The global aerial imaging market size is poised to expand at substantial CAGR during the forecast period. An innate need for agriculture and crop management, disaster management, maintenance of pipelines, detecting the enemy troop from distant in military and defense, and covering a huge range of events happening on the ground has produced an impeccable demand for aerial imaging solutions worldwide. In fact, India stands to be one of the highly vulnerable countries to witness natural disasters. And this fact has indeed carved out a profitable curve for aerial imaging market in the region.
It would be crucial to mention that aerial imaging industry in India is set to depict gains of 21% up to 2024. Likewise, some of the other pivotal trends that are likely to influence the global growth of aerial imaging business space have been outlined below:
Burgeoning sales of drones and UAVs in America
When speaking of the aerial imaging solutions, one of the products that comes into people’s mind is drones or UAVs. Their proliferating demand can be attributed to the rising adoption and sales of these platforms for capturing aerial imagery across some of the prominent industry verticals like defense and military, construction, agriculture.
Reports have it that the product is anticipated to acquire a fair share of 80% of North America aerial imaging market by 2024 end. Of different types of drone, multirotor drones are anticipated to observe a prolific surge in adoption given their umpteen merits including increased stability and easier control.
Ongoing developments by U.S. industry conglomerates
Various industry players partaking in the global aerial imaging market have been investing heftily in drone technology, product development, and mergers and acquisitions to gain a competitive edge in the overall market space in the upcoming years. For instance, Microsoft had in 2018 teamed up with DJI to implement Microsoft’s machine learning capabilities to its commercial drones. As per news reports, the new drone SDK for Windows 10 provides data transfer and full control to windows 10 PCs, thereby leading to a direct connection of drone and systems.
Drone technology for urban planning in Asia Pacific
Today, drones are being largely used for urban planning for aerial imaging and mapping to realize the applications of road planning, land use calculations, and real estate management. Urban planners and developers are extensively shifting to drone technology to retrieve information from densely-populated cities to hard-to-reach areas. How drones help in such operations is that they effectively monitor the urban environment and landscape architecture for planning purposes and better city modelling.
Rising demand for modern UAVs by government agencies
Modern UAVs have been currently observing massive momentum across some of the developed as well as emerging economies. In fact, government agencies in these regions have been undertaking various efforts for the development and use of these across diverse sectors.
To illustrate, the Federal Aviation Administration (FAA) had in May 2016 inked the Cooperation Research and Development Agreement with Gryphon Sensors, Liteye Systems Inc., and Sensofusion. Under this pact, the organization detected unauthorized UA operations in and around the airport. These initiatives are likely to address the challenges for safety integration of UAS in the airspace.
Regulatory emphasis on use of aerial imaging in national airspace
In modern day, regulatory bodies are playing a major role in the expansion of aerial imaging business space as they have been laying much emphasis on making use of these solutions for enabling day-to-day drone operations in the national airspace. That said, increasing adoption of the drone technology by governments for myriad applications like search and rescue, security and surveillance, geospatial mapping, and resource management, are also likely to stimulate the aerial imaging market statistics in the near future.
Aerial imaging solutions in Europe’s O&G industry
The need for maintenance of pipelines, underground exploration, aerial inspection, and demand for offering visual updates about the site in the oil and gas industry has produced a spurt for aerial imaging solutions. It would be essential to note that the share of O&G sector across Europe aerial imaging market is projected to exhibit a CAGR of 10% through 2024. In August 2015, Repsol S.A made use of UAVs to inspect the flares at its Sines complex in Portugal by gaining high-quality images of the state of structures that measure more than 100m.