The Global "Aerial Imaging Market" is expected to grow at a CAGR of 4% during the forecasting period (2022-2029).
This is mainly due to the rising popularity of location-based services and increasing application areas of aerial imagery.
Aerial Imaging is a kind of photographs, mostly used for cartography, geospatial, movie production, environmental studies, power line inspection and other area. Aerial Imaging/Photography is taking photographs from a flying object or an aircraft. The platforms for aerial imaging include helicopter, UAV/Drones, balloons, blimps, rocket, kites, parachutes, airship or any flying aircraft.
The report covers all the major trends and drivers playing a vital role in the growth of the global Aerial Imaging market. The global Aerial Imaging market has been segmented based on region, platform, and application.
The global Aerial Imaging market growth is primarily driven by increasing adoption of aerial imagery in multiple application areas, such as surveillance and monitoring, geospatial, energy and resource management, conservation and research, exhibition and live entertainment, disaster management, construction and development, and among others. In addition, development of electronic media, technological advancements in wireless applications, smart phone adoption, and Internet of Things (IoT) applications result in number of companies to offer location-based services. Companies utilizing location based services such as e-commerce websites, online food chains, social networks and others would contribute in the growth of aerial imaging market in the coming years.
For instance, EagleView is a technology provider of aerial imagery, data analytics and geographic information system solutions. EagleView’s imagery solutions provide contractors on-the-go access with the EagleView App.
By Type, the global aerial imaging market is segmented into Fixed-Wing Aircraft, Helicopter, UAV/Drones, and others. In 2018, Fixed-Wing Aircraft and UAV/Drones segments together accounted for more than 70% market share. However, UAV/Drones segment is expected to witness higher CAGR over the forecasted period. UAV/Drones offer new opportunities to monitor remote areas, and their form factors and cost enables a higher frequency of data collection compared to aerial survey. Based on maps derived from aerial photographs of rough terrains and harsh climatic regions, several important decisions are regularly made by organizations. In such regions, only UAVs can capture aerial images.
By End-user industry, the global Aerial Imaging market is segmented into Government, Forestry and Agriculture, Food and beverages, Energy and Utilities, Military and Defense, and Others. In 2018, Government segment accounted for the majority share in the market. However, forestry and agriculture segment is expected to grow faster due to the developments in technology for precision agriculture practices through mapping of various factors such as crop & soil health, quality, and moisture content.
In addition, military & defense segment also expected to gain significant market share during the forecast period. This is mainly due to rising military and defense expenditure globally. For instance, According to the Stockholm International Peace Research Institute (SIPRI), total world military expenditure rose to $1,822 billion in 2018, representing an increase of 2.6 per cent from 2017. The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60% of global military spending. Therefore, increase in the use of aerial photography for military and defense such as simulation & planning of different mission strategies and air defense mapping & planning, will further fuel growth in the global aerial imaging market.
By geography, the global Aerial Imaging Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America dominated the global aerial imaging market. Growing military and defense expenditure; emerging applications, such as augmented and virtual reality and IoT; and need of new technologies and innovations will further drive the market during the forecast period. In addition, rising implementation of aerial imaging in agriculture and forestry industry for improved decision making will also play a major role in the growth of the North America Aerial Imaging Market.
However, APAC is anticipated to exhibit the highest CAGR over the forecast period. This is due to the implementation of innovative platforms such as drones and UAVs for gathering the required data from a high-resolution aerial image captured. Further, the rising awareness regarding the advantages of utilizing aerial imaging for urban planning, surveillance and monitoring, and disaster management, backed up with the increasing affordability of capturing aerial images is predicted to promote growth.
Global Aerial Imaging Market is fragmented with the presence of global and regional players in the market. The market players in the Aerial Imaging market are focusing on expanding through strategic interventions, such as acquisitions, collaborations, expansion and launching advanced products in the Aerial Imaging market.
Some major players in the market are Airobotics, NRC Group ASA, DroneDeploy, Fugro N.V., 3D Robotics, Digital Aerial Solutions LLC, EagleView Technologies, Inc., Nearmap Ltd., Cooper Aerial Surveys Co., GeoVantage Inc., Landiscor Real Estate Mapping, Kucera International Inc., and among others.
In 2018, EagleView completes $90M acquisition of Australian aerial imagery firm Spookfish.
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