Provided by BIS Research
LiDAR (Light Detection and Ranging) is a remote surveying technology and used to measure a target by illuminating it by pulse laser light. Due to delivering accurate and precise data cost-effectively, airborne LiDAR provides a high-resolution geospatial data acquisition. Airborne LiDAR systems can support an even wider range of applications when simultaneously acquiring aerial imagery and data points. Although the technology has been in existence for a few years now, there is still a small number of airborne LiDAR manufacturers, the consensus is currently that airborne LiDARs are the cost-effective alternative to the conventional technologies for creating digital geospatial models with accuracy.
According to the latest market intelligence report titled ‘Global Airborne LiDAR system Market- Analysis and Forecast (2017-2021)', the global airborne LiDAR System market accounted to revenue of $732.4 million in the year 2016. It is expected to reach $1.55 billion by 2021, growing at a CAGR of 16.1% during 2016 - 2021. Its high global demand is owed to the superiority of LiDARs as compared to conventional sensors, and a rise in the demands for miniaturized Micro- Elector Mechanical Systems (MEMS) sensors.
The biggest end user of airborne LiDAR is currently the mining industry (with a market share of 36.4% in 2016), followed closely by aerospace and defense, logistics and civil engineering. An increased demand for airborne LiDAR system in the earth science sector is due to its various applications including flood and pollution modeling, coastline management, and archaeology. While the market continues to offer opportunities for innovations, high prices and complex design of airborne LiDAR significantly inhibit its growth and demand for miniaturized MEMS sensors.
Innovative product launch, pricing strategies, acquisition of small-scale start-ups, development of efficient and cost-effective rapid sensing solutions for different end users to only name a few, are key initiatives prominent market players are currently taking. At the same time, they are working with various countries’ governments towards increasing the funding in the airborne mapping system.
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