Utility Drones Market Research Report

 

Utility Drones Market:

Growth opportunities in the utility drones market look promising over the next six years. This is mainly due to the increasing awareness towards the security of power supply facilities, reduced survey costs, and rising demand for renewable sources of energy.

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Utility Drones Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The augmenting awareness towards facilities of power supply security, increasing demand for renewable energy sources, and the expansion in the power sectors are the drivers accelerating the growth of the global utility drones market. Also, growth in the usage of unmanned utility drones compared to the manned aircraft utility drones because of the better aerial utility inspections, minimized service disruption, higher quality data collection, improved safety and security, decreased survey cost will further strengthen the utility drones market share.

Also, the rising incorporation of machine learning, edge computing, and artificial intelligence with drones help quickly scan thousands of images, better upfront data collection, avoid collision through on-board collision avoidance in the utility infrastructure, which will further boost the market growth. As per the International Renewable Energy Agency (IREA), the global share of renewable energy in the power sector is predicted to rise from 25% in 2017 to 85% by 2050, largely through growth in solar and wind power generation, enhanced approaches to power system planning, and regulation and public policy. This will provide enormous growth opportunities for the market.

However, stringent norms associated with the airspace across several countries will hinder market growth. For example, the US Drone Laws, by the Federal Aviation Administration (FAA), which includes flying drones at the maximum height of 400 feet without any specific authorization, registration of drone if it weighs more than 250g; not to fly in prohibited airspace, and other regulations may curb the utility drones market size. Additionally, rising concerns about terror and illegal activities carried out by UAV and limited battery backup for being in the air may further constrain the industry.

Regional Drivers

On the basis of regional coverage, North America is anticipated to witness a higher CAGR over the forecast period owing to the increasing application of drones to inspect gas pipelines, electric power transmission lines, oil pipelines, refineries, and water pipelines. Numerous U.S.-based energy companies like Southern Company, Duke Energy Corporation, SunPower Corporation, and Duke Energy use drones to examine power lines, power plants, and storm damage. The prevalence of leading players, including PrecisionHawk, ULC Robotics, and SkyScape Industries, will further propel the market growth.

Utility Drones Market’s leading Manufacturers:

  • Mitsubishi Heavy Industries, Ltd.
  • Sterblue
  • SkyScape Industries
  • Sharper Shape
  • PrecisionHawk
  • ULC Robotics
  • Cyberhawk
  • Aerodyne Group
  • Delair
  • Terra Drone Corporation

Utility Drones Market Segmentation:

Segmentation by Technology:

  • Multi Rotor
  • Fixed Wing
  • Others

Segmentation by Area of Application:

  • Power Generation
  • Renewable
  • Non-Renewable
  • Power Distribution and Transmission

Segmentation by Region:

  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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