LiDAR Drone Market to Reach USD 455.0 Million by 2028; Surging Adoption of Economical 3D Image Mapping Systems to Propel Market Growth

The global LiDAR Drone Market size is anticipated to exhibit staggering growth by reaching USD 455.0 million by 2028. Fortune Business Insights^TM in its report titled “LiDAR Drone Market Size, Share & COVID-19 Impact Analysis, By Product (Fixed Wing and Rotary Wing), By LiDAR Type (Solid-state and Mechanical), By Range (Short, Medium, and Long), By Application (Mapping and Cartography, Surveillance, Environment, Exploration and Detection, Precision Agriculture, Others), and Regional Forecast, 2021-2028”, observes that the market size stood at USD 129.0 million in 2020 and is expected to exhibit a CAGR of 17.98% between 2021 and 2028. The market is estimated to reach USD 143.0 million in 2021. The surging adoption of economical 3D imaging sensors is likely to boost market growth.

Emesent Pty Ltd.’s Multi-Year Contract with Velodyne Lidar Inc. for Puck LITE™ Sensors to Incite Development

In January 2021, Velodyne Lidar Inc. announced receiving a multi-year contract by Emesent Pty Ltd., a mapping, drone autonomy, and data analytics provider. The company will provide Puck LITE™ sensors to Emesent Pty Ltd. The Puck LITE™ sensors are unique for mobile mapping systems because of their compact size, high performance, and lightweight. Emesent uses sensors by Velodyne to power its Hovermap mobile scanning system for mapping GPS-denied and dangerous environments.

Growing Adoption of Economical 3D Imaging Systems to Drive Market Growth

Drone technology has witnessed immense development and innovation over the past few years. LiDAR technology is vastly linked to airborne laser scanning, and drone using this technology has grown substantially due to developments in laser and sensor components. Mapping has proven effective in producing data about surface features and shapes from georeferenced spatial data. The improvements in sensor and laser components and drone technology have resulted in economical three-dimensional mapping systems. Therefore, the increasing adoption of economical 3D image mapping systems is likely to fuel the global LiDAR Drone Market growth.

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https://www.fortunebusinessinsights.com/lidar-drone-market-102602

Key Players Devise Innovative Growth Strategies

The market comprises Velodyne Lidar inc., RIEGL Laser Measurement Systems GmbH, Teledyne Optech Inc., and Leica Geosystems AG, amongst the top market players. The key players operating in the market emphasize continuous research and development with increased investments. They focus on advanced technology adoption to launch new products. They adopt ingenious growth strategies, including long-term contracts, partnerships, new product launches, and others to augment their growth in the global market. For instance, in October 2020, SZ DJI Technology Co. Ltd. unveiled an integrated drone solution. They also launched a full-frame camera payload called DJI Zenmuse P1 and DJI Zenmuse L1. The payloads are designed for its top-notch commercial drone platform, Matrice 300RTK.

Industry Developments-

• January 2021: Velodyne Lidar Inc. announced receiving a multi-year contract by Emesent Pty Ltd. The company will provide Puck LITE™ sensors to Emesent Pty Ltd.

List of Key Players in the Market:

• Velodyne Lidar Inc. (U.S.)
• Teledyne Optech Inc. (Canada)
• RIEGL Laser Measurement Systems GmbH (Austria)
• Delair SAS (France)
• Phoenix LiDAR Systems (U.S.)
• Leica Ecosystems AG (Switzerland)
• Yellow Scan (France)
• LiDARUSA (U.S.)
• SZ DJI Technology Co. Ltd. (China)
• Benewake (Beijing) Co. Ltd. (China)
• RoboSense (China)
• Sich AG (Germany)
• Microdrones (Germany)

Further Report Findings-

• The market size in North America stood at USD 51.27 million in 2020 and is projected to emerge dominant in the global LiDAR Drone Market share. The favorable drone flying regulations and swift adoption of modern technologies are anticipated to fuel the market growth. Moreover, the major manufacturers present in the U.S., are expected to complement the regional market growth.
• According to the segmentation based on product, the fixed-wing LiDAR drone segment is anticipated to witness the highest growth due to its increasing growth in BLOS operations and long-range detections.

TABLE OF SEGMENTATION