Wind Lidar Market Opportunity, Applications and Gross Margin Forecast by 2022

The global wind LiDAR market is expected to witness significant growth over the forecast period owing to its rising applications from the end user industries such as civil engineering, defense, mining, robotics, and transportation. Furthermore, growing awareness among companies regarding wind LiDAR to be used for applications such as topographical survey, corridor mapping, and volumetric mapping is anticipated to drive the market growth over the next eight years. In addition, the growing adoption of wind LiDAR for accurately measuring the wind speeds coupled with rising 3D imaging technology application for estimating wind turbulence to increase energy output for wind farms is further projected to propel the sector demand over the forecast period. The market is projected to witness proliferated demand over the next eight years owing to increasing image resolution capabilities; rising improved automated processing ability in data processing and growing adoption of aerial systems for exploring & detecting historic details. However, growing stringent regulation imposed on manufacturers due to rising environmental concerns coupled with increasing fluctuation in the raw material prices coupled with rising initial setup technology cost has enabled the market to witness hindered growth over the next eight years.

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The market is segmented by component into GPS, navigation, data storage & management systems, and laser Scanners. The Airborne GPS segment accounted for a major market share in 2015 and it is expected to report similar trend over the forecast period owing to growing demand from wind and defense sector. The data storage & management systems segment is anticipated to witness the fastest growth over the next eight years owing to increasing demand from industries such as aerospace, transportation, and mining. The wind LiDAR market is highly competitive primarily to the presence of several domestic and international suppliers.

Though, the sector has the presence of various new players, who face difficulty in competing with other major companies in terms of functionalities, features, quality, and services. Over the forecast period, the growing new product development activities coupled with increasing adoption of new technologies for achieving operational efficiency has enabled the competition to become more aggressive. On a contrary, few major players through continuous R&D endeavors coupled with growing expertise knowledge in the industry have enabled them to witness competitive edge, thus propelling the overall growth of the sector over the next eight years.

North America and Europe are anticipated to witness major market share over the forecast period owing to the growing technological advancements and increasing adoption from defense sector for topographical mapping. Asia Pacific is anticipated to account for fastest growth over the forecast period primarily due to the growing adoptions of wind LiDAR from forestry, agricultural and transportation sectors. India, China, and Japan are anticipated to witness the highest share in the region majorly owing to the rising disposable income coupled with growing foreign investments. The Middle East & Africa is projected to see significant growth by 2020 mainly owing to increasing urbanization, industrialization, and globalization. The sector has huge potential in this region primarily owing to rising per capita income and foreign investments.

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Key players in the market include Airborne Hydrography AB, Aerometric, Faro Technology, Firmatek, and 3D Laser Mapping. Few other companies in the market include Avent Technology, Airborne Imaging Inc., Intermap Technologies Corp., Digital world Mapping, Optech Incorporated, Mosaic 3D, and Reign USA. The market is highly consolidated having more than 40% market share by top five companies. The major companies generally tend to collaborate with smaller companies to increase market share and thus gaining competitive advantage. The market players through continuous R&D endeavors focus on building a wide distribution network that supports the overall market to report significant growth over the forecast period. Companies through strategic expansions and mergers & acquisitions have been trying to cater large volume of customers with products that are cost-effective and high quality.