[161 Pages Report] The LiDAR drone market is projected to grow from USD 133 million in 2020 to USD 392 million by 2025; it is expected to grow at a CAGR of 24.2% from 2020 to 2025. Key factors fueling the growth of this market include easing of regulations related to the use of commercial drones in different applications and growing demand for LiDAR drones for use in corridor mapping and precision agriculture applications.
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Short-range LiDAR drones accounted for the largest share of the LiDAR drone market in 2019.
In 2019, short-range LiDAR drones accounted for the largest share of the LiDAR drone market. The major factor contributing to the growth of this market is the increased focus of manufacturers of LiDAR drones on the development of short-range LiDAR drones. These LiDAR drones fly at low altitudes (below 200m). As such, there is no requirement for additional permissions to fly them in most of the regions. Short-range LiDAR drones are lightweight and power-efficient. Hence, these drones require small batteries, thereby leading to a reduction in their overall costs.
The corridor mapping segment accounted for the largest share of the LiDAR drone market in 2019.
Among applications, the corridor mapping segment accounted for the largest share of the LiDAR drone market in 2019. The growth of the corridor mapping segment can be attributed to the initiatives undertaken by governments of different countries to use digital terrain maps (DTMs) for carrying out infrastructure developments. Moreover, LiDAR drones do not pose any risk to humans. This is also contributing to their significant global demand, thereby leading to the growth of the LiDAR drone market in corridor mapping. LiDAR drones can be deployed to create DTMs of difficult terrains and remote areas by capturing accurate data.
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