PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1551438
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1551438
Global Aerial Imaging Market is valued at approximately USD 9.25 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 25.5% over the forecast period 2024-2032. Aerial imaging involves capturing photographs from airborne platforms, including drones, helicopters, and aeroplanes. This technique has applications in volume-based calculations, route design, urban planning, and updating existing maps. The increasing popularity of location-based services and the expanding application areas of aerial imagery are prominent drivers of this market. Additionally, the use of advanced technologies such as LiDAR systems, 360-degree vision cameras, Artificial Intelligence, and geographic information systems is creating new growth opportunities.
The introduction of artificial intelligence (AI) software has enhanced the overall performance of unmanned aerial systems in tasks such as photography, mapping, inspection, and more. Drones equipped with AI can now provide real-time data and analytical feedback, significantly improving area mapping and object tracking capabilities. Companies like Folio3 Software Inc. have designed AI software for drones that process data and provide comprehensive reports in a dashboard format. These advancements in AI and drone technology are expected to drive the market further.
The adoption of aerial imagery services has significantly increased in the past few years due to their diverse applications, including the development of topographic maps, surveillance, and photogrammetric surveys. The growing use of surveillance drones for public, wildlife, and critical infrastructure safety has increased demand for aerial imaging. The demand for aerial imagery in sectors such as oil and gas, construction, and resource management is also a significant growth driver. High-resolution mapping and surveys are essential in various industries, including architecture, solar energy, engineering, and traffic engineering. The increasing adoption of drones for infrastructure inspection, pipeline maintenance, and solar panel monitoring further propels the market growth. Companies like KVS Technologies are entering agreements to offer UAV services for infrastructure inspection, emphasizing the efficiency and precision drones bring to the table. However, the market faces challenges due to the lack of uniformity in regulations for drones and UAVs. Different countries have varying regulations for drone operations, which can hinder the industry's growth. Uniform air traffic management and regulatory frameworks are needed to minimize operational challenges and ensure safe drone operations.
The key regions considered for the Global Aerial Imaging Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Aerial Imaging Market in terms of revenue. The market growth in the region is being attributed to factors including the increasing use of aerial imagery in the U.S. and Canada, the region's flourishing trade, and economy, and the presence of major manufacturers. Whereas, the market in the Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by rising opportunities, government expenditures, and the increasing number of imaging applications in countries like India and China. Europe will witness moderate growth due to the demand for aerial imaging in the real estate and infrastructure segments.