Utility Drones Market

SKU: DMICT570 | Last Updated On: Oct 04 2022 | Available Formats

> Global Utility Drones Market Expected to reach at a high CAGR by 2029: DataM Intelligence

Global Utility Drones Market is segmented By Type (Rotary Wing, Fixed Wing), By End-Users (Power, Renewable Energy, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

 

Market Overview

[195 Pages Report] The Global Utility Drones Market is expected to grow at a high CAGR during the forecasting period (2022-2029)

  • Utility Drones are uncrewed aerial vehicles that are operated by a ground-based human controller through a system of communications between the drone and the operator.

  • Utility drones are known to collect data and relevant information through the aerial survey of designated workplaces or areas of interest, often through the capture of photographic evidence.

  • The data can also be stored in memory devices or cloud storage for reviewing at a later stage.

  • The global utility drones market was worth YY million in 2021 and is forecasted to reach YY million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).

Utility Drones Market Scope

Metrics

Details

Market CAGR

High

Segments Covered

By Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Dynamics

  • The ease of reachability offered by utility drones in inaccessible and hazardous locations has hugely influenced the rise in the application of utility drones, coupled with the time and cost-efficiency benefits provided by the use of unmanned drones.

  • The increase in fatalities during the physical inspection of energy and power utility facilities was a growing concern, which is easily mitigated by the adoption of utility drones for inspection and maintenance jobs, which also helps in completing the work in an efficient and timely manner.

  • The utility drone market is also buoyed by the advancement of technologies in the field, with significant companies focused on product innovation as part of their business expansion strategy.

  • For instance, in July 2018, 3DR announced the introduction of structurally-detailed thermal imagery on Site Scan, the drone software platform to be integrated with the DJI M210 dual gimbal utility drone.

Market Restraints

  • The lack of a robust regulatory framework in place might result in legal restrictions concerning the operation of utility drones in a particular airspace.

  • The federal regulatory agencies have not been able to keep up with the rapidly improving developments of the utility drone sector, limiting the efforts of the utilization of end-products by commercial organizations.

  • The vulnerability and confidentiality of the information captured by drones during the survey is also a matter of concern, as there exists a risk of data manipulation or similar cyber threats by external agents.

  • The introduction and amendments of new regulations and laws that allow the legalization of Beyond Visual Line-Of-Sight (BVLOS) flights will present broader opportunities for market expansion to manufacturers and suppliers alike, resulting in the growth of the market.

Market Segmentation

  • The global utility drone market is segmented by type into the rotary-wing (multi-rotor) and fixed-wing. The rotary-wing utility drones hold a significant utility drone market share owing to the widespread adoption of multi-rotor drones in the inspection of wind turbines and boilers, as the end products are relatively cheap and readily available.

  • The fixed-wing utility drones are also expected to witness stable market growth as the drones offer better aerial and flight control.

  • By end-user type, the market is further categorized into power (transmission & distribution), renewable energy, and others.

  • The power sector is the leading end-user segment as the industry employs the use of utility drones for the inspection of transmission lines and distribution towers.

  • Utility drones eliminate the need of maintaining a larger workforce and complete the investigation in an efficient and timely manner than a field crew on foot.

  • Utility companies are thus increasingly looking into the application of utility drones as alternate options for maintenance and inspection.

  • For instance, in July 2018, Italy-based Snam S.p.A. announced that the company is putting to trial a Beyond Visual Line-Of-Sight (BVLOS) utility drone to scout a 20 km stretch of gas pipeline in the Apennine hills around Genoa.

Geographical Share

  • The global utility drone market is segmented geographically by region into North America, South America, Europe, Asia-Pacific, and the Rest of the World (RoW).

  • Asia-Pacific is the leading regional segment in the Utility Drones market. The increasing private funding and investments in the development of power infrastructure, the establishment of long transmission lines, and the adoption of renewable energy sources are the primary factors that are positively influencing the utility drone market in the region.

  • The key market players are also focusing on the expansion of business search in the area to consolidate the global market position.

  • For instance, in April 2018, Airbus SE announced the launch of its Airbus Aerial Asia operations, based in Singapore in a transparent attempt of expanding the company’s utility drone business to the regional Asia-Pacific market.

Companies

  • The major players in the global utility drone market include Lockheed Martin Corporation, SZ DJI Technology Co., Ltd., Parrot Drones SAS, Yuneec International Co. Ltd., Kespry Inc., and Delair-Tech SAS. The Utility Drones market is highly competitive, with key market players focused on the launch of innovative products and the expansion of market reach to maintain a competitive edge over others.

  • For instance, in October 2018, SZ DJI Technology Co. announced the global rollout of the Phantom 4 RTK, a high-precision aerial survey drone that combines centimeter-level navigation and positioning with a high-performance imaging system to improve survey efficiency and accuracy, reducing operational difficulty and cost. In April 2018, Airbus SE announced the launch of an advanced indoor inspection drone to reduce aircraft inspection times and improve the efficiency of the procedure.

The market players 

  • Aeryon Labs Inc.

  • Cyberhawk Innovations Limited

  • Delair-Tech SAS

  • EHang, Inc.

  • Insitu, Inc.

  • Kespry Inc.

  • Lockheed Martin Corporation

  • Parrot Drones SAS

  • SZ DJI Technology Co., Ltd.

  • Yuneec International Co. Ltd.

Report Takeaways

  • The rotary-wing utility drones are the leading segment owing to the widespread adoption of multi-rotor drones in the inspection of wind turbines and boilers, as the end products are relatively cheap and readily available.

  • The region of Asia-Pacific is the market leader by geography owing to an increase in private funding and investments in the development of power infrastructure, the establishment of long transmission lines, and the adoption of renewable energy sources

  • The companies are focused on the expansion of their global footprint by the commercial launch of innovative products and related drone software development. For instance, in February 2018, Lockheed Martin Corporation announced the start of a drone control software program that would enable the control of a utility drone from anywhere on the planet.

The scope of the Report

  • The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Product Benchmarking, and company profiles.

  • Utility Drones Market is segmented by type into the rotary-wing (multi-rotor) and fixed-wing. By end-users, the global Utility Drones market is segmented into power (transmission & distribution), renewable energy, and others.

  • Geographically, the market is segmented into North America, South America, Europe, Asia Pacific, and the Rest of the World.

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FAQ

What is the Growth Rate of the Utility Drones Market?

Grow at a high CAGR during the forecasting period (2022-2029).

Which Companies Are Included in the Utility Drones Market?

Aeryon Labs Inc., Cyberhawk Innovations Limited, Delair-Tech SAS, EHang, Inc., Insitu, Inc., Kespry Inc., Lockheed Martin Corporation, Parrot Drones SAS, SZ DJI Technology Co., Ltd., Yuneec International Co. Ltd.

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