Growing Demand for Renewable Energy to Drive Utility Drones Market
The global utility drones market is expected to exhibit a stellar 35.42% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global utility drones market is expected to reach a valuation of more than USD 630 million by 2025.
The report presents a complete overview of the global utility drones market’s major drivers and restraints. The impact of the COVID-19 pandemic on the global utility drones market is also assessed in detail in the report. The report also presents a comprehensive overview of the utility drones market’s competitive landscape by profiling the major players in the global market.
Utility drones are used to monitor power generation and distribution infrastructure. They are equipped with high-resolution infrared cameras that can take highly detailed images of power generation and distribution infrastructure. This is a very important process for protecting the equipment from vandalism and natural accidents that may harm the equipment and knock out the power generation capacity. The increasing investment in power generation and distribution infrastructure from governments around the world is likely to be a major driver for the global utility drones market over the forecast period. Utility drones equipped with infrared cameras can also take pictures of overheating equipment, as the thermal signature would get registered in the infrared cameras. This makes utility drones doubly useful for power generation and distribution projects.
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Developments in drone technology are also likely to be a major driver for the global utility drones market over the forecast period. Drone technology has really come along in the last few years due to growing investment from major players. The multifaceted applicability of drones has led to major investments from key players in drone technology in the last few years. As the usage of drones has grown, technological advancements have kept pace with it, delivering advanced and sophisticated versions of drones to users. This is likely to be a major driver for the global utility drones market over the forecast period.
The increasing investment in renewable energy generation is likely to be a major driver for the global utility drones market. Renewable energy farms need more protection than conventional energy generation plants, as the energy generating equipment, i.e. solar panels or wind turbines, are usually exposed to the elements, as opposed to conventional energy generation procedures, where the equipment is housed in a building of some kind. This necessitates the use of sophisticated monitoring solutions such as utility drones.
- Asset Drone
- Aerodyne Group
- ULC Robotics
- ABJ Drones
- Terra Drone
- Sky Futures
- Sharper Shape Inc.
- SkyScape Industries
- Cyberhawk Innovations Limited.
In May 2018, Delair signed an agreement with Sphere Drones in Australia to deliver Delair UX11 products.
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The global utility drones market is segmented on the basis of service, type, end use, and region.
- By service, the global utility drones market is segmented into end to end solutions and point solutions. The end to end solutions segment dominates the global utility drones market due to the convenience of end to end solutions for the client. Once purchased, end to end solution providers take care of all complications for the client, making the purchase fruitful for the client.
- By type, the global utility drones market is segmented into multi-rotor and fixed-wing. The multi-rotor segment is expected to exhibit the highest growth rate over the forecast period due to the fact that multi-rotor drones are cheaper and easily available.
- By end use, the global utility drones market is segmented into conventional and renewable. The renewable segment is expected to dominate the global utility drones market over the forecast period.
North America is the largest regional market for utility drones and is likely to retain its dominance over the forecast period.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
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