Aerial Imaging Market : An Array of Graphics and Analysis of Major Industry Segments

The global aerial imaging market is highly fragmented in nature, finds a new report by Transparency Market Research (TMR). The top five companies, namely, Fugro N.V., NRC Group ASA, Nearmap Ltd., Google Inc., and EagleView Technologies Inc., held only 15.4% of the overall market in 2016. With a large pool of players, the market demonstrates a competitive landscape.

The leading players are focusing especially on technological improvements and integrated and joint innovation to build a new ecosystem to strengthen their presence in this market. Over the coming years, they are likely to be more involved in mergers and acquisitions for the expansion of their businesses, states the research study.

As per TMR’s estimations, the opportunity in the global market for aerial imaging is likely to expand at a CAGR of 14.60% during the period from 2017 to 2025, rising from US$1.36 bn in 2016 to US$4.58 by the end of the forecast period.

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The research report considers the commercial, civil engineering, military, forestry and agriculture, energy, insurance, and the government sectors as the key end users of aerial imaging across the world. The government sector has emerged as the leading consumer of aerial imaging technique and is expected to remain so over the forecast period.

The increasing usage of aerial imagery in various applications, such as homeland security, improvement of town planning, energy sector exploration, and monitoring and management of environmental changes, is the key factor behind the dominance of this segment. The commercial and the forestry and agriculture sectors are also expected to witness a high-paced adoption of aerial imaging in the near future.

Geographically, the report segments the worldwide aerial imaging into North America, the Middle East and Africa, Europe, Asia Pacific, and South America. North America led this market in 2016, with US$575.9 bn in revenues. Researchers expect this regional market to continue to lead over the next few years on the grounds of the rising adoption of aerial photography in the agriculture and forestry industry.

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The rising advancements in automated drone technology and the increasing number of merger and acquisitions among key player in this region are also projected to boost the North America market for aerial imaging in the years to come, reports the study.

The increasing advancements in drone/UAV technology and the rising popularity of location-based services are also anticipated to propel this market in the near future. However, the growing concerns over privacy, public safety, and national security may limit the adoption of aerial imaging, impacting the market’s growth over the forecast period, notes the study.

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