Press release
Light Detection And Ranging (LiDAR) Drone Market Set to Reach $0.81 Billion by 2029 with 24.8% Yearly Growth
Light Detection And Ranging (LiDAR) Drone Market
The escalating employment of drones for commercial objectives is set to drive the growth of the LiDAR drone market. Commercial drone usage involves deploying unmanned aerial vehicles (UAVs) across a range of industries and sectors, taking advantage of their potential for effective, secure, and cost-beneficial task completion compared to conventional methodologies. Because of their proficiency in acquiring high-definition elevation data, LiDAR drones are increasingly being employed for commercial activities in numerous fields like agriculture, forestry, construction, and environmental surveillance. In May 2023, a UK drone survey conducted by the Civil Aviation Authority (CAA), a UK government entity supervising aviation operations for safety and regulatory adherence, found that drone usage in the UK increased to 5% in 2023, up from 3% in 2021, according to a sample of 2,000 adults. Commercial deliveries via drones are predicted to see a 30% rise in 10 years, as opposed to a 13% increment in 5 years. Furthermore, users of drones in the filming and media sector are projected to increase from 42% in 2022 to 46% in 2023. Hence, the accelerated use of drones for commercial applications is fostering the expansion of the LiDAR drone market.
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What is the future CAGR of the light detection and ranging (lidar) drone market, and how will it impact industry expansion?
In recent times, there has been a significant expansion in the market size of the light detection and ranging (LiDAR) drone. The market, which stands at $0.27 billion in 2024, is projected to increase to $0.34 billion in 2025, boasting a compound annual growth rate (CAGR) of 25.0%. This notable growth in the previous period can be credited to several factors including lowered costs and increased accessibility, enhanced data precision and resolution, regulatory support and integration, increased industry acceptance and utilization, a rise in demand for remote sensing technologies, and a competitive market landscape leading to market growth.
Expectations point towards a significant expansion in the LiDAR drone market in the upcoming years, with the projected market size set to reach $0.81 billion by 2029, at a compound annual growth rate (CAGR) of 24.8%. Factors contributing to this forecasted growth include the rising demand for automated solutions, progression into new sectors and uses, mitigation of environmental and climate change, cooperative partnerships and ecosystem development, government-backed investments and infrastructure projects, and standardization and consolidation of the market. Trend forecasts include the uptake of lightweight LiDAR sensors, growth in agriculture and forestry sectors, compatibility with other sensor types, advancement of processing algorithms, integration of autonomous flight systems, expansion of infrastructure inspection services, technological innovations, and the collaboration between manufacturing companies and original equipment manufacturers (OEMs).
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What are the most significant trends transforming the light detection and ranging (lidar) drone market today?
Leading entities in the LiDAR drone market like Phoenix LiDAR System are emphasizing technological advancements such as the Airborne Topo-Bathymetric (ATB) system to boost their market standing. These systems provide a wide-ranging solution for capturing in-depth elevation data in terrestrial and aquatic settings, making them vital resources for operations in geospatial analysis and environmental control. In a recent development in June 2022, Phoenix LiDAR System, an American company specializing in LiDAR solutions for ADAS and autonomous mobility, introduced the HydroRANGER, a multi-purpose topographic and bathymetric LiDAR system. The system can deliver high-definition topo-bathymetric mapping suitable for activities like navigation, oceanic research, and shoreline system mapping. It uses a visible green-spectrum laser and features an elliptical scan pattern and measurement rates maxing out at 200 kHz, offering great spatial resolution and precision.
Which key market segments comprise the light detection and ranging (lidar) drone market and drive its revenue growth?
The light detection and ranging (LiDAR) drone market covered in this report is segmented -
1) By Product: Fixed Wing Drone, Rotary Wing Drone
2) By LiDAR Type: Topographic, Bathymetric
3) By Range: Short, Medium, Long
4) By Application: Mapping And Cartography, Surveillance, Environment, Exploration And Detection, Precision Agriculture, Other Applications
Subsegments:
1) By Fixed Wing Drone: Fixed Wing Drone, Small Fixed Wing Drones, Medium Fixed Wing Drones, Large Fixed Wing Drones, Hybrid Fixed Wing Drones (Vertical Takeoff And Landing)
2) By Rotary Wing Drone: Rotary Wing Drone, Single Rotor Drones, Multi-Rotor Drones (Quadcopters, Hexacopters, Octocopters), Coaxial Rotor Drones, Hybrid Rotary Wing Drones
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What regions are at the forefront of light detection and ranging (lidar) drone market expansion?
North America was the largest region in the light detection and ranging (LiDAR) drone market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the light detection and ranging (LiDAR) drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the light detection and ranging (lidar) drone market?
Major companies operating in the light detection and ranging (LiDAR) drone market are Trimble Navigation Ltd., Sick AG, Topcon Positioning Systems Inc., Leica Geosystems AG, FARO Technologies Inc., MicroDrones GmbH, UMS Skeldar, Teledyne Optech, Velodyne LiDAR Inc., 3D Robotics Inc., Routescene Ltd., NexCore Group, Benewake Co. Ltd., Delair SAS, GreenValley International, YellowScan Inc., Geodetics Inc., Phoenix LiDAR Systems, LiDARUSA, OnyxScan, SABRE Advanced 3D Surveying Systems, Cepton Technologies Inc., Hoverfly Technologies Inc., Riegl Measurement System, SZ DJI Technology company Ltd., Beijing SureStar Technology Co. Ltd.
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What Is Covered In The Light Detection And Ranging (LiDAR) Drone Global Market Report?
•Market Size Forecast: Examine the light detection and ranging (lidar) drone market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the light detection and ranging (lidar) drone market for a structured understanding.
•Key Players Overview: Analyze major players in the light detection and ranging (lidar) drone market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the light detection and ranging (lidar) drone market.
•Segment Contributions: Evaluate how different segments drive overall growth in the light detection and ranging (lidar) drone market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the light detection and ranging (lidar) drone market.
•Industry Challenges: Identify potential risks and obstacles affecting the light detection and ranging (lidar) drone market.
•Competitive Landscape: Review strategic developments in the light detection and ranging (lidar) drone market, including expansions, agreements, and new product launches.
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