Rockville, Nov. 23, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Offshore Drone Inspection Market is anticipated to reach US $1,456.8 Mn by the end of 2033 while progressing at a CAGR of 13%.
Offshore drone inspection involves using unmanned aerial vehicles (drones) to check the condition of structures like oil rigs and platforms in marine environments. This method is safer than traditional approaches, as drones can reach hazardous or remote areas without risking human lives. It's also cost-effective, reducing operational expenses by eliminating the need for extensive manpower and equipment.
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Key Segments of Offshore Drone Inspection Industry Research Report
| By Drone Type | By Application | By End User | By Region |
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Drones are quick, covering large areas in a short time, leading to faster and more frequent inspections that help detect issues promptly. Equipped with advanced imaging technology, drones capture detailed data, aiding in the identification of potential problems such as corrosion.
The growth market is primarily driven by the compelling need for enhanced safety and cost efficiency in the offshore oil and gas industry. Drones offer a safer alternative to human inspection in hazardous environments, reducing operational risks.
A real challenge in this industry revolves around striking a balance between the initial costs of acquiring drone technology and equipment and the potential long-term savings in operational efficiency. Dealing with the cybersecurity risks linked to the transmission and storage of sensitive inspection data is a real struggle.
Key Takeaways:
- North America has experienced a market value of US $ 77 Mn in 2023. However, the region had witnessed a market share of ~18% in 2022. The growing oil and gas industry is expected to contribute to the US offshore drone inspection market.
- In the meanwhile, Europe has witnessed a market share of ~16% in 2023 and China is expected to witness a market share of ~39% in 2023. Asia Pacific market is expected to witness the highest growth during the forecast period due to the surge of UAV service providers in China and India.
- The inspection and maintenance segment is expected to witness a CAGR of 19.8% during the forecast period and it is a driving segment in the offshore drone inspection market.
The imperative for enhanced safety, significant cost efficiency, and the integration of advanced technologies for comprehensive and timely assessments of offshore assets are a few factors that are driving the business- Says Fact.MR Expert
Market Competition
In the current highly competitive market, leading companies are dedicated to creating and introducing drone solutions that are both innovative and economically viable for end users. Key players in this sector comprise Texo DSI, Avitas Systems, Inc., Terra Drone Corp., Sky-Futures Ltd., Percepto, Martek Aviation, BAE Systems Inc., Airobotics Ltd., Aerodyne Group, Australian UAV Pty Ltd., Viper Drones, and Sphere Drones.
- Texo DSI reported in July 2021 the successful provision of 3D digital twins for four offshore platforms – Tern Alpha, Cormorant Alpha, North Cormorant, and Eider Alpha – to their client TAQA in the North Sea.
Winning strategies
- Key players in the market are Investing in the research and development of specialized sensors, such as thermal imaging or corrosion detection sensors, to offer a more comprehensive range of inspection services tailored to offshore asset needs.
- Key players should focus on designing energy-efficient drones with longer battery life. This helps drones stay in the air for more extended periods, covering larger offshore areas in one go and minimizing the need for frequent recharging.
- Top players should use effective drone fleet management systems. These systems help monitor and control multiple drones at once, making it easier to deploy them efficiently for large-scale offshore inspections and maintenance projects.
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| Report Attribute | Details |
| Value Projection (2034) | USD 1,456.8 Million |
| Growth Rate (2024-2034) | 13% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 60 Tables |
| No. of Figures | 94 Figures |
The expanding oil and gas industry play a significant role in the increasing prominence of the U.S. offshore drone inspection market, positioning it as the dominant player for the foreseeable future. The operational growth in gas activities within the region is substantial. Furthermore, the market's appeal is augmented by the planned installation of offshore wind turbines in the coming years.
Offshore drone inspections in the U.S. integrate diverse technologies that enhance their user-friendliness and operational efficiency. The surge in offshore exploration activities is attributed to the discovery of untapped reserves. The projected market value for the U.S. offshore drone inspection is anticipated to reach US$ 73.1 million in 2023.
Checkout More Related Studies Published by Fact.MR Research:
Firefighting Drone Inspection Market: The global firefighting drone inspection market will reach a valuation of US$ 596.6 million in 2023 and expected to progress at a CAGR of 17.1% to reach US$ 2,892.6 million by the end of 2033.
Industrial Drone Inspection Market: The global industrial drone inspection market will reach a valuation of US$ 639.2 million in 2023 and expected to progress at a CAGR of 16.7% to reach US$ 2,994.7 million by the end of 2033.
Thermal Drone Inspection Market: The global thermal drone market will reach a valuation of US$ 282.4 million in 2023 and is further expected to progress at a CAGR of 13.4% to reach US$ 993.1 million by the end of 2033.
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