New technological developments boost demand in Global Aerial Imaging Market
The global aerial imaging market is expected to record a CAGR of 14.5% during the outlook period (2020-2025).
Aerial imaging provides images of land surfaces captured from an elevated location using cameras. Cameras mounted on various aerial vehicles, including helicopters, airships, kites, balloons, and unmanned aerial vehicles (UAVs) are used to take images. Aerial imaging finds wide application in various vertical industries such as civil engineering, research, government, agriculture, and others.
Aero-Metric, a leading provider of professional geospatial services with sites throughout the United States, has acquired its third Intergraph® Z / I Imaging (DMC®) digital mapping camera to expand its high-quality aerial imaging capabilities.
Market Drivers and Restraints:
The advent of technological developments such as the Internet of Things (IoT), LiDAR systems, GIS (geographic information system) and 360-degree vision cameras have boosted the global aerial imaging market. For example, unmanned aerial vehicles (UAVs) and drones are examples of aerial imagery that are gaining popularity in various end-user industries. Aerial imaging is crucial in applications like forestry, mining, oil and gas exploration, disaster management, etc., to plan strategies in advance. The application of GPS and inertial technology to create a detailed and accurate three-dimensional set of points or 3D point cloud models has gained popularity in global industrial sectors. Furthermore, with the rules to simplify aerial imaging, the studied market should see significant growth.
However, satellite imagery as an alternative option is expected to limit the growth of the aerial imagery market. Advanced technologies, including GIS (Geographic Information System), LiDAR systems and 360-degree vision cameras, are supposed to create significant opportunities for the aerial imaging market.
Impact of COVID-19:
Because of the negative effect of coronavirus, a portion of the non-clinical manufacturing organizations have begun producing clinically related items, for example, masks, ventilators, and related segments, sanitizer, and others. This has led to the declined revenue in the aerial imaging business, which is supposed to expand in the coming years.
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Report is segmented as:
- Geospatial Mapping
- Disaster Management
- Energy and Resource Management
- Surveillance and Monitoring
- Others (Habitat, Power Line, Advertising, and Photography)
- Agriculture & Forestry
- Civil Engineering & Archaeology
- Media & Entertainment
- Others (Insurance, and Tourism)
The government is expected to be the main end-use segment during the forecast period. The government sector uses this technology for various purposes such as urban planning, national security, energy management and monitoring of environmental studies, etc. Furthermore, agricultural, forestry and commercial applications are also expected to grow at a considerable rate during the projection period.
Based on geography, the global aerial imaging market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, the growth of the global aerial imaging market is led by North America mainly due to the increasing implementation of aerial imaging in the agricultural and forestry industry for better decision making. The global market in North America generated revenue of US $ 683.7 million in 2017 and is likely to dominate the market throughout the forecast period.
Key market players:
Key market players include AeroMetric Inc., Google Inc, Eagle Aerial Solutions, Kucera International Inc., Landiscor Aerial Information, and Eagle View Technologies.etc. Kucera International Inc. offers aerial photography, orthophotography, plotting, stereo compilation, and volumetric surveys, etc. Eagle View Technologies serves the construction, real estate, solar, GIS, energy & utilities, safety, and federal applications.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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