Aerial Imaging Market Expected to Reach $8.52 Billion by 2030-Allied Market Research

According to a recent report published by Allied Market Research, titled, “Aerial Imaging Market by Application, End user, and Platform: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global aerial imaging market was valued at $2.26 billion in 2020, and is projected to reach $8.52 billion by 2030, registering a CAGR of 14.2%. North America was the highest revenue contributor, accounting for $0.88 billion in 2020, and is estimated to reach $3.09 billion by 2030, with a CAGR of 13.4%.

The need for land mapping is growing prominently across the world with Asia-Pacific exhibiting the highest growth rate. The traditional solutions such as, control point method, triangulation, trilateration, compass, transits, metal tapes, and others are proving inefficient for the estimation and planning of land & natural resources. In such scenarios, aerial imaging services have emerged as an effective tool for disaster management, forest & natural resource management, and entertainment projects. The use of technologically advanced mapping software, camera solutions, unmanned vehicles, and sensors reduces the risks associated with cost estimation, wastage of materials, project completion, and conflict resolution during every stage of project management.

The application of aerial imaging is influenced by its increased implementation across various verticals, surge in use of aerial imaging for disaster risk reduction and prevention, and use of aerial imaging technology in setting up 5G infrastructure. However, rising concerns over cyber-security and data security in drones and emergence of satellite imagery solutions restricts their adoption.

The COVID-19 pandemic wreaked havoc on social and economic systems across the world. Furthermore, the reduced GDP of major economies, such as the U.S., the UK, China, France, India, Germany, and others, in 2020, resulted in a decline in investment in emerging technologies, including aerial imaging. The reduction in aerospace spending had a negative impact on unmanned aircraft development and deployment plans, particularly unmanned aerial vehicles (UAVs), thereby limiting the availability for UAV-based aerial imaging services globally. Various countries with foundations of a drone-friendly environment, such as the U.S., the UK, China, Germany, and others, were able to quickly mobilize the technology from the start of the pandemic. These countries were able to incorporate aerial imaging into the COVID-19 response activities, due to enabling factors such as favorable regulations, skilled workforce, presence of vital resources, high adoption, and others.

Key Findings Of The Study

• By Application, the geospatial mapping segment is expected to register significant growth during the forecast period.
• By end user, agriculture and forestry segment is projected to lead the global market in terms of market share by the end of the forecast period.
• By platform, the UAV and Drone segment is projected to lead the global market, in terms of market share, by the end of the forecast period.
• By region, North America dominated the global aerial imaging market in 2020 in terms of market share.

The key players analyzed in the aerial imaging market include Aerial Imaging Productions, LLC, Blom Norway AS, Cooper Aerial Surveys Co., Digital Aerial Solutions (DAS), LLC, EagleView Technologies, Inc., Fugro N.V., Global UAV Technologies Ltd, Kucera International and Landiscor.