To realize the rapid engineering application of transient electromagnetic (TEM) detection technology in detecting the shallow underground unexploded ordnance (UXO) and solve the problems of weak anti-interference ability and low inversion efficiency of traditional equipment, this paper proposes an integrated transceiver detection equipment with a symmetric structure and a dynamic magnetic dipole (MD) inversion method. First, the key structural design of equipment is elaborated by adopting a coaxial symmetric coil layout, which realizes the stable control of detection attitude through simple mechanical fixation. This can also directly collect the pure horizontal secondary field signals, which avoids strong interference of the primary field at the hardware level and improves the ability to identify weak target signals in the shallow surface. Accordingly, a dynamic equivalent MD model of target is established aiming at the mobile measurement scenario, which clarifies the mapping relationship between model parameters and the spatial position of UXO, and proposes a feature extraction algorithm based on the continuous dynamic measurement signals to accurately capture the spatial position information of UXO. Meanwhile an optimized Levenberg-Marquardt (LM) algorithm with the improved iterative strategy is adopted to solve the model parameters, which improves the computational efficiency more than twice compared to the traditional LM algorithm and accelerates the interpretation of UXO position. Finally, the verification experiments are carried out at a simulated shallow surface experimental site, which shows that the signal-to-noise ratios of the horizontal and vertical coils are 14.2 dB and 26.8 dB, respectively, confirming that the equipment possesses the better anti-interference ability. Additionally detecting targets at different positions within a radius of 2.5 m verifies that the maximum horizontal positioning error and vertical burial depth inversion error of shallow underground UXO are 5.4 cm and 13.5 cm, respectively, which fully meets the engineering accuracy requirements. The array sensor layout scheme and optimized algorithm in this study effectively reduce on-site operation time and labor cost, providing a feasible and efficient technical solution for the rapid and continuous detection in related fields.