Drones for Oil and Gas Market Size were valued at USD 14.3273 Billion in 2023. The Drones for Oil and Gas industry are projected to grow from USD 19.9292743 Billion in 2024 to USD 279.324174935292 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 39.1% during the forecast period (2024 - 2030).
The oil and gas industries prefer to use drones for oil and gas to capture the minute details. These industries prefer it because of its infrared cameras of very high resolution that give an accurate results. Detailed images of oil and gas activities have been captured in the camera by the oil and gas drones. The infra-red cameras have thermal imaging capabilities and LIDAR (Light Detection and Ranging) capabilities that are helpful to inspect or capture the infrastructure of the oil and gas such as offshore platforms, pipelines, tailing ponds, oil spills & damage, and rigs. Through the help of drones, these captured images are sent to the analysis process and, based on this analysis report, preventative actions are taken wisely. In this, automated drones (UAVs) offer high-quality aerial data for all maintenance and inspection requirements. Here, gas-operated drones operate completely through engines.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Drones are now being used by oil and gas operators, which will accelerate market growth. This is due to technology improvements, the incorporation of AI, methane gas detection, and thermal imaging. As a result of advances in artificial intelligence, drones can now be operated without the need for human intervention because sensors with AI integration are now easily capable of moving inside closed structures and will not be susceptible to wall collisions. As a result, this application will likely grow and support the growth of drones for oil and gas market.
The market segmentation, based on type, includes Hybrid and nano, Fixed-wing, Multi-rotor, and Single rotor. The Multi-rotor segment holds the majority share in 2021 of the Drones for Oil and Gas revenue. Due to its being readily available in the market and comparatively cheaper.
Based on Application, the market segmentation includes Inspection, Security & emergency response, Surveying & mapping. The Surveying & mapping segment dominated the market in 2021. This segment enhances the growth of the market due to the analysis of reservoirs and the developmental growth in the exploration of unconventional and conventional reserves.
Figure 2 Drones for Oil and Gas Market, by Application, 2021 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region is holding the dominant position in generating the largest drones for oil and gas market share for the research period due to increasing production activities in oil and gas in this region and rising investments in exploration. Moreover, this region is enhancing the regional growth of drones for the oil and gas market due to the growing usage of drones in the oil and gas industry and the growing offshore drilling activities in the North American region.
Figure 3 Drones For Oil And Gas Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Drones for Oil and Gas industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Drones for Oil and Gas industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Delair, Airobotics, Airborne Drones, Terra Drone, Intel Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Delair is a startup that creates visual intelligence solutions to help businesses collect, manage, and evaluate their assets. Its portfolio integrates hardware for unmanned aerial vehicles (UAVs) with the industry's platform for data management and analytics. The mining, construction, agricultural, oil and gas, utilities, and transportation industries are all served by the company.
Also, Airobotics, which was launched in 2014, offers drone automation systems for airborne data collecting. It provides drones for surveying, mapping, inspections, and other purposes. Seaports, industrial facilities, and the mining industry are all served by the firm.
In November 2022: AIROBOTICS Ltd announced that it would provide further drone equipment and services to a UAE government body. This is the next phase in that government entity's broader fleet deployment to substantially implement Airobotics' Optimus Urban Drone Infrastructure.
In October 2022: Airobotics Ltd. has announced the acquisition of Iron-Drone assets to provide counter-drone capabilities through its Optimus system.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 14.3273 Billion |
| Market Size 2024 | USD 19.9292743 Billion |
| Market Size 2030 | USD 279.324174935292 Billion |
| Compound Annual Growth Rate (CAGR) | 39.1% (2024-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Cyberhawk Innovations Limited, PrecisionHawk, Delair, Airobotics, Airborne Drones, Terra Drone, Intel Corporation, AeroVironment Inc, Aerodyne Group, Sky-Futures |
| Key Market Opportunities | Amendments in drone regulations |
| Key Market Dynamics | Increasing investment in offshore exploration Rising investment in offshore pipeline infrastructure |
Frequently Asked Questions (FAQ) :
The Drones for Oil and Gas market size was valued at USD 14.3273 Billion in 2023.
The market is projected to grow at a CAGR of 39.1% during the forecast period, 2024-2030.
North America had the largest share of the Drones for Oil and Gas market.
The key players in the market are Cyberhawk Innovations Limited, PrecisionHawk, Delair, Airobotics, Airborne Drones, Terra Drone, Intel Corporation, AeroVironment Inc, Aerodyne Group, and Sky-Futures.
The Multi-rotor segment Drones for Oil and Gas category dominated the market in 2023.
Inspection for Oil and Gas had the largest share in the market for Drones for Oil and Gas.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
