US Market is being Driven by the Expanding use of LiDAR Drones in Mining, Agriculture, Inspections, Law Enforcement, and Archaeology.
As per Future Market Insights, the global LiDAR drone market size reached US$ 147.0 million in 2022. Overall LiDAR drone sales are set to accelerate at 19.8% CAGR between 2022 and 2032. By 2032, the total LiDAR drone market valuation will reach around US$ 892.0 million.
Rotary wing drones will remain the top-revenue generation category during the assessment period. The rotary wing LiDAR drones segment is likely to expand at 19.7% CAGR through 2032.
Rising usage across mining and agricultural industries is driving LiDAR drone demand. For drone-makers, growing investments in agricultural surveillance, mining surveillance, and road traffic surveillance will create enormous growth prospects.
LiDAR drones are extensively used in the mining industry to make the workflow smooth. They also enhance workers’ safety and help avoid accidents. Hence, the expansion of the mining industry will elevate LiDAR drone demand through 2032.
LiDAR drones are also gaining wider popularity in precision agriculture applications. Rapid shift towards modern agricultural practices will thus create lucrative opportunities for manufacturers.
Increasing government initiatives encouraging the use of LiDAR drones for surveys and law enforcement will boost LiDAR drone sales.
Key Takeaway:
- The worldwide LiDAR drone market size will reach US$ 892.0 million by 2032.
- Global LiDAR drone sales are set to rise at 15.9% CAGR through 2033.
- By drone type, rotary wing drone demand will increase at 19.7% CAGR between 2022 and 2032.
- Based on LiDAR type, the topographic segment is likely to expand at 19.6% CAGR.
- The United States LiDAR drone market is forecast to reach a valuation of US$ 258.2 million in 2032.
- Sales of LiDAR drones across South Korea are set to surge at 20.2% CAGR through 2032.
- The United Kingdom LiDAR drone market will progress at 18.8% CAGR.
- LiDAR drones demand across China is likely to rise at 20.8% CAGR over the next ten years.
“Widening application area of LiDAR drones will play a key role in boosting the global market through 2033.” Says a lead Future Market Insights analyst.
Regional Analysis
The United States lies at the center stage of LiDAR drone revenue growth. As per Future Market Insights, the United States LiDAR drone market size will reach US$ 300 million by 2032.
Overall LiDAR drone sales across the USA are forecast to rise at 17.9% CAGR through 2032. Between 2022 and 2032, the United States market is set to create an absolute $ opportunity of US$ 208.5 million. The USA LiDAR drone market expanded at a CAGR of 24.8% from 2017 to 2022.
The rising application of LiDAR drones in mining, agriculture, inspections, law enforcement, and archaeology is driving the United States market.
Who is Winning?
Key LiDAR drone manufacturers are constantly developing effective high-resolution scanning solutions. They are focused on their alliances with AI companies, technology collaborations, and product launch strategies.
Recent Developments:
- In 2022, Censys Technologies integrated LiDAR technology into their fixed-wing vertical take-off and landing drone (VTOL).
- In September 2022, Faro Technologies completed the transactions of buying United Kingdom-based Company GeoSLAM Ltd. GeoSLAM Ltd is a provider of mobile scanning solutions.