That is such a broad general question. It doesn't mention which satellite sensor or aerial sensor. There are various spectral and spatial resolutions on both types of sensor imagery. Here are some general difference between these two types of remotely sensed data.
Satellite Imagery: Larger foot print, consistent off nadir angle, multi-spectral
Aerial Imagery: Smaller foot print, inconsistent off nadir angle (some parts will have more shadow than the other), usually limited spectral resolution.
Due to these differences, satellite imagery are used for large scale (regional - global) analysis while aerial imagery are used for small scale (local) analysis. Also, aerial imagery might need data calibration to minimize off nadir and solar angle effects.