Global Aerial Imaging Market to Reach $3.3B by 2023

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The global aerial imaging market is expected to progress from $1.07 billion in 2014 to US$3.3 billion by 2023, expanding at a CAGR from 2015 to 2023 owing to expanding application areas, technological developments, and the increasing popularity of location based services, according to a new report by Transparency Market Research.

Aerial imaging is the procedure of taking images of the ground from the air, ideally from a camera. Some of the common platforms to capture aerial images are helicopters, multi-rotor unmanned aircraft systems, fixed-wing aircraft, dirigibles and blimps, rockets, balloons, kites, parachutes, stand-alone telescoping, and vehicle mounted poles. Aerial photography provides a cost-effective image capturing solution for volume calculations, planning purposes, and for plotting the route design. Aerial imaging also assists in renewing existing map databases.

The global aerial imaging market is expected to be propelled by factors such as the growing application of aerial imaging across various industry verticals and the untapped market. The demand for aerial imaging is expected to be the highest from the real estate industry in the years to come. However, factors such as privacy and national security concerns and operational limitations are predicted to hamper the growth of the global aerial imaging market in the next few years.

By geography, the global aerial imaging market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2014, North America accounted for a dominant share of 42% in the global aerial imaging market. The increasing application of aerial imaging in forestry and agriculture lands is predicted to propel the North America aerial imaging market in the years to come.

The demand for aerial imaging in the Middle East and Africa and Latin America is expected to rise in the next few years as well.