Aerial Imaging Market Analysis

Aerial imagining or also referred to as aerial photography is the process of taking photographs from an aircraft or a flying object such as drone. Different types of equipment or devices are used for aerial photography including fixed-wing aircraft, multi-rotor unmanned aircraft systems (UAS), helicopters, balloons, parachutes, blimps and dirigibles, rockets, kites, vehicle-mounted poles, and stand-alone telescoping. Aerial photography offers cost-effective and high-precision solutions for volume calculations, planning purposes, route design or renovation of existing mapping. Advancements in technology related to UAV and drone has increased the popularity of location-based services worldwide. Moreover, growing application areas the adoption of aerial imaging by the companies has increased to a great extent.

Recent Developments:

• In July 2022, Google, Inc., a technology company has launched Street View in India in partnership with Genesys International, a company that provides advanced mapping and Tech Mahindra, an information technology services and consulting company. Street View will provide 360 degree view of streets, tourist places, and landmarks.
• In November 2020, Cooper Aerial Surveys Co., aerial mapping professionals acquired Nor East Mapping, Inc., a provider of aerial photography. The company aims to provide quality deliverables and products together with Nor East Mapping, Inc. and also aims for more production capability, expanded services, and client support.

Growing number of applications in different sectors are expected to drive growth of the global aerial imaging market during the forecast period. Increasing use of aerial imagery in number of sectors is the major driver for the market growth. Aerial imaging has been used in disaster risk operation, archeology, cartography, journalism, defense and security, construction and development, tourism, and intelligence surveillance and reconnaissance (ISR). Furthermore, aerial imaging offers a variety of ground-based applications. For instance, it is helpful for farmers to monitor crops and identify problems such as blight and deploy suitable remedies. Aerial imagery is also used by many insurance companies in order to verify damage assessment and claims after hurricanes, floods and other disasters. Moreover, innovations in unnamed aerial vehicles (UAV) are expected to support the global aerial imaging market growth in the near future.

Restraint:

Concerns regarding public and national security are expected to hinder the global aerial imaging market growth over the forecast period. Although drones or unmanned aerial vehicles are meant for beneficial commercial applications, the images captured can be used for improper means. Potential criminals may conduct virtual surveillance of banks, government buildings, parks, or schools using online aerial and satellite images. In fact, the national security could also be compromised. For instance, in January 2007, aerial footage displayed by Google Earth was used by terrorists who attacked British bases in Basra, Iraq, to pinpoint their attacks. If adequate safety measures are not taken, lack of proper security and privacy issues are expected to hinder the market growth over the forecast period.

Aerial Imaging Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 2,582.60 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	15.4 %	2030 Value Projection:	US$ 9,266.05 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Application: Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research, Media & Entertainment By End-use Industry: Government, Commercial Enterprises, Civil Engineering Industry, Military, Forestry & Agriculture, Energy Sector, Insurance
Companies covered:	Google, Inc., Kucera International, Inc., NRC Group ASA, GeoVantage, Inc., Fugro N.V., Landiscor Real Estate Mapping, Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Nearmap Ltd, EagleView Technologies, Inc.
Growth Drivers:	Growing popularity of location-based services Technological Advancements in UAV or Drone Technology
Restraints & Challenges:	Concerns regarding public and national security

Global Aerial Imaging Market- Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has affected the global aerial imaging market significantly. Lockdown was imposed across the globe as a precautionary measure by governments. This led to the temporary suspension of all businesses related to the construction, manufacturing, retail, mining, transportation, and logistics industries. Due to financial crises faced by these industries the demand for aerial imaging reduced. Hence, the global aerial imaging market witnessed slow growth during pandemic.  

North America held a dominant position in the global aerial imaging market in 2021

Statistics:

North America held a dominant position in the global aerial imaging market in 2021, accounting for 32.0% share in terms of market share, followed by Asia Pacific region.

Figure 1: Global Aerial Imaging Market Share (%), By Region, 2021

Among regions, North America accounted for the largest market share in the global aerial imaging market, owing to the Increasing demand from the real estate sector. Aerial imaging is being increasingly implemented in real estate and construction industry for better overview of a property and the surrounding area. Standalone images of a property have become outdated in the recent past since drones and UAVs deliver better results. Moreover, the real estate sector in North America is growing significantly, thus there is a significant demand for aerial imaging. Property owners their property’s profile by using aerial imaging to improve its market demand. Furthermore, it is cost-effective and creative solution for potential buyers.

Asia Pacific region is expected to gain traction during the forecast period owing to the high investments done by the defense and military sector in aerial imaging for surveillance and targeted attacks, understanding land terrain to reach the enemy in countries such as China, India, Japan, Australia and others is driving the growth of the aerial imaging market in the Asia Pacific region.

Disaster response management segment is expected to drive the global aerial imaging market growth during the forecast period.

Among application, disaster response management segment is expected to hold major market share, and grow at a higher CAGR over the forecast period. The frequency of disasters such as floods, earthquakes, tornados, fire, and explosions has increased across the globe. As per ReliefWeb, a humanitarian information portal in 2019, 396 natural disasters were reported which affected 95 million people across the globe. Aerial imaging helps to mitigate the harsh effects and the risks associated with these disasters. The images captured help to plan the rescue operation, and analyze the hazards. All these advantages provided by aerial imaging are proving beneficial to the disaster response management segment.

Figure 2: Global Aerial Imaging Market (US$ Mn) Analysis and Forecast, 2018 - 2030

The global aerial imaging market was valued at US$ 2,582.60 Mn in 2021 and is expected to reach US$ 9,266.05 Mn by 2030, growing at a CAGR of 15.4% between 2022 and 2030.

Major players operating in the global aerial imaging market include Google, Inc., Kucera International, Inc., NRC Group ASA, GeoVantage, Inc., Fugro N.V., Landiscor Real Estate Mapping, Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Nearmap Ltd, EagleView Technologies, Inc.