Press release
Inspection Drones Market : Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2027
Inspection Drones Market
According to a new research report pertaining to the inspection drone market, published by Transparency Market Research the global inspection drone market is expected to reach a value of ~ US$ 32 Bn by 2027, expanding at a CAGR of ~ 23% from 2019 to 2027. According to the report, the global market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.
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Rise in Demand for Inspection Drones in Oil & Gas Industry
Inspection drones are part of the large shift toward the automation of tasks in the oil & gas industry. Different end-use industries, including oil & gas, are increasingly using inspection drones for a wide variety of applications. Inspection drones can be used on any part of a platform, wherein, inspections typically require scaffolding or rope access.
Moreover, advanced drone technology is helping end-use industries save on costs and time, while improving efficiency and safety to optimize production. Increasing investments and rising demand for inspection drones in the oil & gas industry are expected to drive the global inspection drone market during the forecast period.
Inspection drones can collect data by using various sensors and thermal cameras. Inspection drones efficiently eliminate delays in human-conducted inspections and the time spent attending to unnecessary accidents. Across the globe, inspection drones are used to carry out offshore and onshore oil derrick inspections, vertical structure inspections, flare stack inspections, oil spill detections, offshore inspections, tailings pond inspections, monitoring of gas emissions, and damage assessment. Rising investments toward the expansion and modernization of the oil & gas industry are expected to drive the market for inspection drones during the forecast period.
Military & Defense to Account for a Leading Share of Global Inspection Drone Market
The report offers detailed segmentation of the global inspection drone market in terms of component (mainframes, brushless motors & electronic speed controllers (ESC), transmitters & receivers, flight controllers, and others), sales channel (online and offline), application (oil & gas pipeline inspection, solar panels, power line and windmill inspection, critical infrastructure inspection, railways, roadways and bridge inspection, border security, and others), and end-use industry (oil, gas and petroleum, energy & utilities, military & defense, mining & construction, transportation, and others). The global inspection drone market has also been segmented based on region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).
Among the end-use industries, the military & defense segment accounted for a leading share of the global inspection drone market in 2018. The segment is anticipated to maintain its leading position in the global market during the forecast period as well.
Increase in the demand for border security is likely to be a major factor driving the global inspection drone market during the forecast period. Currently, major drone manufacturers are setting up drone pilot projects.
Different commercial applications such as critical infrastructure inspection, wildlife observation, railway track inspection, and bridge inspection are becoming easier with the help of inspection drones. Thus, commercial services based on inspection drones are gaining momentum, which is expected to drive the global inspection drone market during the forecast period.
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North America to be a Highly Lucrative Market for Inspection Drones
North America is expected to hold the maximum share of the global inspection drone market during the forecast period, owing to the early adoption of inspection drones in the region. Asia Pacific and Europe hold a considerable market share each, and these regions are projected to provide highly lucrative opportunities to the inspection drone market during the forecast period.
Asia Pacific is the second-largest as well as the most lucrative market for inspection drones across the globe. Different countries in Asia Pacific require high investments in the infrastructure sector to enable focus on building roads, highways, railway tracks and bridges. In the next few years, the construction industry in Asia Pacific is likely to directly benefit from increased savings and safety, enhanced communication, and accurate measurements and insights enabled by the adoption of inspection drones. Rising investments and increasing adoption of better inspection equipment in the region are estimated to drive the inspection drone market in Asia Pacific in the next few years.
High Investments and New Product Development by Key Players to Boost Global Inspection Drone Market
The report contains the profiles of the leading players operating in the global inspection drone market. These include 3D Robotics, Inc., Acecore Technologies, AeroVironment, Inc., Airobotics Ltd., Aeryon Skyranger, Intel Corporation, Lockheed Martin, SZ DJI Technology Co., Ltd., Yuneec International, Delair Aerial Intelligence, and AltiGator.
In May 2019, 3D Robotics, Inc. announced to have entered into a distribution partnership with Wingtra, a Europe-based manufacturer of VTOL (vertical take-off and landing) drones. As per this agreement, both companies would be supplying aerial surveying drones to a wide range of industries, particularly mining and construction.
In June 2019, AeroVironment, Inc. acquired VTOL UAS Developer Pulse from Aerospace, LLC for US$ 25.7 Mn, to widen its portfolio of small unmanned aircraft systems.
Global Inspection Drone Market: Segmentation
The global inspection drone market has been segmented as follows:
Inspection Drone Market by Component
Mainframes
Brushless Motors & ESCs
Transmitters & Receivers
Flight Controllers
Others
Inspection Drone Market by Sales Channel
Online
Offline
Inspection Drone Market by Application
Oil & Gas Pipeline Inspection
Solar Panel, Power Line and Windmill Inspection
Critical Infrastructure Inspection
Railway, Roadways, and Bride Inspection
Border Security
Others
Inspection Drone Market, by End-use Industry
Oil, Gas & Petroleum
Energy & Utilities
Military & Defense
Mining & Construction
Transportation
Others
Inspection Drone Market by Region
North America
U.S.
Canada
Rest of North America
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports thrive to provide clients to serve their overall research requirement.
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