HOME Research Insight The Survey Equipment Market is a Diversified and Competitive Market with a Large Number of Players

The Survey Equipment Market is a Diversified and Competitive Market with a Large Number of Players

The survey equipment market is estimated to be USD 5.09 Billion in 2016 and is projected to reach USD 6.91 Billion by 2021, at a CAGR of 6.30% between 2016 and 2021. Boom in maritime commerce, increased demand for error-free nautical charts, coastal management and development, increased infrastructure development and mining operations are driving demand for survey equipment across the globe.

The survey equipment market is a diversified and competitive market with a large number of players. In 2015, the key global players in the market were Thales S.A. (France), Trimble Navigation Ltd. (U.S.), Topcon Corporation (Japan), Fugro (Netherlands), and Hexagon AB (Sweden), among others. These companies adopted growth strategies, such as new product launches, supply contracts, and business acquisition to capture the majority share of the survey equipment market. Among these, Thales S.A. (France) has a widespread geographic presence in the survey equipment market.

Thales S.A. (France) is a leading player and accounted for the largest share in 2015 in the survey equipment market. The company focuses on strengthening its offerings through constant investments in R&D and acquiring supply contracts from leading end users. The company offers a broad range of products including submarine sonar suite, hull mounted and towed array sonar for surface ships, unmanned underwater vehicles as well as torpedo acoustic head. The French defense procurement agency OCCAR and the U.K. MoD awarded Thales (France) and BAE Systems (U.S.) the anti-sea mine (Maritime Mine Counter Measures) contract. In early 2016, the company received a contract from the Malaysian Maritime Enforcement Agency (MMEA) to deliver six new generation unmanned air service capability with its fulmar solution. This contract will offer MMEA high performance surveillance features such as automatic detection and tracking, and automatic identification systems (AIS), which will help deliver unrivalled high performance surveillance on a flexible platform.

Trimble Navigation Limited is another leading manufacturer of survey equipment based in the U.S. The companyís solutions are used in agriculture, architecture, civil engineering, survey & land administration, construction, geospatial, environmental management, government, natural resources, transportation & utilities. Trimble Navigation Limitedís growth strategy is centered on large markets historically underserved by technology that offer significant potential for long-term revenue growth, profitability, and market leadership. The company focuses on acquiring businesses that bring technology, products, or distribution capabilities that augment its portfolio and allow it to penetrate the existing markets more effectively, or to establish a market beachhead. During fiscal 2015, the company acquired 13 businesses, all with cash consideration, under its engineering & construction segment. In 2016, the company acquired U.K.-based Sefaira Ltd., a leading developer of cloud-based software for designing of sustainable buildings. This acquisition will expand Trimble's Design-Build-Operate (DBO) portfolio by including tools for designing buildings.

Related Reports:

Survey Equipment Market by End User (Land & Hydrographic), Type (Scanner & Lasers, Positioning, Acoustic, Total Station), Application (Bathymetry, Seabed Mapping, Oil & Gas, Cable Route, Charting, 3D Mapping), and Region - Global Forecast to 2021

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