Aerial Imaging Market - Forecasts from 2022 to 2027

The aerial imaging market was evaluated at US$2.014 billion for the year 2020, growing at a CAGR of 17.66% reaching the market size of US$6.285 billion by the year 2027.

Aerial imaging refers to photography that is done of a flying object. Numerous platforms can be used for taking photographs, which may include drones, helicopters, balloons, and others. The technology used in the process of taking these images may include both hardware and software. The market for aerial imaging is being driven by the fact that the applications of aerial photography have been increasing at a rapid pace across several end-user applications. Aerial imaging solutions have been gaining a lot of traction as they serve as an efficient solution for several purposes, including designing routes, map renovations, and volume calculations, among others. The burgeoning application of aerial imaging across the construction sector due to the modernization of the construction sector plays a significant role in shaping upmarket growth during the next five years. Furthermore, the growing adoption of aerial imaging for efficient disaster management is also propelling the business growth opportunities for the manufacturers of these solutions over the next five years.

With the advancement in imaging technology and the growing penetration of 360-degree vision cameras, LiDAR systems further enable the efficient deployment of these systems as these cameras and systems often deliver high resolution and outstanding results, which also serves as an opportunity for the aerial imaging market to witness throughout the next five years. The booming penetration of UAVs across several sectors, including defence, agriculture, oil and gas, and others, is further spurring the demand for aerial imaging solutions over the forecast period. The outbreak of COVID is further expected to somewhat positively impact the market growth because it is expected that this technology may serve as a fruitful option for governments and organizations to manage the outbreak of this disease. This can be backed up by the fact that in March 2020, Hexagon’s Geosystems division announced the launch of the HxGN Content Program, which is making the aerial image library of the U.S and Europe free to be used by government agencies and NPOs for the management of the outbreak of COVID-19. This, in turn, is expected to augment the deployment of more aerial imaging solutions, which in turn is projected to positively impact the market growth to some extent. However, the economic crisis in many parts of the world caused by the outbreak of the disease is expected to hamper public investments in this field. Also, the halt in operations across several industry verticals such as construction, media, and entertainment, among others, due to several government restrictions, is expected to moderately impact the market growth during the short run.

The market for aerial imaging is projected to be driven by the fact that governments across the globe are taking several steps to ease the regulatory requirements for the promotion of this technology. For instance, in March 2020, the Defence Ministry of India announced the development of the latest paperless system to cut down the delays in permissions for aerial photography or remote sensing surveys, with the primary aim of giving quicker permissions and improving the efficiency of aerial surveys.

The aerial imaging market has been segmented based on application, end-user, Camera Axis, and geography. By application, the classification of the market has been done based on disaster management, geospatial mapping, energy and resource management, surveillance and monitoring, and others. By the end-user, the segmentation of the market has been done based on government, military and defence, construction, agriculture, and others. The market is divided into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific.

Disaster management is expected to grow rapidly

By application, the disaster management application of aerial imaging solutions is expected to witness promising growth throughout the next five years, primarily because these solutions are being increasingly adopted for the assessment of the magnitude which is caused by any disaster. Furthermore, the overall climatic conditions across the globe are deteriorating due to global warming. This, in turn, has further accelerated the occurrence of natural disasters in many parts of the world. Thus, the burgeoning requirements for effective and efficient disaster management and the penetration of technology are increasing, which is further expected to positively impact the growth of this segment during the forecast period.

The surveillance and monitoring segment is projected to hold a significant share in the market because the growing terrorist attacks, thefts, and robberies have led to an increased focus by the governments of several countries to increase their focus towards the improvement of homeland security, which further leads to increased investments in surveillance and monitoring solutions.

The government will hold a significant share

By the end-user, the government segment is projected to hold a significant share in the market throughout the forecast period. The wide applications of these solutions across the government sectors for numerous applications that include homeland security, geospatial surveys, and urban planning, among others, are some of the key factors bolstering the significant share of this segment during the next five years. Also, the increased focus on efficient disaster management is further expected to bolster market growth until the end of the forecast period.

The growth in defence spending, especially in the developing economies, owing to rising regional tensions and increased security threats, has further led to the adoption of the latest technologies as the up-gradation of the existing infrastructure is required in many countries. Thus, the increased defence budgets are further expected to amplify the growth of this segment during the next five years.

The agriculture segment is expected to show promising growth because these solutions are being increasingly adopted on account of the growing adoption of modern agricultural techniques, which involves the adoption of drone technology, and sensor technologies for their assistance in several functions, such as soil health, fertility levels, among others.

North America will have a sizable share

Geographically, the North American region is projected to hold a healthy market share owing to the early adoption of technology. Furthermore, the wide adoption of UAVs across the different sectors throughout the region is further positively impacting the market growth during the next five years. However, the APAC region is expected to show considerable growth, primarily due to the increasing awareness regarding the utility of this technology in many countries, such as China, India, and Indonesia, among others.

Competitive Insights

Prominent/major key market players in the Aerial Imaging market include Fugro, Cooper Aerial, and Digital Aerial Solutions among others. The players in the Aerial Imaging market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered, along with the recent deals and investments of these important players in the Aerial Imaging market.

Recent Developments

• Aevum Inc. announced RAVN-X, a rocket-launching drone, in December 2020. It's intended to launch tiny satellites into orbit without the use of a controller or launch platform. RAVN-X, according to the firm, is ideal for aerial imagery and remote sensing. This system is self-contained and necessitates an expensive infrastructure.
• In January 2022 Iris Automation, Doosan Mobility Innovation (DMI), & Drone America agreed to investigate the feasibility and potential for long-range autonomously unmanned aerial vehicles using Doosan's hydrogen fuel cell technology (UAV).
• The US Navy and Boeing began testing the MQ-25 T1 test asset, an unmanned aerial refueler, in December 2021. The initial test was successful, indicating that unmanned vehicles could be used for refuelling in military operations in the future.

COVID-19 Impact

The COVID-19 pandemic has raised the demand for aerial imaging, which is being used to analyze the virus's economic impact and conduct remote management of infrastructure and utilities. Various industries boosted their need, such as government, power, energy, oil, and gas. During the peak of the pandemic, the imaging also tracked supply chain problems. Although drone surveying is growing more popular, the COVID-19 outbreak shifted the scales significantly in its favour. UAVs have become a go-to solution during the COVID-19 outbreak, owing to their ability to complete jobs without requiring a human touch. They've been instrumental in surveying and charting regions where hospitals & COVID-19 test centres could be placed, as well as monitoring such locations.

Segmentation

By Application

• Disaster Management
• Geospatial Mapping
• Energy and Resource Management
• Surveillance and Monitoring

By Platform

• Drones/UAV
• Fixed-wing Aircraft
• Helicopter

By End-User

• Government
• Military and Defense
• Energy
• Construction
• Agriculture

By Camera Axis

• Vertical
• Low Oblique
• High Oblique

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Middle East and Africa
• Saudi Arabia
• UAE
• Asia Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Indonesia
• Taiwan