The LiDAR drone market is expected to grow from USD 133 million in 2020 to USD 392 million by 2025, at a CAGR of 24.2 percent between 2020 and 2025.
The easing of regulations governing the use of commercial drones in various applications, as well as the growing demand for LiDAR drones for use in corridor mapping and precision agriculture applications, are key factors driving the growth of this market.
In 2021, short-range LiDAR drones held the largest share of the LiDAR drone market.
Short-range LiDAR drones accounted for the lion’s share of the LiDAR drone market in 2019. The increased focus of LiDAR drone manufacturers on the development of short-range LiDAR drones is a major factor contributing to the market’s growth. The LiDAR drones operate at low altitudes (below 200m). As a result, in most regions, no additional permissions are required to fly them. Short-range LiDAR drones are light and energy-efficient. As a result, these drones require small batteries, lowering their overall costs.
In 2021, the corridor mapping segment held the largest share of the LiDAR drone market.
In 2019, the corridor mapping segment accounted for the largest share of the LiDAR drone market. The growth of the corridor mapping segment can be attributed to government initiatives in various countries to use digital terrain maps (DTMs) for infrastructure development. Furthermore, LiDAR drones pose no danger to humans. This is also contributing to their high global demand, which is propelling the LiDAR drone market in corridor mapping forward. By capturing accurate data, LiDAR drones can be used to create DTMs of difficult terrains and remote areas.
Among the major companies operating in the LiDAR drone market are 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), and Delair (France). To strengthen their market position, these companies have used both organic and inorganic growth strategies such as product launches, partnerships, collaborations, contracts, agreements, acquisitions, and expansions.
LiDAR drone applications are becoming more prevalent.
LiDAR drones are used to assist construction project managers in completing tasks accurately and capturing high quality elevation data that is accurate and precise. They are also used in the creation of models for landscapes, buildings, and man-made objects. Accident scenes, forestry, agriculture and landscaping, terrain modelling, archaeology, and mine inspection are some of the other applications.
LiDAR technology is also gaining traction in the defence industry. The technology is influencing the development of new defence equipment, such as unmanned aerial vehicles for aerial surveillance. These factors are propelling the LiDAR drones market forward.
Short-range LiDAR drone development
Manufacturers of LiDAR drones are concentrating on the development of short-range LiDAR drones, which do not require additional government permission to fly. These short-range drones are light in weight, use little power, and fly at a low altitude. Furthermore, these drones require small batteries, which reduces overall costs. These factors are propelling the LiDAR drones market forward.
However, a shortage of skilled professionals and experts to pilot LiDAR drones, as well as the high costs associated with LiDAR technology and equipment, may stymie the market.
The Asia Pacific LiDAR Drones Market Will Grow Significantly
The global LiDAR drones market can be divided into five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
During the forecast period, the Asia Pacific LiDAR drones market is expected to grow at a significant CAGR.
This growth can be attributed to a wide range of applications, LiDAR drone features, growing technological advancements, and rising investments in the region’s defence industry. As a result, these factors are expected to drive demand for LiDAR drones.
Due to increased competition among players in these regions, the LiDAR drones market in North America and Europe is expected to expand at a rapid pace. During the forecast period, the Middle East and Africa market is expected to expand at a slow pace.