The global land survey equipment market size is anticipated to make considerable gains in the forthcoming years owing to the increasing adoption of satellite-based positioning systems before and after natural disasters, observes Fortune Business Insights™ in its report, titled “Land Survey Equipment Market Size, Share & Industry Analysis, By Product (GNSS Systems, Modular GNSS Systems, GNSS Network Solutions, Others), By Industry (Construction, Oil & Gas, Agriculture, Mining), By Application (Inspection, Monitoring, Volumetric Calculations, Layout Points), By Software (Construction Software, Agriculture Software), By End User (Commercial, Defence) and Regional Forecast, 2023-2030”. Natural disasters such as earthquakes, floods, tsunamis, and tornadoes cause great loss of life and property. For example, the 2011 Tohoku earthquake off the Japanese coast killed nearly 18,000 people and forced over 50,000 households to relocate, the 2004 Indian Ocean tsunami resulted in more than $10 billion in damages. Land survey equipment can play a significant role in rebuilding the areas and structures destroyed by such disasters. For example, the global navigation satellite system (GNSS) can aid in determining accurate, real-time coordinate values and produce large databases of utilities and infrastructures in and around the affected areas. Surveyors are also being employed in post-disaster scenarios to locate and turn off utilities, map the affected area, and help rescue people stuck in the rubble. This can prove to be particularly critical for local authorities that are usually the first responders after a disaster has struck.
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Sharp Decline in Construction Productivity amid COVID-19 to Hinder Market Growth
The land survey equipment market growth is currently being stifled by the COVID-19 pandemic as its outbreak has staggering implications for the global construction industry. According to a study conducted by the London-based Royal Institute of Chartered Surveyors (RICS) in August 2020, 25% of construction projects worldwide were paused in the second quarter of 2020 due to the coronavirus. Moreover, on-site productivity of workers is expected to fall by 12% in 2020 and construction activities are likely to exhibit sluggish recovery, as per RICS predictions. In addition, the UK and several other European nations have announced temporary lockdowns in response to the coronavirus resurgence during the winter season. Land survey equipment plays a critical role in supporting engineers and architects decide the precise location of a building based on the surface and sub-surface data provided to them by expert surveyors. However, with construction activities shrinking worldwide, the on-site deployment of land survey solutions will inevitably suffer as a result.
Rising Uptake of Advanced Construction Software to Favor the North America Market
Among regions, North America is foreseen to dominate the land survey equipment market share in the near future owing to the introduction and increasing uptake of advanced construction software in the US and Canada. These software solutions have land surveillance technologies embedded in them, enabling construction professionals to gather accurate data and enhance management efficiency and on-site productivity. In Canada, growing interest in civil engineering is expected to boost the regional market further.
Asia Pacific is projected to create vast opportunities for market players on account of the rising utilization of UAVs in China for oil & gas explorations, mining operations, and construction activities. In India, increasing investments in 3D laser scanners for land surveying will aid the growth of the market.
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List of Key Players Covered in the Land Survey Equipment Market Report:
- Trimble Inc. (The U.S.)
- Suzhou FOIF Co., Ltd. (China)
- South Surveying & Mapping Technology CO., LTD. (China)
- Robert Bosch Tool Corporation (The U.S.)
- HEXAGON (Sweden)
- Changzhou Dadi Surveying Science & Technology (China)
- TOPCON CORPORATION (Japan)
- Stonex (India)
- Shanghai Huace Navigation Technology Ltd. (China)
- Hi-Target Navigation Technology Corporation (China)
- GUANGDONG KOLIDA INSTRUMENT CO., LTD. (China)
Expanding Investments in Innovation by Key Players to Animate Market Competition
Key players in this market are singularly focused on investing in elevating their innovation capacities to develop and introduce advanced, multifunctional land survey technologies. The new, cutting-edge tools are enabling companies to fortify their global market presence, bolster their portfolios, and broaden their business horizons.
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- November 2020: Sweden-based Hexagon released its breakthrough innovation called “RTK from the Sky” that facilitates precise point position, centimeter-level accuracy of GNSS across the globe. The technology removes the necessity of infrastructures, along geographic, internet, and radio communication limitations, allowing users to access positioning data anywhere in the world.
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