The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
Airborne LiDAR Market Revenue Growth, Top Companies, Size, Share, Trends & Future Growth Opportunities Till 2023
The growth of the airborne LiDAR market is driven by the increasing use of unmanned aerial vehicles in various applications and increasing adoption of LiDAR in engineering and construction applications.Major strategies adopted by the players include contracts & agreements, new product developments, expansions, and mergers & acquisitions, among others. Contracts & agreements was the most commonly adopted strategy from 2014 to 2017. Industry players also adopted new product developments and business expansions to grow and sustain in the airborne LiDAR market.
The global airborne LiDAR market size is projected to grow from an estimated USD 1,140.1 Million in 2017 to USD 2,533.7 Million by 2022, at a CAGR of 17.32% during the forecast period. North America was the largest market, followed by Europe in 2016. This trend is expected to continue till 2022. The growth of the airborne LiDAR market is driven by the increasing use of unmanned aerial vehicles in various applications and increasing adoption of LiDAR in engineering and construction applications.
On the basis of platform, the airborne LiDAR market has been segmented into fixed wing, rotary wing, and Unmanned Aerial Vehicles (UAVs). The fixed wing segment includes fixed wing general aviation aircraft. In the general aviation industry, many light aircraft are designed and built by amateur hobbyists and enthusiasts. The ones manufactured by OEMs are mostly used commercially to survey, photograph, film, and for freight transport, passengers, and sightseeing, as well as personal use. The significant growth in general aviation worldwide and increasing preference for cost-effective air travel for surveys and recreational activities are the primary factors expected to support the growth of the light aircraft market during the forecast period.
Topographic LiDAR is expected to be the largest segment for the airborne laser scanning market, by type
The airborne LiDAR market has been segmented on the basis of type into topographic LiDAR and bathymetric LiDAR. The most common form of airborne laser scanning system is the topographic airborne LiDAR, which operates on the time of flight principle by sending a high intensity laser pulse in a narrow beam towards the object, and measuring the time taken by the pulse to be reflected off the target and returned to the sender. The growth of the topographic LiDAR segment can be attributed to the rise in demand for enhanced situational awareness, and survey activities such as seismology, cartography, and meteorology, among others.
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Some of the key players in the airborne LiDAR market are Saab (Sweden), Teledyne Technologies (US), Leica Geosystems (Switzerland), and FLIR Systems (US), among others.
Major strategies adopted by the players include contracts & agreements, new product developments, expansions, and mergers & acquisitions, among others. Contracts & agreements was the most commonly adopted strategy from 2014 to 2017. Industry players also adopted new product developments and business expansions to grow and sustain in the airborne LiDAR market.
Saab (Sweden) is one of the largest players in offering products, services, and solutions related to surveillance, aeronautics, among others, for both, military and civil applications. It has a diversified product portfolio for different types of platforms. The company offers airborne LiDAR through its surveillance segment and offers various 3D data imagery systems that support real-time data exchange with VriconLiDAR. As a part of its key strategy for organic growth, the company is focused on various R&D activities, acquiring contracts, and establishing joint ventures to enhance its presence in the airborne LiDAR market. For instance, it recently signed a contract worth approximately USD 1.27 billion with the UAE Air Force to expand and enhance its airborne surveillance capabilities.
Teledyne Technologies (US) is another prominent player in the airborne LiDAR market and is engaged in developing technologically-advanced products for use across various end-use industries. The company provides airborne LiDAR equipment through its digital imaging segment. Teledyne Optech Inc. is the subsidiary that deals with the research and design on airborne survey products. It offers around six distinct types of airborne LiDAR systems under its airborne LiDAR product portfolio. Teledyne mainly focuses on organic growth strategies such as partnerships, new product launches, among others. For instance, at the GEOINT (GEOspatialINTelligence Symposium) 2016, it introduced a new low-cost, automated airborne surveying system which includes a LiDAR.
Saab (Sweden) is one of the largest players in offering products, services, and solutions related to surveillance, aeronautics, among others, for both, military and civil applications. It has a diversified product portfolio for different types of platforms. The company offers airborne LiDAR through its surveillance segment and offers various 3D data imagery systems that support real-time data exchange with VriconLiDAR. As a part of its key strategy for organic growth, the company is focused on various R&D activities, acquiring contracts, and establishing joint ventures to enhance its presence in the airborne LiDAR market. For instance, it recently signed a contract worth approximately USD 1.27 billion with the UAE Air Force to expand and enhance its airborne surveillance capabilities.
Teledyne Technologies (US) is another prominent player in the airborne LiDAR market and is engaged in developing technologically-advanced products for use across various end-use industries. The company provides airborne LiDAR equipment through its digital imaging segment. Teledyne Optech Inc. is the subsidiary that deals with the research and design on airborne survey products. It offers around six distinct types of airborne LiDAR systems under its airborne LiDAR product portfolio. Teledyne mainly focuses on organic growth strategies such as partnerships, new product launches, among others. For instance, at the GEOINT (GEOspatialINTelligence Symposium) 2016, it introduced a new low-cost, automated airborne surveying system which includes a LiDAR.
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