Aerial Imagery Market Report Overview
-
Request a Free Sample to learn more about this report
The global aerial imagery market size was USD 2.37117 billion in 2022. Per our research, the market is expected to reach USD 6.107 billion in 2031, exhibiting a CAGR of 10.07% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the aerial imagery market growth and demand returning to pre-pandemic levels once the pandemic is over.
Images taken from the air, typically by aircraft or satellites, are "aerial imagery." Aerial imagery comes in a wide variety, with unique advantages and uses. Visible light, near-infrared, thermal infrared, and multispectral imaging are some of the most popular kinds of aerial images. Since it is what people can physically see, visible light imaging is the most common sort of aerial imagery. Though it captures significantly more detail, near-infrared imaging is similar to visible light imaging. Thermal infrared imaging records heat signatures, which can be helpful for tasks like seeing structures or pinpointing hot regions for fires.
More wavelengths are captured by multispectral imaging than by any other aerial imagery type, making it valuable for crop mapping and environmental monitoring tasks. In both the public and private sectors, aerial imaging has many uses. Examples of typical applications include emergency response, mapping and surveying, land management, environmental monitoring, security and defense, and agricultural monitoring. Only our imaginations can constrain the applications of aerial images!
COVID-19 Impact: The Lockdown and Less Demand for the Product Hampered the Market Growth
The world is in chaos as a result of the Covid-19 pandemic's rampant outbreak. Businesses have been forced to close, economies have collapsed, and people are finding it difficult to make ends meet. The aerial imaging market has been impacted by all this upheaval, among other industries. The need for airborne imaging was expanding steadily before the pandemic. But the Covid-19 outbreak has had an enormous effect on this business. There is far less demand for aerial images due to firms closing and travel restrictions. Companies in this industry have seen a drop in revenues due to this. Despite the difficulties, some businesses have been able to adjust and carry on with their operations. For instance, many drone operators have begun advertising their assistance with relief efforts. They assist first responders in locating those in need by giving aerial photos of areas affected by the pandemic. It is unclear how long the Covid-19 pandemic will endure and what the market for aerial images will experience as a result.
Latest Trends
"The High-Resolution Cameras and Drones to Boost the Market Expansion."
The most recent trend in aerial imagery is using high-resolution cameras and drones to take pictures. As a result, there is now a greater demand for these services from organizations and individuals who want to find the most recent and accurate information about their surroundings. Aerial picture processing and interpretation have become more straightforward due to this trend, which has also sparked the creation of new platforms and software.
Aerial Imagery Market Segmentation
-
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the aerial imagery market can be segmented into low oblique, vertical, and high oblique. Among these, low oblique is projected to experience rapid growth through 2031.
- By Application Analysis
The market can be divided based on application into surveillance and monitoring, geospatial mapping, energy and resource management, conservation and research, and media & entertainment & disaster management. Surveillance and monitoring are expected to hold the most significant aerial imagery market share in the upcoming years.
Driving Factors
The Decreasing Cost for Aerial Photography to Fuel the Market Expansion
One of the most sought-after items on the market is aerial photography. This is a result of increased accessibility for both consumers and enterprises. The cost of airborne photography and image equipment is falling: Moore's Law argues that the cost of digital goods declines over time, and industry competition has been a driving factor. Demand for aerial photography has substantially grown as prices have decreased.
"The Increasing Accuracy and Ease of Use of Aerial Images to Propel the Market Growth"
Another impetus is the rising accuracy of aerial pictures. Aerial photographs are now significantly more accurate than they formerly were due to sensor technology developments. This implies that various tasks, like surveying land, monitoring construction progress, and even event planning, can be accomplished using them by both enterprises and private individuals. The simplicity of use of these products has been one of the main reasons influencing the expansion of the aerial imagery market. Anyone can quickly obtain and use high-quality aerial pictures with the help of online resources like Google Maps and Bing Maps.
Restraining Factors
"High Cost, Government Regulations, and Lack of Qualified Personal to Hinder the Market Growth"
A variety of circumstances may constrain the market for aerial images. The price of purchasing and maintaining an airplane is one such consideration. Specialized equipment, which can be costly to buy and hold, is needed for aerial imagery. Government rules may also limit the use of airplanes for commercial purposes. The availability of qualified employees is another aspect that may impact the market for aerial images. Although they are vital, people with the abilities and understanding to use aerial imaging equipment may be hard to come by in some places.
Aerial Imagery Market Regional Insights
-
Request a Free Sample to learn more about this report
"U.S. to Dominate Market Due to Decreasing Cost for Aerial Photography"
Between 2022 and 2031, the aerial imagery market will be dominated by U.S. Factors driving the market growth in this region include the decreasing cost of aerial photography.
Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The increasing accuracy and ease of aerial images fuel regional market expansion.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Google (U.S.)
- High Eye Aerial Imaging Inc. (Canada)
- Keystone Aerial Surveys, Inc (U.S.)
- The Sanborn Map Company, Inc. (U.S.)
- Nearmap (Australia)
- Ofek Aerial Photography (Israel)
- Eagle View Technologies, Inc. (U.S.)
- BLOMASA (Norway)
- Fugro (Netherlands)
- Kucera International Inc. (U.S.)
- Digital Aerial Solutions, LLC (U.S.)
- NRC Group ASA (Norway)
- Aeroptic (U.S.)
- Cooper Aerial Surveys Co. (U.S.)
- Eagle Aerial (U.S.)
- Verisk Analytics, Inc (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2.37117 Billion in 2022 |
Market Size Value By |
US$ 6.107 Billion by 2031 |
Growth Rate |
CAGR of 10.07% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the aerial imagery market expected to touch by 2031?
The global aerial imagery market is expected to touch USD 6.107 billion in 2031.
-
What CAGR is the aerial imagery market expected to exhibit during 2022-2031?
The aerial imagery market is expected to exhibit a CAGR of 10.07% over 2022-2031.
-
Which are the driving factors of the aerial imagery market?
Decreasing costs for aerial photography, increasing accuracy, and ease of use of aerial images are driving factors in the aerial imagery market.
-
Which are the top companies operating in the aerial imagery market?
Google (U.S.), High Eye Aerial Imaging Inc. (Canada), Keystone Aerial Surveys, Inc (U.S.), The Sanborn Map Company, Inc. (U.S.), and Nearmap (Australia) are some of the top companies in the aerial imagery market