Aerial Imaging Market share to exceed $2.65bn by 2022
Posted: Feb 09, 2017
The report "Aerial Imaging Market Size By Application (Government, Agriculture & Forestry, Civil Engineering, Military & Defense, Energy, Insurance, Commercial), Industry Outlook Report, Regional Analysis, Application Potential, Competitive Market Share & Forecast, 2015 – 2022". Aerial imaging market size forecast to reach USD 2.65 billon by 2022, According to Global Market Insights, Inc. Impelled by growing popularity of capturing photographs from an elevated position across various sectors such as Government, Civil Engineering, Agriculture & Forestry, Military & Defense, etc.
Helicopters, rockets, balloons, fixed-wing aircraft, and stand-alone telescoping are some of the commonly used platforms used in aerial imaging. Technological evolutions and growing demand across various application areas such as insurance, energy, etc. is expected to propel the aerial imaging industry demand over the coming years.
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Aerial imaging technology is preferably used for various ground based commercial applications. Military application is projected to surpass USD 200 million in the coming five years. Aerial imaging industry is witnessing a substantial growth, due to evolving technology developments in agriculture and insurance sector. For instance, farmers are adopting the aerial imaging technique for monitoring crop diseases, whereas on other hand insurance sector is utilizing this technology to settle down claims in the estimation of damages caused by natural calamities such as hurricanes and floods.
Demographic mapping, road planning, optimum land-use calculations, climate change, etc. are key factors influencing the aerial imaging market size in the civil engineering applications. Moreover, the increasing adoption of aerial imaging technology in other areas including disaster reduction & prevention, engineering & land-use planning, archaeology, and energy management will further boost the aerial imaging industry share.
Government sector is projected to account for 29% of the total aerial imaging market share by 2022. Aerial imaging applications mainly comprise government, commercial, military & defense, agriculture & forestry, energy, civil engineering, and insurance. The government sector is predicted to surpass a revenue of USD 750 million by 2022, owing to the increasing usage of this technology for key applications such as urban planning, homeland security, energy management, and monitoring environmental studies. Furthermore, the commercial application will generate lucrative revenue over the coming timeframe, driven by its mounting need for advertising, promotional activities along with its usage to evaluate construction progress.
Considering geographical outlook, Asia Pacific aerial imaging market is anticipated to surpass a revenue of USD 400 million by 2022. The growing number of semiconductor companies will be the attributing factor towards the APAC regional growth. In addition, rapid technological development and increasing consumer demands will further influence the regional market share over the coming years.
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North America aerial imaging industry size is expected to dominate the global market share over the coming years, owing to the huge investment in R&D along with rising advancement in the telecommunication sector. The mounting number of PAMS and UAVs will increase the demand for aerial imaging elements over the coming years. The Unmanned Aerial Vehicle market is estimated to propel the aerial imaging industry over the coming years, owing to the increasing significance of UAV for the military applications such as strike missions, combat search & rescue (CSAR) operations, suppression of enemy air defense (SEAD).
Aero-Metric Inc., Eagle Aerial Solutions, Google, Eagle View Technologies, Landiscor Aerial Information, and Kucera International Inc. are some of the prominent industry players in aerial imaging market.
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