Market Analysis
The global utility drones market size will touch USD 2.1 billion at a stellar 36.2% CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Utility drones, put simply, are unmanned aircraft which are used in utility industries. Such drones offer services like inspection, surveying, and maintenance of power generation and distribution systems across the globe.
Various factors are fuelling the global utility drones market growth. As per the recent MRFR market estimates, such factors include advances in drone technology, time and cost efficiency, amendments in drone regulations, rising industrialization, rising power infrastructure assets, growing adoption of remote-controlled aerial devices, increasing use during COVID-19 pandemic, and increasing uses of drones. Increasing use of digital communications & control systems are the latest utility drones market trends.
On the contrary, various norms and limits associated with the usage of UAV may limit the global utility drones market share over the forecast period.
Key Players
The eminent players profiled in the global utility drones market report include DJI (China), YUNEEC (US), Hemav (Spain), Asset Drone (US), Aerodyne Group (Malaysia), ULC Robotics (US), ABJ Drones (US), Terra Drone (Japan), Sky Futures (UK), Sharper Shape Inc. (US), Measure (US), SkyScape Industries (US), Delair (France), PrecisionHawk (US), and Cyberhawk Innovations Limited (Scotland), among others.
Regional Analysis
By region, the global utility drones market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Increased investments in power infrastructure, increasing focus on renewable power generation, rising power consumption, constant investments in power infrastructure, growing need for commercial drones in the utility and power sector, advances in drone technology, and amendments in drone regulations are adding to the global utility drones market growth in the region.
In the APAC region, the global utility drones market is predicted to have healthy growth over the forecast period. Increasing private funding and investments to develop power infrastructure, and the adoption of renewable energy sources, are adding to the global utility drones market growth in the region. China and India have the utmost market share.
In Europe, the global utility drones market is predicted to have promising growth over the forecast period. Surging demand for advanced technologies for remote monitoring of utilities, adoption of remote-controlled aerial devices fitted with cameras to perform surveys for infrastructure maintenance, and large budgets to augment technology and modernization of utility infrastructure are adding to the global utility drones market growth in the region.
In the MEA, the global utility drones market is predicted to have healthy growth over the forecast period for the use of utility drones for media monitoring. The GCC will have the utmost market share.
In South America, the global utility drones market is predicted to have sound growth over the forecast period for rising expansion activities. Brazil and Argentina will have the utmost market share.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global utility drones market based on end use, type, and services.
By services, the global utility drones market is segmented into point solution and end to end solutions. Of these, the end to end solution segment will lead the market over the forecast period.
By type, the global utility drones market is segmented into fixed wing and multi rotor. Of these, the multi rotor segment will dominate the market over the forecast period as these are readily available and comparatively cheaper.
By end use, the global utility drones market is segmented into renewable and conventional power. The conventional power is again segmented into generation and transmission and distribution. Of these, the conventional power segment will spearhead the market over the forecast period.
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