LiDAR Drones Market Astonishing Growth with Top Influencing Key Players like Velodyne LiDAR Inc., Phoenix LiDAR Systems

The LiDAR drones market was valued at USD 74.96 million in 2020, and is projected to reach a value of USD 525.86 million by 2026, recording a CAGR of 38.19% over the forecast period (2021 - 2026).

Latest research on LiDAR Drones Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2022 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the LiDAR Drones market. This report included a special section on the Impact of COVID19. Also, LiDAR Drones Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the LiDAR Drones industry.

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The LiDAR Drones market is highly competitive and consists of a number of major players. Top Companies like Velodyne LiDAR Inc., Phoenix LiDAR Systems, Sick AG, FARO Technologies Inc., Riegl Laser Measurement Systems GmbH, Optech Inc., Leica Geosystems AG, Trimble Navigation Limited, SZ DJI Technology Co., Ltd

Industry News And Developments:

- 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.

Regional Analysis:

Furthermore, to broaden the understanding, researchers have studied the global LiDAR Drones market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

LiDAR Drones Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

Scope of the Report

- 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.

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Key Market Trends

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 world’s 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.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: LiDAR Drones Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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