LONDON– Technavio analysts forecast the global aerial imaging market to grow at a CAGR of close to 13.28% during the forecast period, according to their latest report.
Global aerial imaging market to grow at a CAGR of close to 13.28% from 2016-2020, according to Technavio.
The research study covers the present scenario and growth prospects of the global aerial imaging market for 2016-2020. To calculate the market size, the report considers the following:
- The retail price of aerial imagery
- The revenue generated from aerial imagery in business sectors, including oil and gas, mining, agriculture and forestry, building and infrastructure, government, sustainable energy, and military and defense
- The revenue generated from leasing equipment (drones) for aerial imagery and aerial surveying in commercial applications
Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global aerial imaging market:
- High adoption in urban planning
- Rising popularity in precision agriculture
- Remote sensing and GIS in disaster management
- Low-cost sensor drone technology
High adoption in urban planning
High-resolution digital aerial imagery has gained popularity among planners, developers, and engineers for real estate management, land calculations, road planning, and small-scale mapping for most land applications.
Information from aerial images, along with GIS mapping, is used for analysis, strategic planning, and evaluation in engineering and urban planning. In addition, aerial images support professional response and recovery agencies, governments, and communities to recover from hazards, including natural disasters.
According to Rakesh Kumar Panda, a lead analyst at Technavio for M2M and connected devices, “Aerial imagery provides a great deal of information on a project site, which is not visible on the ground level. These aerial images provide a thorough approach for site identification, evaluation, and selection. Aerial surveys assess land suitability and capability for future use. The images offer an elevated perspective, helping urban developers identify land use opportunities, the feasibility of proposals, and required design changes.”
Rising popularity in precision agriculture
Geospatial technologies are used in precision agriculture to map spatial variations in crop and soil conditions. They match inputs related to water, seed, and fertilizers to the variations by applying them at variable rates.
Aerial photography gathers the necessary information for crop analysis and management. The normalized difference vegetation index (NDVI) can be measured using aerial imagery, which indicates the green vegetation levels of crops. Aerial imagery can be used to monitor crops, forests, and ecosystems for subtle changes in visible and near-infrared radiations.
“Due to technological advances in aerial imagery, farmers and ranchers worldwide are showing increased interest in aerial photography services. Aerial thermal photography helps determine crop temperatures, and along with NDVI, it provides comprehensive information on plants that need to be irrigated,” says Rakesh.
Remote sensing and GIS in disaster management
Natural disasters such as earthquakes, landslides, floods, fires, and cyclones cause huge property and infrastructure loss. Remotely sensed aerial data can be used to assess the severity and impact of the damage posed by these disasters. GIS can be used to manage large amounts of data required for vulnerability and hazard assessment during the catastrophe prevention stage. Also, it acts as a tool for planning evacuation routes, designing centers for emergency operations, and integrating aerial imagery data with other relevant information for the design of disaster warning systems during the catastrophe preparedness stage.
Low-cost sensor drone technology
Innovations in drone technology have facilitated the transition from high-cost fixed wing aircraft to cheaper and more efficient UAV LiDAR models. Low-cost UAV LiDAR systems find applications commercial, government, and environment and conservation sectors.
Inexpensive drones with advanced sensors and imaging capabilities enable precision agriculture, which helps farmers reduce crop damage and increase crop yield. Low cost of technology, along with the easy integration of multiple technologies, provides surveyors and consulting engineers a significant opportunity for development. The cost of a high-end GPS-controlled drone with a camera is around USD 6,000. Military agencies can replace older warships and aircraft with low-cost drones to handle the intelligence aspects. This replacement will help reduce costs related to upgrading obsolete war equipment.
Browse Related Reports:
- Global Military Satellite Market 2016-2020
- Global Remote Sensing Satellite Market 2016-2020
- Global Military Communication Market: Forecast and Research Analysis 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.