Market Size –
The light detection and ranging (LiDAR) drone market size has grown exponentially in recent years. It will grow from $0.21 billion in 2023 to $0.27 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%. The growth in the historic period can be attributed to cost reduction and accessibility, improved data accuracy and resolution, regulatory support and integration, industry adoption and use cases, demand for remote sensing technologies, competitive landscape and market expansion.
The light detection and ranging (LiDAR) drone market size is expected to see exponential growth in the next few years. It will grow to $0.65 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to increasing demand for autonomous solutions, expansion into new verticals and applications, environmental and climate change mitigation, collaborative partnerships and ecosystem development, government investments and infrastructure projects, market consolidation and standardization. Major trends in the forecast period include adoption of lightweight lidar sensors, expansion in agriculture and forestry, integration with other sensors, development of advanced processing algorithms, integration with autonomous flight systems, expansion of services for infrastructure inspection, innovation in technology, collaboration between manufacturers and OEMs (original equipment manufacturers).
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Scope Of Light Detection And Ranging (LiDAR) Drone Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Light Detection And Ranging (LiDAR) Drone Market Overview
Market Drivers –
The growing usage of drones for commercial purposes is expected to propel the light detection and ranging (LiDAR) drone market going forward. Commercial usage of drones encompasses the deployment of unmanned aerial vehicles (UAVs) across diverse industries and sectors, leveraging their capabilities for efficient, safe, and cost-effective task execution compared to traditional methods. LiDAR drones are increasingly utilized for commercial purposes due to their ability to efficiently capture high-resolution elevation data for various industries such as agriculture, forestry, construction, and environmental monitoring. For instance, in May 2023, according to the UK drone survey consisting of 2,000 adults conducted by the Civil Aviation Authority (CAA), a UK-based government authority that oversees aviation activities to ensure safety and regulatory compliance, drone users across the UK increased to 5% in 2023 compared to 3% in 2021. Commercial deliveries using drones are expected to grow by 30% in 10 years, compared to 13% in 5 years. Moreover, filming and media drone users are expected to grow from 42% in 2022 to 46% in 2023. Therefore, the growing usage of drones for commercial purposes is driving the growth of the light detection and ranging (LiDAR) drone market.
Market Trends –
Major companies operating in the light detection and ranging (LiDAR) drone market are increasing their focus on technological developments, such as the Airborne Topo-Bathymetric (ATB) system, to enhance drone technology and gain a competitive edge in the market. These systems offer a comprehensive solution for capturing detailed elevation data across both terrestrial and underwater environments, making them invaluable tools for various applications in geospatial analysis and environmental management. For instance, in June 2022, Phoenix LiDAR System, a US-based provider of LiDAR solutions for ADAS and autonomous mobility, launched the HydroRANGER, a dual-purpose topographic and bathymetric LiDAR system. This system is capable of providing high-resolution topo-bathymetric mapping for various applications, including navigation, ocean science, and the mapping of shoreline systems. It utilizes a visible green-spectrum laser with an elliptical scan pattern and measurement rates up to 200 kHz, offering a combination of high spatial resolution and accuracy.
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
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Regional Insights –
North America was the largest region in the light detection and ranging (LiDAR) drone market in 2023. 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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Light Detection And Ranging (LiDAR) Drone Market Characteristics
3. Light Detection And Ranging (LiDAR) Drone Market Trends And Strategies
4. Light Detection And Ranging (LiDAR) Drone Market – Macro Economic Scenario
5. Global Light Detection And Ranging (LiDAR) Drone Market Size and Growth
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31. Light Detection And Ranging (LiDAR) Drone Market Other Major And Innovative Companies
32. Global Light Detection And Ranging (LiDAR) Drone Market Competitive Benchmarking
33. Global Light Detection And Ranging (LiDAR) Drone Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Light Detection And Ranging (LiDAR) Drone Market
35. Light Detection And Ranging (LiDAR) Drone Market Future Outlook and Potential Analysis
36.Appendix
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