The global aerial imagery market stood at $1.4 billion in 2016, which is expected to grow at a CAGR of 13.4% during 2016-2023 . The increasing adoption of aerial imagery in multiple application areas, such as surveillance and monitoring, geospatial, energy and resource management, conservation and research, exhibition and live entertainment, disaster management, and construction and development has been the key driver for the market.
The growth in adoption of drone technology has been reshaping the aerial imagery market, which is allowing it to explore several areas including agriculture and defense intelligence. Drones coupled with aerial images offers user-controlled image acquisition by bridging the gap between ground observations and imagery acquired. Drones present a cost-effective method by allowing easy change in landscape and height, resulting in best possible spatial and temporal resolution for research and land-mapping. Also, with the increasing number of natural calamities such as earthquakes, fire, floods, cyclones and tornadoes occurring globally, the governments of many countries are inclining towards the use of aerial imagery solutions to determine the actual loss of life and property. It is a highly preferred solution to update the map information after disaster, as it provides high resolution images that are easy to understand for disaster management teams. It offers the ability to monitor and assess the potential damage from calamities, by enabling disaster management authorities to take corrective measures.
Taking into an account of geographical landscape, North America contributed the largest revenue to the global aerial imagery market in 2016, and is expected to remain the largest market during the forecast. The market is expected to witness the fastest growth in Asia-Pacific in the coming years as the region sees a rising demand for surveillance and monitoring to combat national and international threats. In 2016, Asia-Pacific accounted for over 20% market share in the global aerial imagery market.
The global aerial imagery market is moving towards consolidation as the market is witnessing acquisitions and partnerships among key players. The leading players such as EagleView Technologies Inc., Fugro N.V., Digital Aerial Solutions LLC, Google Inc., and Getmapping PLC, are focusing on technological improvements and integrated and joint innovation practices to build an entire new ecosystem for aerial imagery. This would further strengthen their position and market presence.
