Aerial Imaging Market to Expand at 13.4% CAGR between By 2020

A new report has been published by Transparency Market Research, titled “Aerial Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020”. TMR, a market intelligence company based in the U.S., states that the global aerial imaging market was estimated at US$0.97 billion in 2013 and is expected to reach US$2.29 billion by 2020, expanding at a 13.4% CAGR between 2014 and 2020.Aerial imaging has been popular in several end-use applications, namely natural resources management, cartography, archeology, disaster risk prevention and reduction, and forestry management. There are a number of factors fuelling the global aerial imaging market, such as rising drone/UAV technology, rising popularity of services that are location-based, and technological advancements in aerial platforms and camera systems.

 

 

On the basis of application, the aerial imaging market is segmented into natural resources management, geospatial technology, disaster response management, construction and development, conservation and research, defense and intelligence, and media and entertainment. Amongst these, the defense and intelligence segment was the largest segment in the global aerial imaging market owing to the increasing adoption rate in the government sector, rise in awareness among end users, and development of high-resolution aerial imagery from numerous suppliers.On the basis of end users, the aerial imaging market is segmented into commercial enterprises, government, military, civil engineering, energy, forestry and agriculture, and insurance. Amongst these end users, the government sector represented the biggest revenue share of 27.7% in the market in 2013.

 

Government organizations are consistently implementing aerial imagery and other similar services in demographic planning, homeland security, and land and property management for managing and monitoring environmental changes.