Global Aerial Imaging Market: Increasing Popularity of Aerial Imagery to Reflect Positively on Market’s Growth
Global Aerial Imaging Market: Snapshot
The
global market for aerial imaging has been witnessing a substantial
growth over the past few years, thanks to the increased adoption of
advanced drone/unmanned aerial vehicle (UAV) in the defense and various
other industries. The growing footprint of aerial imaging solutions
across various applications, such as cartography, construction and
development, defense and security, and intelligence surveillance, is
another important factor, bolstering the growth of this market.
The
worldwide aerial imaging market stood at US$1.36 bn in 2016 and is
anticipated to register a CAGR of 14.6% from 2017 to 2025, reaching a
value of US$4.58 bn by the end of 2025. The rising popularity of
location-based services and various technological developments in the
field of advanced aerial camera systems and drone technology are
expected to propel this market substantially over the forthcoming years.
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Adoption of Aerial Imaging to Remain Higher in Geospatial Technology
Aerial
imaging finds a widespread application in energy, natural resources
management, geospatial technology, construction and development, defense
and intelligence, disaster response management, conservation and
research, and media and entertainment. Geospatial technology has been
reporting a greater application of aerial imaging. In 2016, it emerged
as the leading application area of aerial imaging with a share of 21.5%
in terms of revenue contribution.
The
defense and security sector also has always been a prominent consumer
of aerial imagery and geospatial data. The usage of aerial imagery in
this sector has now increased significantly due to the high level of
awareness among consumers and the availability of high-resolution aerial
imagery from numerous suppliers. The construction and development,
geospatial technology, and natural resource management are likely to
surface as promising applications areas of aerial imaging over the next
few years.
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North America to Retain Supremacy
The
global market for aerial imaging boasts of an extensive presence across
North America, the Middle East and Africa, Europe, Asia Pacific, and
South America. With US$575.9 bn in revenues, North America dominated the
overall market in 2016. Thanks to the rise in the agriculture and
forestry industry, this regional is likely to remain leading over the
years to come. Since aerial photography helps farmers to identify their
crops and take decisions regarding whether or not to increase the water
supply to the crops, its application in farming has increased,
reflecting greatly on the overall market.
The
Europe market for aerial imaging stood second in 2016 and is
anticipated to continue in this position in the near future. The growing
usage of aerial imagery for monitoring the aquatic vegetation,
increasing developments in imagery Intelligence solutions, and the
rising number of organizations in Europe involved in collection of
aerial photography are stimulating this regional market.
The
Asia Pacific Aerial Imaging market is being driven by the escalating
usage of aerial images for ground water mapping purposes while the
increasing application of aerial imagery in the tourism industry is
boosting the Middle East and Africa market. The South America market is
likely to gain from the steady growth of the agricultural and the
industrial sectors in the years to come.
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