Aerial imaging technology is often used by the insurance industry, especially after natural disasters.
By Ryan Smith
The global market for aerial imagery, estimated at $2.7 billion last year, is expected to reach a revised size of $8.1 billion by 2030, according to a report by research firm Research and Markets.
The aerial imaging market is expected to grow at a compound annual growth rate (CAGR) of 14.9% between 2022 and 2030, according to the report.
Aerial imaging technology is often used by the insurance industry, especially after natural disasters, when it can be difficult to perform in-person assessments of damaged properties.
UAVs and drones, one of the segments examined in the report, is expected to experience a CAGR of 16.3% and reach $4.6 billion by 2030. Research and Markets said. Taking into account the ongoing pandemic recovery, the fixed-wing aircraft segment is anticipated to grow at a revised CAGR of 14.5%.
The aerial imagery market in the US was estimated to be worth $843.7 million in 2022.
In China, the aerial imagery market is projected to reach $1.4 billion by 2030 with a CAGR of 17.3% between 2022 and 2030.
The Japan aerial imagery market is expected to grow at a CAGR of 12.7% during the period, while the Canada market is expected to grow at a CAGR of 14.5%.
In Europe, the German aerial imagery market is expected to grow at a CAGR of 14.6%, according to Research and Markets.
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