Aerial Imaging Market Size To Reach USD 14.22 Billion By 2024
The global aerial imaging market is projected to reach USD 3.3 billion by 2024. Aerial imaging involves capturing images of the ground using unmanned aerial vehicles (UAVs), helicopters, dirigibles, blimps, kites, and parachutes. It provides useful information for volume calculation map renovations, planning, and route design.
The aerial imaging market is driven by the demand for aerial images and related geospatial data. It also faces high demand from the forestry & agriculture sector and other commercial enterprises. Technological advances; such as LiDAR (Light Detection and Ranging), IMU (Inertial Measurement Unit), and airborne GPS (global positioning system), can boost market revenues in the near future.
Camera technologies, like Microsoft’s ‘UltraCam Hawk,’ ‘Eagle,’ and ‘Osprey’ should also trigger industry demand. But security concerns and unclear regulations regarding the operational use of aerial imaging are predicted to impede market growth.
Key Players:
Prominent players in the global Aerial Imaging Market are Kucera International Inc., EagleView Technologies, AeroMetric Inc., and Google Inc. Some of these companies market their own software & equipment, while others lease them or operate within the industry by collaborating with software providers. For instance, EagleView Technologies offers real estate, energy & utilities, construction, real estate, and safety & federal applications. New market entrants can act as data partners to existing companies or act as separate imaging companies. Participants undertake initiatives to develop current technologies to gain a competitive edge in the market.
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The worldwide Aerial Imaging Market is segmented according to applications and regions. Insurance, government, military & defense, agricultural & forestry, GIS (geographical information system), civil engineering, commercial, and energy are the key application areas. Military & defense will exceed USD 250 million by 2024. UAVs and Personal Aerial Mapping System (PAMS) are used by the military for reconnaissance missions. These systems are also employed in ground-based commercial applications. PAMS provide detailed photographs of surfaces at affordable costs.
UAVs can be deployed even in highly dangerous military operations, since these can execute accurate and repetitive commands in unfavorable settings. Farmers use UAVs to monitor their fields and crops. The insurance sector uses it to survey damages after floods or hurricanes and thus settle claims. Energy companies use aerial imagery to inspect transmission lines, gather data from solar & wind power plants, and provide additional security to these plants.
Government applications are estimated to cross over USD 950 million by 2024. The government sector uses drones for urban planning, energy management, environmental planning, and homeland security. Commercial applications could generate maximum revenue during the forecast period. These include advertising and promotional activities. Aerial photography provides land cover maps, soil maps, and vegetation maps with the help of spatial data. Combining this technology with GIS can aid in urban planning.
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