Future Opportunities and Key Players of LiDAR Drone Market

 ​The LiDAR Drone market is projected to grow from USD 147 million in 2022 to USD 508 million in 2027; it is expected to grow at a CAGR of 28.1%  from 2022 to 2027. Increasing application of LiDAR Drone in corridor mapping, environment and precision agriculture is driving the growth of the market.

 
Integration of artificial intelligence (AI) and LiDAR systems is expected to be a significant revolution in the field of drone-based mapping. AI can act as a solution to process data efficiently collected by LiDAR. AI models can process the output of LiDAR returns to make sense of a given environment, such as creating topographical maps. With the advancement in computer vision and image processing, AI can help automate the labeling process of the data generated by LiDAR to identify key objects in the scan, which, if done manually, is a laborious and time-consuming task and requires specialized expertise. AI enables the processing of unstructured data input and accurately outputs target objects for further analysis. This enables the development of 3D models that are both highly precise and consistently up to date. Such advances are likely to prove advantageous for various applications in different industries.

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Rotary-wing LiDAR drones are expected to grow at highest CAGR between 2022 and 2027. Rotary-wing LiDAR drones are more suitable for mapping applications than fixed-wing LiDAR drones owing to their higher flexibility, low cost, and better maneuverability. DJI (China), Dragonfly Inc. (Canada), Harris Aerial (US), and Vulcan UAV Ltd. (UK) are some of the significant players that manufacture rotary-wing LiDAR drones that can be equipped with LiDAR systems. Major manufacturers and integrators of LiDAR drones, which include RIEGL Laser Measurement Systems GmbH (Austria), UMS Skeldar (Switzerland), LiDARUSA (US), Geodetics, Inc. (US), and YellowScan (France), offer a wide range of rotary-wing LiDAR drones for surveying and mapping applications. Moreover, these companies are increasingly investing in developing highly flexible and reliable rotary-wing LiDAR drones for corridor mapping and precision agriculture applications.
 
Adoption of LiDAR drone in government projects is expected to create high growth opportunities for the market players. Governments of different countries such as India, China, the UK, and Australia are encouraging the use of LiDAR drones for carrying out large-scale surveys. For instance, in July 2021, the North Dakota Department of Transportation (US) acquired a GeoCue True View 640 3D Imaging System (3DIS) for their UAS program to help the department gather important analytic data. Government agencies of several other countries are deploying LiDAR drones for various applications. This is expected to act as an opportunity for the growth of the LiDAR drone market.

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