Utility Drones Market – Strategy, Revenue, Opportunity, Business Segment Overview and Key Trends 2022-2030
Research Reports
Mar 08, 2022
The global utility drones market is expected to exhibit a stellar 35.42% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global Utility Drones Market is expected to reach a valuation of more than USD 630 million by 2025. The report presents a complete overview of the global utility drones market’s major drivers and restraints. The impact of the COVID-19 pandemic on the global utility drones market is also assessed in detail in the report. The report also presents a comprehensive overview of the utility drones market’s competitive landscape by profiling the major players in the global market.
Utility drones are used to monitor power generation and distribution infrastructure. They are equipped with high-resolution infrared cameras that can take highly detailed images of power generation and distribution infrastructure. This is a very important process for protecting the equipment from vandalism and natural accidents that may harm the equipment and knock out the power generation capacity. The increasing investment in power generation and distribution infrastructure from governments around the world is likely to be a major driver for the global utility drones market over the forecast period. Utility drones equipped with infrared cameras can also take pictures of overheating equipment, as the thermal signature would get registered in the infrared cameras. This makes utility drones doubly useful for power generation and distribution projects.
Developments in drone technology are also likely to be a major driver for the global utility drones market over the forecast period. Drone technology has really come along in the last few years due to growing investment from major players. The multifaceted applicability of drones has led to major investments from key players in drone technology in the last few years. As the usage of drones has grown, technological advancements have kept pace with it, delivering advanced and sophisticated versions of drones to users. This is likely to be a major driver for the global utility drones market over the forecast period.
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The increasing investment in renewable energy generation is likely to be a major driver for the global utility drones market. Renewable energy farms need more protection than conventional energy generation plants, as the energy generating equipment, i.e. solar panels or wind turbines, are usually exposed to the elements, as opposed to conventional energy generation procedures, where the equipment is housed in a building of some kind. This necessitates the use of sophisticated monitoring solutions such as utility drones.
Competitive Leaderboard:
Leading players in the global utility drones market include DJI, YUNEEC, Hemav, Asset Drone, Aerodyne Group, ULC Robotics, ABJ Drones, Terra Drone, Sky Futures, Sharper Shape Inc., Measure, SkyScape Industries, Delair, PrecisionHawk, and Cyberhawk Innovations Limited.
In May 2018, Delair signed an agreement with Sphere Drones in Australia to deliver Delair UX11 products
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global utility drones market based on end use, type, and services.
By services, the global utility drones market is segmented into point solution and end to end solutions. Of these, the end to end solution segment will lead the market over the forecast period.
By type, the global utility drones market is segmented into fixed wing and multi rotor. Of these, the multi rotor segment will dominate the market over the forecast period as these are readily available and comparatively cheaper.
By end use, the global utility drones market is segmented into renewable and conventional power. The conventional power is again segmented into generation and transmission and distribution. Of these, the conventional power segment will spearhead the market over the forecast period.
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Regional Analysis
By region, the global utility drones market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Increased investments in power infrastructure, increasing focus on renewable power generation, rising power consumption, constant investments in power infrastructure, growing need for commercial drones in the utility and power sector, advances in drone technology, and amendments in drone regulations are adding to the global utility drones market growth in the region.
In the APAC region, the global utility drones market is predicted to have healthy growth over the forecast period. Increasing private funding and investments to develop power infrastructure, and the adoption of renewable energy sources, are adding to the global utility drones market growth in the region. China and India have the utmost market share.
In Europe, the global utility drones market is predicted to have promising growth over the forecast period. Surging demand for advanced technologies for remote monitoring of utilities, adoption of remote-controlled aerial devices fitted with cameras to perform surveys for infrastructure maintenance, and large budgets to augment technology and modernization of utility infrastructure are adding to the global utility drones market growth in the region.
In the MEA, the global utility drones market is predicted to have healthy growth over the forecast period for the use of utility drones for media monitoring. The GCC will have the utmost market share.
In South America, the global utility drones market is predicted to have sound growth over the forecast period for rising expansion activities. Brazil and Argentina will have the utmost market share.
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