U.S. Airborne LiDAR Market Size to Reach $1,031.3 Million by 2030

the airborne LiDAR market in the U.S. is expected to grow at the highest rate during the forecast period, owing to rise in demand for 3D imaging and falling price of drones. Moreover, the corridor mapping application segment tends to witness high penetration of airborne LiDAR products in variety of fields, such as river corridor planning, highway & railway route analysis, infrastructure asset management, among others, which is projected to significantly contribute toward the growth of the market.

According to a new report published by Allied Market Research, titled, "U.S. Airborne LiDAR Market by Component, Application, and End User: U.S. Opportunity Analysis and Industry Forecast, 2020-2030," the U.S. airborne LiDAR market size was valued at $211.7 million in 2020, and is projected to reach $1,031.3 million by 2030, growing at a CAGR of 17.70%. The GPS/GNSS receivers segment is expected to be the leading contributor toward the U.S. airborne LiDAR market during the forecast period, followed by cameras, and microelectromechanical systems.

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Airborne LiDAR is a polar, dynamic, and active multi-sensor system that includes a navigation unit (global navigation satellite system, and inertial measurement unit) for continuous positioning and altitude measurement of the sensor platform, as well as the laser scanner. Also, components such as airborne lidar sensors are widely used these days in aerial lidar systems to create 3D topographical aerial maps.

Growth of the U.S. airborne LiDAR market is anticipated to be driven by factors such as growth in defense & aerospace industry and technological advancements in forestry & agriculture applications. Also, growing adoption of LiDAR in engineering and construction applications fuel the U.S. airborne LiDAR market growth. However, lack of awareness among end users acts as a major restraint for the market. On the contrary, increase in uses of GIS (Geographic Information System) systems is expected to create lucrative opportunities for the U.S. Airborne LiDAR industry.

Moreover, growing states in the U.S. tend to witness high penetration of airborne LiDAR products, especially in the forestry & agriculture segment, which is anticipated to augment the market growth. Factors such as surge in need for aerial LiDAR accelerate the market growth.

The U.S. airborne LiDAR market is segmented on the basis of component, application, and end user. By component, the market is classified into lasers, inertial navigation systems, cameras, GPS/GNSS receivers, microelectromechanical systems, and others. On the basis of application, market is divided into corridor mapping, seismology, exploration and detection, and others. Depending on end user, it is categorized into aerospace and defense, civil engineering, forestry and agriculture, transportation and logistics, archaeology, and mining industry. Also, the report provides a detailed U.S. airborne LiDAR market analysis based on competitive intensity and how the competition will take shape in coming years.

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Covid-19 Impact Analysis

The outbreak of COVID-19 significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and remained closed in 2021. Furthermore, partial or complete lockdown disrupted the U.S. supply chain, posing challenges for manufacturers to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among the customer segments.

North American countries under lockdowns suffered major loss of business and revenue due to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the U.S. airborne LiDAR market.

In addition, the COVID-19 pandemic impacted the electronics sector, as production facilities have stalled, which, in turn, boosted the demand for electronics and semiconductor products in the industries. Its major impact includes large manufacturing interruption across Europe and interruption in Asian parts exports, which may hinder the U.S. airborne LiDAR market. It is expected that the demand for new and innovative products could surge once the economy begins to recover. Companies are looking forward to invest in next-generation products using new technologies, as it is expected to boost its goodwill, once customer demand surges.

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Key Findings Of Study

The corridor mapping segment is projected to be the major type, followed by seismology.
By component, laser and inertial navigation system collectively accounted for more than 62% of the U.S. airborne LiDAR market share in 2020.
By application, others segment is anticipated to witness highest growth rate during the forecast period.
Depending on end user, the aerospace and defense segment generated the highest revenue in 2020. However, the forestry and agriculture segment is expected to witness the highest growth rate in the future.

The key players profiled in the report include 3D Laser Mapping (GeoSLAM), Faro Technologies Inc., Firmatek LLC, Leica Geosystems Inc. (Hexagon), Leosphere SaS (Vaisala), Raymetrics S.A., RIEGL Laser Measurement Systems GmbH, Saab, SAM LLC, and Teledyne Technologies. These players have adopted various strategies such as partnership, acquisition, and product launch to strengthen their foothold in the industry and to compete with U.S. airborne LiDAR market trends.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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