Global Utility Drones Market By Type (Multi-Rotor & Fixed Wing), By Services (End-to-End Solution & Point Solution), By End-User (Power (Generation, Transmission & Distribution) & Renewable (Solar, Wind)), By Region, Competition, Forecast & Opportunities, 2024
Global Utility Drones Market Overview
Global utility drones market is forecast to grow at a CAGR of over 30% during the forecast period, owing to rising demand to minimize service time and cost efficiency and increase reachability in dangerous locations.Few years back, drones were mostly used in military and defense industry; however, their adoption is growing to a wide range of civilian roles, starting from surveillance, search and rescue, firefighting, traffic monitoring and weather monitoring, to business drone-based and personal drone-based agriculture, videography, photography and even delivery services.
Utility drones are expected to have a huge impact in the power & utility sector over the next few years. Operators in the energy industry are finding the drone technology quick, accurate, cost-effective and easy, owing to powerful computers, improved efficiency and affordable drone technology, which in turn is boosting the utility drones market growth, globally.
Global Utility Drones Market Segment Insights
Based on type, global utility drones market has been categorized into multi-rotor and fixed wing.The multi-rotor type accounted for largest share in the global market in 2018 and is anticipated to maintain its market dominance during the forecast period, as they are cheap and readily available in the market.
The multi-rotor drones are also used for aerial inspection and photography, which is expected to boost its growth during the next five years.
Global Utility Drones Market Regional Insights
North America accounted for a significant portion of the global utility drones market in 2018.The regional growth can be attributed to increasing emphasis on research & development activities and presence of major vendors, particularly in countries such as the US and Canada.
Moreover, innovations in drone analytics along with favorable government regulations in the region are anticipated to fuel the regional market.The Asia-Pacific region with its emerging economies such as China and India is also anticipated to offer lucrative growth opportunities to utility drone providers.
Increasing private funding and investments in the development of power infrastructure, establishment of long transmission lines and adoption of renewable energy sources are the primary factors likely to positively influence the utility drones market in the region.
Some of the leading players in global utility drones market are Aerodyne SYSTEMS SDN BHD, Asset Drone, Cyberhawk Innovations Limited, ABJ Drones, etc.
• To analyze and forecast global utility drones market size.
• To forecast global utility drones market based on type, services, end-user and regional distribution.
• To identify drivers and challenges for global utility drones market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global utility drones market.
• To conduct the pricing analysis for global utility drones market.
• To identify and analyze the profile of leading players operating in global utility drones market.
Some of the leading players in global utility drones market are Aerodyne SYSTEMS SDN BHD, Asset Drone, Cyberhawk Innovations Limited, ABJ Drones, Delair, Terra Drone Corporation, Sky-Futures Ltd., Measure, Hemav, Sharper Shape Ltd., etc.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated global utility drones market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Utility drone manufacturers, distributors, suppliers and end users
• Government bodies such as regulating authorities and policymakers
• Organizations, forums and alliances related to utility drones market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.
In this report, global utility drones market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Type:
o Fixed Wing
• Market, by Services:
o End-to-End Solution
o Point Solution
• Market, by End-User:
Transmission & Distribution
• Market, by Region:
o North America
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global utility drones market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Our reports have been used by over 10K customers, including:
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