The global airborne LiDAR market is expected to reach $1,010 million by 2025, from $316 million in 2017, growing at a CAGR of 16.4% from 2018 to 2025. According to a report by Allied Market Research, surge in demand for 3D imaging, declining prices of drones, and increasing applications in the aerospace and defense sector are driving the growth in the market. However, stringent regulations by the Federal Aviation Administration (FAA) for commercial drone usage limit the growth in the market. On the other hand, emerging applications in meteorology and autonomous vehicles along with rise in demand from the forestry and agriculture sectors create new pathways in the industry.
Lasers contributed the major market share in 2017, accounting for more than two-fifths of the total market share, and are expected to dominate throughout the forecast period. This is due to increase in usage in the military and aerospace sectors, high capital investments in LiDAR solutions for the marine and utility industries, and emerging applications in archaeology, meteorology, and autonomous vehicles. However, microelectromechanical systems (MEMS) are expected to grow at the highest CAGR of 20.8% from 2018 to 2025 because of their ability to support various functions of electrical and mechanical instruments and manage numerous sensing and analysis activities in synchronization in LiDAR.
The corridor mapping segment contributed to more than one-third of the total market share in 2017 and is expected to continue its dominance by 2025. This is due to its efficacy for planners and examiners to outline smooth and short routes with less obstacles during the construction activity and determine the preferred routes and their alternatives. Other applications would register the highest growth with a CAGR of 18.2% from 2018 to 2025, owing to surge in its usage in coastline management and metrological applications along with pollution modeling for its effectiveness in detecting particles in air and water.
The mining industry is anticipated to grow at the highest CAGR of 18.7% from 2018 to 2025, due to widespread usage of photogrammetric processing and aerial imagery to speed up the process of data collections, detect mine locations, and improve cost-effectiveness. However, the aerospace and defense industry contributed the highest market share in 2017, with nearly one-third of the total market share. This segment is expected to maintain its dominance throughout the forecast period because of an increase in usage to protect perimeters, lower the loss of life in the field of war, monitor borders, and keep locations under aerial surveillance.
North America contributed to nearly half of the total market share in 2017 and is expected to maintain its leadership status by 2025. This is due to significant rise in usage in military applications as a replacement of radar technology along with geospatial measurement and ship mapping. However, LAMEA is expected to register the highest growth rate, with a CAGR of 19.3% from 2018 to 2025, owing to rise in archeological surveying operations in North African region, rise in oilfield industrial applications, and advancements in missile and drone technologies for regional geospatial mapping in the Middle East region. The report also analyzes regions including Europe and Asia-Pacific.
Key market players analyzed in the research include Teledyne Technologies, Airborne Imaging, Saab Group, Faro Technologies, Inc., Leica Geosystems, RIEGL Laser Measurement Systems GmbH, Flir Systems, Inc., Firmatek, Merrick & Company, and Lasermap Inc. They have adopted various strategies including product portfolio expansion, agreements, mergers and acquisitions, geographical expansion, partnerships, and others to gain a major market share and stronghold in the industry.
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