LiDAR Drone Market Size , Share and technology Update
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. The growth of the market is attributed to the growing interest of mining players in adopting LiDAR drones for different applications and adoption of LiDAR drones in precision agriculture and corridor mapping applications. The adoption of LiDAR drones by government bodies in different countries for various projects is likely to create high growth opportunities for the market.
Due to the rising demand for high-resolution airborne imaging and surveying capabilities, the LiDAR drone industry is growing quickly. Light Detection and Ranging, or LiDAR, is a type of remote sensing that employs laser pulses to build three-dimensional representations of the environment.
Compared to conventional aerial surveying techniques like piloted aircraft or ground-based surveying, LiDAR drones provide a number of advantages. They are quick, efficient, and have good precision when covering huge regions. Because to these advantages, LiDAR drones are becoming more and more common in a range of sectors, including construction, agriculture, mining, and forestry.
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The rising demand for high-resolution aerial imagery is one of the main factors driving the LiDAR drone market. For uses like precision agriculture and building planning, LiDAR drones can take pictures with resolutions as high as a few centimetres. Furthermore, LiDAR drones can operate in hazardous areas like dense forests or rough terrain, where it would be difficult or impossible to use conventional surveying techniques.
Over the next few years, the market for LiDAR drones is anticipated to expand quickly due to technological advances and rising demand from a variety of industries. For instance, recent advancements in LiDAR sensors have produced lightweight, inexpensive systems that are perfect for use on drones.
North America’s dominance can be attributed to the inclination of various governments to adopt advanced technologies such as LiDAR drones in surveying applications. The market in North America is also driven by market leaders headquartered in the region.
Phoenix LiDAR Systems (US), Teledyne Optech (Canada), Velodyne LiDAR, Inc. (US), and Geodetics, Inc. (US) are some of the prominent players in the LiDAR drone market in North America.
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