Global market growing at 13% CAGR
The global market for aerial imaging is predicted to hit $2 billion by 2019, growing at a compound annual growth rate of 13 percent, a new report from Transparency Market Research (TMR) said.
Globally, the aerial imaging market was worth $869 million in 2012 with applications for natural resource management, geospatial technologies, and construction and infrastructure development accounting for 52.2 percent of revenue.
The report said those same applications will drive growth over the next five years, while real estate, urban planning and insurance are also emerging as lucrative applications for aerial imagery, according to the report, “Aerial Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019.”
Geographically, North America is expected to remain the largest market for aerial imagery. North America and Europe had collective revenue share of 80.1 percent in 2012. Governments contributed the most to the overall value of the global aerial imaging market in 2012, and when combined with commercial enterprises and forestry and agriculture, accounted for more than 50 percent of revenue share that year.
Government applications include public security, urban planning, energy sector management, and monitoring environmental changes.
Big players in the aerial imaging industry include BLOM ASA, Pictometry International Corp., and Fugro EarthData, Inc., which together accounted for more than 40 percent of the global market share in 2012. Other vendors in the market include GeoVantage, Inc., CICADE S.A., Ofek Aerial Photography, Cooper Aerial Surveys Co., Digital Aerial Solutions, LLC, Landiscor Aerial Information, and Premier Geospatial Inc., among others.