“The airborne LiDAR market is projected to grow at a CAGR of 17.32% from 2017 to 2022”
The airborne LiDAR market is projected to grow from an estimated USD 1,140.1 million in 2017 to reach USD 2,533.7 million by 2022, at a CAGR of 17.32% from 2017 to 2022. The airborne LiDAR market has been rapidly growing, especially in the Asia Pacific region, owing to the rapid infrastructural development and rising demand for surveying and mapping services. Increasing use of unmanned aerial vehicles in various applications and increasing adoption of LiDAR in engineering and construction applications are the factors driving the airborne LiDAR market globally. On the other hand, the lack of awareness among end users is restraining the market growth and technological constraints pose a challenge in the use of LiDAR. However, immense opportunities in GIS applications will positively impact the market growth.
“The system component is expected to be the largest market from 2017 to 2022”
The system component segment is expected to constitute the largest market of the airborne LiDAR market, by solutions, from 2017 to 2022. The system component segment covers both hardware and software. Hardware include lasers, scanners, and interface devices, inertial measurement systems, and GPS/position systems, among others. The increase in survey and terrain mapping applications across the globe is driving the market for airborne LiDAR system components.
“Oil & Gas Industry: The largest service end user of airborne LiDAR”
Most of the offshore oil wells use bathymetric LiDAR to identify the damage caused by ocean waves, and to map underwater surface assets, such as pipelines, and concrete pillars. This sector is also increasingly using LiDAR technologies to assist in the establishment of smart transportation of petroleum products. The focus on production optimization in the oil & gas industry will positively impact the market for airborne LiDAR in this sector.
“North America: The largest market for the airborne LiDAR market”
North America is currently the largest market for airborne LiDAR, followed by Europe and Asia Pacific. The growth in North America is primarily driven by the US and Canada. The major application areas of LiDAR sensors in the US include industrial survey, military mapping, forest management, and oceanographic surveys. In Canada, airborne LiDAR sensors are majorly used in infrastructural development activities. Both, the US and Canada are technologically superior countries, with a huge potential to invest in LiDAR-based sensors and equipment, which, in turn, will drive the airborne LiDAR market in the North American region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
- By Designation: C-Level - 35%, D-Level - 25%, Engineer-Level - 40%
- By Region: North America - 45%, Europe - 20%, Asia Pacific - 30%, Rest of the World - 5%
The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = > USD 1 billion, Tier 2 = From USD 100 million to USD 1 billion, and Tier 3 = < USD 100 million
Reasons To Buy the report:
From an insight perspective, this research report has focused on various levels of analysis, such as, industry analysis (industry trends), market ranking of top players, supply chain analysis, and company profiles, which together comprises and discuss the basic views on the competitive landscape; emerging and high-growth segments of the airborne LiDAR market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on products and integrated solutions and services offered by top players in the global airborne LiDAR market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the airborne LiDAR market
- Market Development: Comprehensive information about lucrative emerging markets- the report analyzes the markets for airborne LiDAR across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global airborne LiDAR market
- Competitive Assessment: In depth analysis of all the key players, strategies, products, and manufacturing capabilities of the leading players in the global airborne LiDAR market
- Market Sizing: Market size for the financial year 2015-2016 and projection of the market size from 2017 to 2022