Aerial Imaging Market Growth Overview:
Aerial Imaging Market Growth is expected to grow at a CAGR 12.5% forecast 2027. Technological advancements such as the Internet of Things (IoT), LiDAR systems, GIS (geographic information system), and 360-degree vision cameras have bolstered the Aerial Imaging Market Growth. Unmanned aerial vehicles (UAVs) and drones are two instances of aerial imagery that are gaining traction in a variety of end-user sectors.
Aerial mapping of the terrain is critical for planning and implementing diverse tactics in a variety of applications, including forestry, coastal navigation, mining, oil and gas exploration, and disaster management. The use of GPS and inertial technology to generate a detailed and precise three-dimensional set of points or three-dimensional point cloud models has gained popularity in the world's industrial sectors.
Additionally, the Aerial Imaging Market Growth is seeing increased demand for a variety of applications from a variety of end-user sectors. Numerous uses include increased surveillance and monitoring, disaster management, geographic mapping, infrastructure development mapping capabilities, and assisting farmers in monitoring crops and identifying problems. As the Aerial Imaging Market Growth is still in its infancy, increasing demand for a variety of applications is projected to drive global growth.
List of Key Companies
Blom Norway AS (Norway), Fugro N.V. (Netherlands),SZ DJI Technology Co., Ltd. (China),Nearmap Limited (Australia),EagleView Technologies Inc. (US),Digital Aerial Solutions, LLC (US),Aerobotics, (Pty) Ltd. (South Africa),DroneDeploy, Inc. (US),Cooper Aerial Surveys Co. (US),GeoVantage, Inc. (US),Kucera International, Inc. (US)Segment Overview
COVID-19 Analysis
According to MRFR, the current projections of global Aerial Imaging Market Growth growth till 2027 are expected to be lower than pre-COVID-19 estimates due to a slight decline in the production of tools necessary for aerial imaging. However, COVID-19 has led to a surge in demand for aerial imaging tools, owing to their ability to get things done without any contact, and is expected to continue doing so for at least the next few years.
The aerial imaging industry has witnessed growth since the COVID-19 pandemic began. The integration of aerial imaging tools into the conventional systems for land surveying and inspection purposes has contributed significantly to the growth of the Aerial Imaging Market Growth during the COVID-19 outbreak. Aerial imaging has become essential in getting accurate surveying data to build modular hospitals for the victims. The surveying process is fast, efficient, and safe, thus, becoming the go-to technology during the pandemic.
Market Segmentation:
Increasing Demand for UAV/Drone-based Aerial Imaging to Bolster Demand for UAVs/Drones
The global Aerial Imaging Market Growth based on platform type has been segmented into fixed-wing aircraft, helicopters, UAVs/drones, and others. The UAVs/drones segment is expected to dominate the market over the forecast duration. This is due to an increase in their adoption for applications such as precision agriculture, surveying & mapping, insurance claim verification, aerial remote sensing, to name a few. Increasing spending by the defense agencies around the world on the procurement of military-grade UAVs/drones is also expected to boost the demand for UAVs/drones during the forecast period.
Growing Use of Aerial Imaging Solutions for Defense and Homeland Securityto Observe Strong Demand in the Defense Segment
Based on application, the Aerial Imaging Market Growth has been classified into land surveying, energy equipment monitoring, agriculture, public safety and inspection, and defense. In 2020, the defense segment held the largest market share. The increasing use of drones in defense and homeland security to identify challenges related to terrorism and precisely locate vulnerable areas are expected to contribute to the demand for aerial imaging solutions in the segment. Drones help the military augment their force, thereby enhancing their capabilities to subdue terror and counter the emerging challenges related to terrorism and national security. Thus, the defense segment is likely to be responsible for a major chunk of Aerial Imaging Market Growth revenues in the coming years during the review timeline.
Regional Analysis:
North America Accounted for the Largest Market Share
North America dominates the Aerial Imaging Market Growth. The dominance of the region in the Aerial Imaging Market Growth is projected to continue throughout the forecast period, owing to the presence of prominent players such as Eagle View Technologies Inc., Near map Limited, Digital Aerial Solutions, LLC, and SZ DJI Technology Co., Ltd. Additionally, the region is home to some of the major players operating in the Aerial Imaging Market Growth, including Eagle View Technologies Inc., Drone Deploy, Inc., Cooper Aerial Surveys Co., and Digital Aerial Solutions, LLC. Additionally, the growing adoption of aerial imaging solutions by organizations both at the public and private levels is expected to boost the growth of the North America Aerial Imaging Market Growth during the study period.
APAC Projected to Register a Significant Growth owing to the Rapidly Increasing Adoption of Aerial Imaging Solutions across Several Industry Verticals
The Aerial Imaging Market Growth in APAC is projected to exhibit a significant CAGR during the forecast period. The increasing adoption of aerial imaging solutions, primarily across the energy, agriculture, and land surveying sectors in countries such as India and China, is expected to drive market growth. Asia-Pacific provides a lucrative opportunity for the companies offering aerial imaging solutions to invest in. In addition, the major energy companies in the region have bolstered their optimization plans with innovative digital solutions, which is projected to bode well for the growth of aerial imaging solutions in the region.
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