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Utility Drones Market Research Report - Global Forecast till 2030

Utility Drones Market Research Report: Information by Services (End-to-End Solution and Point Solution), Type (Multi-Rotor and Fixed Wing), End-Use [Conventional Power (Transmission & Distribution and Generation) and Renewable (Solar and Wind)] and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2030

ID: MRFR/E&P/6876-HCR | December 2022 | Region: Global | 111 Pages         

Utility Drones Market

Utility Drones Market size is projected to reach USD 690.2 million by 2027, with 30.58% CAGR between 2020 and 2027

Segmentation

By Services End-to-End Solution Point Solution
By Type Multi-Rotor Fixed Wing
By End-Use Conventional Power Renewable

Key Players

  • 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)

Drivers

  • Advancements in drone technology
  • Advancements in drone technology
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Utility Drones Market Scenario


Utility drones market size is projected to reach USD 690.2 million, with 30.58% CAGR between 2022 and 2030.   


Utility drones are commercially deployed unmanned aerial vehicles (UAVs). They are typically outfitted with infra-red cameras and sensors that can gather data from a variety of sources. Agriculture, construction, real estate, surveying, mapping, search and rescue, security, and other businesses use UAVs. These cameras and sensors are used by drones to take detailed images of energy infrastructure. Thermal imaging and LIDAR (Light Detection and Ranging) capabilities are also included to detect overheated power components.


With developments in drone technology and time and cost efficiency, the global utility drones market is predicted to grow rapidly over time. This increase may be seen in a variety of market segments, including end-to-end and point solutions, multi-rotor and fixed-wing, conventional and renewable power. Region-wise, North America boasts the largest utility drone market share because of increased investments in power infrastructure, rising power consumption, and a growing concentration on renewable power generation.


The major factors driving the growth of the global utility drones market include advancements in drone technology and time & cost efficiency. For instance, according to the Forbes article, more aerial imaging and mapping software firms will likely announce artificial intelligence (AI) capabilities, and there are some drone-based AI solutions for image recognition, which shows that advancements in drone technology drive the growth of the market. However, amendments in drone regulations would act a growth opportunity for the market.


Many major players such as Cyberhawk Innovations Limited (Scotland), PrecisionHawk (US), and Delair are actively focusing on signing contracts and agreements with utilities and industries to supply utility drones solutions. For instance, in May 2018, Delair signed an agreement with Sphere Drones (Australia) to sell Delair UX11 product. This has helped the company provide surveying and mapping solutions to the Australian market. However, legal regulations set by Federal Aviation Administration (FAA) is expected to restrain the growth of the global utility drones market.    


The global utility drones market has been segmented based on services, type, and end use. Based on services, the global market includes end-to-end solution and point solution. The end-to-end solution segment is expected to hold larger share during the forecast period. Based on type, the global market is segmented into multi-rotor and fixed-wing. The multi-rotor segment is expected to grow with the highest CAGR during the forecast period as multi-rotors are comparatively cheaper and readily available in the market. Based on end use, the global utility drones market has been segmented into conventional power and renewable. The conventional power is further segmented into transmission & distribution (T&D) and generation. The renewable is further segmented into solar and wind. The renewable segment is expected to hold the largest share within the global market as increasing investments in renewable energy sources to curb CO2 emissions and the growing need for access to electricity are the major factors driving the growth of the renewable segment of the global market.


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).


Industry News



  • Teledyne unveiled a new low-power, small camera platform. The smallest VGA IR core module o is included in this latest uncooled thermal camera platform, making it ideal for OEM drones, handhelds, helmet-mounted, and vehicular integration products. Its pocket-sized format features the most up-to-date Size, Weight, and Power (SWaP) optimization as well as a very high dynamic range. Furthermore, by employing powerful, user-selectable noise filtering algorithms, the cameras can achieve NETD levels as low as sub-30mK.

  • In acknowledgment of its growth potential in the hydrogen mobility business, Doosan Mobility Innovation (DMI), a market leader in industrial drones, has received roughly 27 billion won in financing from IDG Capital, Korea Investment Partners, and DS Asset Management. The funds will mostly be used to create logistics freight drones powered by hydrogen fuel cells. The DMI hydrogen drone is ideal for reconnaissance, surveillance, and monitoring because it can stay in the air for more than 2 hours and produces minimal noise and vibration.


Market Segmentation  

Utility Drones Market


The global utility drones market is expected to witness high growth during the forecast period owing to the growing demand for minimizing outages related to transmission infrastructure.


Based on region, the global utility drones market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest utility drones market share due to increased investments in power infrastructure, rising power consumption, and increasing focus on renewable power generation in the energy mix in North America.


Intended Audience



  • Manufacturers and suppliers of utility drones

  • Service providers of utility drones

  • Energy & environment associations

  • End-user industries such as power industry, solar power, and wind power

  • Government and research organizations

  • State and national regulatory authorities

  • Investment banks

  • Manufacturers’ associations

  • Institutional investors

  • Environmental research institutes



Report Scope:

Report Attribute/Metric Details
  Market Size

  • USD 690.2 Million
  • 2030 : Significant value
  •   CAGR   30.58% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   USD 8.01 Billion
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Services, Type , End-Use and Renewable
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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).
      Key Market Opportunities   Amendments in drone regulations
      Key Market Drivers

  • Advancements in drone technology
  • Time & cost efficiency
  • Advancements in drone technology


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    Frequently Asked Questions (FAQ) :

    The benefit of being able to map areas and overcome traffic aerially is estimated to create a positive scope for the growth of the market.

    A 30.58% CAGR is expected to motivate the market in the upcoming period.

    The income potential of USD 690.2 million is forecasted for the market by 2027.

    The regulations related to the airspace of various countries are estimated to restrict the market in the impending period.

    Measure (US), Sharper Shape Inc. (US), and SkyScape Industries (US) are estimated to create a positive title for market expansion in the upcoming period.