Portland, May 14, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Airborne LiDAR Market garnered $316 million in 2017 and is expected to reach $1,010 million by 2025, registering a CAGR of 16.4% through 2025. The report offers an in-depth analysis of the market, covering aspects such as the key investment pockets, drivers, restraints, & opportunities, major market segments, strategic developments, and competitive landscape.
Falling prices of drones, growing applications of airborne LiDAR in aerospace & defense, and rise in demand for 3D imaging drive the growth of the global airborne LiDAR market. Nonetheless, stringent regulations by FAA (Federal Aviation Administration) for the commercial drone usage hamper the market growth. On the other hand, emerging applications in meteorology and autonomous vehicles along with rise in demand from the forestry and agriculture sectors create lucrative opportunities for the growth of the market in the future.
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Among components, the lasers segment contributed more than two-fifths of the market share in 2017 and likely to dominate the market during the study period. This is because of the growing use of airborne LiDAR in military & aerospace sectors, high capital investments in LiDAR solutions for the marine and utility industries, and emerging applications in archaeology, meteorology, and autonomous vehicles. However, the micro-electro mechanical system segment is likely to witness the fastest CAGR of 20.8% from 2018 to 2025. This is due to its ability to support functions of numerous electrical and mechanical instruments by a microchip.
Based on applications, the corridor mapping segment was the largest in 2017, capturing over one-third of the market share. Airborne LiDAR systems are preferably used for corridor mapping, which helps the planners and examiners to plan a smooth and short route with minimum obstacles during constructions as well as examine the preferred routes and their alternatives. Other applications segment is likely to witness the fastest CAGR of 18.2% through 2025, owing to their growing use in coastline management and metrological applications.
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The market in North America held the largest share of 46% share in 2017 and is likely to maintain its dominance during the forecast period. This is due to significant rise in use of airborne LiDAR in military applications as a replacement of the RADAR technology along with geospatial measurement and ships mapping in the region. However, LAMEA would grow at the fastest CAGR of 19.3% during the forecast period. This is due to the growth of archeological surveying operations in Egyptian countries, opportunities in oilfield industrial applications, and military advancements in missile and drone technologies assert for regional geospatial mapping in Middle East region.
The key players analyzed in the airborne LiDAR market report are Teledyne Technologies, Saab Group, Airborne Imaging, Leica Geosystems, Faro Technologies, Inc., Flir Systems, Inc., RIEGL Laser Measurement Systems GmbH, Merrick & Company, Firmatek, and Lasermap Inc.
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