Drones For Energy Industry Market: CAGR of 25.53% from 2017 to 2023 | Industry Trends, Business Revenue Forecast and Statistics, Growth Prospective, Forecasts

“Global Drones for Energy Industry Market”
Global Drones For Energy Industry Market, By Drone type (Fixed Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, Power and Renewable), By Application (Inspection, Leak and Spillage Response and Security and Surveillance) and Region – Forecast 2017-2023.

Prominent Players

AeroVironment, Inc. (US), DJI (China), Aeryon Labs Plc. (UK), Aibotix GmbH Limited (UK), Ascending Technologies Inc. (Canada), UAVision. (Canada), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada) and Microdrones (Germany) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global drones for energy industry market.

Drones for Energy Industry Global Market – Overview

The Global Drones for Energy Industry Market has witnessed a remarkable growth in the past few years and it has been anticipated that the market will grow at the rapid pace during the forecast period. Drones for energy are poised to grow at a substantial rate as the industry is investing in the services provided by an unmanned aerial vehicle, for line-of-sight applications, to observe ocean-going ships, to inspect offshore platforms and refineries, to inspect or monitor power lines, wind turbine, solar panel. These drones provides and process accurate data from the remote systems, where human access is difficult and is also a cost effective & less time consuming inspection technique compared to manual inspection. As per the study conducted by Market Research Future, the global market for drones for energy industry is likely to grow at the CAGR of around 25.53%.

Drones for energy industry can be defined as, an unmanned aerial vehicle used to inspect or monitor power lines, wind turbine, solar panel, offshore rigs and flarestacks for preventive maintenance of the system. These drones provides and process accurate data from the remote systems, where human access is difficult and is also a cost effective & less time consuming inspection technique compared to manual inspection. The drones for energy industry is driven by various factors such as accurate assessment of operating condition of assets, and effective cost reduction compared to manned operations. However, federal regulations limiting the usage to line-of-sight, lack of technological advancements for processing the raw data will act as restrains for the drones for energy industry market, globally.

Conventional assessment, monitoring and inspection for remote & discrete system requires skilled manpower, high-tech equipment, cranes, ropes, ladders or scaffolding. These factors increases the overall maintenance cost as well as the risk associated with it. Also, the labour cost associated with discrete inspection is high as compared to regular assessment. Whereas, drones for energy industry are convenient, easy and accurate to assess such systems, where manual inspection is difficult or risky. Drones used for energy industry are accurate, flexible, reliable and cost effective. They are easy to operate in harsh environment and also at high altitudes, and require lesser time for assessment.

Drones for energy industry is driven by its benefits over conventional manual inspection. Drones can inspect the PV modules installed at utility scale, rooftop or building integrated systems. Drones can produce thermography of the solar power plant, inspect for degradation, & malfunction of PV modules also, dust saturation and vegetation monitoring over PV modules. Drones can detect the edge erosion and blade defects over the turbine also, they can inspect the turbine blade lightning receptor, tower and nacelle. Drones can detect leaks, corrosion and other problems related with oil & gas rigs & pipelines. Drones are used in transmission lines for vegetation management to monitor the trees to prevent them from interfering with transmission lines. These factors, majorly, are contributing to the growth of drones for energy industry in near future.

Drones for energy industry are cost effective as compared to manual inspection. Drones for energy industry are easy, flexible and convenient for use. Drones helps reduce the economic cost associated with inspection or monitoring of the large scale remote system. Drones provides aerial images, which helps the operator receive them in real-time and can assess the faults from his location itself, thus eliminate the manual error associated with site inspection and risk associated with the inspection in remote, high altitude and offshore operations.

Cost effectiveness is one of the major drivers for the growth of drones for energy industry market, forcing renewable & conventional power project and oil & gas developers, in locations where project is large scale or is discrete and located offshore, to utilize drones for inspection and monitoring. These drones prove economic feasibility for a discrete site assessment, for reliable and cost effective inspection, and, thus increase the demand of drones for energy industry market.

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Industry News

In October, 2016 – Intel Announces Intel Falcon 8+ UAS., at the INTERGEO drone conference in Hamburg, Germany, Intel has built the AscTec Falcon 8 system and announcing the release of the Intel Falcon 8+ for North American markets.

In October, 2016 – Aibotix, the leading provider of Unmanned Aerial Vehicle (UAV) solutions, presented the latest innovations in UAV technology in celebration of the five-year anniversary of the Aibot X6 UAV at INTERGEO 2016 at Hall A3, Booth D3.033.

In October, 2016 – Delair-Tech and Microdrones has jointly became official UAS suppliers for Trimble’s worldwide distribution network, Microdrones is now showcasing four new mapping solutions (called mdMapper)

Drones for energy industry Global Market – Segmentation

The scope of global drones for energy industry market is segmented into three major segments which are explained below:

  • By Drone Type
    • Fixed Wing Drone
    • Rotary Blade Drone
    • Hybrid Drone
  • By Industry Type
    • Oil & Gas
    • Power
    • Renewable
  • By Application
    • Inspection
    • Leak and Spillage Response
    • Security and Surveillance

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Market Research Future Analysis:

Market Research Future analysis states that the global market of drones for energy industry market is estimated to grow at USD 8,390.5 million by the end of year 2023. The remarkable growth in renewable sector such as, solar power plants, onshore wind farms and offshore wind on a large scale. Such large scale projects needs a precise method for monitoring which is cost effective and less cost consuming. Drones in renewable energy sector are helpful to monitor the valuable assets. It is also used in power sector can better monitor sensitive infrastructure for dangerous situations as well as improve distribution reliability and are even expected to cut inspection costs to a greater margin. Asia-Pacific is the largest power producer globally, and is the largest market for renewable energy generation across the globe The drones for energy industry market is emerging in countries such as China, India, and Japan, and is estimated to grow at a high rate in the forecast period. The Asia-Pacific market is leading the global drones for energy industry market whereas the market in North America & Europe is expected to grow rapidly due to increased domestic demand for drones for energy industry.

About Market Research Future:

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