The global aerial imaging market size was USD 5.88 billion in 2021. The market is projected to grow from USD 7.51 billion in 2022 to USD 36.70 billion in 2029 exhibiting a CAGR of 25.44% during the forecast period.
This information is presented by Fortune Business Insights, in its report titled, “Aerial Imaging Market, 2022-2029.”
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List of Key Players Profiled in the Aerial Imaging Market Report:
- Nearmap Inc. (U.S.)
- EagleView Technologies Inc. (U.S.)
- Cooper Aerial Surveys Co (U.S.)
- Vexcel Imaging Inc. (U.S.)
- Fugro N.V (Netherlands)
- AgEagle Aerial Systems Inc. (U.S.)
- Dronegenuity Inc. (U.S.)
- Ceres Imaging Inc (U.S.)
- Geovantage Inc (U.S.)
- Dronedeploy Inc. (U.S.)
Segmentation
Vertical Aerial Imaging Segment Held the Highest Share in 2021 Due to Growth in Various Mapping Related Applications
Based on the camera orientation, the market is classified into vertical and oblique
In terms of camera orientation, the global market is categorized into oblique and vertical.
The oblique segment held a higher market share and is projected to grow with the highest growth rate during the forecast period.
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Low Oblique Segment Will Showcase Remarkable Growth Due to Rising Demand for Real Estate and Other Applications
By Oblique, the market is divided into Low and High Oblique.
Oblique aerial photographs provide the viewer with a comprehensible image of a location and is useful for looking at foreground building frontages.
The Low Oblique segment will grow with the highest CAGR during the forecast period.
Growing Use of Aerial Imaging by the Governments in Different Countries to Drive the Growth of the Market
Based on End-Use, the market is classified into Government, Defense, Forestry and Agriculture and Others (Infrastructure, Transport, Media, and Entertainment)
The Government segment is set to grow at the highest CAGR during the forecasted period.
The global aerial imaging market has been segmented into North America, Europe, Asia Pacific and the Rest of the World.
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Driving Factors
Rising Demand for Surveillance in Government and Defense Sector Will Propel Market Growth
Due to the numerous uses for aerial imagery services, including the creation of topographic maps, surveillance, photogrammetric surveys, and others, their use has substantially increased over the past few years. The demand for aerial imagery has increased as a result of the expanding use of surveillance drones for applications in public, wildlife, and critical infrastructure safety and security.
Regional Insights
North America to Hold Dominant Share Backed by Increasing Adoption of Technology
The aerial imaging market in North America, which accounted for the highest share in 2021, is anticipated to expand at a moderate CAGR over the expected period. Due to the region’s thriving trade, economy, and presence of significant industries, this expansion is ascribed to the rising use of aerial images in the U.S. and Canada.
Due to the demand for aerial photography in the real estate and infrastructure sectors, Europe will have moderate development throughout the projection period. Due to the presence of large manufacturers and the usage of drones in the agriculture sector, this rise is ascribed to demand for use in nations like the United Kingdom, Germany, France, and others.
Competitive Landscape
Key Players Sign Significant Contracts to Make Remarkable Changes in Market
The players operating in the market often employ numerous tactics that will aid the market growth and product demand. Among the pool of strategies, one such notable strategy to expand the business prospect is signing multimillion contracts with government bodies and securing profitable revenue for their own company.
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Key Industry Development
June 2022: Energinetor awarded Fugro N.V a five-year contract for the collection of aerial and lidar imagery data for power transmission networks. For data collection, the company will employ a lightweight aircraft fitted with scanning technologies.
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