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Aerial Imaging Market is Estimated To Witness High Growth Owing To Accelerating Adoption Of AI And Analytics Based Solutions In Wide Range Of Applications

Aerial Imaging Market is Estimated To Witness High Growth Owing To Accelerating Adoption Of AI And Analytics Based Solutions In Wide Range Of Applications

The aerial imaging market is estimated to be valued at US$ 3439.29 Mn in 2023 and is expected to exhibit a CAGR of 15.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Aerial imaging refers to capturing photographs or videos from an airborne platform. It is commonly done using unmanned aerial vehicles (UAVs), helicopters, planes, balloons and other aircraft. Aerial imaging finds widespread applications in engineering, agriculture, monitoring of natural calamities, urban planning, surveillance and other areas. It provides bird's eye view of large geographical areas in high resolution which helps in mapping, monitoring changes and analyzing areas from above.

Market Dynamics:

The aerial imaging market is projected to grow at a significant rate during the forecast period, owing to rising demand across numerous application areas. Wide use of aerial imagery in engineering and construction projects for mapping, monitoring infrastructure development and urban planning is expected to drive the market growth. Moreover, increasing utilization of aerial images and drones in precision agriculture for analyzing farm fields, monitoring crop health and yield estimation is further expected to propel the market development. Adoption of aerial surveillance and monitoring across various industries including oil & gas, transportation and utilities will also contribute to the market growth. However, privacy and security concerns around unauthorized usage of aerial images could hamper the market growth.

SWOT Analysis

Strength: The aerial imaging market enables collection of comprehensive geospatial data for various industries. It provides high-resolution images that offer bird's-eye view insights. It allows monitoring of large areas in less time.

Weakness: Aerial imaging requires heavy capital investments in aircrafts, cameras, and software. Weather conditions pose challenges for image capturing. Strict regulations regarding drone and aircraft operations limit the scope of this market.

Opportunity: Developing technologies such as artificial intelligence, internet of things, and cloud computing offer opportunities to improve image analysis capabilities. Increasing construction and infrastructure development projects will drive demand. Rising adoption of drones and aircraft for delivery and surveillance applications will propel market growth.

Threats: Availability of free or low-cost satellite imagery poses threat to commercial aerial imaging service providers. Privacy concerns limit widespread usage of aerial data.

Key Takeaways

The Global Aerial Imaging Market Size is expected to witness high growth, exhibiting CAGR of 15.4% over the forecast period, due to increasing demand from government entities for surveillance and disaster management.

Regional analysis

North America dominates the aerial imaging market currently, owing to high technology adoption and presence of key players in the US and Canada. The Asia Pacific region is estimated to grow at the fastest pace due to rising infrastructure development and construction activities in China, India.

Key players

Key players operating in the aerial imaging market are Google, Inc., Kucera International, Inc., NRC Group ASA, GeoVantage, Inc., Fugro N.V., Landiscor Real Estate Mapping, Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Nearmap Ltd, EagleView Technologies, Inc.

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