Drones Market for Energy Industry

An Unmanned Aerial Vehicle (UAV), or drone is an aircraft devoid of human pilot and which is flown and controlled by a ground-based controller using wireless communications or may be autonomous by onboard computers. The global drones market for energy industry market is projected to grow at a CAGR of 25.53% during the review period of 2020 to 2027.

Prominent Players:

The dominant players operating in the market of global Drones Market For Energy Industry are AeroVironment Inc. (US), ING Robotic Aviation (Canada), Drone America (US), DJI (China), Ascending Technologies Inc. (Canada), Draganfly Innovations Inc. (US), Aeryon Labs Plc. (UK), Aibotix GmbH Limited (UK), UAVision. (Canada), and Microdrones (Germany) and others.

Segmentation:

The global drones market for energy industry has been segmented by drone type, industry type, application, and region so as to provide the reader with an unbiased view of the market potentialities.

Based on the drone type, the market has been sub segmented by fixed wing drone, rotary blade drone and hybrid drone. Fixed wing drone accounted for the largest market share of 49.7 % in 2016, which is projected to grow at a 25.08 % CAGR.

Based on the industry type, the market has been sub segmented by oil & gas, power and renewables. Oil & gas possessed the largest market share of 67.2 %, in 2016, which is anticipated to grow at a 25.03 % CAGR.

Based on the application, the market has been sub segmented by inspection, leak and spillage response and security and surveillance.

Based on the region, the market has been sub segmented by North America, Europe, Asia Pacific, Middle East and Africa.

Market Dynamics:

Drivers

A surge in application expansion such as line-of-sight applications such as aerial photography, offshore oil and wind energy platforms inspection, logistics, security, disaster control etc. is the prime driver of the market. Technological advancements such as growing autonomy made possible by advances in computational power, three-dimensional thrust vectoring flight control and machine learning are expected to trump the large challenges the industry faces. Advancements in materials such as development of carbon fiber, miniaturization has resulted in cost effectiveness due to low powerful propulsion technologies such as small electric motors and batteries.

However, it is computing capabilities and advances in sensor and software’s which is expected to provide the necessary impetus to propel the market from the realms of science fiction to real application. Thus advances such as system-on-a-chip (SOC) and single-board computers (SBC) are expected to cruise the market. The growing degrees of freedom (DOF) afforded by advances in sensor technology and real time data is further expected to add to the growth of the market.

Restraints

High cost of installation and maintenance coupled with the nascent stage of the technology are the greatest barriers which need to be overcome. The scarcity of trained manpower coupled with the steep learning curve are other bottle necks which are grounding the market. Stringent regulations and licensing are regulatory restraints limiting the usage of drones.

Regional Analysis:

North America and Europe dominate the global landscape owing to the presence of large players, large purchasing power, development of shale oil, rapid adoption of technology and others. The development of offshore oil platforms especially in the North Sea and Gulf of Mexico is charging the market.

The Asia Pacific region accounts for the second largest market led by nations such as Russia, China, Japan and others. The Middle East and Africa region is skewed in favor of the Gulf economies of Saudi Arabia, Kuwait and UAE.

Drones Market for Energy Industry: Information by Drone Type (Fixed-Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, and Power and Renewable), by Application (Inspection and Leak and Spillage Response and Security and Surveillance), By Technology (Hardware and Software) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Forecast till 2027 @https://www.marketresearchfuture.com/reports/drones-energy-industry-market-3847

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