Aerial Imagery Market Industry Size, Future Demands, Opportunities, Emerging Technologies, Regional Trends And Industry Growth

The growing adoption of aerial imagery in different application areas, such as surveillance & monitoring and energy & resource management, increasing use of drone-based technology, and rising occurrence of natural calamities are some of the key reasons behind the progress of the aerial imagery market. In 2016, the market generated a revenue of $1.4 billion, and it is expected to attain a size of more than 3.5 billion by 2023, advancing at a CAGR of 13.4% during the forecast period (2017–2023). Aerial imagery is a technique which helps in taking pictures of objects and grounds by using cameras installed on aircraft.

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Based on type, the aerial imagery market is categorized into high-oblique, low-oblique, and vertical imagery. Out of these, during the historical period (2013–2016), the high oblique category witnessed the highest CAGR, and it is predicted to exhibit the fastest growth in the market during the forecast period too. This is attributed to the increasing demand for high-oblique aerial photography from the government and defense sectors, as it is useful for various purposes, such as guiding pilots on photographic targets or landing sites.

Since high-oblique images are also adopted for orientation purposes owing to their capabilities of covering a large space, the market for high-oblique photography is predicted to be boosted during the forecast period. Further, on the basis of application, the aerial imagery market is classified into surveillance & monitoring, exhibition & live entertainment, construction & development, energy & resource management, disaster management, geospatial, and conservation & research.

Aerial photography in surveillance & monitoring is used to monitor the infrastructure to improve security programs and help the government asses and understand current and potential threats better. Further, the drone-based technology is gaining popularity in the aerial imagery market due to its wide applicability across different sectors, including agriculture and defense.

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In addition, with the growing incidence of natural disasters, such as fires, floods, earthquakes, cyclones, and tornadoes, across the globe, the government of various nations is shifting toward aerial photography to assess the actual loss of property and life, thereby resulting in the progress of the aerial imagery market. Aerial imagery is a widely deployed solution to help in updating the map information after a disaster, as it offers high-resolution images that are easy to perceive for disaster management teams.

Thus, the increasing adoption of drone-based technology and growing occurrence of natural calamities are predicted to augment the growth of the market during the forecast period.

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