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DUBLIN–(BUSINESS WIRE)–Oct 12, 2020–
The “Drone Sensor Market – Growth, Trends and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The Drone Sensor Market is projected to grow with a CAGR of more than 15% during the forecast period.
The growing applications of drones for various commercial purposes, like remote sensing; photo and videography; oil, gas, and mineral exploration; disaster relief, recreational uses, and other purposes are driving the growth of the drone sensor market.
Companies Mentioned
- Bosch Sensortec
- TE Connectivity
- TDK Invensense
- Trimble Inc.
- Flir Systems
- Velodyne LiDAR
- Sony Semiconductor Solutions Group
- Sparton Corporation
- KVH Industries, Inc.
- LORD Sensing Systems (Parker Hannifin Corp.)
Key Market Trends
The Increasing Demand of Drones in Various End-use Industries is Driving the Growth of the Market
The evolving need for drones in various fields is demanding drone manufacturers to equip the drones with new technologies that help them adapt to the changes. Off late, LiDAR is becoming a high resolution and more accurate option for 3D mapping and geospatial data collection. As LiDAR uses ultraviolet, near-infrared light, effective mapping can be done, which is helping the growth in its preference. For instance, in February 2020, Bluesky International has won a contract from the Welsh government, to conduct an aerial survey of Wales. Natural Resources Wales and Bluesky will capture the data with the help of LiDAR of more than 20,000 sq km of Wales rural and urban landscape.
In addition, infrared thermal sensors capture cloud points that are used in information-based modeling by engineers and architects. The presence of millions of miles of underground natural gas pipelines across many countries is presenting growth opportunities for the market, as drones equipped with thermal imaging sensors for pipeline leak detection are gaining popularity. Similarly, for solar farms inspection, companies employ drones with various sensors to create 3D visualizations, optimize the placement of photovoltaic panels for maximizing the efficiency. Thus, the demand for drone sensors is increasing, primarily due to the growth in the usage of drones in various industries.
Asia-Pacific is Projected to Exhibit the Highest Growth Rate in the Market:
In terms of geography, Asia-Pacific is projected to grow with the highest CAGR during the forecast period. The recent changes in drone regulations in several countries across the region are expected to support the growth of the market. China became the global hub for drone manufacturing in the past six years. About 70% of the global civilian drone market is supported by China, which had about 1,200 drone manufacturers at the beginning of 2019 (up from 130 manufacturers in 2013). Moreover, Japan’s drone sensor market is expected to witness rapid growth, in terms of technology and procurement. The Japanese government recently implemented new regulations for drone manufacturers and users, which may support the Japanese drones and drone sensors markets in the future.
The government took initiatives to improve the country’s commercial drone industry and reach its goal of enabling drone delivery in Tokyo by 2020. The government announced its plans to establish a streamlined registry system by 2022, in order to offer more opportunities for drones. Similarly, the South Korean government has announced that it will invest over USD 1 billion in the drone industry over the next five years. The funds will be spent on research and development of drone technology by 2022. Such developments are expected to enhance drone usage and subsequently enhance the market prospects for drone sensors during the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Inertial Sensor
5.1.2 Image Sensor
5.1.3 Speed, Distance, and Position Sensor
5.1.4 Other Types
5.2 Application
5.2.1 Navigation
5.2.2 Data Acquisition
5.2.3 Collision Detection
5.2.4 Air Pressure Measurement
5.2.5 Other Applications
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bosch Sensortec
6.2.2 TE Connectivity
6.2.3 TDK Invensense
6.2.4 Trimble Inc.
6.2.5 Flir Systems
6.2.6 Velodyne LiDAR
6.2.7 Sony Semiconductor Solutions Group
6.2.8 Sparton Corporation
6.2.9 KVH Industries, Inc.
6.2.10 LORD Sensing Systems (Parker Hannifin Corp.)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6q2vht
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SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 10/12/2020 07:19 AM/DISC: 10/12/2020 07:19 AM
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Copyright Business Wire 2020.
