overall growth of the land survey equipment market in APAC.
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