Light Detection And Ranging (LiDAR) Drone Market Industry Outlook, Opportunities in Market And Expansion By 2033

Overview and Scope
A light detection and ranging (LiDAR) drone refers to an uncrewed aerial vehicle equipped with LiDAR sensors, which use laser light to measure distances with remarkable accuracy, allowing these drones to create detailed 3D maps of the terrain below. These are versatile tools for inspection and surveying tasks, providing several distinct advantages over traditional data collection methods, including quickly and accurately capturing data for large areas, covering large areas quickly and efficiently, and building a more accurate terrain representation.

Sizing and Forecast
The light detection and ranging (LiDAR) drone market size has grown exponentially in recent years. It will grow from $0.21 billion in 2023 to $0.27 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%.  The growth in the historic period can be attributed to cost reduction and accessibility, improved data accuracy and resolution, regulatory support and integration, industry adoption and use cases, demand for remote sensing technologies, competitive landscape and market expansion.

The light detection and ranging (LiDAR) drone market size is expected to see exponential growth in the next few years. It will grow to $0.65 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%.  The growth in the forecast period can be attributed to increasing demand for autonomous solutions, expansion into new verticals and applications, environmental and climate change mitigation, collaborative partnerships and ecosystem development, government investments and infrastructure projects, market consolidation and standardization. Major trends in the forecast period include adoption of lightweight lidar sensors, expansion in agriculture and forestry, integration with other sensors, development of advanced processing algorithms, integration with autonomous flight systems, expansion of services for infrastructure inspection, innovation in technology, collaboration between manufacturers and OEMs (original equipment manufacturers).

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The light detection and ranging (LiDAR) drone market covered in this report is segmented –

1) By Product: Fixed Wing Drone, Rotary Wing Drone
2) By LiDAR Type: Topographic, Bathymetric
3) By Range: Short, Medium, Long
4) By Application: Mapping And Cartography, Surveillance, Environment, Exploration And Detection, Precision Agriculture, Other Applications

North America was the largest region in the light detection and ranging (LiDAR) drone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the light detection and ranging (LiDAR) drone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing usage of drones for commercial purposes is expected to propel the light detection and ranging (LiDAR) drone market going forward. Commercial usage of drones encompasses the deployment of unmanned aerial vehicles (UAVs) across diverse industries and sectors, leveraging their capabilities for efficient, safe, and cost-effective task execution compared to traditional methods. LiDAR drones are increasingly utilized for commercial purposes due to their ability to efficiently capture high-resolution elevation data for various industries such as agriculture, forestry, construction, and environmental monitoring. For instance, in May 2023, according to the UK drone survey consisting of 2,000 adults conducted by the Civil Aviation Authority (CAA), a UK-based government authority that oversees aviation activities to ensure safety and regulatory compliance, drone users across the UK increased to 5% in 2023 compared to 3% in 2021. Commercial deliveries using drones are expected to grow by 30% in 10 years, compared to 13% in 5 years. Moreover, filming and media drone users are expected to grow from 42% in 2022 to 46% in 2023. Therefore, the growing usage of drones for commercial purposes is driving the growth of the light detection and ranging (LiDAR) drone market.

Key Industry Players

Major companies operating in the light detection and ranging (LiDAR) drone market are Trimble Navigation Ltd., Sick AG, Topcon Positioning Systems Inc., Leica Geosystems AG, FARO Technologies Inc., MicroDrones GmbH, UMS Skeldar, Teledyne Optech, Velodyne LiDAR Inc., 3D Robotics Inc., Routescene Ltd., NexCore Group, Benewake Co. Ltd., Delair SAS, GreenValley International, YellowScan Inc., Geodetics Inc., Phoenix LiDAR Systems, LiDARUSA, OnyxScan, SABRE Advanced 3D Surveying Systems, Cepton Technologies Inc., Hoverfly Technologies Inc., Riegl Measurement System, SZ DJI Technology company Ltd., Beijing SureStar Technology Co. Ltd.

The light detection and ranging (lidar) drone market report table of contents includes:

1. Executive Summary

2. Light Detection And Ranging (LiDAR) Drone Characteristics

3. Light Detection And Ranging (LiDAR) Drone Trends And Strategies

4. Light Detection And Ranging (LiDAR) Drone – Macro Economic Scenario

5. Global Light Detection And Ranging (LiDAR) Drone Size and Growth

…..

32. Global Light Detection And Ranging (LiDAR) Drone Competitive Benchmarking

33. Global Light Detection And Ranging (LiDAR) Drone Competitive Dashboard

34. Key Mergers And Acquisitions In The Light Detection And Ranging (LiDAR) Drone

35. Light Detection And Ranging (LiDAR) Drone Future Outlook and Potential Analysis

36. Appendix

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