The LiDAR drone market is projected to grow at CAGR of 24.2% from 2020 to 2025
NEW YORK, Jan. 30, 2020 /PRNewswire/ --
The LiDAR drone market is projected to grow at CAGR of 24.2% from 2020 to 2025.
The LiDAR drone market is projected to grow from USD 133 million in 2020 to USD 392 million by 2025; it is expected to grow at a CAGR of 24.2% from 2020 to 2025. Key factors fueling the growth of this market include easing of regulations related to the use of commercial drones in different applications and growing demand for LiDAR drones for use in corridor mapping and precision agriculture applications. However, the stringent regulations and restrictions related to the use of drones in various countries are expected to hinder the growth of the market during the forecast period.
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The medium-range LiDAR drones segment is projected to grow at the highest CAGR during the forecast period.
The medium-range LiDAR drones segment is projected to lead the market from 2020 to 2025.Medium-range LiDAR drones fly at an altitude ranging from 200m to 500m.
They can be deployed to scan large areas. Moreover, the governments of a number of countries have moderate regulations for using medium-range LiDAR drones.
The rotary-wing LiDAR drones segment is projected to grow at a higher CAGR than the fixed-wing LiDAR drones segment from 2020 to 2025.
Among types, the rotary-wing LiDAR drones segment is projected to witness at a higher CAGR than the fixed-wing LiDAR drones segment during the forecast period.The growth of this segment can be attributed to the increased demand for rotary-wing LiDAR drones in surveying operations owing to the flexibility offered by them.
Rotary-wing LiDAR drones offer improved maneuverability and flexibility than fixed-wing LiDAR drones.They are of low cost.
Rotary-wing LiDAR drones have low power consumption as they are lightweight.These LiDAR drones can fly at low altitudes and enable highly accurate data acquisition to create a detailed 3D point cloud.
The development of 4D LiDAR sensors, which are lighter than traditional LiDAR sensors, has led to an increased demand for rotary-wing drones that are equipped with these sensors. This, in turn, is expected to drive the growth of the rotary-wing LiDAR drones segment of the market during the forecast period.
The LiDAR drone market in Asia Pacific (APAC) is projected to grow at the highest CAGR from 2020 to 2025.
The LiDAR drone market in APAC is projected to grow at the highest CAGR during the forecast period.The growth of the market in this region can be attributed to the increased use of LiDAR drones for surveying and mapping applications owing to rise in the number of infrastructure development projects, increased focus of governments on forest management, and increase in mining activities in the region.
Moreover, moderate government policies related to the use of LiDAR drones and easy availability of low-cost LiDAR drones in the region are expected to drive the growth of the LiDAR drone market in APAC during the forecast period.
Breakdown of profiles of primary participants:
• By Company: Tier 1 = 45%, Tier 2 = 35%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Managers = 43%, and Others (sales managers, marketing managers, and product managers, as well as members of various organizations) = 22%
• By Region: North America= 33%, Europe= 30%, APAC= 24%, and RoW= 13%
Major players profiled in this report:
• Phoenix LiDAR Systems (US)
• RIEGL Laser Measurement Systems GmbH (Austria)
• Velodyne LiDAR, Inc. (US)
• Teledyne Optech (Canada)
• UMS Skeldar (Switzerland)
• LiDARUSA (US)
• YellowScan (France)
• Geodetics, Inc. (US)
• OnyxScan (Belgium)
• Delair (France)
Research coverage
This report offers detailed insights into the LiDAR drone market based on component, type, range, application, and region.Based on component, the LiDAR drone market has been segmented into LiDAR lasers, navigation and positioning systems, UAV cameras, and others.
Based on type, the market has been divided into rotary-wing LiDAR drones and fixed-wing LiDAR drones.Based on range, the LiDAR drone market has been classified into short, medium, and long.
Based on application, the LiDAR drone market has been classified into corridor mapping, archeology, construction, environment, entertainment, precision agriculture, and others. The market has been studied for North America, Europe, APAC, and RoW.
Reasons to buy the report
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the LiDAR drone market comprehensively and provides the closest approximations of the overall size of the market, as well as its segments and subsegments.
2. The report is expected to help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
3. This report aims at helping stakeholders in obtaining an improved understanding of their competitors and gaining insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem of the market, as well as growth strategies such as product launches, partnerships, collaborations, contracts, agreements, acquisitions, and expansions adopted by major market players.
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