Aerial imaging technology is often used in the insurance sector, especially in the aftermath of natural disasters
By Ryan Smith
The global market for aerial imaging, estimated at US$2.7 billion last year, is expected to reach a revised size of US$8.1 billion by 2030, according to a report by analytics firm Research and Markets.
The aerial imaging market is expected to grow at a compound annual growth rate (CAGR) of 14.9% between 2022 and 2030, the report says.
Aerial imaging technology is often used in the insurance industry, especially after natural disasters when it may be difficult to perform an in-person assessment of damaged properties.
UAV and drone, one of the segments analyzed in the report, is predicted to see a CAGR of 16.3% and hit US$ 4.6 billion by 2030, Research and Markets said. Accounting for the ongoing pandemic recovery, the fixed-wing aircraft segment is forecast to grow at an adjusted CAGR of 14.5%.
The aerial imaging market in the US is estimated to be worth US$ 843.7 million in 2022.
In China, the aerial imaging market is predicted to reach US$ 1.4 billion by 2030 with a CAGR of 17.3% between 2022 and 2030.
The aerial imaging market in Japan is expected to grow at a CAGR of 12.7% during the period, while the Canadian market is expected to grow at a CAGR of 14.5%.
In Europe, the aerial imaging market in Germany is set to grow at a 14.6% CAGR, Research and Markets said.
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