Pune, April 15, 2021 (GLOBE NEWSWIRE) -- The utility drones market is growing rapidly, mainly due to the high adoption of remote-controlled aerial devices for utility infrastructure monitoring. Rising uses of drones and digital communications & control systems that have enabled the grid operators to manage the transmission and distribution systems efficiently boost the market size.
Utility industries worldwide are growing rapidly, enabling digital engagement channels to exceed customer expectations. Therefore, utility drone uses are trending in most regions attributing to the socioeconomic pressures and technology innovations. Besides, rapid developments in renewable, distributed generation, and smart grids required by new business models and regulatory frameworks create vast growth opportunities.
According to Market Research Future (MRFR), the global utility drones market is projected to accrue enormous gains by 2027, growing at a massive 36.2% CAGR throughout the forecast period (2020-2027). Utility drones can help optimizing asset planning & information management, asset condition monitoring, program performance management, investment functions, and others.
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Utility Drones Market – Segments
The utility drones market analysis is segmented into services, type, end-use, and region. The services segment is sub-segmented into end-to-end solution and point solution. Of these, the end-to-end solution segment holds the largest market share.
The type segment is sub-segmented into multi-rotor and fixed-wing. Among these, the multi-rotor segment holds the largest market share. The segment is expected to grow with the highest CAGR during the forecast period as multi-rotors are comparatively low-cost and readily available in the market.
The end-user segment is sub-segmented into conventional power and renewable. Among these, the renewable segment holds the largest market share. The segment is expected to grow with the highest CAGR during the forecast period due to increasing investments to curb CO2 emissions and the growing need for electricity.
The sub-segment conventional power is further bifurcated into transmission & distribution (T&D) and generation. The sub-segment renewable is further bifurcated into solar and wind. The region segment is sub-segmented into the Asia Pacific, Americas, Europe, and rest-of-the-world.
Utility Drones Market – Regional Analysis
North America dominates the global utility drones market, witnessing increased investments in power infrastructure monitoring and management. Besides, the digital transformation in utilities crucial in leveraging mobility, analytics, cloud technologies, and others substantiates market demand. Rising power consumption and focus on renewable power generation in the region create significant growth opportunities in the market.
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Europe is emerging as one of the fastest-growing regions in the global market for utility drones. The region holds huge demand for advanced technologies for remote monitoring of utilities.
Many European power utilities have adopted remote-controlled aerial devices fitted with cameras to carry out surveys for infrastructure maintenance. Additionally, large budgets to improve the technology and modernization of utility infrastructure create substantial market demand.
The Asia Pacific utility drones market is growing at a significant rate. Factors such as the strong presence of drone service providers, the large consumer base of energy, and developing power sectors in the region create huge market demand. Countries like China, Japan and India are emerging as considerable markets for utility drones.
Furthermore, growing developments in utility infrastructures and rising investments to upgrade commercial-scale power plants across the region substantiate the market growth. The APAC utility drones market is expected to register a significant CAGR during the forecast period.
Global Utility Drones Market - Competitive Analysis
The market appears highly competitive and fragmented, with many large players forming a competitive landscape. Industry players make considerable investments locally and in emerging countries to expand their global footprints and distribution & supply chain networks.
Obtaining strong financial support is the sole strategy of these players to maintain their market positions. Drone manufacturers strive to minimize production costs by adopting cost-effective techniques.
Major Players
Players leading the global utility drones market include PrecisionHawk(US), Cyberhawk Innovations Limited (Scotland), Delair (France), Measure (US), SkyScape Industries (US), Sharper Shape Inc. (US), Terra Drone (Japan), Sky Futures (UK), ABJ Drones (US), Aerodyne Group (Malaysia), ULC Robotics (US), Asset Drone (US), YUNEEC (US), Hemav (Spain), and DJI (China), among others.
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Industry/Innovation/Related News
MAR 19, 2021 – AES Ohio, a leading utility company, announced their collaboration with Sinclair’s Unmanned Aerial Systems program to use eBee X drones to create a digital map of power lines from the 24 counties the power company services. AES has long been facing maintenance problems, including encroaching vegetation that often leads to power outages.
Though the utility company has preventative services to deal with these issues, it requires huge workforces and time to investigate. The deal would enable AES Ohio to offer more efficient and reliable services, advancing their equipment and work method.
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