CHICAGO, Jan. 22, 2020 /PRNewswire/ -- According to the research report the "LiDAR Drone Market by Component (LiDAR Lasers, UAV Cameras), Type (Rotary-wing LiDAR Drones, Fixed-wing LiDAR Drones), Range (Short, Medium, Long), Application (Corridor Mapping, Archeology, Environment), Region - Global Forecast to 2025", published by MarketsandMarkets™, 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 are 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.
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"The rotary-wing LiDAR drones segment led the LiDAR drone market in 2019."
In 2019, the rotary-wing LiDAR drones segment accounted for a larger share of the LiDAR drone market than the fixed-wing LiDAR drones. The growth of this segment can be attributed to the increased flexibility offered by rotary-wing or multi-rotor LiDAR drones. These low-cost drones offer better maneuverability than fixed-wing LiDAR drones.
Moreover, rotary-wing LiDAR drones are highly compatible with short-range and medium-range LiDAR drone systems. This is expected to play a significant role in the growth of the rotary-wing LiDAR drones segment of the market. Rotary-wing LiDAR drones are easy to fly. They are suitable for small-scale mapping applications. These drones are capable of collecting highly accurate data, thereby leading to their increased global demand.
"Short-range LiDAR drones accounted for the largest share of the LiDAR drone market in 2019."
In 2019, short-range LiDAR drones accounted for the largest share of the LiDAR drone market. The growth of this segment can be attributed to the increased global demand for short-range LiDAR drones, which are lightweight and offer highly detailed data acquisition. Short-range LiDAR drones have gained traction over the last few years owing to increase in their use by surveyors as no additional permissions are required to fly them.
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"The LiDAR drone market in Asia Pacific (APAC) projected to grow at the highest CAGR during the forecast period."
The LiDAR drone market in APAC is projected to grow at the highest CAGR from 2020 to 2025. The growth of the market in this region can be attributed to the rising deployment of LiDAR drones in corridor mapping and geographical surveying applications and increasing focus on the modernization of LiDAR drones.
China, India, and Japan are expected to be the major markets for LiDAR drones in APAC, as developed countries, such as the US, Canada, France, and the UK are expected to increasingly outsource their LiDAR drones to these countries for mapping and surveying applications in near future.
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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), MicroDrones (Germany), Livox (China), Sick AG (Germany), Routescene (UK), NextCore (UK), GreenValley International (US), Beijing SureStar Technology Co. Ltd. (China), Benewake (Beijing) Co., Ltd. (China), SABRE Advanced 3D Surveying Systems (UK), and Cepton Technologies, Inc. (US) are the key players in the LiDAR drone market.
These players are increasingly undertaking strategies such as product launches, partnerships, collaborations, contracts, agreements, acquisitions, and expansions to increase their share in the market.
Please explore relevant report
LiDAR Market by Type (Mechanical, Solid-state), Installation Type, Service (Aerial Surveying, GIS services), Application (Corridor Mapping, Environment, Engineering, ADAS & Driverless Cars), Component, Range, and Geography - Global Forecast to 2024
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