Aerial Imaging Market Growth Analysis

Market Insights

The Aerial Imaging Market was estimated at US$ 2.9 Billion in 2021 and is expected to grow at a CAGR of 13.1% during 2022-2028 to reach US$ ~10.1 Billion in 2028.

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What is Aerial Imaging?

Aerial Imaging is the technique of taking pictures of the ground using cameras placed on airplanes, helicopters, parachutes, aircraft, kites, unmanned aerial vehicles (UAVs), balloons, vehicle-mounted poles, and airships, among other types of vehicles. Aerial imagery is aided by risk reduction, resource planning, mapping, research & excavation, security & surveillance, urban planning, engineering, farming management, tourism, and other areas.

Market Dynamics

Due to the numerous uses for aerial imaging services, including photogrammetric surveys, the creation of topographic maps, environmental research, surveillance, and other uses, their use has grown. In the upcoming years, the market is anticipated to increase as a result of expanded application areas across many verticals, including agriculture, forestry, energy & resources, and civil engineering. In addition, factors including the spike in demand for various commercial applications, the usage of aerial imaging technology in the construction of 5G infrastructure, and the rise in demand for aerial imaging in catastrophe risk reduction and prevention are anticipated to support market expansion. However, strict government rules surrounding national security, inaccurate picture data collecting, and an increase in worries about drone cyber-security are projected to restrain market expansion.

Aerial imaging technology makes it possible to see the impacts of climate change and makes it possible to collect useful remote sensing data with topographical information that demonstrates variations in soil, climate, vegetation, forest cover, water coverage, and other factors. The camera is positioned as low as possible when taking aerial photographs from above. Because they are captured vertically downward, overhead photographs are frequently utilized for mapping purposes. To produce digitally improved, intricate maps and charts, overhead aerial imagery has been used. Aerial photography is used by experts to map land usage, climatic conditions, and geographical information on the Earth's surface. The market for overhead aerial imaging will increase throughout the projected period due to the rise in demand for remote sensing and mapping as well as the newest technological developments like GIS, UAVs, and cloud computing.

An operator may execute aerial mapping and undertake surveys of small regions using a personal aerial mapping system, which is a combination of hardware and software. It processes genuine orthophotos, better 3-D surface height models, and field-based overview maps. PAMS, unlike conventional approaches, allows for rapid and simple functionality, making it possible for a single operator to run it. In the long run, this saves time and money. PAMS also has several advantages over traditional aerial imaging, including the fact that it runs when there are no clouds present, which reduces its reliance on the weather. In fact, it may be readily carried as luggage into a compact automobile or a passenger aircraft.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• In order to have a better perspective of a property and its surroundings, aerial imagery is being used more often in the real estate and construction industries. Since drones and UAVs produce superior results, standalone pictures of a property are no longer relevant. Aerial imagery is in high demand as a result of the developing real estate markets in Asia and Africa. Aerial imagery may help property owners raise the profile of their property and increase market demand. Additionally, it offers potential customers an innovative and economical option.
• Despite the COVID-19 epidemic, global military expenditures rose to approximately $2 trillion in 2020. The United States, China, Russia, India, Japan, and South Korea are the main contributors to the increase in military spending. Many nations have likewise raised their military spending. For instance, Russia will spend $61.7 billion more on its military in 2020, an increase of 2.5%. Therefore, rising military spending in multiple nations is projected to fuel market expansion.

Covid-19 Impact

The worldwide aerial imaging market was significantly hit by the COVID-19 epidemic. The COVID-19 epidemic has slowed new product deliveries for the majority of the major drone and UAV manufacturers since it has disrupted the supply chain. The pandemic has also had an effect on the funding sources designated for R&D and the adoption of innovative technology in the aerial imaging industry. Throughout 2020 and the first half of 2021, issues including production problems and limited demand for new drones and UAVs in the midst of strict lockdown measures were noted. However, due to the expanding usage of aerial photography and analytics in several end-use verticals, the post-pandemic demand for aerial imaging is anticipated to increase significantly.

Segments Analysis

By Application Type

The market is segmented into geospatial mapping, disaster management energy and resource management, surveillance and monitoring, urban planning, and others.

By End-User Type

The market is segmented into the government, military and defense, energy, agriculture and forestry, media and entertainment, civil engineering, and others.

By Platform Type

The aerial imaging market is segmented into fixed-wing aircraft, helicopters, UAVs and drones, and others.

Regional Analysis

In terms of regions, North America will likely maintain its supremacy in the Aerial Imaging market throughout the forecast period.  The primary factor driving market expansion is the expanding usage of aerial imaging in various industries. In catastrophe risk management, archaeology, mapping, journalism, military and security, building and development, tourism, and intelligence surveillance and reconnaissance, aerial imagery has been employed (ISR). Aerial imagery also has several ground-based uses available.

Concurrently, Asia Pacific is expected to witness the fastest growth in the aerial imaging market during the forecast period. Unmanned aerial vehicles, or drones, are intended for useful commercial purposes, but the photographs they take may be misused. Using internet aerial and satellite photos, potential thieves might virtually monitor banks, governmental structures, parks, or educational institutions. In actuality, there may be a threat to national security. The Middle East and Africa are bigger markets for aerial imaging than South America.

Key Players

There is stiff competition in the aerial imaging market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their aerial imaging based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:

• For instance, in December 2019, Pushpin, a U.S.-based business, was purchased by Nearmap Ltd., an Australian aerial mapping company, for US$ 3.5 million.

• For instance, Spookfish, a firm that specializes in aerial imagery, was purchased by EagleView Technologies Inc. in December 2018.

The overall competitive landscape has been affected due to these mergers and acquisitions. 

The following are the major players in the market:

• Digital Aerial Solutions (DAS), LLC
• EagleView Technologies, Inc.
• Fugro N.V.
• Aerial Imaging Productions, LLC
• Blom Norway AS
• Cooper Aerial Surveys Co.
• Global UAV Technologies Ltd
• Kucera International
• Google, Inc.
• NRC Group ASA
• GeoVantage, Inc.
• Landiscor Real Estate Mapping
• Nearmap Ltd

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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