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The global LiDAR Drone Market size is prophesied to hit USD 482.67 million by the end of 2027 owing to the growing inclination towards adopting new development in micro-electromechanical systems (MEMS) technology and fibre optics-gyroscope (FOG) in various LiDAR products. Light detection and ranging technology or LiDAR is used for obtaining geographical information in mapping studies. A recently published report by Fortune Business Insights, titled, “LiDAR Drone Market Size, Share and COVID-19 Impact Analysis, by Type (Solid-state LiDAR and Mechanical LiDAR), By Application (Fixed Wing, Multirotor, Helicopter, Hybrid Multirotor), and Regional Forecasts,2020- 2027,” states that the market value was USD 136.69 million in 2019 and is expected to rise at a CAGR of 20.02% between 2020 to 2027.
International LiDAR Mapping Forum hosted the Launch of DT26X LiDAR UAV
A significant supplier of drone solutions called Delair engaged in a partnership with RIEGL OEM to form and launch the next-generation high-performance sensor called Delair DT26X LiDAR UAV. This is the first long-range fixed-wing drone manufactured and has high-resolution RGB (red, green, blue) camera with 3D mapping technology. The details of this system were disclosed at the forum located in Denver.
The use of this new platform delivers terrain modelling and 3D mapping with accuracy. It is capable of operating in extreme environment, such as dense vegetative areas, mountains, and other places inaccessible owing to visibility, weight, or lighting conditions. These UAV LiDARs can fly up to 2,400 square acres within 100 minutes of flight time within a communication range of 30 kilometres. The users can acquire the necessary information for a colourized cloud in a single flight and, thereby save both time and money as this makes the cloud classification process much more comfortable in the back office. Such innovations are likely to add impetus to the market for LiDAR drone in the forecast period.
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Rising Popularity of Drone-based Technology to Favor Market Growth
Drone-based LiDAR technology gained immense popularity in the past few years and emerged as a better alternative for the remote sensing platforms. This stands as a major factor in promoting the UAV LiDAR market growth. Besides this, the increasing demand for this technology from the UAV sector, forestry, archaeology, geography, seismology, mapping, monitoring, farming, and other applications are also set to add a boost to the market in the coming years. It is also used for collecting accurate data of various mountain terrains and landscapes by engineers to create a 3D representation of shoreline structures, highways, roadways, breakwaters, bridges, and others.
On the contrary, the unavailability of skilled people and lack of proper training institutes are likely to pose major hindrances to the market growth in the coming years. Nevertheless, the use of photogrammetric software for making image processing to generate valuable data is expected to create lucrative growth opportunities to the market for LiDAR drone in the future.
Continuous Investment in Innovations by Players to Intensify Competition
The global LiDAR drone market is dominated by a handful of players, namely, REIGL, Teledyne Optech, Velodyne, and Leica. This is owing to the massive investments by these companies on research and development of innovative products. The other players are engaging in mergers and acquisitions, contracts and agreements, and other collaborative efforts to gain a competitive edge in the market competition.
Key Industry Developments of LiDAR Drone Market Include:
List of Prominent Players in the Market for LiDAR drone Include:
Further Report Findings:
The Global Market is categorized into:
Value (USD Million)