Drones for Energy Industry Market Outlook
Drones for energy are defined as a range of services that are provided by an unmanned aerial vehicle, for line-of-sight applications, to inspect offshore platforms & refineries, and to observe ocean-going ships. They are also used for inspecting or monitoring power lines, solar panel, and wind turbine. Market Research Future (MRFR) has published a research report about the global aerospace drones for energy industry market that anticipates advancement for this market at 25.53% CAGR between 2017 and 2023. By value, the market has been figured to be worth the USD 8,3950 Mn by the end of the forecast period.
The noted market driving factor for the global drones for energy industry market is complexity in inspection & monitoring of remote and discrete systems. However, some factors that are regulating the market growth include lack of technological advancements for processing the raw data and federal regulations limiting the usage of drones.
Drones for Energy Industry Market Segmentation Analysis
The global drones for energy industry market segmentation has segmented the market into application, drone type, industry type, and region. The application-based segmentation segments this market into inspection, leak & spillage response, and security & surveillance. Based on drone type, the market has been segmented into the fixed-wing drone, hydro drone, and rotary blade drone. Regarding industry type, the market can be segmented into oil & gas, power, and renewable sources of energy.
Drones for Energy Industry Market Regional Analysis
The regional segmentation of the global aerospace drones for energy industry market segments the market into the regional markets that are known as Asia Pacific, Europe, North America, and the rest of the world (RoW). Asia Pacific region is the largest regional market in the whole world for renewable energy generation across the globe. In this region, the country-specific markets that can witness the highest growth are China, Japan, and India, followed by the remaining countries of the Asia Pacific region.
In North America, the market can grow due to technological advancement, leak & spillage detection, increase in adoption of drones for inspection, and surveillance activities. All these factors have been described majorly in the context of oil & gas and power sectors. Many significant market players are based in the United States of America (USA) and Canada. Other factors that enhance the market growth in this region are an increase in inspection, maintenance & surveillance operations of oil & gas platforms, power plants, solar plants, pipelines, and wind turbines.
Technological advancement and the presence of key market players are two factors that make Europe, another important regional market. In this region, the critical country-specific markets are France, Germany, Spain, and the United Kingdom (UK), followed by the remaining countries of Europe.
Drones for Energy Industry Market Key Players
The key players in the global drones for energy industry market include AeroVironment Inc. (USA), Aeryon Labs Plc. (UK), Ascending Technologies Inc. (Canada), Aibotix GmbH Limited (UK), DJI (China), Draganfly Innovations Inc. (USA), Drone America (USA), ING Robotic Aviation (Canada), Microdrones (Germany), and UAVision (Canada).
Latest Industry News
EOG Resources Inc. and Shell Oil Company have joined the Board of AviSight, a US-based unmanned industrial inspection and data solutions provider. 6 MAY 2019
A drone solutions company, Percepto, has secured US $15 million in series A financing in which NHN, Emerge, Spider Capital, R&R Venture Partners, and strategic investor Hyundai had participated. The cash infusion, which comes after seed rounds totaling the US $12.5 mn, has brought Percepto’s total raise to the US $27.5 million. 22 MAY 2019
API has published its Guide for Developing a UAS Program in the Oil & Natural Gas Industry. This guide can help to ensure worker and operational safety as drones are set to be introduced in the industry operations. 3 JUNE 2019
Drones Market for Energy Industry: Information by Drone Type (Fixed-Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, and Power and Renewable), by Application (Inspection and Leak and Spillage Response and Security and Surveillance), By Technology (Hardware and Software) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Global Forecast till 2025 @ https://www.marketresearchfuture.com/reports/drones-energy-industry-market-3847