The global aerial imaging market was valued at USD 5.88 billion in 2021 and is expected to grow significantly, reaching USD 36.70 billion by 2029. This growth represents a compound annual growth rate (CAGR) of 25.44% from 2022 to 2029, according to a report by Fortune Business Insights titled “Aerial Imaging Market, 2022-2029.”
Informational Source:
https://www.fortunebusinessinsights.com/industry-reports/aerial-imaging-market-100069
Key Players in the Market
The report highlights several major companies in the aerial imaging sector, including:
- Nearmap Inc. (U.S.)
- EagleView Technologies Inc. (U.S.)
- Cooper Aerial Surveys Co. (U.S.)
- Vexcel Imaging Inc. (U.S.)
- Fugro N.V. (Netherlands)
- AgEagle Aerial Systems Inc. (U.S.)
- Dronegenuity Inc. (U.S.)
- Ceres Imaging Inc. (U.S.)
- Geovantage Inc. (U.S.)
- Dronedeploy Inc. (U.S.)
Market Segmentation
The aerial imaging market is categorized based on camera orientation into vertical and oblique images. The oblique segment currently holds a larger market share and is expected to grow at the fastest rate during the forecast period. Within the oblique category, the low oblique segment is projected to see remarkable growth, driven by rising demand in real estate and other applications that benefit from clear visual representations of locations.
Government Use Driving Growth
The market is also segmented by end-use, including government, defense, forestry, agriculture, and others such as infrastructure and media. The government segment is anticipated to grow at the highest rate, fueled by increasing adoption of aerial imaging for various applications.
Regional Insights
North America led the aerial imaging market in 2021 and is expected to maintain a strong presence, benefiting from a robust economy and significant industry activity. Europe is also projected to experience moderate growth, especially in real estate and infrastructure, thanks to the use of drones in agriculture and the presence of major manufacturers.
Competitive Landscape
Companies in the aerial imaging market are employing various strategies to enhance growth, including securing multimillion-dollar contracts with government entities. Such partnerships help boost revenue and expand market reach.
Key Industry Development
In June 2022, Fugro N.V. was awarded a five-year contract by Energinetor to collect aerial and lidar imagery data for power transmission networks, using a lightweight aircraft equipped with advanced scanning technology.
