The new report by Expert Market Research titled, ‘Global LiDAR Drone Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global LiDAR drone market, assessing the market based on its segments like types, ranges, components, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 165.3 Million
- Forecast CAGR (2023-2028): 24.1%
- Forecast Market Size (2027): USD 603.7 Million
The global market for LiDAR drones is largely being driven by the increasing use of advancements in laser and sensor technologies. Owing to the versatility of drones in various applications like surveillance, mapping, and navigation, the LiDAR drone technology is rapidly booming. The LiDAR technology uses ultraviolet light for effective digital mapping in terrains, mountains, and dense areas.
This data is provided by building 3 dimensional models of the reviewed zone and since the information derived using LiDAR technology is highly accurate, it is being increasingly used for corridor mapping in construction activities, thereby stimulating the market growth.
Industry Definition and Segmentation
LiDAR, which stands for light detection and ranging, is a remote sensing technology that uses rapid laser technology to map out the surface of the earth.
On the basis of type, the market can be divided into:
- Fixed Wing
- Rotary Wing
Based on range, the market can be segmented into:
- Short Range
- Medium Range
- Long Range
The market, based on component, can be classified into:
- Navigation and Positioning System
- Laser Scanners
On the basis of application, the market can be categorised into:
- Corridor Mapping
- Aerospace and Defence
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth in the global market for LiDAR drones can be associated with the rising use of technology in construction activities for accurate navigating and positioning using advanced laser technology. Looking forward, the market is anticipated to gain from the rising demand for short range drones for its favourable characteristics including lightweight composition and power emission. Small, low-power, and short-range LiDAR modules can strengthen safety and improve mapping and navigation for industrial robots, machinery, and drones. These features of a short-range drone are thus expected to provide impetus to the market growth.
Key Market Players
The major players in the market are 3D Robotics, Inc., Teledyne Optech, Trimble Navigatrion Ltd., Velodyne LiDAR, Inc., Faro Technology, Phoenix LiDAR Systems, and MicroDrones, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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