Global Utility Drones Market Outlook 2024

Posted by Bharat Book on August 9th, 2019

Bharat Book Bureau Provides the Trending Market Research Report on 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, 2024under Business Services category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

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.

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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.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

• 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.

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Bharat Book
Joined: August 18th, 2017
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