NEW YORK, Nov. 30, 2021 /PRNewswire/ — The airborne LiDAR system market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The airborne light detection and ranging (LiDAR) system market is set to grow by USD 900.41 million from 2020 to 2025. The report projects the market to progress at a CAGR of 15.70%. In addition, the report offers a detailed analysis of the current market scenario, the latest trends, drivers, challenges, and the overall market environment.
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The airborne light detection and ranging system market report also offers information on several market vendors, including FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Merrick and Co., Phoenix LiDAR Systems Operations LLC, Quanergy Systems Inc., Raymetrics, RIEGL Laser Measurement Systems GmbH, and Teledyne Technologies Inc. among others.
Airborne Light Detection and Ranging (LiDAR) System Market: Drivers
Application of remote sensing technologies for disaster management to drive growth
Disasters often act as catalysts for the adoption of new and emerging technologies. Given the growing need for quick collection of vital information for disaster management, emerging remote sensing technologies such as LiDAR have become critical in assessing potential hazards in a comprehensive manner. A LiDAR can be topographic, bathymetric, or both. Topographic LiDAR systems deploy a pulsed laser to measure and record three-dimensional information on the earth’s surface, while a bathymetric LiDAR records similar information on the seafloor or riverbed.
Airborne Light Detection and Ranging (LiDAR) System Market: Challenges
Exorbitant pricing may impede the market growth
Ensuring higher prices and improving sale volumes at the same time to enable price optimization are critical for the prospects of a business operation. A LiDAR system commands a premium price given the technological advantages it offers. Even though the technology is still developing, consumers pay on the higher side to avail of these services. Manufacturing costs are also quite high at present due to the integration of innovative technologies in upcoming products, which render obsolete even top-range products within a short span of time.
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Airborne Light Detection And Ranging (LiDAR) System Market: Segmentation Analysis
This market research report segments the airborne light detection and ranging (LiDAR) system market by Type (UAV mounted LiDAR and fixed and rotor-wing mounted LiDAR) and Geography (North America, Europe, APAC, MEA, and