Technavio analysts forecast the global aerial imaging market to grow at a CAGR of close to 13.28% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global aerial imaging market for 2016-2020. To calculate the market size, the report considers the following:
- The retail price of aerial imagery
- The revenue generated from aerial imagery in business sectors, including oil and gas, mining, agriculture and forestry, building and infrastructure, government, sustainable energy, and military and defense
- The revenue generated from leasing equipment (drones) for aerial imagery and aerial surveying in commercial applications
Technavio ICT analysts highlight the following four factors that are contributing to the growth of the global aerial imaging market:
- High adoption in urban planning
- Rising popularity in precision agriculture
- Remote sensing and GIS in disaster management
- Low-cost sensor drone technology
Here is a look at two of those factors related to precision agriculture:
Rising Popularity In Precision Agriculture
Geospatial technologies are used in precision agriculture to map spatial variations in crop and soil conditions. They match inputs related to water, seed, and fertilizers to the variations by applying them at variable rates.
Aerial photography gathers the necessary information for crop analysis and management. The normalized difference vegetation index (NDVI) can be measured using aerial imagery, which indicates the green vegetation levels of crops. Aerial imagery can be used to monitor crops, forests, and ecosystems for subtle changes in visible and near-infrared radiations.
“Due to technological advances in aerial imagery, farmers and ranchers worldwide are showing increased interest in aerial photography services. Aerial thermal photography helps determine crop temperatures, and along with NDVI, it provides comprehensive information on plants that need to be irrigated,” says Rakesh.
Low-cost Sensor Drone Technology
Innovations in drone technology have facilitated the transition from high-cost fixed wing aircraft to cheaper and more efficient UAV LiDAR models. Low-cost UAV LiDAR systems find applications commercial, government, and environment and conservation sectors.
Inexpensive drones with advanced sensors and imaging capabilities enable precision agriculture, which helps farmers reduce crop damage and increase crop yield. Low cost of technology, along with the easy integration of multiple technologies, provides surveyors and consulting engineers a significant opportunity for development. The cost of a high-end GPS-controlled drone with a camera is around USD 6,000. Military agencies can replace older warships and aircraft with low-cost drones to handle the intelligence aspects. This replacement will help reduce costs related to upgrading obsolete war equipment.