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LiDAR (derived from the term RADAR) stands for Light Detection and Ranging. It is a sensing technique that uses light pulses in the form of a laser to measure varying distances from the Earth. Using this technique, three-dimensional information about Earth's surface properties and shape can be collected. LiDAR technology aids mapping experts and scientists in examining and studying man-made and natural landscapes with greater precision, accuracy, and flexibility. LiDAR technology aids mapping experts and scientists in examining and studying man-made and natural landscapes with greater precision, accuracy, and flexibility. Initially, LiDAR was only used in government and military applications. However, thanks to technological breakthroughs and lower manufacturing costs, LiDARs are rapidly gaining traction in both the industrial and commercial sectors.
Over the projected period, the market is likely to be driven by increased demand for 3D images in various application areas such as military and defence, topographical surveys, civil engineering, and corridor mapping. 3D mapping, city planning, and corridor mapping are all applications that use textured 3D data. The installation base of enhanced safety features is rising exponentially. Governments in nations such as the United States have allowed self-driving cars that are equipped with LiDAR for GPS and navigation.
By product type, the market is segmented as airborne, terrestrial, and mobile and UAV. Based on Component, the market is divided into GPS component, laser scanners, navigation Inertial Measurement Unit (IMU) device, and other complementary LiDAR devices. Due to rising utilisation globally, aerial scanning and mapping operations are projected to see greater demand. Based on Application, the market is classified into corridor mapping, exploration, engineering, Advanced Driver Assistance Systems (ADAS), environment, and other LiDAR applications. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and Rest of the world.
The major companies in the Airborne Light Detection and Ranging (LiDAR) System market report includes RIEGL USA Inc, Inc. (The U.S.), Velodyne LiDAR, Inc (The U.S.), Trimble Navigation Limited (The U.S.), Leica Geosystems Holdings AG (Switzerland), Faro Technologies Inc. (The U.S.), 3D Laser Mapping (The U.K.), Hexagon AB (Sweden), Phoenix LiDAR Systems (The U.S.), Teledyne Technologies (The U.S.)
The market for airborne LiDAR is expected to be dominated by North America. The United States and Canada are the two most important countries in this region for airborne LiDAR. The expansion of the airborne LiDAR market in the United States is being fueled by the widespread usage of LiDAR systems in mapping and surveying applications, as well as a growing number of LiDAR service providers.
Due to increased infrastructure development and a greater focus on forest management, the Asia-Pacific area is predicted to grow at the quickest rate. During the same time period, Asia-Pacific is predicted to be the fastest-growing market. As a result of increased investment by domestic and international firms in countries like China and India.
In order to improve consumer connections and assistance, the organisations are increasing their footprint in Europe. For example, in August 2019, Ouster LiDAR announced the opening of additional office in Paris for the Europe markets.Due to expanding military modernization programmes and introduction of advanced technologies in military from the United Kingdom, Russia, France, and others, the Airborne Light Detection and Ranging (LiDAR) System market in Europe will see substantial expansion.
The market in the rest of the world will increase at a moderate pace, thanks to rising defence budgets in Saudi Arabia, Israel, Turkey, and other countries. The market is developing in Latin America due to rising military spending and increased use of next-generation technologies by defence forces.
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