Global Aerial Imaging Market to Reach US$3.3 bn by 2023 owing to Rising Popularity of Location-based Services

Transparency Market Research has published a new report on the global aerial imaging market. The report states that the global aerial imaging market is expected to progress from US$1.07 bn in 2014 to US$3.3 bn by 2023. The report, titled ‘Aerial Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,’ states that the market is expected to expand at a 13.50% CAGR from 2015 to 2023 owing to expanding application areas, technological developments, and the increasing popularity of location based services.

Aerial imaging is the procedure of taking images of the ground from the air, ideally from a camera. Some of the common platforms to capture aerial images are helicopters, multi-rotor unmanned aircraft systems, fixed-wing aircraft, dirigibles and blimps, rockets, balloons, kites, parachutes, stand-alone telescoping, and vehicle mounted poles. Aerial photography provides a cost-effective image capturing solution for volume calculations, planning purposes, and for plotting the route design. Aerial imaging also assists in renewing existing map databases.

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The global aerial imaging market is expected to be propelled by factors such as the growing application of aerial imaging across various industry verticals and the untapped market. The demand for aerial imaging is expected to be the highest from the real estate industry in the years to come. However, factors such as privacy and national security concerns and operational limitations are predicted to hamper the growth of the global aerial imaging market in the next few years.

NRC Group ASA, CICADE s.a Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Fugro N.V., Landiscor Aerial Information, EagleView Technologies, Inc., and Nearmap Ltd. are some of the leading players operating in the global aerial imaging market. The global aerial imaging market is segmented on the basis of end-use industry, application, and geography. By geography, the global aerial imaging market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2014, North America accounted for a dominant share of 42% in the global aerial imaging market. The increasing application of aerial imaging in forestry and agriculture lands is predicted to propel the North America aerial imaging market in the years to come.

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The demand for aerial imaging in the Middle East and Africa and Latin America is expected to rise in the next few years as well.

By application, the global aerial imaging market is classified into energy, natural resources management, geospatial technology, construction and development, defense and intelligence, media and entertainment, and conservation and research. In 2014, the defense and intelligence segment accounted for 21.1% of the global aerial imaging market. The construction and development segment is expected to register considerable growth in the coming few years owing to the increasing infrastructural activities.

Commercial enterprises, military, forestry and agriculture, government, insurance, and energy are some of the end-use segments of aerial imaging. In 2014, the global aerial imaging market was dominated by the government segment with a share of 28%.

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