Global Airborne LiDAR System Market Anticipated to Reach $1.55 Bn by 2021 at a CAGR of 16.1%

April 09, 2018

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According to a market intelligence report, now available on ASDReports, titled "Global Airborne LiDAR System Market, Analysis & Forecast, 2017-2021", the global airborne LiDAR system market is expected to reach $1.55 billion by 2021, growing at a CAGR of 16.1% during the period, 2016 - 2021. Over the past decade, a revolution in remote sensing technology has occurred, thus, increasing the utilization of new airborne mapping technologies, such as LiDAR. In the recent years, airborne LiDAR has gained traction owing to the delivery of highly efficient remote sensing data, with cost effectiveness.

LiDAR (Light Detection and Ranging) is a remote sensing technology, which is basically light in the form of a pulsed laser to measure the variable distance between the platform and the object on the ground. LiDAR is regarded as a revolutionary technology for airborne mapping as it delivers highly accurate terrain data in a cost-effective and opportune manner. Although the technology has been in existence since a few years now, there is still a small number of airborne LiDAR manufacturers, globally, when compared with airborne LiDAR mapping services. However, there is a developing consensus in the airborne mapping industry, that airborne LiDARs are the cost-effective alternative to the conventional technologies for creating digital geospatial models with accuracy.

The airborne LiDAR system market has witnessed a high growth rate owing to significant demand for airborne imaging systems worldwide, technical superiority of LiDARs as compared to conventional sensors, and rise in the demand for miniaturized Micro-Elector Mechanical Systems (MEMS) sensors. The recent innovations in LiDAR equipment and services enable the airborne LiDAR technology to reach a wider segment of consumers in the industry. However, high price of LiDARs and complex design and development of LiDARs, act as a major challenge for the growth of the market. Companies are developing emerging technologies such as single photon mode LiDAR, Geiger mode LiDAR, and high end graphic processing unit, among others, which are expected to increase the competition soon, as well as facilitate the utilization of airborne LiDAR as primary remote sensing equipment for mapping and surveillance. Furthermore, the airborne LiDAR system market is filled with technological developments in components, such as laser, Inertia Measurement Unit (IMU), Global Navigation Satellite System (GNSS), and graphic processing unit, to facilitate significant reduction in cost and enhanced functionality.

Utilization of LiDARs for rail data capture, emerging applications of LiDAR sensor, and innovations in LiDAR technology are the major factors which are expected to create lucrative opportunities for the market players in the next five years. The market is filled with advancements in airborne LiDAR for ground navigation and traffic management. The airborne mapping industry is currently witnessing rapid growth in the number of airborne LiDAR for earth science and forestry. Upcoming airborne mapping technologies, combined with LiDARs, are displacing the traditional methods of controlling and monitoring in ground mapping services.

The major focus of the airborne mapping industry is to make the systems and services more affordable and consequently more accessible to a broad range of end users. With drastic rise in the utilization of airborne LiDAR, various end users, including aerospace & defense, earth science & research, civil engineering, forestry & agriculture, mining industry, and ground transportation & logistics, are investing in the market and availing the airborne mapping services to generate greater revenues.

According to Ayushi Bajpai, analyst at BIS Research, “Mining industry had the highest penetration in the airborne LiDAR system market in 2016, with a market share of 36.4%, mainly due to increase in the number of ortho-imagery/LiDAR projects for the mining community in the market. However, earth science and research end user for the airborne LiDAR system market is anticipated to foster the highest growth in the market owing to high demand for accuracy in the airborne mapping for flood modelling, pollution modelling, coastline management, and archaeology, among others.”

The report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by systems and services, wherein systems including hardware and software; platform, including Unmanned Aerial Vehicle (UAV), aircraft, and satellite; and end users, namely: aerospace & defense, earth science & research, civil engineering, forestry & agriculture, mining industry, and ground transportation & logistics. The report also includes a comprehensive section on the geographical analysis including North America, Europe, Asia-Pacific, and Rest of the World.

This report is a meticulous compilation of research on more than 100 players in the airborne mapping industry and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles around 16 companies, which are leading airborne LiDAR manufacturers and service providers, including 3D Laser Mapping Ltd., Airborne Imaging Inc., Faro Technologies Inc., FLIR Systems, Inc., Lasermap Inc., LeddarTech Inc., Leica Geosystems AG - Part of Hexagon AB, Leosphere SaS, Phoenix LiDAR Systems LLC, Quanergy Systems, Inc., rapidlasso GmbH, RIEGL Laser Measurement Systems GmbH, Teledyne Technologies, Inc., Trimble Inc., Velodyne LiDAR, Inc., and YellowScan SAS, among others. The report also focuses on the emerging start-ups in the airborne LiDAR system market and provides a snapshot of the strategic developments done by them.

Key questions answered in the report:
• What was the size, in terms of revenue and volume, of the airborne LiDAR system market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
• What is the market size of systems and services market, wherein systems included hardware and software?
• What was the market value of different platforms deploying airborne LiDARs in 2016? What are the technological advancements and opportunities for the stakeholders across different platforms?
• What is the market analysis of the end users of airborne LiDAR such as aerospace & defense, earth science & research, civil engineering, forestry & agriculture, mining industry, and ground transportation & logistics?
• What is the market size of airborne LiDAR based on different geographical regions and respective leading nations? Furthermore, what is the market size of systems and services market in these regions?
• What are the key trends and opportunities in the airborne LiDAR system market, across different regions and respective countries?
• What are the major driving forces that are expected to increase the demand of airborne LiDAR during the forecast period?
• What are the major challenges inhibiting the growth of the global airborne LiDAR system market?
• What kind of new strategies are being adopted by the existing market players to make a mark in the industry?
• What is the competitive strength of the key players in the airborne LiDAR system market by analyzing through competitive benchmarking model?
• Who are the key players operating in the market, along with their business financials, company snapshots, key products & services, major developments, SWOT analysis and future programs?

Read more on ASDReports or Download Report Information

Source : ASDReports - Market Research

Global Airborne LiDAR System Market Anticipated to Reach $1.55 Bn by 2021 at a CAGR of 16.1%

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