The report titled Global LiDAR Drone Market covers definition, applications, classification, value chain structure and market performance by key leading countries/regions. In a detailed research methodology – wise, the LiDAR Drone analysis with various aspects corresponding to the Globally LiDAR Drone Market.
In further, the LiDAR Drone Market includes drivers, restraints, threats, opportunities, trends, geographical/regional LiDAR Drone markets, and competitive landscape.
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In 2017, the global LiDAR drone market was valued at USD 20.982 million and is projected to reach a value of USD 126.15 million by 2023, recording a CAGR of 34.85% over the forecast period, 2018-2023. The scope of the report is limited to the solutions that are offered by major players, including providers of laser scanners, navigation systems, positioning systems, and cameras. While the regions that are considered in the scope of this report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The increasing use of drones, across various applications, such as aerospace & defense, agriculture & forestry, and natural resources management, among others, is expected to propel the industryâs growth. Moreover, technological advancements with regards to drones, and the rising need for surveillance are further driving the market growth. However, high costs associated with LiDAR drones are restricting their adoption. Companies are striving to innovate and develop products, offering scope of opportunities for the market growth. Aiming at the burgeoning market for unmanned aerial vehicles (UAVs), in 2016, Velodyne LiDAR launched the worldâs lightest 16-channel LiDAR sensor.
Technological Advancements In Drone Technology To Drive The Market
Huge leaps in the drone innovation and technology, there has been a big move from the high-cost fixed wing aircraft to the low-cost and more efficient UAV LiDAR drones. LiDAR sensors on UAVs capture images that previously needed an aircraft, large heavy LiDAR sensors and a crew to accomplish. A LiDAR sensor mounted on a UAV, along with a sophisticated software, can process LiDAR images quickly in the cloud. Therefore, effective decisions can be made by stakeholders and relevant parties in a short turnaround time. It is estimated that by the end of the forecast period, the LiDAR sensor sales are expected to rise threefold than that of 2014. In a short period of time, manufacturers of the best aircraft LiDAR sensors have engineered LiDAR sensors for small drones. The output from these UAV LiDAR sensors is outstanding and are expected to keep on improving as more manufacturers penetrate this sector.
Corridor Mapping Application Accounted For the Largest Market Share
In 2016, the corridor mapping application accounted for the largest market share. Corridor mapping is an important step during the planning and construction of roadways, railways, and oil and gas pipelines, among other crucial networking industrial applications. As highway corridors and projects are constructed with a long-term perspective, it is necessary to conduct a thorough feasibility study of the terrain on which the highway is to be constructed. LiDAR drones provide all this information by building three-dimensional (3D) elevation models of the surveyed area. Therefore, the corridor mapping and surveying application in the industry occupies the largest share in the LiDAR drone market.
North America Is Expected To Dominate the Market
In North America, the agriculture & forestry industry is likely to remain prosperous and a major contributor towards the GDP. Aerial photography helps farmers to identify their crops and take decisions of whether or not increasing the water supply. Its application in farming has increased, reflecting greatly on the North American market. Moreover, North America is expected to continue its dominance in the LiDAR drone market, owing to rising investments in innovations in the defense sector. Military and defense applications in the region are likely to grow at an augmented pace, due to demand fueled by government investment. There have been increasing levels of investment in surveillance and security in the defense sector. Thus, North America is likely to continue leading the market, over the years to come.
Major Key Players in the Market Include
â¢ Velodyne LiDAR
â¢ Phoenix Aerial Systems
â¢ Faro Technology
â¢ Leica Geosystems AG
â¢ Trimble Navigation Limited
Other players in the market include Riegl Laser Measurement Systems GmbH, Sick AG, and Optech, Inc.
Top Players of LiDAR Drone Market are listed below:
- Velodyne LiDAR
- Phoenix Aerial Systems
- Sick AG
- Faro Technology
- Riegl Laser Measurement Systems GmbH
- Leica Geosystems AG
- Trimble Navigation Limited
Reasons to Purchase This Report
Geographically, this Global report majorly split into several regions, covering
- North – South America
- Asia – Pacific
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The LiDAR Drone Report provides the landscape and growth with the product lifecycle over the coming years, market space, market opportunities, market risk, the market overview of the LiDAR Drone. It explains the gap between supply and consumption, tables and figures, SWOT analysis of the leading enterprises in the LiDAR Drone Report. Further, the LiDAR Drone Report is examined for price, cost and gross. Additionally, it provides a valuable source of suggestions and direction for enterprises and individuals who are taking part in this market.