Portland, OR, March 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global LiDAR drone market garnered $0.15 billion in 2021, and is estimated to generate $1.0 billion by 2031, manifesting a CAGR of 22.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.15 billion |
| Market Size in 2031 | $1.0 billion |
| CAGR | 22.1% |
| No. of Pages in Report | 388 |
| Segments covered | LiDAR type, drone type, drone range, application, and region |
| Drivers | Surge in adoption of LiDAR drone for mining application Growth in investments in smart city projects Expansion in applications in civil and defense engineering |
| Opportunities | Rise in adoption of aerial data collection tools for environmental purposes Higher investments in the drone industry |
| Restraints | Stringent restrictions and regulations related to use of drones in various countries Lack of trained personnel to operate LiDAR drone High operational and purchasing cost |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global LiDAR drone market, owing to implementation of global lockdown which resulted to temporary closure of production excess.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- The Covid-19 had swapped the various scenarios of OEMs and other end-use industries across the globe, which in turn, restricted the growth of the market during 2020 to 2021.
The research provides detailed segmentation of the global LiDAR drone market based on LiDAR type, drone type, drone range, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on drone type, the rotary wing segment held the highest share in 2021, accounting for around three-fifths of the global LiDAR drone market, and is expected to continue its leadership status during the forecast period. However, the fixed wing segment is expected to register the highest CAGR of 23.9% from 2022 to 2031.
Based on drone range, the short segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global LiDAR drone market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the long segment is expected to manifest the highest CAGR of 25.9% from 2022 to 2031.
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Based on application, the environment segment accounted for the highest share in 2021, holding around two-fifths of the global LiDAR drone market, and is expected to continue its leadership status during the forecast period. However, the others segment is estimated to grow at the highest CAGR of 25.8% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to more than two-fifths of the global LiDAR drone market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 25.5% during the forecast period.
Leading market players of the global LiDAR drone market analyzed in the research include Phoenix Lidar Systems, Leica Geosystems AG, Teledyne Imaging, Topodrone, PolyExplore Inc., Microdrones, UMS Skeldar, yellowscan, OnyxScan, RIEGL Laser Measurement Systems GmbH.
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The report provides a detailed analysis of these key players of the global LiDAR drone market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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