Global demand for aerial imaging is expected to rise at a yearly growth rate of 13.3% Y-o-Y to USD 4.96 Billion in 2026. From 2022 to 2032, a CAGR of 13.3% is expected, reaching USD 10.5 Billion by 2032.
During the period ranging from 2020 to 2022 aerial imaging demand prospects escalated at a stellar rate, attributed to the rapid advancements in drone technology and its extensive use in several end industries. While the wheels of the global economy stopped, the application of drones in the delivery of medicines to the needy opened a door to future growth prospects.
Recently, Amazon Prime Air, a drone delivery system was in talks for a future of package deliveries in 30 minutes or less. Though, many consumers, states, and regulators believe that sanctioned UAVs (Unmanned Aerial Vehicles) can be potentially detrimental. This is expected to hamper the growth of the aerial imaging market.
| Data Points | Key Statistics |
|---|---|
| Estimated Value of Global Aerial Imaging Market by 2026 | USD 4.96 Billion |
| Documented Market Value of the Aerial Imaging Market in 2022 | USD 3 Billion |
| Expected Market Value in 2032 | USD 10.5 Billion |
| Estimated CAGR from 2016 to 2026 | 13.3% |
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In terms of growth, Asia Pacific is anticipated to exhibit the fastest growth during the forecast period. On account of the implementation of innovative platforms such as drones and UAVs for gathering the required data from a high-resolution aerial image captured. Within the Asia Pacific, countries like China, Japan, and India capture a majority share in revenue generation. By 2026, a valuation of USD 328.4 Million has been projected for China, with an expected CAGR of 13%.
The rising awareness regarding the advantages of utilizing aerial imaging for urban planning, surveillance and monitoring, and disaster management, backed up by the increasing affordability of capturing aerial images are some factors that are expected to augment the market growth in the region.
In September 2022, China unveiled its next-generation, solar-powered large unmanned aerial vehicle (UAV) with very long endurance soon, which will have a larger wingspan than its predecessors that allows it to carry larger payloads for missions including reconnaissance, monitoring and communications relay in near-space.
The extensive application of drones in defense industries has created tremendous growth prospects. The demand for Aerial Imaging will soar across the defense & intelligence industry, expected to register a CAGR of 13.1% by 2032.
Given the frequent need for surveillance to prevent terrorist activities and border infringements, aerial imaging service providers are looking for solutions to provide quick and detailed information about an area.
Aerial and space images contain a detailed record of features on the ground. An image interpreter systematically examines the images and, frequently, other supporting materials such as maps and reports of filed observations.
An extensive range of applications in the photogrammetric survey and for defense purposes augment the demand for aerial imaging in modern times. Developments of drones have facilitated clear imaging, supported by rising investments by the key players in the aerospace and defense industry.
Principal Consultant
Major factors expected to accelerate the growth of the aerial imaging market during the forecast period include a rise in demand for aerial imaging in disaster risk reduction and prevention, the surge in demand for varied commercial applications, and the use of aerial imaging technology in setting up 5G infrastructure.
The adoption of aerial imagery services has increased owing to their various applications such as photogrammetric surveys, the development of topographic maps, environmental studies, surveillance, and others. Increased application areas among various verticals, such as agriculture, forestry, energy & resource, and civil engineering. These are some other factors that will propel the market growth over the analysis period.
Increasing technological advancements and modernization in the cameras, rising research & development activities, and rising demand from emerging economies are expected to favor the growth of the global Aerial Imaging Market during the forecast period.
Stringent government regulations regarding national security are one of the major factors that are expected to hamper the growth of the global Aerial Imaging Market during the forecast period.
Adverse weather conditions as well as related environmental factors may prevent accurate imaging data collection, which is expected to impede market growth.
Inaccuracy in image data collection, privacy concerns among users, and concerns over cyber-security data security regarding drones are expected to hinder the growth of the Aerial Imaging Market over the analysis period.
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Aerial imaging helps in the mitigation of the destructive effects of natural catastrophes and other related risks. Aerial images captured by different kinds of aircraft can help in the analysis of hazards and the planning and implementation of quick modifications that could prevent a disaster and save lives. This involves preventing landslides, detecting flames during heat waves, and monitoring overflowing rivers during heavy rainfall.
Aerial imagery combined with Geographic Information System (GIS) maps provides a plethora of information to disaster and emergency response managers for situation assessment, analysis, and speedy response.
Significant growth in the construction and tourism industries is one of the key factors creating a positive outlook for the market. In addition, increasing growth in the popularity of UAVs for aerial imaging, rising usage of aerial imaging in defense applications, increasing consistency in the advancements in aerial camera systems, and rising venture capital investment in drone technology are some key trends that are influencing the market growth.
The aerial imaging market can be segmented on the basis of Application, End-Use Industry, and region.
On the basis of the Application, the market can be segmented into the following: Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research, and Media & Entertainment.
According to the FMI, geospatial technology application is expected to grow at a CAGR of 14.2% during the forecast period. With the help of Geospatial Imagery, aerial photographs can be taken either vertically, which is preferred if the photographs are to be used to prepare maps of an area, or obliquely.
On the Basis of End-Use Industry, the market can be segmented into the following: Government, Commercial Enterprises, Civil Engineering Industry, Military, Forestry & Agriculture, Energy Sectors, and Insurance.
The Government sector is projected to be among the leading end-use industry segments during the forecast period. The growing need for energy and resource management as well as an increase in construction and development activities are expected to favor the growth of the Aerial Imaging Market during the forecast period.
The global Aerial Imaging Market is divided into North America, South America, Europe, Asia Pacific, the Middle East, and Africa based on geography.
The North American region dominates the global Aerial Imaging Market, attributed to the rising implementation of aerial imaging in the agriculture and forestry industry for improved decision-making. The Aerial Imaging Market in the USA is likely to reach a valuation of USD 3.9 Billion by 2032 with a CAGR of 13.8%.
The Europe aerial imaging market is estimated to attain a significant share owing to the presence of matured regulatory framework as well as increased transparency in financial reporting in the region. United Kingdom is expected to reach a market size of USD 1.3 Billion in 2032, representing a CAGR of 13.0%, over the forecast period.
In terms of growth rate, the global market in Asia Pacific is predicted to exhibit the fastest growth rate during 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 by the increasing affordability of capturing aerial images are some factors that are expected to augment the market growth in the region.
China and Japan are expected to reach the same market size of USD 328.4 Million and USD 253.2 Million in 2032, representing growth forecasts of 9.2% and 8.7% respectively, throughout the forecast period. India, on the other hand, is expected to reach a market size of USD 194 Million in 2032, representing a CAGR of 13.0%, during the forecast period.
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., among others, are the top companies in the global aerial imaging market.
With a sizable aerial imaging market share, these main firms are concentrating on growing their consumer base in new countries. These businesses are making use of strategic collaboration initiatives to grow their market share and profits.
Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, thanks to technical developments and product innovations.
Recent Developments:
As of 2021, the market for Aerial Imaging was valued at USD 2.6 Billion, as per FMI
By 2022-end, sales of Aerial Imaging closed at a value of USD 3.0 Billion
From 2015 to 2021, Aerial Imaging demand expanded at a CAGR of 13.9%
From 2022 to 2032, Aerial Imaging sales are expected to flourish at a CAGR of 13.3%
By 2032, the market value of Aerial Imaging is expected to reach USD 10.5 Billion
From 2022 to 2032, Aerial Imaging demand in the USA is expected to surge at a CAGR of 13.8%
By End-Use Industry, Government constitutes the bulk of market share with a CAGR of 13.7%.
By Application, the Geospatial Technology category of Aerial Imaging is expected to dominate the market with a CAGR of 14.2%.
1. Preface 2. Assumptions and Research Methodology 3. Executive Summary: Global Market 4. Market Overview 5. Global Market Analysis and Forecasts, By End-use Industry 5.1. Government 5.2. Commercial Enterprises 5.3. Civil Engineering Industry 5.4. Military 5.5. Forestry and Agriculture 5.6. Energy Sector 5.7. Insurance 6. Global Market Analysis and Forecasts, By Application 6.1. Energy 6.2. Geospatial Technology 6.3. Natural Resources Management 6.4. Construction & Development 6.5. Disaster Response Management 6.6. Defense & Intelligence 6.7. Conservation & Research 6.8. Media & Entertainment 7. Global Market Analysis and Forecasts, By Region 7.1. North America 7.2. Europe 7.3. Asia Pacific 7.4. Middle East and Africa 7.5. South America 8. North America Market Analysis and Forecast 9. Europe Market Analysis and Forecast 10. Asia Pacific Market Analysis and Forecast 11. Middle East and Africa Market Analysis and Forecast 12. South America Market Analysis and Forecast 13. Competition Landscape 13.1. NRC Group ASA 13.2. Fugro N.V. 13.3. Digital Aerial Solutions, LLC 13.4. Nearmap Ltd. 13.5. Google, Inc. 13.6. EagleView Technologies, Inc. 13.7. Cooper Aerial Surveys Co. 13.8. Landiscor Real Estate Mapping 13.9. GeoVantage, Inc. 13.10. Kucera International, Inc. 14. Key TakeAway
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Aerial Imaging Market
