Ocean View, DE -- (SBWIRE) -- 06/26/2020 -- Asia Pacific aerial imaging market is projected to register an accelerated growth at a CAGR of over 16% during the forecast period. With the emergence of low-cost alternatives for aerial imaging in the form of UAVs/drones, their adoption in the emerging economies in the region is expected to increase considerably over the coming five years. Also, with the presence of some of the leading global drone manufacturers in China, the market growth is likely to be supported by the strong sales and distribution network of these manufacturers in the Asia Pacific region.
North America is projected to account for the majority market share of around 42% by 2024. This key market positioning is attributed to the early uptake of advanced aerial imaging solutions by the government and agriculture sectors and high investments in the drone technology for the military and defense applications in the U.S. With the increasing inclination of the farmers based in the U.S. toward modern precision agriculture practices, the demand for aerial photography is likely to increase consistently over the forecast timeline.
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The aerial imaging market is projected to exhibit a robust growth with a CAGR of around 13% between 2018 and 2024. The growth can be attributed to the factors such as increasing adoption of UAVs for aerial imaging applications, rising incidents of natural disasters, technological advancements in aerial camera systems, and increasing uptake of aerial imaging platforms in the military and defense sectors for surveillance and monitoring purposes. Also, the adoption of aerial imaging platforms in the government sector for applications such as environmental studies, homeland security, research initiatives, and urban planning is witnessing a steady uptake. Moreover, with the growing popularity of smart cities, aerial photography is likely to play an important role in facilitating the improved management of urban infrastructure in a highly connected and centrally-managed ecosystem.
Aerial images are basically captured in two formats, vertical and oblique images. Vertical images are the most common types of aerial images used for aerial survey and remote sensing purposes. They are more valuable for depicting streets and location of open spaces in the surrounding area. Oblique images are more useful for capturing the appearance of buildings as they are captured from an angle and offer a better perspective. The determination of feature elevation can be more accurate using oblique images as compared to the vertical ones, acquired at the same focal length. Consequently, the uptake of oblique aerial photography is expected to increase significantly between 2018 and 2024.
The competition in the aerial imaging market is driven by technological innovations in drone technology as well as sensor technologies for facilitating the acquisition of high-level aerial images. Due to the aggressive expansion and product development initiatives undertaken by the UAV/drone manufacturers, the competition in the aerial imaging market is expected to intensify over the forecast timeline. Also, with the growing utility of aerial imaging in emerging applications, such as urban planning and disaster management, the demand for imaging services and platforms will increase considerably between 2018 and 2024. Consequently, the companies will take measures to modernize their imaging platforms and offer enhanced and affordable imaging services to their customers.
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Table of Contents (ToC) of the report:
Chapter 5. Aerial Imaging Market, By Platform
5.1. Aerial imaging market key takeaways, by platform
5.2. Fixed-wing aircraft
5.2.1. Fixed-wing aircrafts market estimates and forecast, by region, 2013-2024
5.3.1. Helicopter market estimates and forecast, by region, 2013-2024
5.4.1. UAV/drone market estimates and forecast, by region, 2013-2024
5.5. Other platforms
5.5.1. Other platforms market estimates and forecast, by region, 2013-2024
Chapter 6. Aerial Imaging market, By Imaging Type
6.1. Aerial imaging market key takeaways, by imaging type
6.2. Vertical imaging
6.2.1. Vertical imaging market estimates and forecast, by region, 2013-2024
6.3. Oblique imaging
6.3.1. Oblique imaging market estimates and forecast, by region, 2013-2024
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