Aerial imaging technologies enable taking high-resolution satellite and aerial images using cameras, sensors, and platforms like satellites, unmanned aerial vehicles (UAVs), manned aircraft, and helicopters from thousands of feet above ground. They provide bird's eye view images of infrastructure, agriculture, disaster management, defense, and mining sites. Aerial images find wide applications in monitoring crop health, mapping resources, tracking deforestation, 3D modeling, and inspecting pipelines, power lines and railroad tracks.
The global Aerial Imaging Market is estimated to be valued at US$ 3439.29 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of innovative technologies like artificial intelligence (AI), machine learning (ML), and deep learning is one of the key trends fueling the growth of the aerial imaging market. AI and ML algorithms can analyze high-resolution aerial images at scale and extract valuable insights within minutes. For example, AI tools can monitor crop fields via aerial images captured throughout the growing season and detect signs of disease, nutrient deficiencies, and pests. They also help in large-scale mapping and 3D modelling of infrastructure by processing petabytes of aerial image data. The integration of AI and computer vision is automating aerial data analysis and facilitating quicker decision making for end-use industries.
Segment Analysis
The global aerial imaging market is dominated by the agriculture segment which is expected to have a market share of over 35% in 2023. This is due to the increasing adoption of drone-based imaging solutions for monitoring crop health, detecting diseases, and analyzing soil and field conditions. Aerial images help farmers monitor their fields throughout the growing season, identify problem areas, and take preventive actions. This subsequently improves farm productivity and crop yield.
Key Takeaways
The Global Aerial Imaging Market Size is expected to witness high growth at a CAGR of 5.0% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 3439.29 Mn by 2023.
Regional analysis
The North American region is anticipated to dominate the global aerial imaging market during the forecast period. This is attributed to high agricultural output, developed infrastructure, and early adoption of advanced technologies in countries like the US and Canada. Furthermore, wide application of aerial imaging in defense, energy, and insurance sectors also contributes to the regional market growth.
Key players
Key players operating in the aerial imaging market are BASF SE, Evonik Industries AG, Clariant AG, DuPont de Nemours, Inc., Albemarle Corporation, Arkema SA, Johnson Matthey PLC, Mitsubishi Chemical Corporation, Honeywell International Inc., Shell Catalysts & Technologies, W. R. Grace & Co., Haldor Topsoe A/S, Dow Chemical Company, CRI Catalyst Company.
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