LiDAR Drone Market Estimated to Reach $325 Million by 2026

LiDAR Drone Market Estimated to Reach $325 Million by 2026

LiDAR Drone Market
Upsurge in Construction Activities, Mining Activities, Agricultural Activities and Others Have Driven the Demand for Advanced LiDAR Drones Market.

The Global LiDAR Drone Market is estimated to reach $325 million by 2026, growing at a CAGR of 20.6% from 2021 to 2026. LiDAR stands for light detection and ranging technology feasible for carrying large unmanned aerial vehicles. This technology measures the intensity of the reflection of light as it sends out pulses of laser light and measures the exact time it takes for these pulses to return. When the drone moves forward LiDAR generates sheet of light by using oscillating mirrors to send out laser pulses through laser scanners in many directions. It provides readings of the terrain and of points on the ground by measuring the timing and intensity of returning pulses. This technology uses rapid laser pulses to create digital terrain maps. A rotary wing LiDAR equipped drone can be deployed for monitoring an interstate pileup at night making a single pass over the site. These unmanned aerial vehicles require small batteries leading in reduction in the overall costs. Furthermore, these drones are lightweight and power efficient which have driven the growth of the market.

LIDAR Drone Market Segment Analysis – By Type

By Type the market is segmented into Fixed Wing, Rotary Wing . Fixed wing LiDAR drones are dominating in the market owing to its wide range of applications in agriculture. Fixed wing LiDAR drones are faster, can carry more weight and have longer flight time compared to rotary wing LIDAR Dronesowing to which these drones are adopted in most of the applications. Fixed wing LiDAR drones have simpler structure owing to which the maintenance and repair cost is less. Furthermore, the fixed wing LIDAR unmanned aerial vehicles have higher speeds and longer flight duration. This factor enables larger survey areas per given flight. The fixed wing drones have capacities to carry greater payloads enabling less power consumption owing to the fact that they are configured with twin sensors and bigger & expensive sensors as well.

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LIDAR Drone Market Segment Analysis – By Application

By Application, the market is segmented into Corridor Mapping, Aerospace and Defense, Mining, Construction, Entertainment, Environment, Agriculture, Others. The agriculture sector is witnessing a significant growth in the market owing to the use of these unmanned  aerial vehicles in various agricultural applications such as green netting, estimation of crop heath, monitoring of productivity of soil, water resource management and others. The rotary wing LiDAR drones captures the real time images of the crops remotely and further determines improved data processing of those crops along with data gathering for the determination of crop vigor. Decrease in productivity from agriculture industry due to chemical and pestiscide spraying, increase in pollution and carbon emission and growing need for green cover conservation have accelerated the growth of LiDAR drones market.

LIDAR Drone Market Segment Analysis – By Geography

By Geography the LiDAR Drones Market is dominated by North America with a market share of 34.5% in 2020. In North America the presence of industrial sectors along with continuous growth of technological advancement have resulted in the requirement of rotary LiDAR drones as these are equipped with turbine engines, sensors and cameras offer high power density, enormous thrust capacity, good efficiency with good load capacity, fuel quality and others making them convenient in these industrial and commercial applications. Furthermore, many organizations such as AirMap, Drone Map, Teal, Drone Seed, Cape and Others have also funded different technologies related to these unmanned aerial vehicles thereby driving the growth of the market. These factors have driven the growth of the market in this region.

LIDAR Drone Market Drivers

Growth of the construction activities:

Due to the growth of construction activities there is demand for these LiDAR drones. Due to the high urban population and high development in the regions infrastructure the residential and commercial sectors are facing huge development. Many accidents have been reported in these due to the problems with the old buildings which have called for stricter regulations and codes. Many legislations have been introduced regarding repair of old buildings and construction of new ones as well in terms of safety standards and to increase awareness among customer with respect to technological and safety improvements. The LIDAR systems uses ultraviolet to near infrared light for effective digital terrain mapping. There is no external light is required and accurate information with visible details can be returned instantaneously. This creates a high opportunity for fixed wing and rotary LiDAR drones in construction areas. The rise in growth of new offices owing to the emerging economies the modernization of buildings are rising. According to the U.S States Census Bureau, total investment of $1,355,189 million was made in construction works in U.S. among which $534,170 million were residential and $467,719 million were non-residential investments in June 2020. These construction activities have driven the growth of the market.

Technological Advancements:

The technological advancements have led to the adoption of cloud computing, GIS, low cost LiDAR systems, wireless technologies, high precision cameras and others. The technological advancements have resulted in the development of LAN infrastructure due to which the implementation of a software layer is possible in the unmanned aerial vehicles. This software layer allows each computation module of the fixed wing and rotary LiDAR drones to support multiple applications by providing service to the network. Owing to the advanced technological advancements there is a communication gateway between the LiDAR drones and the ground station, predominantly procured and used in military applications. NASA has designed new technologies like cutting wing weight, shape memory technology for the buildup of more efficient and scalable LiDAR drones.

LiDAR Drones Market Challenges

Lack of efficiency

LiDAR Drones are used in various applications such as mapping, agriculture, mining, construction and others but these unmanned aerial vehicles faces many changes in terms of battery capacity, size of area, cost and others. The major restraining factor is the efficiency in terms of mapping large areas. There is a requirement of line of sight between drone operator and the drone.

LiDAR Drones Market Landscape

LiDAR Drone Market is dominated by major companies such as 3D Robotics, Inc., Teledyne Optech, Trimble Navigatrion Ltd., Velodyne LiDAR, Inc., Faro Technology, Phoenix LiDAR Systems, MicroDrones, YellowScan, UMS Sceldar, OnyxScan among others.

Acquisitions/Technology Launches

In October 2020 DJI launched two new LiDAR drones named “Zenmuse P1” and “Zenmuse L1”. These drones are used for data collection for precise aerial inspection and data collection missions in aerial surveying.

Key Takeaways

The upsurge in construction activities, mining activities, agricultural activities and others have driven the demand for advanced LiDAR drones.

The Agricultural sector is witnessing a significant growth in the market owing the demand for estimation of crop heath, green netting and others where these applications are carried out by the drones.

In North America, rise in archeological surveying, mining activities, growth of the emerging economies, investments in the construction activities and others are fuelling the growth of the market.

Related Reports:

A. UAV Drones Market

B. Drone Sensor Market

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