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 reach a valuation of USD 372.5 billion by the year 2026.
 

The rapid expansion of global LiDAR drone market can be attributed to its widespread adoption in applications such as construction, mining, hydrology, forestry and transportation. It is to be noted that LiDAR drones can collect data points at relatively high speeds.
 

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These drones also offer increased safety, high quality data as well as cost effectiveness. Growing demand for LiDAR drones from agriculture sector in order to improve crop yield, soil conditions and overall crop health management is further augmenting the industry remuneration.
 

As per type, although the rotary-wing segment accounted for the largest share in global LiDAR drone market in the year 2019, fixed wing segment is predicted to witness considerable growth in the forthcoming years. Fixed wing LiDAR drones not only offer longer flight autonomy but can also cover large areas while providing high quality data. Moreover, these drones have noise cancellation, better control over image quality, and high aerodynamic performance, which is fueling the segmental share.
 

Moving on to component type, global LiDAR drone market from cameras segment is expected to grow substantially during the forecast period. Cameras play a vital role in LiDAR drones as they are primarily used for capturing images of a targeted object or the environment. They can also be optimized using a 3D sensing technology and can capture videos in real-time. In fact, 3D cameras are widely adopted for construction, agriculture, surveying, space research, aeronautics and military applications and hence, is positively influencing worldwide LiDAR drone industry dynamics.
 

Speaking of application scope, the report cites that the construction segment is estimated to emerge as a major revenue generator for global LiDAR drone industry. The product is widely adopted by land developers for construction well as mapping purposes. LiDAR drones can be used for large scale projects such as piping, energy transportation lines, canals, railroads and roads. Thus, supportive regulatory framework which encourages mining, engineering and construction activities is adding traction to the overall market size.
 

Highlighting the regional spectrum, North America LiDAR drone industry is estimated to generate lucrative revenues during the forecast period. Mounting use of LiDAR drones in government, defense, mining and agriculture sectors coupled with surging defense expenditure are favoring the regional market outlook. Growing demand for high quality images coupled with technological advancements are also boosting LiDAR drone market outlook in North America.
 

3D Robotics Inc., Leica Geosystems AG, microdrones GmbH, Sick AG, Delair, LiDAR USA, OnyxScan, YellowScan, RIEGL Laser Measurement Systems GmbH, Optech Inc., UMS Skeldar, Phoenix LiDAR Systems, Velodyne LiDAR Inc., SZ DJI Technology Co. Ltd., Trimble Navigation Limited, FARO Technologies Inc., and Geodetics Inc. are the major companies operating in global LiDAR drone industry.