Market Trends of Drone Sensor Industry
Data Acquisition is Expected to Grow at Highest CAGR during the Forecasted Period
The data acquisition segment is expected to grow at the highest CAGR during the forecasted period. The evolving need for drones in various fields demands drone manufacturers equip the drones with new technologies that help them adapt to the changes. Lately, LiDAR has become a high-resolution and more accurate option for 3D mapping and geospatial data collection. As LiDAR uses ultraviolet and near-infrared light, effective mapping can be done, helping the growth of its preference. In addition, infrared thermal sensors capture cloud points used in information-based modeling by engineers and architects.
Millions of miles of underground natural gas pipelines across many countries present growth opportunities for the market, as drones equipped with thermal imaging sensors for pipeline leak detection are gaining popularity. Similarly, for solar farm inspection, companies employ drones with various sensors to create 3D visualizations and optimize the placement of photovoltaic panels to maximize efficiency. Thus, the demand for drone sensors is increasing, primarily due to the growth in the usage of drones in various industries.
North America is Expected to Dominate the Market During the Forecasted Period
The increasing adoption of drones for various applications, the presence of major OEMs, and increasing investments in research and development of following-generation drone technologies are some of the primary market drivers for drone sensors in North America.
For instance, in February 2023, Teledyne FLIR Defense was awarded a USD 13 million contract with the US Department of Defense to enhance its 80D SkyRaider unmanned aerial system. As per the contract terms, Teledyne FLIR will design and build prototype chemical and radiological sensor payloads for the R80D Skyraider and integrate existing detectors in the US Army’s inventory as a part of the contract.
Also, in June 2023, RTX Corporation secured a USD 118 million contract from the US Army to update the standard sensor payload for MQ-1C Gray Eagle unmanned aircraft systems. Such developments are expected to enhance drone usage and the market prospects for drone sensors during the forecast period.
