LiDAR Drones Market 2021 Strategic Assessment- Velodyne LiDAR Inc., Phoenix LiDAR Systems, Sick AG, FAROÊTechnologies Inc | CAGR 34.88%
In 2019, the LiDAR drones market was valued at USD 38.16 million, and is projected to reach a value of USD 229.55 million by 2025, recording a CAGR of 34.88% over the forecast period, 2020-2025.
- The LiDAR drones market is growing significantly over the forecast period, owing to the increasing use of drones across various end-user verticals, such as aerospace and defense, agriculture and forestry, and natural resources management, mining, and oil and gas exploration, among others.
- The technological advancements in the drone market and the rising need for surveillance are further anticipated to drive the market growth.
- The data acquired through LiDAR drones are reliable and accurate, and thus, can be utilized for the development of national guidelines and standards in different domains, more prominently in the aerospace and defense, oil and gas exploration, and transportation and logistics industries.
- The growing advancements in the LiDAR drones market are also offering a scope of opportunities for the market growth. Aiming at the burgeoning market for UAVs in 2018, Velodyne LiDAR launched the worlds lightest 16-channel LiDAR sensor.
- The primary factor hindering the growth of the LiDAR drones market is the high cost associated with the equipment used for the technology.
Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
Velodyne LiDAR Inc., Phoenix LiDAR Systems, Sick AG, FAROÊTechnologies Inc., Riegl Laser Measurement Systems GmbH, Optech Inc., Leica Geosystems AG, Trimble Navigation Limited, SZ DJI Technology Co., Ltd
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Scope Of the Report
LiDAR drones is a remote sensing technology that uses rapid laser pulses to map out the surface of the earth. LiDAR is useful when used to create high-resolution digital surfaces, terrain, and elevation models used for various business applications, such as aerospace and defense, natural resources management, and agriculture and forestry, mining, and oil and gas exploration, among others.
Corridor Mapping Application Accounted for the Largest Market Share
- 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.
- Also, the US government is spending a significant amount year on year on highway projects.
- 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 LiDAR Drone Market
- The United States is expected to be the largest market for LiDAR drones, mainly due to the rising investments in innovations in the defense sector. Additionally, the country has the worlds highest military budgets with considerable investments in technological defense tools.
- The United States military spending on drones is set to reach a five-year high. The Department of Defense budget for 2018 was USD 6.97 billion for drone-related procurement, research and development, and system-specific construction. Also, an increase in these figures is expected over the forecast period.
- Moreover, an emerging trend to collect data at higher points by flying lower and slower is widely adopted in the industry. Many of the scientists reported that by adopting this method, the system can measure the ground with 520 or even up to 40 points per square meter. This method is expected to provide an accurate and precise mapping of the object and is widely employed for topographic surveys in the US accuracy of aerial LiDAR systems.
Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa
- February 2019 - An Australian startup launched Hovermap which uses LiDAR drones that help and explores maps and inspect mine shafts underground. It maps its surroundings by creating 3D models to track its way. It can travel in very little dark spaces, even where there is no GPS available.
- August 2018 - Sick AG launched a new range of high-precision light detection and ranging sensors. With the launch of the LMS1000 and MRS1000 infrared LiDAR sensors, the company has raised the bar in high-precision, reliable distance sensing, and ranging.
Browse the Full report description and TOC at:
Major points covered in this research are:-
─LiDAR Drones Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2025), Competition by Manufacturers
─Global Market Size (Value) of LiDAR Drones (2019-2025)
─Global LiDAR Drones Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
─Global LiDAR Drones Production, Revenue (Value), Price Trend by Type
─Global LiDAR Drones Market Analysis by Application
─Global LiDAR Drones Manufacturers Profiles/Analysis
─LiDAR Drones Manufacturing Cost Analysis
─Industrial Chain, Sourcing Strategy and Downstream Buyers
─Marketing Strategy Analysis, Distributors/Traders
─Market Effect Factors Analysis
─Global LiDAR Drones Market Forecast (2019-2025)
─Research Findings and Conclusion
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Finally, this LiDAR Drones report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent LiDAR Drones product development and gives an outline of the potential Global market.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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