Pune, India, Oct. 11, 2022 (GLOBE NEWSWIRE) — The world drone surveillance market size for energy and has been $118.8 million in 2020. The market is expected to grow from $142.0 million in 2021 for $476.5 million in 2028 at a CAGR of 18.9% over the period 2021-2028. This information is provided by Fortune Business Insight™in its report, entitled, “Energy and Power Drone Surveillance Market, 2021-2028.”
According to our researchers, various advantages of drone inspection over traditional helicopter surveillance procedures have enabled its adoption for many applications. This should strengthen its demand over the next few years.
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List of Key Players Covered in the Drone Surveillance Market Report
- Aerodyne Group (Malaysia)
- Aesthetix Global (UAE)
- Airobotics Ltd. (Israel)
- Azure Drone SAS (France)
- BAE Systems Inc. (UK)
- Cyberhawk Innovations Limited (UK)
- Martek Aviation (UK)
- Mistras Group (USA)
- Percepto (Israel)
- SEIKEY Srl (Italy)
- Sky-Futures Ltd (UK)
- Sphere Drones (Australia)
- Terra Drone Corp. (Japan)
- Viper Drones (USA)
- Avitas Systems, Inc. (USA)
- Australian UAV Pty Ltd (Australia)
- Qualcomm Technologies (USA)
- Texo DSI (United Kingdom)
Report Scope and Segmentation:
|2028 value projection||$476.5 million|
|Number of pages||240|
|Segments Covered||By type, by component, by application|
|Drone Surveillance Market Growth Drivers||Growing Quantity of Wind Turbines to Drive Market Growth|
Browse Detailed Abstract of Research Report with TOC:
We provide our reports which are conducted with a comprehensive review approach that mainly focuses on providing accurate material. Our researchers have applied a data triangulation method which further helps us to come up with reliable estimates and accurately test the overall market dynamics. Additionally, our analysts have been admitted to numerous international and regional funded registries to provide up-to-date material so that stakeholders and professionals only invest in critical areas.
Growing use of multirotor drones for rig inspection to drive market growth
Based on type: Multirotor, fixed-wing, hybrid
Based on the application: pipeline monitoring, inspection, offshore platform inspection, wind turbine inspection, power station inspection, solar panel inspection
Geographically: North America, Europe, Asia-Pacific, Middle East, Africa, Latin America
Drivers and Constraints
Growing Quantity of Wind Turbines to Drive Market Growth
The growing number of new wind turbine installations in North America and Europe is expected to drive the market growth over the forecast period. For example, in 2018, Europe would have installed 409 offshore wind turbines. Thanks to this new positioning of wind turbines, Europe now has a total installed offshore wind capacity of 18,499 MW. Of this total capacity, the United Kingdom recorded a share of 44%. These aspects are expected to support the growth of the energy and power drone monitoring market over the forecast period.
However, lack of skilled drone pilots may hamper the growth of the market.
North America dominates the global drone surveillance market
North America dominates the drone surveillance market share for energy and electricity. This dominance is attributed to the massive adoption of drone technology in the United States for pipeline survey and monitoring applications.
The market in Europe recorded the second largest share in the reference year due to the increased installation of wind turbines in France.
The Asia-Pacific region is expected to show the fastest growth in the market over the forecast period. This growth is attributed to the increasing number of unmanned aerial vehicle (UAV) service providers in emerging countries like China and India.
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Qualitative information
- Impact of COVID-19 on the Drone Surveillance Market for Energy and Electricity
- Supply chain challenges
- Measures taken by industry/government/business to overcome the impact
- Key Industry Developments in Response to COVID-19
- Potential opportunities due to the COVID-19 outbreak
Inventive product launch statements by key players to boost market growth
The fundamental players present in the market adopt various tactics to strengthen their position in the market as dominant companies. One such crucial approach is to recruit companies to increase brand value among users. Another vital strategy is to intermittently launch breakthrough products with focused research of the market as well as its target audience.
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August 2021- Qualcomm Technologies, a forerunner in developing active breakthroughs in power robotics, drone platforms, low-power computing, and embedded camera systems with AI and long-range connectivity like 5G and Wi-Fi 6.
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