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Global Lidar Drone Market to Grow at a CAGR of 24.1% During 2022-2027, Driven by the Rapid Deployment of Lidar Drones in Military and Defence Applications

According to a new report by EMR titled, ‘Global Lidar Drone Market Report and Forecast 2022-2027’, the global LiDAR drone industry attained a value of about USD 165.3 million in 2021. The market is further expected to grow at a CAGR of 24.1% during the forecast period of 2022-2027 to reach nearly USD 603.7 million by 2027.

North America is expected to hold a significant share in the global market for lidar drones. This can be attributed to the proliferation of advanced technology in the region due to the strong market penetration of leading players and the ready availability of smart technology. In addition to this, as a result of robust investments in the military and defence of the United States, lidar drone technology is being rapidly employed for surveillance and navigation purposes, thereby pushing the growth of the market. Furthermore, ease in government regulations allowing the usage of drones for commercial purposes is also anticipated to positively influence the growth of the regional market in the coming years. Hence, due to the factors mentioned above, the United States market for lidar drones is witnessing innovations and developments for various industrial uses, thereby aiding the market's growth.

Velodyne Lidar (NASDAQ: VLDR), a leading player in the global market for lidar drones, recently announced a multi-year agreement to provide its lidar sensors to Topodrone in September 2021. Topodrone is a Switzerland-based company developing affordable, high-precision solutions for aerial surveys. Velodyne’s laser sensors enable high-precision mapping and 3D modelling to environments including farms, forests, and infrastructure, among others. Such developments by leading market players provide momentum to lidar drones' overall market growth.

Market Analysis by Type, Range, Component, Application, and Region:

  • Based on type, the market can be divided into fixed-wing and rotary-wing. 
  • The market can be segmented into short-range, medium-range, and long-range based on range. 
  • The market, based on components, can be categorised into cameras, navigation and positioning systems, and laser scanners, among others. 
  • Based on application, the market can be segmented into corridor mapping, aerospace and defence, mining, construction, entertainment, environment, and agriculture, among others.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

  • The market growth can primarily be associated with the increasing applicability of drones in various applications and the development of lidar drone technology in recent years.
  • The rising use of lidar drone technology for corridor mapping in constructional projects like roadways, railways, and mining, among others, for accurate geographical information is providing impetus to market growth.
  • The rise in the number of infrastructural projects owing to urbanisation and industrialisation in developing economies is expected to positively influence the market growth of lidar drones in the construction sector.
  • The market is expected to benefit from the rising adoption of short-range drones for their lightweight structure and power-efficient technology.

Key Offerings of the Report:

  • The EMR report gives an overview of the global lidar drone industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for types, ranges, components, applications, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global lidar drone market are 3D Robotics, Inc., Teledyne Optech, Trimble Navigation Ltd., Velodyne LiDAR, Inc., Faro Technology, Phoenix LiDAR Systems, and MicroDrones, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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