LiDAR Sensor Market - Forecasts from 2024 to 2029

The LiDAR Sensor market is anticipated to grow at a compound annual growth rate (CAGR) of 15.80% over the forecast period to reach US$7.635 billion by 2029, increasing from estimated value of US$3.667 billion in 2024.
There has been a noteworthy rise in the scale and degree of designing and civil construction ventures to oblige the growing population on the global scale, especially in developing nations. Each perspective of construction, extending from surveying and mapping to carrying out venture achievability studies, requires an expanding level of technological help. LiDAR innovations have developed as a profitable device, offering exact and point-by-point studies of tremendous regions. Besides, engineers depend on global positioning system (GPS)-aided laser scanners and profoundly delicate cameras to create designs that meet extended prerequisites and encourage precise possibility assessments. As a result of this drift, various LiDAR benefit providers have extended their operations.

India is aiming to boost its foundation to attain its financial development target of coming to US$5 trillion by 2025. As part of the National Infrastructure Pipeline (NIP), there are various large-scale projects right now in different stages of execution. The NIP designates a significant venture budget of $1.4 trillion towards foundation advancement, from 2020 to 2025, with a noteworthy portion designated to different segments. This incorporates 24% towards renewable energy ventures, 18% towards roads and highways, 17% towards urban development, and 12% towards railways development.

Further, LiDAR technology is utilized by scientists and mapping experts to analyze both artificial and natural landscapes with increased accuracy, precision, and versatility compared to previous methods in industries like oil and gas as well as in mining procedures. In India, the Ministry of Transportation has made it compulsory to utilize LiDAR systems for surveying areas prior to the construction of new highways.

The NRSC (National Remote Sensing Centre) utilizes two airborne digital cameras, namely the ULTRACAM-D and ULTRACAM Eagle manufactured by Vexcel, which are capable of capturing and delivering Large Format Digital Camera images (PAN, RGB, NIR) with spatial resolutions of up to 5 cm. Moreover, NRSC employed two LiDAR systems, namely the ALS50-II and ALS70-HP airborne laser scanners manufactured by Leica. These systems are equipped with integrated digital cameras to facilitate optical imaging alongside laser ranging. The operating wavelength for both instruments is 1064nm. These surveys conducted by NRSC serve various purposes, such as generating high-precision Digital Surface Models (DSM) and Digital Terrain Models (DTM) for urban, forestry, and hydrological applications, conducting accurate volumetric analysis for mining operations and corridor planning, generating 2D/3D Geodatabases for eGovernance, and providing 3D visualization for planning purposes.

Rising government investment in defense capabilities will bolster the market expansion

LiDAR sensors play a pivotal part within the defense industry by giving progressed capabilities for situational awareness, surveillance, and target procurement. These sensors utilize laser pulses to precisely identify, track, and recognize objects in different environmental conditions, including low-light and adverse climate scenarios. In defense applications, LiDAR sensors are coordinated into unmanned aerial vehicles (UAVs), ground vehicles, and surveillance frameworks to assemble real-time information on territory mapping, enemy positions, and potential dangers. This technology enables military faculty to make informed choices quickly, improve operational adequacy, and progress overall mission victory rates in combat circumstances.

The proposed budget for the Department of Defence (DoD) for FY 2023 is $773 billion, reflecting a $30.7 billion or 4.1 percent rise from the sanctioned base level of $742.3 billion in the FY 2022 and an 8.1 percent increment from the asked level in FY 2022. In comparison to the FY 2021 level, the FY2023 demand demonstrates an expansion of about $70 billion (9.8 percent) over a two-year span.

The pulse-based/linear-mode framework is anticipated to hold a substantial market share within the anticipated period.

A linear-mode or pulse-based LIDAR (light detection and ranging) system measures an object's distance from its surroundings by using brief laser pulses. Real-time obstacle identification and safe navigation are made possible by these systems which include diverse utilization such as driverless vehicles.

Pulse-based LIDAR is fundamental for autonomous vehicles (AVs) to see their environment and detect deterrents, pedestrians, and other vehicles in real-time. The expanding progression of self-driving innovation depends on this capacity, which ensures a secure route and productive collision avoidance procedures. For instance, in October 2023, the UK government guaranteed to supply an extra £100 million to back the progressing improvement of autonomous vehicles (AVs). The objective of its current security aim is for self-driving cars to be just as secure as a skilled human driver.

Besides, as per the estimates given by the Bureau of Transportation Insights, motor vehicle production expanded from 8.81 million in 2020 to 9.15 million in 2021. Moreover, domestic sales accounted increase from 11.57 million in 2020 to 11.83 million in 2021. This rise significantly impacts the overall market expansion.

Pulse-based LIDAR also helps with environmental monitoring, civil engineering projects, archaeological surveys, and precision farming and crop monitoring in agriculture. Pulse-based LIDAR's accuracy and adaptability make it a vital tool for a variety of sectors, s, improving quick decision making as well as advancing technology.

According to MGI (2011), cities are predicted to produce 70% of India's GDP by 2030.
India's construction market is divided into 250 subsectors and has connections between them. To usher in a new age in the Indian building technology industry, a sub-mission of PMAY-U has selected 54 globally innovative construction technologies. Under SBM-U, 1,191 localities have received ODF++ certification and over 3,500 cities have received ODF+ certification. 35 Multimodal Logistics Parks (MMLPs), which will be built at a total capital expenditure of $6.1 billion, will handle 50% of freight traffic.

Besides that, in the military, pulse-based or linear-mode LIDAR devices provide accurate 3D spatial data, enabling sophisticated target identification and reconnaissance capabilities. These devices improve situational awareness and mission planning by helping to accurately identify and track items of interest. Besides, pulse-based LIDAR bolsters the mapping of geographical highlights, which improves military operations' operational viability and vital decision-making.

Further, as per the Central Intelligence Agency report, Argentina's Military Spending was 0.8% of GDP in the year 2021 which was about 0.7% of GDP in 2019. The spending is majorly focused on the sensors being used in the equipment.

Overall, the pulse-based or linear-mode LIDAR systems market is expanding rapidly due to rising demand from a variety of industries, including the defense, agricultural, and automotive sectors. Furthermore, technological developments are increasing efficiency and lowering prices, giving businesses great chances to innovate and broaden their product offers.

Key Market Development:

• In January 2022, the United States Patent and Trademark Office awarded Woolpert a patent for his "Airborne Topo-Bathy Lidar System and Methods Thereof." An intriguing research and development group utilized these innovations to make a lidar sensor framework that can assemble high-resolution topographic and bathymetric information at a more prominent elevation, covering a more extensive range than lidar systems that have been built sometime recently.

Market Segmentation:

The Lidar Sensor Market is segmented and analyzed as below:

By Sensor Type

• Airborne
• Topographic
• Bathymetric
• Terrestrial
• Mobile
• Static

By System Type

• Pulse-based/Linear-mode System
• Phase-based System
• Geiger-mode/Photon-counting System

By Industry

• Agriculture
• Infrastructure and Construction
• Military and Defence
• Environment
• Mining
• Transport
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• Australia
• Others