July 25, 2024
Aerial Imaging Market
Ict

Aerial Imaging Is Driven By Increased Adoption In Infrastructure Monitoring And Management

Aerial imaging, commonly known as aerial photography, utilizes the capture of photographs from an elevated perspective using aircraft such as airplanes and unmanned aerial vehicles. It provides high-resolution visual data by acquiring geospatial intelligence from altitudes ranging from a few meters to thousands of meters. Aerial imaging has numerous advantages over traditional ground-based surveying and mapping techniques as it allows for larger areas to be surveyed quickly at higher speeds while minimizing time and costs. The captured images provide valuable context about terrain, landscapes, infrastructure, and other physical features over expansive areas. This geospatial data is useful for various applications such as urban planning, disaster management, precision agriculture, environmental monitoring, and infrastructure inspection.

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:

One of the key trends driving growth in the aerial imaging market is the increasing adoption in infrastructure monitoring and management. Aerial imagery allows infrastructure owners and operators to closely monitor assets from a bird’s eye view. High-resolution images are useful for inspecting the condition of bridges, roads, rail lines, power transmission lines, and other physical structures over large areas. Any signs of damage, deterioration or issues can be easily identified. This helps prioritize maintenance and reduce risks of failure. The captured geospatial data also aids in planning rehabilitation, expansion or development of new infrastructure projects. With more countries focusing on modernizing their infrastructure, the importance of aerial imaging technologies for efficient monitoring and management is increasing tremendously.

Porter’s Analysis

Threat of new entrants: The aerial imaging market has moderate barriers for new entrants owing to high capital investment requirements for equipment and technology.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and price sensitivity in the market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternative components, parts, and raw material suppliers in the market.

Threat of new substitutes: Threat from substitutes is low due to lack of close substitute products and services for aerial imaging.

Competitive rivalry: Competition in the market is high due to presence of large number of players.

Key Takeaways

The Global Aerial Imaging Market Demand is expected to witness high growth. 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.

The aerial imaging market in North America is expected to hold the largest share during the forecast period. This is attributed to large-scale acceptance of aerial imagery and increasing investments to enhance precision agriculture. Asia Pacific is expected to grow at the fastest pace owing to rising construction activities and growing investments to enhance infrastructure monitoring.

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, and Sud-Chemie India Pvt. Ltd. (Clariant India Ltd.). BASF SE is one of the leading players in aerial imaging offering wide range of solutions for agriculture, environmental monitoring.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it