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Aerial Imaging Market Forecast to Reach $5.09 Billion by 2026

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Aerial Imaging Market Forecast to Reach $5.09 Billion by 2026

July 08
15:28 2021
Aerial Imaging Market Forecast to Reach $5.09 Billion by 2026

Aerial Imaging Market
The Application of Aerial Imagery in Applications Such as Homeland Security and Management of Environmental Changes Will Drive the Demand for Aerial Imaging Market.

The Aerial Imaging Market is forecast to reach $5.09 Billion by 2026, growing at a CAGR of 10.2% from 2021 to 2026. The Aerial Imaging Market is driven by the increasing applications of aerial imaging in the agriculture, government, civil engineering, research, and other sectors. The increasing adoption of aerial imagery in multiple application areas, such as surveillance and monitoring, Geospatial, energy and resource management, conservation and research, exhibition and live entertainment, disaster management, construction and development has been the key driver for the market. The demand for high oblique in the aerial imagery market is expected to grow at fastest pace during the forecast period. With the increasing crime rate and rise in advanced defense technologies, the growth for aerial imagery market is expected to be high from defense sector.

Aerial Imaging Market Segment Analysis – By Imaging Type

Vertical aerial imaging is the more common imaging type used in the current market. Although the use of aerial imaging technique is cost-effective there are certain challenges associated with its employment, such as lack of safety insurance, limited assurance, and concern of privacy when the action is performed by a drone or other autonomous devices. At present, journalists are operating drones to collect valuable information but there are certain challenges associated with it such as negative public perception, privacy violation risk, operational safety risk, hazards are among others. Besides these challenges, aerial photography also provides with an amazing experience such as perfect shot, elevated angle view, and pilot handling experience among others. Oblique aerial photographs provide the viewer with an easily comprehensible image of a location and is useful for looking at foreground building frontages. Thus, the oblique aerial imaging market is set to grow at a higher rate.

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Aerial Imaging Market Segment Analysis – By End Use Industry

The defence sector will dominate the Aerial Imaging Market in the coming years. This segment uses aerial imaging to safeguard border areas and prepare map structures. Other areas such as research and exploration, mining, oil and gas, archaeological surveys, and resource management also use aerial imaging. The increasing awareness of precision agriculture for field mapping and crop scouting has compelled the farmers to use aerial imaging in the farming. This will drive agriculture as the fastest growing segment in the Aerial Imaging market.

Aerial Imaging Market Segment Analysis – By Geography

North America is expected to dominate the Aerial Imaging Market during the forecast period due to the large-scale applications of aerial imagery in the energy, agriculture, and defence sectors in this region. North America had a share of 36% in 2020 due to signficiant adoption in the U.S market. Europe and Asia-Pacific follow in terms of market share. Asia Pacific is expected to have the fastest growth in the coming years due to growing applications of drone filming in government and agricultural sectors in countries such as China and India. The Middle East and African markets are expected to be driven by the increasing applications of aerial imagery in the tourism industry. The South American market will be driven by the growing applications of aerial imagery in the agricultural and industrial sectors.

Aerial Imaging Market Drivers

Farm Labour Shortage Driving Aerial Imaging in Agriculture

There is a discernible dearth of farm labourers worldwide. This labour scarcity is spurring farm owners to invest in technology-alternatives, and one of them is Aerial Imaging, particularly with drones. As mentioned above, this alternative to labour saves a lot of time and imparts good performances. Perceptibly, low-wages and education will further reduce the employment of labourers in the agricultural sector which will drive the Aerial Imaging market. However, in the short to midterm, Aerial Imaging, despite their relatively higher cost offer a better ROI and savings for large agricultural companies and are thus witnessing significant adoption. Aerial imagery will help farmers to be informed about their vast agricultural acreage by capturing high resolution elevated pictures with details of an individual plant. This will further help the farmers to take informed decisions about their crops growth and field, reduce water wastage and increase production efficiency.

Rising Investment into Aerial Imaging Startups

The market potential for aerial imaging has led to increased investment into new startups focused on aerial imaging, particularly for drones.An aerial spectral imagery company Ceres Imaging, helps farmers to solve their problem with a unique pair of hardware set and agriculture expertise have received a funding of $5 million by Romolus capital. Birmingham-based geospatial insight, it provides information and intelligence through aerial and satellite imagery, has receives £1.68m investment to expand its caps. Company named Glasgow-based Bird, a French entrepreneur with a background in earth observation satellite management has secured £210,000 of RSA funding from Scottish Enterprise. The technological advancements as a result of the funding being provided to these companies will propel the market growth of aerial imaging during the forecast period.

Aerial Imaging Market Challenges

Ban on Commercial Use of Drones for Aerial Imaging

Commercial use of drones or capturing aerial imagery is banned in most of the global market because of privacy and terrorist concerns. This is expected to restrain the market growth. The navigable airspace regulations surrounding consumer drones, particularly in U.S market will also hinder the market growth. FAA regulations must be dramatically scaled back and reformed to reflect the countless benefits and comparatively minimal risks associated with drone technology. The presence of these overly restrictive regulations on the commercial drones market will hinder the market growth of aerial imaging.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Aerial Imaging Market. The Aerial Imaging Market is dominated by major companies such as NRC Group ASA, Cicade s.a, Digital Aerial Solutions, Cooper Aerial Surveys Co, Fugro N.V., and Landiscor Aerial Information among others.

Acquisitions/Technology Launches/Partnerships

Nearmap offers the aerial view in a distinctive way i.e. combination of hardware (specially designed camera systems) and software (processing and stitching together the images seamlessly) For every 100 square miles captured, roughly 10,000 images are being stitched together unlike satellite images or drone photos.

In 2019 DJI created a new version of the Phantom 4 Pro drone, known as Phantom 4 Pro V2.0. Ageagle LLC manufactures unmanned aerial vehicles. Its products are AgEagle RX-60 and RX-48 Systems. This product is used for commercial aerial imaging primarily.

Key Takeaways

The Internet of Things is a launch pad for the drone sensors. This factor drives the demand for drone aerial spraying in the forecast period. The growing adoption of unmanned aerial vehicles in defence and other industries will boost the demand for aerial imaging services.

The increasing popularity of location-based services and technological developments in the field of advanced aerial camera systems and drone technology will spur the growth of aerial video photography.

The application of aerial imagery in applications such as homeland security and management of environmental changes will drive the demand for aerial imaging.

The growing incidences of natural disasters will enhance the growth of aerial imaging.

Related Reports :

A. Video Surveillance and Analytics Market

B. Geospatial Imagery Analytics Market

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