Global Airborne LiDAR Market Report, published by Variant Market Research, forecast that the global airborne LiDAR Market size is expected to reach $6,273.9 Million by 2025. In this report, the global airborne LiDAR Market forecast says that the market is growing at a CAGR of 21.4% from 2017 to 2025. By geography, Europe is expected to grow at the fastest CAGR during the forecast period. An electric aircraft is powered by electric motors. Electricity can be provided by many methods with batteries, solar cells, ground power cables, ultracapacitors, fuel cells as well as power beaming. Development of the electric aircraft is measured one of the biggest opportunities of the aerospace sector. It is due to rising fuel costs, finite oil stocks and environmental concerns. it is becoming clear that new technologies are needed to meet future emission regulations, whereas lowering costs, as current technologies reach their limits.
Airborne LiDAR Market (By Solution: System Component, and Industry Services; By Platform: Fixed Wing Aircraft, Rotary Wing Aircraft, and UAVs; By Type: Airborne Topographic LiDAR, and Airborne Bathymetric LiDAR; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Benefits of electric aircraft compared to traditional aircraft fuels the global airborne LiDAR market
Rising demand for 3D imaging, rising use of UAVs in numerous applications, and reduction in price of drones are the global airborne LiDAR market trend. Though, lack of skilled personals and high cost of the instrument are hindrance of the airborne LiDAR market growth. Moreover, enormous prospects in GIS applications would provide new business opportunities for the market in near future.
The airborne LiDAR market segmentation includes solution, platform, type, and geography. Solution segment is classified into system component (hardware and software), industry services (defense & aerospace, forestry & agriculture, oil & gas, transportation & logistics, infrastructure, mining industry, and others). By platform, the bifurcation is given as fixed wing aircraft (system, and services), rotary wing aircraft (system, and services), and UAVs (system, and services). Moreover, type segment is categorized into airborne topographic LiDAR (system, and services), and airborne bathymetric LiDAR (system, and services).
On the basis of geography, global airborne LiDAR market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW) North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
By solution, transportation & logistics (industry services) sub-segment is anticipated to gain the fastest CAGR between 2017 and 2025
Transportation & Logistics sub-segment occupied the largest airborne LiDAR market share and expected to grow fastest CAGR throughout the forecast period owing highway and railway authorities use aerial mapping services provided by different service providers in the airborne LiDAR market. Additionally, upsurge in transportation and logistics activities is propelling the growth of the market worldwide.
Fixed Wing Aircraft, by platform dominated the market with the largest market size over the forecast period
On the basis of platform, fixed wing aircraft segment is accounted for the largest market share in 2017 and expected to continue its dominance throughout the forecast period 2017 – 2025. The high growth in the segment is attributed to a large number of light aircraft are designed and built to use commercially for survey, photograph, film, passengers and for freight transport, and sightseeing, and personal use, among others.
Airborne topographic LiDAR, by type is anticipated to be the largest segment for the airborne LiDAR market.
Airborne topographic LiDAR occupied the majority of the market size in the type segment in 2017, driven by rise in demand for enhanced situational awareness, and survey activities such as seismology, cartography, and meteorology, among others.
North America dominated the major market share in the global market
Geographically, North America is likely to attain the fastest CAGR throughout the forecast period, driven by increasing use of LiDAR systems in mapping and surveying applications and an increasing base of LiDAR services providers. Moreover, the key application areas of LiDAR sensors in the U.S. comprise military mapping, forest management, industrial survey, and oceanographic surveys.
The key players operating in the market are Saab AB, Teledyne Technologies Incorporated, Leica Geosystems AG, Faro Technologies Inc., Leosphere SaS, FLIR Systems, Inc., 3D Laser Mapping Inc., Quanergy Systems, Inc., Firmatek LLC, and Raymetrics S.A., among others.