March 03, 2020
According to the research report titled ‘Europe Aerial Imaging Market Size By Platform, Imaging Type, Application, End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024’ available with Market Study Report LLC, Europe aerial imaging market is expected to cross USD 500 million by the year 2024.
As per the report, Europe aerial imaging market is driven by increasing deployment of drone technology for disaster management and defense applications. For example, in September 2016, emergency services in Europe utilized high-tech robots and drones for rebuilding damaged towns. Robots were offered by the European Commission-run project, Tradr, to facilitate rescue efforts in affected towns. Moreover, federal agencies are promoting the adoption of drones and are investing towards the implementation of AI to advance UAV capabilities.
The report estimates that Europe aerial imaging industry from drones/UAV segment will grow at 11% CAGR over 2018-2024. The growth is anticipated to stem from the colossal adoption of these devices for capturing aerial images. Multirotor drones are projected to witness an upward trajectory in terms of adoption owing to the beneficial features such as more stability and easier control as compared to the single rotor drones.
Speaking of the application spectrum, Europe aerial imaging market size from oil & gas industry is projected to grow with a CAGR of 10% over the forecast period. The drones have found wide-ranging applications in oil & gas industries, for instance, pipelines monitoring, aerial inspection, underground exploration, and visual updates about the site. Citing an example, in August 2015, Repsol S.A. deployed UAVs to examine the flares at its Sines Complex located in Portugal. These UAVs captured high-resolution images of the state of structures, measuring over 100m.
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Among several eminent Europe aerial imaging industry participants, a few include Cyberhawk Innovations, Fugro N.V., Parrot SA, Landiscor Real Estate Mapping, Global UAV Technologies, Google, GeoVantage, Digital Aerial Solutions, Eagle View Technologies, and PrecisionHawk. Some more notable market players are Kucera International, Cooper Aerial Surveys, 3D Robotics, DroneDeploy, Hoverfly Technologies, and AeroVironment.
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