Utility Drones Market is Expected to Grow at 30.58% CAGR by 2030

Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Utility Drones Market.

Market Highlights

The global utility drones market is projected to be valued at USD 600.2 Million, with 30.58% CAGR during the forecast period, 2022–2030. Utility drones are unmanned aircraft that are used in utility industries. These drones provide services such as surveying, inspection, and maintenance of power generation and transmission and distribution systems across the world. The power components that are monitored include wind turbine farms and turbine blades, solar panel arrays, distribution and transmission cell towers, cooling towers and chimney, sub-stations, power lines, and other power distribution components.

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GLOBAL UTILITY DRONES MARKET, 2022–2030
 

In 2018, North America dominated the global utility drones market in terms of share: MRFR

The global utility drones market has been segmented into five regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to hold the largest market share in the global utility drones market during the forecast period. Continuous investments in power infrastructure, increasing power consumption, and subsequently increasing focus on renewable power generation are the key factors driving the growth of utility drones in the region. The US accounted the largest market share in North America. For instance, In the US, Federal Aviation Administration has passed a regulation for commercial use of drones in the power sector. This is increasing the demand for commercial drones in the power and utility sector in the US and other countries in North America. Utility drones can be used effectively in managing power infrastructure assets. Inspection of power infrastructure by a drone consumes very little time when compared to time consumed in manual inspection of power infrastructure, thus saving man-hour and cost. This is leading to increasing demand for drones in managing power infrastructure assets in the US.

The utility drones market in Asia-Pacific is expected to be dominated by emerging economies such as China and India. Increasing private funding and investments in the development of power infrastructure, the establishment of long transmission lines, and the adoption of renewable energy sources are the primary factors that are likely to drive the utility drones market in the region.

The utility drones market in the Middle East & Africa is dominated by GCC (Gulf Cooperation Council) countries and South Africa due to the use of utility drones for media monitoring and as a traditional solution for satellites and helicopters in the UAE. However, according to a recent report by consulting firm strategy the market for drones in the Gulf Cooperation Council is expected to reach USD 1.5 billion by 2022.

The utility drones market in South America is dominated by Brazil, followed by Argentina, due to increasing expansion activities in the region. For instance, in 2018, HEMAV (Spain) approved an international expansion plan in Brazil, consolidating its presence in Peru, Ecuador, Colombia, Chile, and Argentina.

The global utility drones market has been segmented based on services, type, end use, and region. Based on services, the global market is divided into end-to-end solution and point solution. The end-to-end solution segment is expected to dominate the global market and is likely to grow with the highest CAGR. Based on type the global market is divided into multi-rotor and fixed-wing. The multi-rotor segment is expected to grow with the highest CAGR during the forecast period. Based on end use, the global market is bifurcated into conventional power and renewable. The conventional power segment is further sub-segmented into transmission & distribution (T&D) and generation. The renewable segment is further sub-segmented into solar and wind. The renewable segment is expected to hold the largest market share during the forecast period.

The global utility drones market is expected to grow at ~ 30.58% CAGR during the forecast period.

Scope of the Report

This report provides an in-depth analysis of the global utility drones market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global utility drones market by services, type, end use, and region

Services

• End-to-End Solution


• Point Solution

Type

• Multi-Rotor


• Fixed Wing

End-Use

• Conventional Power
  
  
  
  • Transmission & Distribution
  
  
  • Generation
  
  
  
  


• Renewable
  
  
  
  • Solar
  
  
  • Wind
  
  
  
  

• 
  

  By Region

  
  


• North America 


• Asia-Pacific 


• Europe


• Middle East & Africa


• South America

Key Players

The key players operating in the global utility drones market are Cyberhawk Innovations Limited (Scotland), PrecisionHawk (US), Delair (France), SkyScape Industries (US), Measure (US), Sharper Shape Inc. (US), Sky Futures (UK), Terra Drone (Japan), ABJ Drones (US), ULC Robotics (US), Aerodyne Group (Malaysia), Asset Drone (US), Hemav (Spain), YUNEEC (US), and DJI (China).