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The current business scenario has witnessed an upsurge in the adoption of airborne LiDAR owing to low cost, drone-based imaging. Further, innovations in the laser technology help to bring price corrections in different airborne LiDAR products. Various government agencies and commercial users are on a constant lookout for ways to replace traditional aerial photography methods with drones, due to high-resolution images at a low cost. With the collective effect of these factors and extensive R&D, the global airborne LiDAR market is anticipated to witness growth in next 5–6 years.
Prasad Kakade
Lead Analyst, Semiconductors & Electronics at Allied Market Research
A new report published by Allied Market Research, titled,"Airborne LiDAR Market by Component, Application and End User: Global Opportunity Analysis and Industry Forecast, 2017 - 2025,"the global airborne LiDAR market was valued at $316.2 million in 2017 and is projected to reach $1010.5 million by 2025, growing at a CAGR of 16.4% from 2018 to 2025.
Advancements in laser technology and aerial vehicles have reduced the cost of airborne LiDAR systems. Furthermore, increase in airborne LiDAR applications in various industries, apart from conventional military applications, has accelerated the demand for airborne LiDAR globally. Moreover, reduction in price of drones, expansion of applications in defense & civil engineering, and rise in demand for 3D imaging are projected to supplement the market growth. Fueled by the high demand for accurate and high-resolution 3D images of the tracked object, these aerial vehicles are most widely used in defense & aerospace, civil engineering, forestry & agriculture, transportation & logistics among other domains.
Among the various industries, the defense & aerospace segment contributed the highest revenue share, of the overall market revenue. This segment is expected to maintain its dominant position throughout the forecast period. However, the mining industry sector is expected grow at the highest rate during the forecast period.
The major players profiled in this report include Teledyne Technologies, Saab Group, Airborne Imaging, Leica Geosystems, Faro Technologies, Inc., Flir Systems, Inc., RIEGL Laser Measurement Systems GmbH, Merrick & C
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Airborne LiDAR Market by Component (Lasers, Inertial Navigation Systems, Cameras, GPS/GNSS Receivers, and Micro-electromechanical Systems), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Aerospace & Defense, Civil Engineering, Archaeology, Forestry & Agriculture, Mining Industry, and Transportation & Logistics): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
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"Global Airborne LiDAR market to Reach $1,010.5 million by 2025"
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