Global Aerial Imagery Market Witnessing Solid Growth: Forecast to Grow at a CAGR of 14.5% by 2027
Published | 25 November 2021
Aerial imagery has emerged as a valuable tool for topographical mapping, as well as for the visualization of objects, features, and locations. The global aerial imagery market is growing at a high CAGR because of the infrastructural development of smart cities across countries, along with new technological development in the field of cameras and drones…
A recent study, conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global aerial imagery market was worth USD 2.1 billion in the year 2020. According to the study, the market is estimated to grow at a CAGR of 14.5%, earning revenue of around USD 5.4 billion by the end of 2027. The global aerial imagery market is gaining significant traction due to the infrastructural development of smart cities across countries. Additionally, the growing need for improved site evaluation and monitoring of water resources are significantly propelling the market growth. Additionally, the growing need for improved site evaluation and monitoring of water resources are significantly propelling the market growth. Furthermore, advances in imaging technology and new technological developments in cameras and drones have also contributed to the market's expansion. The aerial imagery market is moving towards consolidation since key players are acquiring each other and forming partnerships. However, restrictions on the commercial use of drones in various regions and countries may act as major restraints on market growth.
Increasing Use of Drone-Based Technology Driving the Global Aerial Imagery Market
Since drones do not require data links that add to their weight, various government bodies use them to create maps instead of relying on manual mapping (central mapping authority). Drones are also gaining traction within construction sites due to their ability to fully view the infrastructure from all angles and make better strategic decisions for mapping roads, parking, and open space. Additionally, capital projects and infrastructure maintenance benefit from drones, also known as unmanned aerial vehicles (UAVs). Drone images enable businesses to acquire image sets with great precision and at a cost-effective price. Such factors are anticipated to drive the overall market in the forecast period.
Growing Application of Aerial Imagery for Security Purposes is Projected to Drive the Market Growth
The expanding use of aerial imagery for security and surveillance purposes is presenting lucrative growth opportunities to the global aerial imagery market. The use of drones is rapidly gaining traction for identifying intruders, and they prove to be very useful for tracking and apprehending them. In high-sensitive areas such as public demonstrations, hospitals, schools, government buildings, etc., security drones provide a closer look at intruders without alerting them and enabling the security team to respond.
Global Aerial Imagery Market - By End-User
Based on distribution channels, the global aerial imagery market is segmented into construction, agriculture, media & entertainment, oil and gas, aerospace & defense, energy & power, government, and other end-user industries. The government segment represents the largest market share of the end-user segment. Government sectors prominently use aerial imagery techniques for a wide range of purposes, including urban planning, land use, environmental studies, conservation, etc. Other segments, such as agriculture, oil, and gas, construction, etc., also cover a substantial share in the market.
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Global Aerial Imagery Market - Regional Insights
Geographically, the global aerial imagery market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America dominates the global aerial imagery market. However, the Asia-Pacific (APAC) region is projected to witness the highest CAGR during the forecast period because of the increasing construction activities in emerging economies such as China, India, Japan, etc., and rapid urbanization in these countries. Government and commercial players in APAC countries are increasingly adopting aerial imagery techniques to plan smart cities, which is driving the region’s market growth.
Impact of COVID-19 on Global Aerial Imagery Market
The global aerial imagery market was initially halted by the sudden outbreak of the COVID-19 pandemic. As the countries had to impose strict lockdown restrictions to mitigate the spread of the virus, the operations of various industries such as construction, oil, and gas, etc., came to a halt. Moreover, urbanization and smart city projects were paused due to a shortage of workforce and social distancing practices. This resulted in a sharp decline in the demand for aerial imagery techniques. However, the market is expected to recover in the forecast period as the government starts focusing on fueling economic activities in the post-COVID-19 era.
Competitive Landscape - Global Aerial Imagery Market
The leading players in the global aerial imagery market are Eagle View Technologies, Fugro N.V., Digital Aerial Solutions, LLC, Google, Inc, Kucera International, Inc, Blom ASA., Getmapping, PLC, Nearmap Ltd., High Eye Aerial Imagery, NRC Group ASA, SkyIMD, Inc., Airobotics, Global UAV Technologies Ltd., GeoVantage, Inc., Landiscor Real Estate Mapping, Cooper Aerial Surveys Co., Parrot SA, Yuneec International, PrecisionHawk, and other prominent players.
Industry players are focusing mainly on technological improvements and integrated and joint innovation practices to create an entirely new ecosystem for aerial imagery. This would further strengthen their position and market presence, globally. Furthermore, the adoption of competitive strategies like partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global aerial imagery market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global aerial imagery market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Global Aerial Imagery Market, By Platform Type (Fixed-Wing Aircraft, Helicopters, UAVs/Drones, Other Platform Types), By Application (Geospatial Mapping, Infrastructure Planning, Asset Inventory Management, Environmental Monitoring, National and Urban Mapping, Surveillance and Monitoring, Disaster Management, Other Applications), By End-User (Construction, Agriculture, Media & Entertainment, Oil and Gas, Aerospace & Defense, Energy & Power, Government, Other End-user Industries), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: November 2021
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