The global market for aerial imaging, 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 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 said.
UAV and drone, one of the segments examined in the report, is predicted to see a CAGR of 16.3% and hit $4.6 billion in 2030, Research and Markets said. Accounting for the ongoing pandemic recovery, the fixed-wing aircraft segment is predicted to grow at a revised CAGR of 14.5%.
The aerial imaging market in the US was estimated to be worth $843.7 million in 2022.
In China, the aerial imaging market is predicted to reach $1.4 billion by 2030 with a CAGR of 17.3% between 2022 and 2030.
Japan’s aerial imaging market is expected to grow at a CAGR of 12.7% over the period, while Canada’s market is expected to grow at a CAGR of 14.5%.
In Europe, Germany’s aerial imaging market is slated to grow at a 14.6% CAGR, Research and Markets said.