LiDAR Drone Market Size Exceed $2,286.09 Million By 2032 | CAGR: 27.60%

LiDAR Drone Market Size Exceed $2,286.09 Million By 2032 | CAGR: 27.60%

The global LiDAR drone market size is expected to reach USD 2,286.09 million by 2032, according to a new study by Polaris Market Research. The report “LiDAR Drone Market Share, Size, Trends, Industry Analysis Report, By Type (Fixed-Wing, Rotary-Wing); By Range (Short Range, Medium Range, Long Range); By Component (Cameras, Navigation and Positioning Units, Laser Scanners, Others); By Application (Corridor Mapping, Aerospace and Defense, Mining, Construction, Entertainment, Environment, Agriculture, Others); By Regions; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

LiDAR Drone Market is expected to grow at the fastest rate over the forecast period owing to wider applications of LiDAR drones in various applications and increasing technological advancements in the drone industry in the last few years.

LiDAR drones utilize light energy and lasers to scan and measure the target from distance. They send out multidirectional laser pulses using oscillating mirrors to map ground points and terrain through analysis of returning pulses. The sensors generally measure time, intensity, and angle of reflection to understand an object in three dimensions. After collecting the data points, the 3D mapping software processes the information along with GPS data and an inertial Navigation System to make a detailed and precise 3D model of a targeted area and object.

The LiDAR drones have been widely used in a range of applications in various industries. One such application is the adoption of LiDAR drones in the mining industry. The LiDAR-based technology has enabled mining organizations to measure the 3D coordinates of various objects on the ground and applies a point cloud filtering method to generate a precision digital terrain model. Corridor mapping remained the second most important area where the LiDAR drone has been widely used. Other factors including increasing investment in the R&D of LiDAR drones has improved the capability to capture data more precisely and further fuels the demand for LiDAR drones in various industry.

The major restraining factor for the LiDAR drone market is the associated high cost of the equipment used in the technology. Further, drones require high input power from batteries for surveying applications, increasing overall purchasing and operational costs. The stringent regulations and restrictions relating to using drones in certain countries such as Kuwait, Iran, Sri Lanka, and Uzbekistan have remained a limiting factor for the growth of the LiDAR drone market.

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Report Highlights

  • The COVID-19 pandemic has negatively impacted the LiDAR drone market across all regions. Various countries' governments have imposed certain measures to control the virus to further spread among the people. The temporary shutdown of multiple shops and production units led to disruption in scheduled mapping, exploration and detection, precision application operations, and surveillance and, in turn, reduced the application of drones during the pandemic period.
  • North America is anticipated to hold a significant share of the LiDAR drone market in the forecast period. The primary factors responsible for the major share of North America include increasing investments towards better and innovative defense tools. The accuracy and efficiency of LiDAR drones to collect data from high altitudes have increased their adoption in the defense sector in the last few years.
  • The Rotary Wing LiDAR Drone segment is anticipated to hold the largest market share in 2022. The primary factors driving the Rotary wing LiDAR drone segment can be attributable to the rise in the adoption of the single-rotor and multirotor Unmanned Aerial vehicles across various regions. In addition, the multirotor LiDAR drone is gaining popularity due to its easy flight controlling systems over conventional products and provides for covering the vast area for mapping various forests, terrains and farms.
  • The long-range segment is anticipated to witness a significant growth rate in the LiDAR drone market attributed to the rising development of advanced laser technology to offer improved and accurate detection from high altitudes.

Polaris Market Research has segmented the LiDAR Drone Computing Market report based on component, product, range, application, and region:

LiDAR Drone Computing Market, Component Outlook (Revenue - USD Million, 2019 - 2032)

  • Navigation and Positioning systems
  • Laser Scanners
  • Cameras
  • Others

LiDAR Drone Computing Market, Product Outlook (Revenue - USD Million, 2019 - 2032)

  • Rotary Wing LiDAR Drone 
  • Fixed Wing LiDAR Drone

LiDAR Drone Computing Market, Industry Range Outlook (Revenue - USD Million, 2019- 2032)

  • Short Range
  • Medium Range
  • Long Range

LiDAR Drone Computing Market, Industry Application Outlook (Revenue - USD Million, 2019- 2032)

  • Precision Agriculture
  • ADAS & Driverless Cars
  • Corridor Mapping
  • Defense
  • Construction
  • Mining and Exploration
  • Other Applications

LiDAR Drone Computing Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa