Drones for Oil and Gas Market Set to Soar with a Remarkable 39.1% CAGR by 2030
Research Reports
Nov 14, 2023
Drones for Oil And Gas Market Overview
Drones for Oil and Gas Market size in 2021 was estimated to be USD 6.84 billion. Drones for Oil and Gas Industry is projected to grow from USD 10.25 billion in 2022 to USD 44.60 billion by 2030 with a compound annual growth rate (CAGR) incorporated. 39.1% in the forecast period (2022 – 2030). The oil and gas industry prefers to use drones in oil and gas to get small details. These industries prefer it because of the very high resolution infrared cameras that provide accurate results.
Drones for Oil and Gas Market capture detailed images of oil and gas operations on camera. Infrared cameras have thermal imaging and light detection and ranging (LIDAR) capabilities to help inspect or capture oil and gas infrastructure such as offshore platforms, pipelines, tailings jets, oil spills and damage, and rigs. With the help of drones, these captured images are sent to the analysis process and smart preventive measures are taken based on this analysis report. Here, automated unmanned aerial vehicles (UAVs) provide high-quality aerial data for all maintenance and inspection requirements. Here, gas-powered drones are powered entirely by engines. Drones are now being used by oil and gas operators, which is accelerating the growth of the market. This is due to technological improvements, the inclusion of artificial intelligence, methane gas detection and thermal imaging. Thanks to the progress of artificial intelligence, drones can now be operated without human intervention, because sensors integrated with artificial intelligence can now easily move inside enclosed structures and are not prone to collisions with walls. As a result, this application is likely to grow and support the growth of drones in the oil and gas market.
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Segmentation
Market segmentation based on type includes hybrid and nano, fixed-wing, multi-rotor and single-rotor. In 2021, the multi-rotor segment will be in the hands of the majority.
Market segmentation on the basis of application includes inspection, security and emergency, surveying and surveying. In 2021, the surveying and mapping segment dominated the market. By region, the study provides market overviews of North America, Europe, Asia Pacific and Rest of the World. The North America region dominates the largest drones for petroleum products market share during the study period, due to the growth of oil and gas production activities and exploration investments in the region. In addition, this region contributes to the regional growth of drones in the oil and gas market due to the increasing use of drones in the oil and gas industry and increasing offshore drilling activities in the North American region. With significant market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments and collaborations with other organizations, market players are also taking various strategic steps to expand their presence. To grow and succeed in an increasingly competitive and growing market environment, drones in the oil and gas industry must provide affordable products.
Key Players:
Key Companies in the Drones for Oil and Gas market include
Cyberhawk Innovations Limited
PrecisionHawk
Delair
Airobotics
Airborne Drones
Terra Drone
Intel Corporation
AeroVironment Inc
Aerodyne Group
Sky-Futures
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Regional Analysis:
The adoption of drone technology in the oil and gas industry varies by region, influenced by regulatory frameworks, technological infrastructure, and the level of industry development.
North America: The United States and Canada have been early adopters of drone technology in the oil and gas sector. Drones are extensively used for pipeline inspections, surveillance, and environmental monitoring.
Europe: Countries in Europe, especially those with significant oil and gas operations such as Norway and the United Kingdom, have embraced drone technology for inspection and monitoring purposes.
Middle East: Given the prominence of the oil and gas industry in the Middle East, countries like Saudi Arabia and the United Arab Emirates are increasingly using drones for infrastructure inspection and surveillance.
Asia-Pacific: Growing oil and gas activities in countries like China, Australia, and India have led to an increased interest in drone applications for the industry. Drones are used for surveying, monitoring, and inspection.
Latin America: Some countries in Latin America, with notable oil and gas reserves like Brazil and Mexico, are incorporating drones into their operations for improved efficiency and safety.
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