USD 143 billion
Report ID: SQSG45J2013 | Region: Global | Published Date: October, 2022 | Pages: 165
Global Lidar Drone Market size was valued at USD 143 billion in 2021, and it is expected to reach a value of USD 455 billion by 2028, at a CAGR of 17.98% over the forecast period (2022-2028).
A technique called LiDAR is used to identify, recognise, and create virtual representations of objects. Because it is accessible in both 2D and 3D forms, it is the most recent remote sensing technology. Currently, the technology is used in many other industries, including as building, engineering, archaeology, and GIS mapping. This LiDAR market sector is increasing quickly because to the efficient, tiny image-capturing sensors found on autos. For instance, prominent corporations like Velodyne, Routescene, YellowScan, and Riegl have invested a significant amount of money in the creation of small drones. The gadget has the highest quality imaging capabilities for each LiDAR system's functional capabilities. As a result, it is often utilised in a variety of industries, including the aerospace, automotive, medical, and military.
The growing demand for LiDAR as a result of its many applications will cause the global LiDAR market to grow during the coming years.
A 3D point cloud is the final result of LiDAR drone surveys, and it depends on the features of the sensors that are mounted on these drones as well as flight parameters like the height and distance of the LiDAR drone's flight. LiDAR sensors produce a monochromatic dataset that is difficult to interpret. Using photogrammetry techniques, fully coloured 2D or 3D models can be produced, making them simple to view and comprehend. Drones that use LiDAR can collect and interpret data more quickly than those that use photogrammetry. LiDAR drones, in contrast, cost more than photogrammetry equipment.
Their low price may be explained by the usage of drones with a single camera to transport photogrammetry equipment. These drones are priced between US$ 5,000 and US$ 20,000. LiDAR sensors are required for LiDAR drones and can range in price from $50,000 to $300,000. These pricey sensors are mounted on reliable drones that cost between US$25,000 and US$50,000. Thus, the cost of LiDAR drones as a whole is increased by this complex technology. Therefore, the availability of cheap and lightweight photogrammetry equipment serves as a barrier to the expansion of the LiDAR sector.
Global Market Size
USD 143 billion
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The global lidar drone market has been segmented based on type analysis, application, and region. Based on type analysis, the market is segmented into solid-state and mechanical LiDAR. Based on the application, the market is segmented into mapping and cartography, surveillance, environment, exploration and detection, precision agriculture, and others. Based on region, the lidar drone market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type Analysis
In 2021, the mechanical type sector recorded the highest share. This supremacy is the result of mechanical LiDAR being widely used to detect data across a wide range of up to 360 degrees.
Solid-state segment is anticipated to increase at the greatest compound annual growth rate. Its outstanding technical benefits in a variety of market applications are credited with this expansion. A lot of people are becoming quite interested in the new product developments in various laser-oriented circuits. Future years should see an increase in product efficiency as laser technology use rises due to its cost-effective advantages.
The solid-state segment, which makes UAVs lighter and faster than conventional goods, is fully based on silicon chip technology. A Solid-state is a sturdy and small chip that helps reduce the amount of space needed in buildings for scanners and other LiDAR devices.
With this new innovation, numerous applications like corridor mapping and precision agriculture can benefit from increased resolution. With outstanding results in the right applications, these advancements are enhancing 3D mapping. As a result, it is anticipated that these variables will boost growth in the next years.
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Based on regional analysis, North America accounted for the largest revenue share in 2021 with a market share of 34.5%, North America will take the lead in the worldwide LiDAR drone market due to the rapid use of contemporary technologies and favorable drone flying laws are expected to drive market expansion. Major U.S. manufacturers are also anticipated to support the expansion of the local market.
Europe aimed to place second on the world market. The presence of several manufacturers in the area, such as Delair, Yellow Scans, and Leica, is anticipated to spur market expansion. Additionally, the market is expected to rise as a result of rising applications for environmental monitoring and infrastructure construction.
In the upcoming years, Asia Pacific is projected to enjoy rapid expansion due to the rise of developing commercial drone manufacturing nations like China and India.
It is projected that the Middle East will experience moderate growth, rising investments, and infrastructure development.
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Leading market players including Velodyne Lidar, Inc., Teledyne Optech, RIEGL Laser Measurement Systems GmbH, and Leica Geosystems AG place a strong emphasis on continuous innovation to provide a wide range of products. Additionally, they are expanding their R&D spending as well as their interest in adopting new technology, making strategic acquisitions, and forming partnerships in order to build and create the next generation of LiDAR drone solutions. To maintain their market positions, significant corporations are also implementing organic and inorganic growth tactics including new product releases, long-term agreements with surveying firms, and establishing long-term connections with OEMs.
Top Players in the Global Lidar Drone Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by type analysis, mechanical type dominated the global lidar drone market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, North America dominated the global lidar drone market owing to the region's rapid use of contemporary technologies and favorable drone flying laws.
|Market size value in 2021||USD 143 billion|
|Market size value in 2028||USD 455 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global Lidar Drone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Lidar Drone Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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