Aerial Imaging Market

Aerial Imaging Market Overview (2022 to 2032)

Global demand for aerial imaging is expected to rise at a yearly growth rate of 13.3% Y-o-Y to US$ 4.96 Billion in 2026. From 2022 to 2032, a CAGR of 13.3% is expected, reaching US$ 10.5 Billion by 2032.

• Extensive application in agriculture, forestry, and civil engineering to act as prominent growth drivers
• Rising demand in disaster management and installation of 5G services have amplified the use of aerial imaging at the global level
• Stringent government regulations regarding security concerns, inaccuracy in image data collection, and rising cyber security concerns regarding drones hamper the market growth
• Technological developments like advanced motion & temperature sensors in cameras, 3D mapping software, and unmanned aerial vehicles create robust growth prospects

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.

Application of Geospatial Technology to Spur Demand for Aerial Imaging in the Asia Pacific

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 US$ 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.

Opportunities abound in the Defense & Intelligence Sector

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.

Sudip Saha

Principal Consultant

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Which Factors are impacting the Aerial Imaging Market Growth?

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.

What Factors Impede the Aerial Imaging Market Growth?

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.

What are the Key Trends in Aerial Imaging Market?

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.

How is the Aerial Imaging Market Segmented?

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.

Which Region is Performing Better in the Aerial Imaging Market?

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 US$ 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 US$ 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 US$ 328.4 Million and US$ 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 US$ 194 Million in 2032, representing a CAGR of 13.0%, during the forecast period.

Who are the Key Competitors in the Aerial Imaging Market?

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

• In January 2022, Iris Automation, Doosan Mobility Innovation (DMI), and Drone America agreed to use Doosan's hydrogen fuel cell technology to explore the feasibility and opportunities for long-range autonomous unmanned aerial vehicles (UAV).
• In December 2021, the USA Navy and Boeing initiated the testing phase of the MQ-25 T1 test asset, an unmanned aerial refueler. The first test successfully ensured the possible future integration of unmanned vehicles for refueling purposes in military operations.
• In July 2021, senseFly, a leading provider of fixed-wing mapping drones announced the launch of eBee TAC, an advanced fixed-wing Unmanned Aircraft System (UAS) designed for covert tactical mapping operations in security defense and governmental sectors. The eBee TAC provides active field personnel access to reliable and accurate location data and maps, offering field intelligence and situational awareness required to act with confidence and precision across rapidly-changing environments.
• In March 2021, Nearmap announced that it is building upon its USA post-catastrophe (post-cat) aerial imagery program to provide property and casualty insurance carriers with high-resolution aerial captures following catastrophic events within days of capture. Combined with accelerated delivery times from Nearmap, the imagery's frequency, immediacy, and consistent quality provide a clear view of property damage, even in complex instances that require careful inspection. It allows insurers to determine the extent of damage and decide how to allocate loss adjusters to impacted properties.

By Key Players

• 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
• SkyIMD, Inc.

Key Segments Covered in the Aerial Imaging Market Study

By Application:

• Energy Extraction
• Geospatial Technology
• Natural Resources Management
• Construction & Development
• Disaster Response Management
• Defense & Intelligence
• Conservation & Research
• Media & Entertainment

By End Use Industry:

• Government
• Commercial Enterprises
• Civil Engineering Industry
• Military
• Forestry & Agriculture
• Energy Sectors
• Insurance

By Region:

• North America
• South America
• Europe
• Asia Pacific
• Middle East & Africa