Home News Business Global aerial imaging market to reach $ 1,994.3 mn by 2019

Global aerial imaging market to reach $ 1,994.3 mn by 2019

US: The global market for aerial imaging is expected to reach $1,994.3 million by 2019, according to a new market report ‘Aerial Imaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019,’ published by Transparency Market Research. The market growth is driven by increased demand from applications such as natural resource management and construction & development. Real estate, urban planning and insurance are emerging as potential applications for aerial imagery and related services.

Globally, the aerial imaging market was valued at $ 869.2 million in 2012 and is predicted to grow at 12.8% CAGR from 2013 – 2019. Aerial imaging has been widely adopted across several end-use verticals such as commercial enterprises, government, civil engineering industry, forestry & agriculture, and energy sectors, among others. Among all, highest revenue share was contributed by the government sector in 2012, which together with commercial enterprises and forestry and agriculture, accounted for more than 50% of revenue share. Government organisations worldwide are progressively using aerial imagery and related services for numerous purposes such as homeland security, urban planning, energy sector management, and monitor environmental changes among others.

The aerial imaging market is concentrated with large numbers of domestic and multinational players. Renowned players such as BLOM ASA, Pictometry International Corp., and Fugro EarthData, Inc. are considered to have dominant position in the market and together accounted for more than 40% of the market share in 2012.

Source: PR Newswire