In order to solve the problems that scene matching cannot be applied to navigation and Inertial Navigation System (INS) pose information cannot be effectively used, a new approach based on the digital terrain elevation model was proposed to estimate the absolute position and pose for aerial vehicle. Firstly, the stereo pairs were captured by the airborne camera system and the information of flight speed was acquired by sensors; secondly, the terrain information under the vehicle was obtained by modifying the dual camera motion model; finally, a method used to match the on-board terrain elevation model data based on the rigid-body constraint of the 3D reconstruction results was proposed, which was used to estimate the position and pose of the vehicle in the world coordinate system. The simulation results demonstrate that the improved dual camera motion model achieves better precision, making the estimation of position and pose in the world coordinate system more effective and efficient.