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North America Aerial Imaging Market is Projected to Account for the Majority Industry Share of 42% by 2024

Author : Ronak Bora | Published Date : 2019-05-23 

North America aerial imaging market is projected to account for the majority market share of around 42% by 2024 due to large-scale investments in aerial imaging technologies by major market players such as Google and government institutions such as the Federal Aviation Administration (FAA) in the U.S. Due to the rapid adoption of UAVs for imaging applications in the agriculture sector in the U.S., the region is expected to witness a steady growth between 2018 and 2024.

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A slew of advancements in geospatial technology has been instrumental in adding impetus to aerial imaging market lately, to such as extent that government organizations to commercial businesses, have now found ways to utilize the technology to their own advantage. Hurricane Harvey is one of the most iconic examples that demonstrates the progress of aerial imaging industry. The prompt intervention of EagleView Technologies had then restored some relief to the hurricane affected victims, while simultaneously increasing the popularity of aerial imaging.

The vertical imaging segment held the majority share of the aerial imaging market in 2017 due to the major utility of the imaging practice in geospatial mapping applications. As vertical aerial images provide useful data for preparing precise digital models of terrains, they are widely used for mapping functions by government institutions.

The urban planning segment in aerial imaging market is projected to register the fastest growth of over 17% between 2018 and 2024 due to the increasing adoption of aerial photography by government institutions for improving road planning, real estate management, and land use calculations. As aerial images provide city planners with regular up-to-date information on traffic patterns, buildings, railroads, bridges, water features, and other urban infrastructure components, their utility for urban planning is expected to grow significantly over the forecast period.

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Aerial imaging market in 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.

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.

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.

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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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