Aerial Imaging Market Size to Grow to USD 8457.7 Million by 2029 at a CAGR of 15.9% | Valuates Reports
BANGALORE, India, Oct. 18, 2023 /PRNewswire/ -- The Global Aerial Imaging Market is Segmented By Type (Unmanned Aerial Vehicles, Helicopters, Fixed-Wing Aircraft, Others), By Application (Government Agencies, Military and Defense, Energy Sector, Agriculture And Forestry, Civil Engineering, Commercial Enterprises, Others): Global Opportunity Analysis And Industry Forecast, 2023-2029.
The global Aerial Imaging market was valued at USD 3489.4 Million in 2022 and is anticipated to reach USD 8457.7 Million by 2029, witnessing a CAGR of 15.9% during the forecast period 2023-2029.
Major Factors Driving The Growth Of Aerial Imaging Market
Technology improvements have increased the quality and accessibility of aerial photography, making it important in sectors like agriculture, urban planning, disaster management, and environmental monitoring. This has led to a boom in the aerial imaging market.
Aerial imaging's development has also been aided by the growing use of the technology by government organizations for a variety of purposes, including precision agriculture, infrastructure inspection, and real-time monitoring. Aerial imagery is a crucial tool for data collecting and analysis because of its affordability and expanding industrial applications, which are driving the market's pronounced expansion.
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TRENDS INFLUENCING THE GROWTH OF AERIAL IMAGING MARKET
For government organizations, aerial imagery is helpful in a variety of contexts, including urban planning, disaster response, and environmental monitoring. In order to make well-informed decisions and allocate resources effectively, it delivers high-resolution, real-time data for monitoring land usage, identifying infrastructure requirements, and evaluating the effects of natural catastrophes. This element is anticipated to fuel the market for aerial imaging to rise.
The aerial imaging market has grown significantly as a result of improvements in image technology. More thorough and precise airborne data gathering has been made possible by the development of high-resolution cameras, multispectral sensors, LiDAR (Light Detection and Ranging), and thermal imaging devices. These developments enable a wider range of applications, from infrastructure inspection to precision agriculture.
Aerial photography is now more affordable to acquire and process, making it more available to businesses and organizations. Aerial photography is a cost-effective option for a variety of applications as a result of price reductions brought on by increased market competition. Aerial imagery-based real-time monitoring has become more popular across a range of businesses. Access to up-to-date information is helpful for situational awareness and decision-making, especially in industries like transportation, logistics, and emergency response. This element is anticipated to fuel the market for aerial imaging to rise.
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AERIAL IMAGING MARKET SHARE ANALYSIS
With a market share of roughly 50%, the Americas is the largest region.
The many product kinds include fixed-wing aircraft, helicopters, unmanned aerial vehicles, and others. Unmanned aerial vehicles account for nearly 40% of all products.
It is frequently used in government organizations, the military and defense industry, the energy industry, agriculture and forestry, civil engineering, commercial enterprises, and other areas.With a share of almost 25%, government entities are the most prevalent application.
Blom ASA, Digital Aerial Solutions, Cooper Aerial Surveys, Fugro, Landiscor Aerial Information, EagleView Technology, Nearmap, Kucera International, Quantum Spatial, and other major global manufacturers of aerial imaging collectively account for around 22% of the market.
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Key Companies:
- Blom ASA
- Digital Aerial Solutions
- Cooper Aerial Surveys
- Fugro
- Landiscor Aerial Information
- EagleView Technology
- Nearmap
- Kucera International
- Quantum Spatial
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