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Aerial Imaging Market to Witness 15% CAGR from Oblique Imaging Segment Over 2018-2024

Author : Ronak Bora | Published Date : 2019-03-25 

The Aerial Imaging Market is projected to exhibit a robust growth with a CAGR of around 13% between 2018 and 2024. The growth can be attributed to the factors such as increasing adoption of UAVs for aerial imaging applications, rising incidents of natural disasters, technological advancements in aerial camera systems, and increasing uptake of aerial imaging platforms in the military and defense sectors for surveillance and monitoring purposes. Also, the adoption of aerial imaging platforms in the government sector for applications such as environmental studies, homeland security, research initiatives, and urban planning is witnessing a steady uptake.

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The competition in the aerial imaging market is driven by technological innovations in drone technology as well as sensor technologies for facilitating the acquisition of high-level aerial images. Due to the aggressive expansion and product development initiatives undertaken by the UAV/drone manufacturers, the competition in the aerial imaging market is expected to intensify over the forecast timeline.

Also, with the growing utility of aerial imaging in emerging applications, such as urban planning and disaster management, the demand for imaging services and platforms will increase considerably between 2018 and 2024. Consequently, the companies will take measures to modernize their imaging platforms and offer enhanced and affordable imaging services to their customers.

The UAV/drone platform held a major market share of around 71% in 2017 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 the advent of drone technology that serves as a reliable alternative for capturing aerial images in varying climatic conditions.

Oblique imaging segment is expected to exhibit accelerated growth over the forecast timeline with a CAGR of over 15%. This excellent growth is attributed to the benefits of better determination of feature elevations and coverage of more ground area compared to vertical imaging taken from the same altitude with the same focal length.

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The geospatial mapping segment dominated the aerial mapping market in 2017 due to the 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.

The military & defense market is expected to exhibit the fastest growth between 2018 and 2024 with a CAGR of over 15%. This high growth is attributed to the 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.

North America is projected to account for the majority market share of around 42% by 2024. This key market positioning is attributed to the early uptake of advanced aerial imaging solutions by the government and agriculture sectors and high investments in the drone technology for the military and defense applications in the U.S. With the increasing inclination of the farmers based in the U.S. toward modern precision agriculture practices, the demand for aerial photography is likely to increase consistently over the forecast timeline.

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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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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