Aerial Imaging Market Analysis | Coherent Market Insights

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2. AERIAL IMAGING MARKET ANALYSIS • Aerial Imaging Market, By Application (Energy, Geospatial Technology, Natural Resources Management, Construction & Development, Disaster Response Management, Defense & Intelligence, Conservation & Research and Media & Entertainment), By End-use Industry (Government, Commercial Enterprises, Civil Engineering Industry, Military, Forestry & Agriculture, Energy Sector, Insurance),and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 • The global aerial imaging market was valued for US$ 2,010.1 Mn in 2019 is expected to exhibit a CAGR of 14.6 % during the forecast period.

3. Market Drivers • Growing number of applications in different sectors are expected to drive growth of the global Aerial Imaging Marketduring the forecast period Increasing use of aerial imagery in number of sectors is the major driver for the market growth. Aerial imaging has been used in disaster risk operation, archeology, cartography, journalism, defense and security, construction and development, tourism, and intelligence surveillance and reconnaissance (ISR). Furthermore, aerial imaging offers a variety of ground-based applications. For instance, it is helpful for farmers to monitor crops and identify problems such as blight and deploy suitable remedies. Aerial imagery is also used by many insurance companies in order to verify damage assessment and claims after hurricanes, floods and other disasters. Moreover, innovations in unnamed aerial vehicles (UAV) are expected to support the global aerial imaging market growth in the near future.

4. Technological advancements in UAV or drone technology are expected to propel the global aerial imaging market growth over the forecast period In the recent past, the commercial drone sector has registered significant changes in terms of technological advancements. The regulatory authorities have taken ample efforts to regulate the use of UAVs to ensure the safety measures are in the place. There is constant demand for commercial drones for the use in various sectors including agriculture, defense, filming, and weather monitoring. Currently, the companies are focused on creating applications and software to make the safer use of drones, which will lead to normalization of drones within mainstream society. For instance, Snapdragon Flight from Qualcomm Technologies is a software developed to provide drones with the intelligence to perceive objects within their flight path for much safer navigation. Moreover, a variety of applications offered by drones has compelled enterprises to come up with insightful changes new long-endurance UAV technology, which in turn, is expected to boost the global aerial imaging market growth over the forecast period.

5. North America region dominated the global aerial imaging market in 2019, accounting for 43.6% share in terms of value, followed by Europe and Asia-Pacific, respectively

6. Market Restraints • Concerns regarding public and national security are expected to hinder the global aerial imaging market growth over the forecast period Although drones or unmanned aerial vehicles are meant for beneficial commercial applications, the images captured can be used for improper means. Potential criminals may conduct virtual surveillance of banks, government buildings, parks, or schools using online aerial and satellite images. In fact, the national security could also be compromised. For instance, in January 2007, aerial footage displayed by Google Earth was used by terrorists who attacked British bases in Basra, Iraq, to pinpoint their attacks. If adequate safety measures are not taken, lack of proper security and privacy issues are expected to hinder the market growth over the forecast period.

7. Unhelpful weather conditions are expected to restrain growth of the global aerial imaging market during the forecast period Adverse weather conditions are one of the major hurdles for adoption of aerial imaging, as it requires clear visibility and plenty of light. For the same reasons, aerial imaging is not ideal at night and in diminished light. Usually, photographs taken for marketing purposes require perfect weather conditions, such as a clear blue sky, bright sunlight, fluffy white clouds, etc., in order to produce vibrant effects and colors. Thus, these factors are expected to hamper the market growth over the forecast period.

8. Market Opportunities • Growing demand for aerial imaging from archeology sector is expected to present lucrative growth opportunities The demand for aerial imaging has increased significantly in the recent past from the archeology sector. Aerial imaging offers enhanced insight for understanding archeological landscapes, as it reveals some of the features which are too large, too discontinuous or too faint to be identified at ground level. This situation is typical in case of earthworks, crop marks, soil marks or parch marks. Furthermore, aerial imagery is apt for tracking features and locating monuments, especially for those who are not visible at ground level and those who are under the soil cannot be seen on a field walk.

9. Increasing demand from the real estate industry is expected to provide major business opportunities Aerial imaging is being increasingly implemented in real estate and construction industry for better overview of a property and the surrounding area. Standalone images of a property have become outdated in the recent past since drones and UAVs deliver better results. Moreover, the real estate sector in Asia and Africa is booming, thus there is a significant demand for aerial imaging. Property owners their property’s profile by using aerial imaging to improve its market demand. Furthermore, it is cost-effective and creative solution for potential buyers.

10. Market Trends • Personal aerial mapping system (PAMS) Personal aerial mapping system is a package of hardware and software, which enables an operator to perform aerial mapping and make survey of small areas. It processes superior 3-D surface height models and true orthophotos, or an overview map in the field. PAMS can be operated by a single user since it offers quick and easy functionality, unlike conventional methods. This eventually saves money and time. Furthermore, PAMS offers key advantages over conventional aerial imagery such as it operates below cloud coverage, which makes it less dependent on weather conditions. In fact, it can easily be loaded in a passenger airplane as luggage or in a small car. • Aerial archeology and 360-degree panoramas The aerial imagery of archeological sites has improved significantly, enabling thorough study of ancient landscapes and historical sites. During the aerial archeological survey, a vertical or oblique aerial image is capture to better understand the landscape. For instance, aerial imaging has been used to find Iron Age and Roman sites in Britain, Mayan ruins in Belize and Nazca lines in Peru. Moreover, different ground levels, view of frost during winter, slight differences in soil color have increased the demand for aerial imagery. Aerial imaging also provides 360-degree panoramic view of historical places such as TajMahal in India, Great Pyramids of Giza in Egypt and Roman Colosseum.

11. Segment information: • In global aerial imaging market, by application segment, Defense & Intelligence sub-segment dominated the global market in 2019, accounting for 20.3% share in terms of value.

12. Competitive Landscape • Key players operating in the global aerial imaging market are Google, Inc., Kucera International, Inc., NRC Group ASA, GeoVantage, Inc., Fugro N.V., Landiscor Real Estate Mapping, Digital Aerial Solutions, LLC, Cooper Aerial Surveys Co., Nearmap Ltd, and EagleView Technologies, Inc.

13. Key Developments • Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in December 2019, Nearmap Ltd., an Australia-based aerial mapping company, acquired Pushpin, a U.S.-based company, for US$ 3.5 million. • Major companies are involved in mergers and acquisitions, in order to enhance their market presence. For instance, in December 2018, EagleView Technologies Inc. acquired Spookfish, an Australia-based aerial imaging company.

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