ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has announced the release of a report, titled “Aerial Imaging (Energy, Geospatial technology, Natural resources management, Construction, and Defense) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020”. According to the research report, the global aerial imaging market stood at US$0.9 billion in 2013 and is further expected to reach US$2.2 bn by 2020. The market is expanding at a CAGR of 13.40% between 2014 and 2020.
Development of the drone/UAV technology and technological advancements in aerial platforms and camera systems are some factors fueling the global aerial imaging market. Some of the most popular end-use industries using aerial imaging technology are media and entertainment, geospatial technology, construction and development, natural resources management, disaster response management, conservation and research, and defense and intelligence.
The defense and intelligence sector has consistently been a prime consumer of aerial imagery and geospatial data, followed by construction and development, and natural resource management as the future promising application segments of the aerial imaging industry.
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Demand for aerial imagery is expected to increase due to the availability of high-resolution aerial imagery from various suppliers and rising awareness among end users. By end-use verticals, the report describes the military, forestry and agriculture, government, commercial enterprises, civil engineering industry, energy, and insurance sectors as some of the potential segments of this market.
By geography, the aerial imaging market is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). North America is in the leading position due to the increasing demand for drone-based aerial systems and presence of numerous UAV companies.
The report covers BLOM ASA and Fugro EarthData as the two key companies in the market.
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.