LiDAR Drone Market Size, Key Players, Drone Type, Application and Forecasts to 2027

The LiDAR Drone market is projected to grow from USD 147 million in 2022 to USD 508 million in 2027; it is expected to grow at a CAGR of 28.1% during the forecasted period. LiDAR drone's adoption in mining applications is driving the growth as mine operators are leveraging LiDAR drone technology to improve data quality, increase safety, and reduce operational expenses; while the growing adoption of new and advanced technologies has led to an increased demand for LiDAR drones for precision farming applications.

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"Market for medium-range LiDAR drone is expected to grow at highest CAGR during the forecasted period."
Medium-range LiDAR drones offer high accuracy and operate in a 200-500m range. These LiDAR drones are heavy and are suitable for medium-scale corridor mapping, forestry, coastline management, and agriculture applications. In many countries, commercial drones can fly at an altitude of 200-500m without requiring additional permission from regulatory bodies.

"Market for corridor mapping application is to grow at highest CAGR during the forecast period. "
LiDAR drones are used to create 3D maps of terrains using short-range, medium-range, or long-range lasers. They are used for corridor mapping by surveying and creating a 3D point cloud of roads, railways, power lines, and mines. LiDAR drones flying at low altitudes are preferable for corridor mapping applications, as they collect data accurately. They are used to carry out corridor mapping for the transportation sector to support the planning and management of roads or railway tracks, which require high spatial resolution and accurate mapping. Thus, such various applications of LiDAR drone in corridor mapping is expected to create significant demand in coming years.

"APAC to offer significant growth opportunities for LiDAR drone market between 2022 and 2027."
In Asia Pacific, LiDAR drones are majorly used in environmental, corridor mapping, and precision agriculture applications. The market growth in the region can be attributed to the increased adoption of LiDAR drones for surveying and mapping operations owing to ongoing infrastructural development projects, growing awareness in Asia Pacific countries about forest management, and increasing mining activities in the region. Precision agriculture is also expected to drive the market in the region.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the LiDAR Drone market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 - 55%, Tier 2 - 30%, and Tier 3 - 15%
• By Designation: C-level Executives - 45%, Directors - 35%, and Others - 20%
• By Region: North America -34%, APAC- 31%, Europe - 24%, and RoW - 12%

The report profiles key players in the LiDAR drone market with their respective market ranking analyses. Prominent players profiled in this report are Velodyne Lidar, Inc.(US), RIEGL Laser Measurement Systems GmbH(Austria), Teledyne Optech Inc.(Canada), Phoenix LiDAR Systems(US), Microdrones (Germany), YellowScan(France), UMS Skeldar(Switzerland), LIDARUSA(US), SICK AG (Germany), and GeoCue Group (US).

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Research Coverage:
This research report categorizes the LiDAR drone market on the basis of LiDAR type, component, drone type, range, application, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the LiDAR Drone market and forecasts the same till 2027. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the LiDAR Drone ecosystem.

Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall LiDAR Drone market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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This release was published on openPR.