Utility Drone Market To Reach USD 1.2 Billion By 2025 | CAGR 33.1% - Forencis Research

Utility Drone Market Size, Share, Trends, Growth, Analysis, Research

Global Utility Drone Market: Key Highlights

  • According to the new market research report Utility Drone Market by Component (Hardware, Software, Service), by Type (Fixed Wing, Multi-Rotor), by Application (Inspection and Monitoring, Surveying and Mapping, Surveillance, Others), by End User (Power, Water and Wastewater Treatment, Renewable), by Region (Asia Pacific, Europe, Middle East and Africa, South America, North America) – Global Forecast (2018 to 2025)”, the global utility drone market is estimated to reach USD 1.2 Billion by 2025 at a CAGR of 33.1% during forecast period 2020-2025.
  • The increasing demand for energy, government initiatives to reduce prices of energy, technological advancements impacting the utility industry are some of the factors which are expected to drive the utility drone market during the forecasted period.
  • However, binding policies by regulating authorities are expected to restrain the market during the forecast period.

Utility Drone Market

Global Utility Drone Market: Key Market Dynamics

  • The growing demand for efficient operational activities is expected to drive the market of utility drones as the incorporation of drones in the system improves the internal processes and reduces the overall cost.
  • The binding regulations from the governing authorities may restraint the growth of the market as the policies related to the flight of the drone within the visibility limit and other specifications of the drone are very stringent.
  • The innovation in the existing functionalities of the drones may contribute to the growth of the market in the near future as more functions performed by the drones will result in less capital in the long term.
  • Cybersecurity related problems can hinder the growth of the market as the interface of the drone can be hacked due to the absence of the security system.

Global Utility Drone Market: Regional Overview

  • North America

The North American region is a dominating region in the global utility drone market. The utility providers are incorporating drones in the system at a high pace. The New Jersey Water Association uses drones for water tank conditions and coating inspection, also for the inspection and photography of the construction sites. Also, Duke Energy, a US-based electric power holding company uses drones to inspect infrared equipment and other tall structures.

  • Europe

The utility drone market is anticipated to develop considerably in the European region. This growing demand is likely to continue in the near future. Currently, these drones are used for extreme operations such as sewer inspection in Barcelona, Électricité de France a French electric utility company uses drones for the inspection of the sites where human reach is not accessible ensuring the safety of the working staff.

Global Utility Drone Market: Key Players Overview

  • Terra Drone Corporation:

Terra Drone Corporation is one of the leading drone service providers for every application like aerial survey, infrastructure inspection, drone data processing and analysis, etc. Terra Drone provides the drone-based solution for the maintenance of the power transmission and distribution equipment, provides analyzed and processed data in the form of a smart report with the highlighted area which needs immediate preventive measures.

  • Aerodyne Group:

Aerodyne Group is an international drone-based service provider. It offers an integrated aerial support system and survey-grade drones, and services for transmission tower inspection, monitoring system, damage assessment, high-resolution images and videos with sampled data amongst others. The commpany provides artificial intelligence-driven solutions for projects in the power and utility industry.

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Rep Id : EP 026

Published : 2020-01-27