Global Aerial Imaging Market Is Expected to exhibit a CAGR of 14.6% During the Forecast period (2019-2027), owing to Growing popularity of location-based services
The Global Aerial Imaging Market, By Application (Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research and Media & Entertainment), By End-use Industry (Government, Commercial Enterprises, Civil Engineering Industry, Military, Forestry & Agriculture, Energy Sector, Insurance),and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 6,085.9 million by 2027, exhibiting a CAGR of 14.60 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Aerial imagery or aerial imaging is the process of taking images of the ground from an elevated position, generally from a camera not supported by a ground-based structure. The process of aerial imaging is carried out with different instruments and devices including balloons, pigeons, kites, parachutes, unmanned aerial vehicles, helicopters, etc. The mounted cameras may be operated remotely or automatically. Aerial imagery or photography provides effective solutions that combine cost-effectiveness and high precision for planning purposes, volume calculations, route design, or merely to renew existing mapping. Although aerial imaging offers a variety of benefits, factors such as privacy issues and adverse weather conditions hinder its adoption.
The global aerial imaging market was valued for US$ 2,010.1 Mn in 2019 is expected to exhibit a CAGR of 14.6 % during the forecast period.
Growing popularity of location-based services is expected to propel growth of the global aerial imaging market during the forecast period
Location-based services are gaining traction rampantly with a large number of commercial and industrial websites identifying customers based on their location to provide relevant services. Currently, remote sensing is a widely used application to support location-based services. Such location-based services include emergency services, remote monitoring, mapping, navigation, and location-based mobile advertising. Aerial imagery (data) when used with location-based services creates detailed (descriptive and easy to understand) images, maps or cartograms that are more accurate and realistic, and aid customers in better understanding their location and surroundings. Moreover, aerial imaging provides users access to accurate and latest images surpassing conventional maps in terms of usability and accuracy. For instance, Google Maps guide a user to an appropriate address at an unknown location. Growing use of Google maps retailers, enterprise, hotels, restaurants, and catering organizations has increased the demand for geospatial information. Thus, these factors are expected to boost the global aerial imaging market growth over the forecast period.
Increasing demand for aerial imaging from the U.S. is expected to present lucrative growth opportunities
Unmanned aerial system (UAS) does not require pilot on board can enter environments that are dangerous. UASs overcome the drawback of endangering lives in adverse climatic conditions since they are capable of staying in the air for up to 30 hours. Thus, they are capable of performing accurate repetitive scans of a region in complete darkness and fog through computer control. Furthermore, unmanned aerial systems account for significantly lower operating costs as compared to manned aircrafts. According to the Association for Unmanned Vehicle Systems International (AUVSI), the direct operational cost of UAS per hour is about US$ 3.36 compared to US$ 250 to US$ 600 per hour of manned aerial systems. Moreover, presence of large market players such as The Boeing Company, Lockheed Martin Corporation, Denel Dynamics, and Textron Inc., is expected to offer lucrative growth opportunities in the near future.
Lack of adequate regulations and policies regarding aerial imaging is expected to hamper the global aerial imaging market growth over the forecast period
Although numerous countries around the world have regularized the aerial imaging, some countries in Middle East and Asia Pacific do not have effective rules for the same. Stringent regulatory policies are required for the proper and safe use of aerial imaging the equipment used for it. Lack of necessary policies regarding aerial imaging is expected to hamper the global aerial imaging market growth over the forecast period.
Increasing developments in imagery intelligence solutions
Increasing developments by the National Geospatial-Intelligence Agency (NGA) in the sector of map-based and imagery intelligence solutions for the U.S. National Defense, which in turn, is expected to drive the regional market growth. For instance, in October 2015, The San Diego Geographic Information Source (SanGIS) has taken the delivery of ortho-rectified aerial imagery in order to cover the entire country of San Diego. This imagery was the result of regional effort in accordance with the San Diego Law Enforcement Coordination Council (SD-LECC), the regional public safety GIS, and SANDAG, the National Geospatial Intelligence Agency (NGA) along with all the 18 incorporated cities in the country for providing higher resolution imagery and spreading cost among agencies.
Usage of aerial images for groundwater mapping
Increasing use of aerial photos for groundwater mapping is the major trend in the regional market. For construction of wells or tubewells, understanding the availability of groundwater is important. Groundwater is controlled by the rock types, structures, geomorphology, soils, etc. Aerial imaging aids in identifying topography, geological features, and distribution of the rivers in the region under consideration. Moreover, the land utilization survey database, geologic maps, and on-site investigation are adopted to quantitatively and qualitatively describe the hydro-geological conditions of the area.
Key players operating in the global aerial imaging market are 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, and EagleView Technologies, Inc.
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