Market Trends of LiDAR Drones Industry
This section covers the major market trends shaping the LiDAR Drones Market according to our research experts:
Construction is Expected to Witness Significant Growth
- New workflows, procedures, and applications have been developed as a result of the usage of LiDAR drones in the construction industry for planning, surveying, and mapping applications to reduce associated risks. With these drones' 3D maps of the land, which can see through thick vegetation, construction companies can make good plans.
- Terra Drone Indonesia (a group company of Terra Drone Corporation) successfully completed aerial LiDAR survey and mapping pilot projects for two major construction companies in Indonesia. Terra Drone Indonesia used drones with LiDAR technology to do survey-grade topographic mapping for two dam-building projects in the country.
- In Bogor, the LiDAR drone technology was showcased to Wijaya Karya (Persero), a construction engineering company working on the dam project in Megamendung. Covering an area of about 20 hectares in a single day, Terra Drone Indonesia captured high-resolution data and images to generate an accurate topographic map and 3D model of the construction site. The images and data can now support decision-making in project-control activities like planning or measuring the work progress.
- In Purworejo, the survey was done for PT PP (Persero) Tbk, one of the major players in the national construction business in Indonesia. Terra Drone Indonesia did aerial LiDAR topographic mapping for the dam construction project in a densely forested area over the course of 4 days. This was done to get data and pictures that would help the construction go smoothly.
The growing construction industry will propel the market under consideration even further. For instance, the FMI Corporation estimates that the value of new buildings built in the United States in 2021 was close to 1.6 trillion dollars, and that figure will likely exceed 2 trillion dollars by 2025. Over the past few years, construction investment has been gradually increasing. Along with non-residential construction, it is anticipated that residential building construction spending will continue to expand in 2021.
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North America is Expected to Dominate the LiDAR Drone Market
- The United States is anticipated to be one of the most important markets for LiDAR drones, primarily due to the increasing investments in innovative technologies in the defense sector. Also, the country has the biggest military budget in the world and spends a lot of money on high-tech defense tools and equipment.
- Moreover, an emerging trend toward collecting data at higher points by flying lower and slower has also been widely adopted in the industry. Multiple scientists stated that by adopting this method, the system could measure ground with 520 or up to 40 points per square meter. This method is used a lot in the United States for topographic surveys because it is thought to give an accurate and precise map of the objects.
- Additionally, the presence of significant U.S. producers, including Velodyne Lidar, Inc., Phoenix LiDAR Systems, and LiDARUSA, is promoting market expansion in North America. According to several research studies, there are many specialists and professional users in the U.S., which helps the market expand significantly. In the US, people are making and improving LIDAR-based technology in amazing ways to help mapping businesses do better.
- This trend has positively impacted the adoption of aerial technology by mining and forest agencies like TriMetals Mining and the US Forest Service for finding new mineral sources across forests, which is expected to make LiDAR drones common in the mining industry.
- In June 2022, Banctec, Inc., a provider of goods and services, reports that a state police agency had placed an order with its subsidiary, Drone USA, for the procurement of two extremely sophisticated drones and related equipment. These drones are made for mapping and can see in the dark. They can fly for up to an hour, have Lidar and cameras that can zoom at night.
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