Drone Technology Trend Escalating Aerial Imaging Demand in Europe:
Europe is one of the leading advocates in technology advancements and scientific researches in recent times. The latest developments is the drone technology to assist and aid several industrial as well as defense purposes related to monitoring and inspection. The Europe Aerial Imaging Market is largely benefited by these developments as the drone technology enables a promising market for indigenous as well as foreign market players. Also termed as unmanned aerial vehicles (UAVs), drones enhance agricultural, transport, and military and defense capabilities and create a new scope of opportunities in these fields. Furthermore, in commercial utilization, drone technology largely benefits the construction and real estate sector. It also offers a faster and autonomous solution for inspection and detection in remote places without human interference. The drone market is projected to expand and acquire an output of nearly $10.98 billion by 2035 and $16.46 billion by 2050. This statistic reflects the huge benefit that the Europe aerial imaging market will leverage from the increasing demand for drones in the forthcoming years. With the significant potential to emerge as an imperative market leader in the drone technology application, the major applicationis in commercial and government businesses in Europe. Moreover, the drone is also used for residential utilization such as photography in celebrations, moving halls, and many more. The growing popularity and adoption of the drone in Europe are boosting the domestic aerial imaging market size in recent times. Consequently, the Europe aerial imaging market acquired revenue of $310 million in FY 2018. Also, with incrementing demand for this sector, the Europe aerial imaging market is anticipated to grow at a 9.7% CAGR during the forecast period of 2019-2025.
The construction sector remains one of the most profited industries which is experiencing a huge scope of growth opportunity in the past decades. The collaboration of drone technology with civil engineering offers several real-time advantages to end-use customers. As the most important tool of communication and surveillance, drone facilitates aerial imaging of remote sections of the construction area. Furthermore, the drone also enables the real-time site-seeing capability in the real estate sector by capturing better photographs and videos. As a result, this helps improve the marketing of properties and successfully triggers clients’ attention with unique imaging sources. The Germany construction sector gained a total profit of $233.6 billion as of 2016. This profit was contributed by real estate activities, construction activities, and architectural, engineering activities, and others.
Besides, the Eurostat Survey on real estate activities highlights a steady growth and profit of the real estate activities in the European Union. It shows more than 70% profit share by renting and operating real estate properties and more than 20% profit generation by contractual real estate activities in 2016. Accordingly, this positively affected the aerial imaging market in this region since real estate activities rely heavily on drone technology. Also, owing to the huge application of aerial imaging in real estate and construction activities, this segment will increase at a robust CAGR of 14.87% through to 2025.
=> Heavy Utilization in Offshore Wind Farms:
Remote monitoring combined with advanced sensors technology is a breakthrough advancement triggering the interest of several industries across the world. Giant offshore wind farms require regular asset management and inspection for efficient functioning and higher productivity. Concurrently, drone aerial imaging and sensors technology aids wind-turbine surveillance with automated signaling about system and machine failure. Resultantly, it reduces the additional expenditure on manual processes thereby boosting the overall economic output. Currently, European offshore wind farms are generating huge economic profit. It is also likely to expand in the next few years owing to the high proclivity towards renewable energy production such as wind energy. Nearly 200 wind turbines are fully grid and 149 turbines were built in eight wind farms in Europe in 2018. This signifies the potential demand for drone technology for turbine maintenance activities in this region. Significantly, the demand for UAVs will elevate in the forecasted years which will also uplift the total Europe aerial imaging market size.
Among other countries in the EU, the United Kingdom dominates the domestic aerial imaging market. The UK contributed a regional share of 18.85% to the Europe aerial imaging market in 2018 impelled by a large base of offshore wind farms and construction activities. Construction activities in the year 2017 in the UK generated an output of $120.2 billion. This revenue equals a 6.2% increase than the previous year. Concurrently, this shows the scope for the domestic aerial imaging market growth in this region owing to the development in the construction sector. Additionally, the UK exceeds the number of offshore wind farms in the EU region, and its offshore wind projects account for 9 farms, 169 grid connection wind turbines, and 58 turbines erected during June 2018. Resultantly, this large scale construction of offshore wind farms is likely to generate huge demand for aerial drone for aerial filming in the forthcoming years in the UK.
Huge Base of Meteorology and Oceanography Researches:
With ample scope of application in cartography, photogrammetric surveys, topographical analysis, aerial archaeology, and environmental inspection, aerial imaging is gaining huge applications in modern meteorology and oceanography. Europe has one of the largest bases of meteorology and oceanography institutions and organizations. Significantly, it depends largely on aerial photogrammetry and aerial surveys to aid and monitor forest activities, geographical mapping, and land surface climatology. Some of the organizations utilizing satellite imaging and aerial drone technology in Europe includes Norwegian Meteorological Institute, Royal Netherlands Meteorological Institute, Italian Meteorological Service, Central Institution for Meteorology and Geodynamics, and others. Furthermore, there is a wide application of satellite photography and UAVs in oceanography to monitor sea surface temperature and the study of patterns in water circulation. Besides, Europe has a huge base of oceanography organizations and institutions. These include the National Oceanography Centre, the European Marine Board, the Leibniz Centre for Tropical Marine Research, the French Research Institute for Exploitation of the Sea, and many others. Consequently, there is a huge requirement for aerial imaging and satellite imaging in Europe marked by the dependency on research activities. As a result, this will significantly upheave the Europe aerial imaging market growth and boost the economic output in the forecasted years.
Major Companies Driving the Europe Aerial Imaging Market Demand:
The key players acquiring huge profits in the Europe Aerial Imaging market include Fugro, Parrot, UAV Technologies, Alphabet, GeoVantage, Eagle View Technologies, CyberHawk, Verisk, AeroVironment, Geofly, Terradrone, and others. With massive investment in R&D activities, they generate huge end-user demand. Also, they contribute colossally to the Europe aerial imaging market share.