LiDAR Drone Market With 35.2% CAGR Growt to 2022 Led by Velodyne LiDAR, Phoenix Aerial Systems, SICK AG, YellowScan, 3D Robotics, Inc., FARO Technology and More

The LiDAR drone market is expected to grow at a CAGR of 35.2% between 2016 and 2022 to reach USD 144.6 million by 2022. A key driving factor for the growth of the market is the encouragement from governments and research institutes for the adoption of LiDAR drones. Besides, several other factors such as the adoption of LiDAR drones for precision farming and commercial application such as delivery of products also propel the growth of the market.

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Precision agriculture involves the usage of drones to monitor soil erosion and crop maturity, mitigate the effects of frost, and monitor invasive plant species among others. The potential benefits of using drones include real-time data collection, high-resolution imagery of farmland, and low cost in comparison with other relative techniques. These benefits drive the LiDAR drone market in the precision agriculture application.

The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing industrialization and urbanization in this region. The increasing awareness among governments and customers regarding the benefits of LiDAR drones further drives this market in the APAC region. For instance, the Indian Transport Ministry has made the use of LiDAR compulsory in surveying areas before constructing a new highway. The Indian railway has also hired drones for inspecting the progress of its construction sites. Such initiatives drive the LiDAR drone market in APAC. Furthermore, the availability of local players and favorable economic conditions also contribute to the high growth of the market in this region.

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Several primary interviews with experts have been conducted across four major regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (the Middle East, Africa, and South America). The primary participants considered for the study are C-level executives and managers of tier 1, tier 2, and tier 3 companies.

The breakdown of primary interviews is as follows:

By Company Type : Tier 1 – 55%, Tier 2 – 20%, Tier 3 – 25%

By Designation: C Level – 75%, Manager Level – 25%

By Region – North America – 10%, Europe – 20%, Asia-Pacific –
40%, RoW – 30%

The major players operating in this market are Velodyne LiDAR (U.S.), Phoenix Aerial Systems (U.S), Riegl Laser Measurement Systems GmbH (Austria), SICK AG (Germany), and YellowScan (France). 3D Robotics, Inc. (U.S.), DJI (China), FARO Technology (U.S.), Leica Geosystems AG (Switzerland), Optech, Inc. (Canada), and Trimble Navigation Limited (U.S.).

Related Report:

Drone Sensor Market by Sensor Type, Platform Type, Application (Navigation, Collision detection & Avoidance, Data Acquisition, Motion Detection, Air Pressure Measurement), End-User Industry, and Geography - Global Forecast to 2023

The drone sensor market is expected to grow from USD 345.7 million in 2018 to USD 1,007.6 million by 2023, at a CAGR of 23.86% between 2018 and 2023. Key factors driving the growth of the drone sensor market include the rising need for higher resolution imaging for mapping & surveying and accurate positioning for accurate navigation, increased crop vigor analysis for precision farming, and growing demand for drones from the commercial and logistic sectors for payload delivery. Increased adoption of drones in the defense sector for intelligence, surveillance, and reconnaissance missions is contributing to the growth of the drone sensor market. Strategies such as product launches and developments, mergers & acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships adopted by market players are fueling the growth of the drone sensor market. However, unclear law pertinent to the drones industry and increasing threat of tampering/hacking of drones are restraining the growth of the market.

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