According to the research report titled ‘LiDAR Drone Market Share, Size, Trends, Industry Analysis Report, By Type; By Range; By Component; By Application; By Regions; Segment Forecast, 2020 – 2026’, available with Market Study Report, global LiDAR drone market is expected to account for USD 372.5 billion by the year 2026.
 

LiDAR drones are known to collect crucial data points relatively faster. These drones are not only time and cost effective, but also allow for improved safety and enhanced quality data. Thus, widespread adoption of LiDAR drones in construction, mining, hydrology, forestry, and transportation applications are fueling the market size.
 

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Moreover, increasing utilization of LiDAR drones in agriculture sector for enhancing yield production, improving soil conditions, and for crop health management are paving the way towards the overall market expansion.
 

As per type, although the rotary-wing segment accounted for the largest market share in 2019, fixed-wing segment is likely to emerge as a major revenue generator in the upcoming years. Fixed-wing LiDAR drones offer longer flight autonomy, improved output quality, and can cover larger areas. They also provide better aerodynamic performance, noise elimination, and greater control of image quality, and hence is fueling the segmental share.
 

Moving on to component type, the report states that cameras segment is likely to generate lucrative revenues for worldwide LiDAR drone market in the upcoming years. Cameras are primarily used for capturing images of target objects or environment and can be equipped with 3D sensing technology. 3Dcameras are extensively used for texturing and mapping purposes in construction, agriculture, earth surface surveying, space research, aeronautics, and military applications, and hence is facilitating the overall business scenario.
 

Global LiDAR drone market share from construction sector is likely to witness stellar growth by 2026, owing to their high adoption for land mapping and construction activities. Increasing infrastructural development and favorable government initiatives are contributing towards the overall market dynamics.
 

As per the regional analysis, North America is set to capture the largest market share by 2026, owing to growing demand for LiDAR drones from government, defense, military, and agriculture applications. Surging investments in defense sector coupled with technological breakthroughs in telecommunications vertical are also adding traction to North America LiDAR drones industry size.
 

3D Robotics Inc., Leica Geosystems AG, Sick AG, Delair, LiDAR USA, YellowScan, Riegl Laser Measurement Systems GmbH, Teledyne Optech, UMS SKELDAR, Phoenix LiDAR Systems, Velodyne Lidar Inc., SZ DJI Technology Co. Ltd., Trimble Inc., Faro Technologies, and Geodetics Inc. are the key participants in global LiDAR drone market.