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Aerial Imaging Market Size, Regional Overview, Competitive Landscape, Business Growth, Share Analysis And Forecast To 2033
Aerial Imaging Market Share
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According to The Business Research Company's, The aerial imaging market size has grown rapidly in recent years. It will grow from $3.45 billion in 2023 to $3.96 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increased infrastructure development, rise in precision agriculture, global connectivity and remote work, regulatory support, economic growth and industrial expansion.
The aerial imaging market size is expected to see rapid growth in the next few years. It will grow to $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rise in urbanization sector, growing real estate industry, rising smart city initiatives, rise in tourism and entertainment sector, rising disposable income. Major trends in the forecast period include artificial intelligence and machine learning integration, 3d modeling and photogrammetry, augmented reality (ar) applications, 5g connectivity, customized solutions.
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Market Drivers and Trends:
Growing incidents of natural disasters are expected to propel the growth of the aerial imaging market. Natural disasters are sudden and terrible events in nature changes such as a hurricane, tornado, or flood mainly due to climate that usually results in serious damage and many deaths. Aerial imaging helps to take prompt on-ground action, much faster than manual detection, analysis, and action to reduce further damages while reducing response time. Due to growing incidents of natural disasters, there will be an increasing demand for aerial imaging solutions to manage the situations. For instance, according to the World Economic Forum, in the past 20 years, 7,348 disasters are recorded that took 1.23 million lives. China alone reported 577 disasters, followed by the US with 467, and India with 321 respectively. In 2021, the Assam earthquake was a major natural disaster in India that occurred in April 2021 which resulted in 2 deaths and injuries of 12-13 people and lots of property damage. Thus, the growing incidents of natural disasters are expected to drive the growth of the aerial imaging market.
Major companies operating in the aerial imaging market are developing innovative technologies such as Atva to provide a more sustainable solution for aerial cargo transport. Atva is a versatile compact hybrid VTOL (Vertical Take Off and Landing) drone. It is designed to redefine aerial cargo transport, mapping, and surveillance with its eVTOL technology. For instance, in October 2023, ePlane's Amber Wings, an India-based developer of unmanned aerial vehicles, launched Atva, a hybrid vertical takeoff and landing (VTOL). Atva is a promising new development in the field of drone technology. It has the potential to revolutionize a number of industries and make a positive impact on the world. Moreover, Atva is equipped with a variety of sensors, including a high-resolution camera. This allows it to be used for mapping and surveillance applications. The camera can be used to create detailed maps of large areas or to monitor and survey areas of interest.
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Major Key Players of the Market:
Digital Aerial Solutions LLC, Airobotics Ltd., Cooper Aerial Surveys Co., EagleView Technologies Inc., Fugro N.V., SZ DJI Technology Co. Ltd., 3D Robotics Inc., Aeromao Inc., Aerovel Corporation, AgEagle Aerial Systems Inc., Airware Inc., Datumate Ltd., Delair Tech SAS, DroneDeploy Inc., Esri Inc., FLIR Systems Inc., Geomni Inc. (a Verisk Analytics business), Intel RealSense Group, MicaSense Inc., Nearmap Ltd., Optelos Corporation, Parrot Drones SAS, Phoenix LiDAR Systems Inc., Pix4D SA, PrecisionHawk Inc., Quantum Spatial Inc. (Aerometric Inc.), Quantum-Systems GmbH, senseFly SA (a Parrot company), sensemetrics Inc., SimActive Inc., Skydio Inc., SlantRange Inc., Trimble Inc., YellowScan SAS
Aerial Imaging Market 2024 Key Insights:
• The aerial imaging market size is expected to see rapid growth in the next few years. It will grow to $7.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.
• The Escalating Incidents Of Natural Disasters Driving Aerial Imaging Market Growth
• Innovative Technologies In The Aerial Imaging Market
• North America was the largest region in the aerial imaging market in 2023
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