Portland, OR, June 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. airborne LiDAR market generated $0.21 billion in 2020, and is estimated to generate $1.03 billion by 2030, witnessing a CAGR of 17.70% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenario, and competitive landscape.
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Technological breakthroughs in forestry and agriculture applications and expansion in the defense and aerospace industries drive the growth of the U.S. airborne LiDAR market. In addition, rise in adoption of LiDAR in engineering and construction applications boosts the growth of the market. However, lack of understanding among end users is a major stumbling block for the airborne LiDAR business in the United States. Increased usage of GIS (Geographic Information System) technologies, on the other hand, is predicted to open up lucrative potential for the US airborne LiDAR business.
Covid-19 Scenario:
- The Covid-19 pandemic had a severe impact on the electronics and semiconductor industries. Due to a rise in the number of Covid-19 cases, businesses and manufacturing facilities in several nations were closed. Furthermore, the imposed lockdown has impacted the US supply chain, making it difficult for manufacturers to contact their customers.
- Furthermore, the Covid-19 pandemic had an influence on the electronics industry.Since production facilities were halted, demand for electronics and semiconductor items in the industry increased. It has a significant impact on European manufacturing and Asian components exports, which may limit the market opportunity for airborne LiDAR in the United States.
- Once the economy gets back on track, demand for new and innovative products is projected to increase. Companies are likely to invest in next-generation goods based on new technology, since increased client demand is projected to raise their goodwill.
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The report offers detailed segmentation of the U.S. airborne LiDAR market based on component, end user, and application.
Based on component, the lasers segment accounted for the largest share in 2020, holding more than one-third of the total share. However, the GPS/GNSS receivers segment is estimated to manifest the highest CAGR of 24.60% from 2021 to 2030.
Based on application, the corridor mapping segment held the largest market share, contributing to more than one-third of the U.S. airborne LiDAR market in 2020, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the exploration and detection segment is estimated to portray the fastest CAGR of 17.87% from 2021 to 2030.
Based on end user, the aerospace and defense segment contributed the highest share in 2019, accounting for nearly one-third of the total market, and is estimated to continue its lead position by 2030. However, the forestry and agriculture segment is expected to grow at the largest CAGR of 20.56% during the forecast period.
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Leading players of the U.S. airborne LiDAR market analyzed in the research includeFaro Technologies Inc., 3D Laser Mapping (GeoSLAM), Firmatek LLC, Leosphere SaS (Vaisala), Leica Geosystems Inc. (Hexagon), Raymetrics S.A., Saab, RIEGL Laser Measurement Systems GmbH, Teledyne Technologies, and SAM LLC.
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