Global Utility Drones Market was valued US$ xx Mn in 2019 and the total revenue is expected to grow at 34.9% through 2020 to 2027, reaching US$ xx Mn.
Global Utility Drones Market
Global Utility Drones Market Overview:
The main growth driver of the global utility drones market is increasing demand for better reach & decrease in service charges at many unsafe parts of the world. The technical advancements related to improved camera quality of drones is making them the most favored choice for surveillance & inspection applications. Key oil companies are gradually adopting drones inspection & exploration actions to reduce their manufacturing costs. The easy availability to remote locations is one of the key advantages presented by drones. Thus, these are some influences that are expected to contribute in growth of the global utility drones market during the forecast period.
Developments in drone technology:
Key players around the world have been constantly working on one major concern faced with drone’s battery life duration. Considering that drones can be worked only for a couple of minutes, their manufacturers are trying to invent on many parameters to consent longer flight periods. On the other hand, battery makers have also been in the search to come up with advanced solutions to improve the battery life, & eventually the total flight time of drones. For example, a start-up from Massachusetts called Solid Energy Systems has been functioning on lithium metal batteries, which are anticipated to deliver twice as much power as opposed to the conservative lithium-ion batteries.
By end-user, the utility drone market has been divided into power & renewable segments. The power segment is expected to hold the maximum market share in 2019. The returns of using utility drones for the power industry comprise cutting down of operation & maintenance costs; increasing awareness about the worker safety as their ability to fly in potentially hazardous areas; usage of little or no fuel; & negligible environmental impact. All these are the key influences that are driving the power end-user sector of the utility drone market over the forecast period.
Working safety & Data protection
Acceptance of drone technology, by the utilities & also other industries, is increasing at a very fast pace in the forecast period. This can lead to the difficulties in handling air traffic, growing the risks of accidents & other related flying accidents. In case of malfunctioning, like loss of power or loss of signal between the pilot & the drone, the occurrences can pose major threats to the public. For utility key players, a minor failing can lead to drone’s crash. The crash onto their resources (e.g., power lines) & can lead to a disturbance in electricity supply while also strictly damaging the equipment.
Since drones capture huge quantity of data, for utilities in this case, there are worries regarding the protection & safety of close data from potential hackers. Cybersecurity is one of the highest priority to drones & the related software industry. Although data hacking from drones has not been a big question, there are still probabilities of data vulnerability if drones are connected to the internet. Such cyber concerns have been overcome by some key players, like Sharper Shape, which use cloud expertise to process & maintain complex data. However, there are utility key players that still rely on old-school approaches of data protection & have not accepted modern day cloud-based solutions.
North America is expected to account for major share in terms of revenue in the total market, & is anticipated to maintain its position during the forecast period. Growing usage of renewable energy resources is some of the key factors anticipated to drive development of the target market in this region. Government rules regarding usage of utility robots is an influence that could affect development of the target market in region. Asia Pacific market is expected to register high development in terms of revenue during the forecast period, followed by markets in Europe, MEA & Africa, & Latin America. Increasing adoption of innovative technologies, coupled with increasing power generation plants is a dynamic projected to fuel development of the utility drones market in Asia Pacific region.
Global Utility Drones Market1
The objective of the report is to present a comprehensive analysis of the Global Utility Drones Market including all the stakeholders of the industry. The past and current status of the industry with forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes Market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Utility Drones Market dynamics, structure by analyzing the Market segments and project the Global Utility Drones Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Utility Drones Market make the report investor’s guide.
Global Offshore Crane Market, by Services
• End to End users
• Point Solution
Global Offshore Crane Market, by Type
• Multi Rotor
• Fixed Wing
Global Offshore Crane Market, by End User
• Conventional Power
• Renewable Energy
Global Offshore Crane Market, by Region
• North America
• MEA & Africa
• Latin America
Global Utility Drones Market Key Players
• Cyberhawk Innovations Limited (Scotland)
• PrecisionHawk (U.S)
• Delair (France)
• Skyscape Industries (U.S)
• Measure (U.S)
• Sharper Shape Inc. (U.S)
• Sky Futures (U.K)
• Terra Drone (Japan)
• ABJ Drones (U.S)
• ULC Robotics (U.S)
• Aerodyne Group (Malaysia)
• Asset Drone (U.S)
• Hemav (Spain)
• YUNEEC (U.S)
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