According to the market study by Value Market Research the Global Utility Drone Market was valued USD 135 MN (by revenue) in 2018 and is anticipated to reach USD 1,102 MN by 2025. The market is expected to showcase a CAGR of 35% between 2019 and 2025. The report provides all the latest and important market-related news defining the market growth path. The report discusses the challenges and restraints along with the competitive benchmarking of the market.
Drones, mainly used for utility inspection, survey, and asset management are called utility drones. Utility drones offer numerous advantages such as reduced inspection and operational costs, enhanced safety of workers, and reachability in dangerous locations.
The report titled "Global Utility Drone Market Report By Type (Multi Rotor And Fixed Wing), By Service (End-To-End Solution And Point Solution), By End-User (Power And Renewable) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025” will help to understand the competitive landscape, market growth forecast, company market share, opportunities and latest trend & dynamics.
The report identifies the growing need to reduce outage within the energy transmission and distribution sector as the major factor driving the market growth. Moreover, the better reachability and monitoring performance of these drones in a hazardous location is also expected to propel its demand in the power and energy sector. Additionally, rising adoption of drone technology for better safety and enhanced business operations are also further presumed to fuel the market demand in the next few years. The advancements in drone technology and amendments in drone rules and regulations is also expected to offer an immense growth opportunity to the market.
The segmentation section of the report includes type, service, end-user, and region. On the basis of type, the market is split into multi rotor and fixed wing. Multi-rotor is dominating the segment since it is a most popular type of drone and is easy to control, have the ability to hover, and can take off and land vertically. Service area comprises end-to-end solution and point solution. The end-to-end solution segment is dominating the market because it offers easy availability of expertise required to obtain accurate data on utility assets. Based on end-user, the utility drones market has been segmented into power and renewable. The power segment is expected to hold the largest market share as it helps in cutting down the operational & maintenance costs and enhanced the worker safety in dangerous areas.
Regional segmentation covers North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America region is ruling the global utility drone market owing to the rising heavy investments in power infrastructure by respective regulatory bodies. Also, increasing power consumption along with the growing focus on renewable power generation in the energy mix are again fueling industry expansion in the region.
The Report Segments Global Utility Drone Market -
Players profiled in the Report:
ABJ Drones, Aerodyne, Asset Drone, Cyberhawk, Delair, Hemav, Measure, Precisionhawk, Sharper Shape, Sky Scape, Sky-Futures, Terra Drone and ULC Robotics.
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