A new report has been published by Transparency Market Research, titled “Aerial Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2020”.
TMR, a market intelligence company based in the U.S., states that the global aerial imaging market was estimated at US$0.97 billion in 2013 and is expected to reach US$2.29 billion by 2020, expanding at a 13.4% CAGR between 2014 and 2020.Aerial imaging has been popular in several end-use applications, namely natural resources management, cartography, archeology, disaster risk prevention and reduction, and forestry management. There are a number of factors fuelling the global aerial imaging market, such as rising drone/UAV technology, rising popularity of services that are location-based, and technological advancements in aerial platforms and camera systems.
On the basis of application, the aerial imaging market is segmented into natural resources management, geospatial technology, disaster response management, construction and development, conservation and research, defense and intelligence, and media and entertainment. Amongst these, the defense and intelligence segment was the largest segment in the global aerial imaging market owing to the increasing adoption rate in the government sector, rise in awareness among end users, and development of high-resolution aerial imagery from numerous suppliers.On the basis of end users, the aerial imaging market is segmented into commercial enterprises, government, military, civil engineering, energy, forestry and agriculture, and insurance. Amongst these end users, the government sector represented the biggest revenue share of 27.7% in the market in 2013. Government organizations are consistently implementing aerial imagery and other similar services in demographic planning, homeland security, and land and property management for managing and monitoring environmental changes.
On the basis of geography, the aerial imaging market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). Among these regions, in 2013, North America was the largest market and was trailed by Europe.The North American aerial imaging market is predicted to maintain its dominance throughout the forecast horizon owing to the increasing demand for aerial systems that are drone-based. This demand is also backed up by UAV companies present in North America. Additionally, the rise in demand from the forestry and agricultural end-use sectors for aerial imagery is also predicted to increase the development of this market in North America.
To add on, the rise in consumer awareness in North America has also led to an increase in aerial imaging applications. On the other hand, a number of factors, including time delays, unfavorable weather conditions, national security concerns, and operational regulations and limitations posed by the Federal Aviation Administration (FAA) for controlling the issues of safety and privacy have impeded the growth of the aerial imaging market.Fugro EarthData and BLOM ASA are the two major companies holding the maximum revenue share in this market. The aforementioned two companies, coupled with Pictometry International Corp., represented around one fourth of the total revenue in the global aerial imaging market in 2013.
Browse the full Aerial Imaging (Energy, Geospatial technology, Natural resources management, Construction, and Defense) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 – 2020 report at http://www.transparencymarketresearch.com/aerial-imagery-market.html