New York, United States, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Aerial imaging gathers photos of the ground by using cameras mounted on many vehicles, including airships, helicopters, parachutes, kites, balloons, and vehicles with poles attached. Risk management, resource management, mapping, research and excavation, security and surveillance, urban planning, engineering, farming management, tourism, and other fields benefit from aerial imaging. Fixed-wing aircraft, multi-rotor unmanned aircraft systems (UAS), helicopters, balloons, parachutes, blimps and dirigibles, rockets, kites, vehicle-mounted poles, and standalone telescoping are just a few examples of the various tools or gadgets used for aerial photography.
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Growing Adoption by Various Governments and Agencies Drives the Global Market
According to Straits Research, “The global aerial imaging market size was valued at USD 2.20 billion in 2022. It is expected to reach USD 8.12 billion by 2031, growing at a CAGR of 15.57% during the forecast period (2023–2031).” Aerial imaging has become crucial for gathering accurate surveying data and building modular hospitals for the victims. The surveying process is quick, efficient, and secure, making it the pandemic's preferred technology. Land administration uses aerial imaging technology to survey and map projects and plans. For instance, on April 24, 2020, the Government of India (GoI) unveiled the Svamitva Scheme. The program aims to deliver a comprehensive property validation solution to rural India. Survey of India has served as the scheme's technology implementation partner. The strategy helps various government departments and agencies create survey infrastructure and geographic information system (GIS) maps for use as needed.
Growth of Location-Based Services Creates Tremendous Opportunities
Aerial photography uses GPS to improve location accuracy. For instance, farmers can use GPS targeting to monitor the condition of their crops, identify problem areas, and apply fertilizer. The accuracy of aerial imagery assists in managing energy and power site operations because it allows for more precise targeting and weather damage restoration. High-resolution aerial photography is now widely recognized as an affordable solution to problems with sales, service, and marketing. For accurate and effective claims management, insurance companies must be able to verify claims information quickly and efficiently alongside property features. Location-based aerial imaging services make this possible.
Aerial imagery is now increasingly used to give precise position data for various reasons because of geospatial technology. Using geospatial information and aerial photography is becoming increasingly important in the defense and security industry. Location-based services are becoming increasingly popular among regular people for information and entertainment, which will likely open up new growth opportunities for the market during the forecast period.
Regional Analysis
North America Aerial Imaging Market Share is expected to grow at a CAGR of 14.77% during the forecast period. North America is one of the major investors and adopters of the studied market because of the extensive research done by regional businesses and the growing adoption of the technologies among regional end-user industries. Aerial imaging extracts information on land cover maps, vegetation maps, soil maps, and geology maps using spatial data from orthographic images. Aerial imaging is also used in government-sponsored initiatives like disaster and emergency response management, environmental research, property information management, and archaeology. In addition, aerial imaging for land mapping and development is also gaining popularity among engineers, planners, and developers. The main reason aerial imaging platforms are used more frequently in forestry, military, disaster management, and urban planning applications is market expansion.
Europe is expected to grow at a CAGR of 15.62% during the forecast period. UAVs have transformed aerial photography and videography and are now used for various tasks, such as scientific research, stunt filming, security, and mapping. It is one of the critical industries used in many applications, including mapping, security, content creation, stable images, video, and others, with the help of platforms like drones, UAVs, and others. Since their introduction, UAVs have changed how still photos and videos are captured for many industries.
In addition, drone images are now a regular feature of sports broadcasting and movie production because they are undetectable and can get close to the action, enabling overhead shots or close-ups of the action without the need (or expense) of a helicopter. By 2025, 200,000 drones will be continuously flying over the continent, according to the European Aviation Safety Agency (EASA), which oversees aviation safety in the EU. To meet the demand for safe and effective drone traffic management throughout the entire interaction with general air traffic, a new Danish drone traffic control platform has also been implemented due to anticipated growth. Due to the proliferation of drone services and businesses, there is an increasing demand for drones in Europe.
Key Highlights
- Based on the platform type, the global aerial imaging market is bifurcated into fixed-wing aircraft, helicopters, and UAVs/drones. The UAV/drones segment is the highest contributor to the market and is expected to grow at a CAGR of 16.55% during the forecast period.
- Based on the application, the global aerial imaging market is bifurcated into geospatial mapping, infrastructure planning, asset inventory management, environmental monitoring, national and urban mapping, surveillance and monitoring, and disaster management. The geospatial mapping segment owns the highest market share and is expected to grow at a CAGR of 15.44% during the forecast period.
- Based on the end-user industry, the global aerial imaging market is bifurcated into construction, aerospace and defense, government, oil and gas, energy and power, and agriculture. The government segment is the highest contributor to the market and is expected to grow at a CAGR of 14.94% during the forecast period.
- North America is the most significant contributor to the global aerial imaging market and is expected to grow at a CAGR of 14.77% during the forecast period.
Competitive Players
The global aerial imaging market’s major key players are Terra Flight Aerial Imaging Inc., Fugro Ltd, Nearmap Ltd, Eagle View Technologies Inc., Digital Aerial Solutions Llc, Aerial Imaging Productions Llc, Cooper Aerial Surveys Co., Landiscor Real Estate Mapping, Kucera International Inc., Geovantage Inc. (Aeroptic Llc), Global Uav Technologies Ltd. (High Eye Aerial Imaging Inc.), Eagle Aerial Solutions, Aerobotics (Pty) Ltd, Airobotics Gmbh, and Skyimd Inc.
Market News
- In January 2023, Airbus plans to spin off Zephyr, its high-altitude drone program, to create a standalone telecom and earth observation business that will start commercial operations by the end of next year."
- In January 2023, EagleView TrueDesign, the best photovoltaic (PV) design solutions for pre- and post-sale, are available through the Enerflo Platform, a market-leading sales and install software platform for residential solar installers, EPCs, and sales dealers.
Global Aerial Imaging Market: Segmentation
By Platform Type
- Fixed-Wing Aircraft
- Helicopters
- UAVs/Drones
By Applications
- Geospatial Mapping
- Infrastructure Planning
- Asset Inventory Management
- Environmental Monitoring
- National and Urban Mapping
- Surveillance and Monitoring
- Disaster Management
By End-User Industry
- Construction
- Aerospace and Defense
- Government
- Oil and Gas
- Energy and Power
- Agriculture
By Regions
- North America
- Europe
- Asia-Pacific
- Rest of the World
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