Aerial Imaging Market worth over $4bn by 2024
Published Date: June 1, 2018 Authors: Ankita Bhutani, Preeti Wadhwani
Aerial Imaging Market size is set to exceed USD 4 billion by 2024, according to a new research report by Global Market Insights, Inc.
The aerial imaging market growth is attributed to rising adoption of drones for aerial photography applications. There has been an exponential increase in the use of UAVs for aerial photography applications over the past decade due to key cost-benefits that they offer over traditional imaging platforms such as helicopter and fixed-wing aircraft-mounted camera platforms.
Drones offer excellent maneuverability in congested urban areas where large aircraft cannot venture for capturing aerial images. This capability of drones is majorly leveraged by the real-estate sector for capturing aerial photographs of construction projects in urban areas.
The UAV/drone platform in the aerial imaging market is anticipated to witness high growth till 2024 due to its rapidly growing adoption of the platform for aerial imaging in a diverse set of sectors including government, construction, oil & gas, military & defense, and agriculture.
UAVs prove to be a cost-effective alternative to helicopters and fixed-wing aircraft for aerial imaging, which enables their adoption for small-scale and low-budget imaging applications. There has been a significant decline in the usage of traditional aerial photography platforms, such as parachutes, balloons, kites, and vehicle-mounted poles, due to advent of drone technology that serves as a reliable alternative for capturing aerial images in varying climatic conditions.
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The vertical imaging segment holds majority revenue share of the aerial imaging market on account of major utility of the imaging practice in geospatial mapping applications. As vertical aerial images provide useful data for preparing precise digital models of terrains, they are widely used for mapping functions by government institutions.
The urban planning segment is predicted to register over 17% gains through 2024 driven by increasing adoption of aerial photography by government institutions for improving road planning, real estate management, and land use calculations. As aerial images provide city planners with regular up-to-date information on traffic patterns, buildings, railroads, bridges, water features, and other urban infrastructure components, their utility for urban planning is expected to grow significantly.
Browse key industry insights spread across 300 pages with 272 market data tables & 26 figures & charts from the report, “Aerial Imaging Market Size By Platform (Fixed-wing Aircraft, Helicopter, UAV/drone), By Imaging Type (Vertical Imaging, Oblique Imaging), By Application (Geospatial Mapping, Disaster Management, Energy & Resource Management, Surveillance & Monitoring, Urban Planning, Conservation & Research), By End Use (Government, Energy, Military & Defense, Agriculture & Forestry, Archaeology & Civil Engineering, Oil & Gas) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
The military & defense end-use segment is expected to exhibit growth of over 15% from 2018 to 2024. This high growth is attributed to large-scale adoption of aerial imaging platforms in the defense sector for applications such as mission simulation, mission planning, and air defense planning. Aerial images are also used for mapping applications, wherein the maps are used for planning military operations and enabling ground-based combat troops to find their way.
The geospatial mapping segment dominated the market share in 2017 owing to extensive applications of different aerial imaging modalities in geospatial mapping functions. Aerial images are utilized for photogrammetric mapping services that use remote sensing technologies and photogrammetry to produce geospatial mapping deliverables.
North America aerial imaging market is projected to account for the majority revenue share of around 42% by 2024 due to large-scale investments in aerial imaging technologies by major market players such as Google and government institutions such as the Federal Aviation Administration (FAA) in the U.S. Due to7 rapid adoption of UAVs for imaging applications in the agriculture sector in the U.S., the region is expected to witness a steady demand.
The companies operating in the market are focusing on offering affordable imaging services to the customers as well as forging strategic partnerships with leading market players to extend their portfolio of aerial photography services and enhance their technological expertise.
For instance, in May 2018, DJI, a leading global manufacturer of consumer and commercial drones, entered a strategic partnership with Microsoft to bring advanced machine learning and AI capabilities to DJI drones. DJI also selected Microsoft’s Azure as a preferred cloud computing platform to leverage the platform’s machine learning and AI capabilities to process large volumes of aerial imagery into actionable insights for its customers.
Some of the key players operating in the aerial imaging market are Eagle View Technologies, Digital Aerial Solutions, Cooper Aerial Surveys, Kucera International, Google, Fugro EarthData, Nearmap, DJI, 3D Robotics, Airobotics, DroneDeploy, PrecisionHawk, Getmapping, and GeoVantage.