DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "LiDAR Drone Market by Product (Rotary Wing, and Fixed Wing), Component, Application (Corridor Mapping, Archaeology, Construction, Environment, Entertainment, and Precision Agriculture), Geography - Global Forecast to 2022" report to their offering.
The LiDAR Drone Market was Valued at USD 16.1 Million in 2015 and is Expected to Reach USD 144.6 Million by 2022 at a CAGR of 35.2% between 2016 and 2022
This market growth is attributed to the encouragement from governments and research institutes for the adoption of LiDAR drones. The increasing automation through LiDAR drones and reduction of human efforts drive the growth of the market. LiDAR drones have applications in corridor mapping, archaeology, precision farming, environment, construction, and entertainment.
The market for rotary wing LiDAR is expected to grow at the highest CAGR between 2016 and 2022. Rotary wing drones are smaller in size and cheaper than fixed wind LiDAR drones. Their design enables them to access confined spaces such as pipelines and bridges, owing to which they are used for inspection & monitoring applications. They can fly vertically and horizontally and can also hover in a fixed position, which makes them best suited for aerial photography and high-resolution video capturing.
The laser scanner segment of the market is expected to grow at the highest CAGR between 2016 and 2022. The laser scanner exhibits high wavelength and is used to make clear 3D models for the surveyed area. The corridor mapping application held the largest share of the overall market Owing to the increasing infrastructure development and use of LIDAR drones for the construction of roadways, highways, and railways.
The market in the APAC region is expected to witness the highest CAGR between 2016 and 2022. The increasing awareness among customers regarding the benefits of LiDAR drones such as high accuracy and low cost and government support through adoption in various projects are the major reasons for the high growth of this market. The growing adoption of LiDAR drones in APAC countries such as China, Japan, and India is expected to contribute to growth of this market. For instance, LiDAR drones are used for surveying railway projects in India.
Velodyne LiDAR is the leader in the LiDAR drone market and has played a significant role in the development and promotion of this technology. The company relies on new product developments and innovations to meet the changing requirements of the market. Recently, the company introduced a low-cost LiDAR sensor priced at USD 7,999, which has a significant opportunity for growth owing to its various applications in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 LiDAR Drone Market, By Component
8 LiDAR Drone Market, By Product
9 LiDAR Drone Market, By Application
10 LiDAR Drone Market, By Geography
11 Competitive Landscape
12 Company Profiles
- 3d Robotics, Inc.
- Faro Technology
- Leica Geosystems AG
- Optech Inc.
- Phoenix Aerial Systems
- Riegl Laser Measurement Systems GmbH
- Sick AG
- Trimble Navigation Limited
- Velodyne LiDAR, Inc.
For more information visit http://www.researchandmarkets.com/research/43csdw/lidar_drone