USD 479.9 Million
Drones in Energy Sector Market Size, Share, Growth Analysis, By Application(Pipeline Monitoring and Inspection, Offshore Platform Inspection, Wind Turbine Inspection, Power Plant Inspection), By Type(Multirotor, Fixed Wing, and Hybrid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2186 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
73
Drones in Energy Sector Market Insights
Global Drones in Energy Sector Market size was valued at USD 479.9 Million in 2019 and is poised to grow from USD 563.31 Million in 2023 to USD 2981.29 Million by 2031, at a CAGR of 22.8 % during the forecast period (2024-2031).
The Global Drones in Energy Sector Market refers to the application of unmanned aerial vehicles (UAVs) or drones across diverse applications related to different sectors within the energy industry on an international scale. This market represents a broad range of industries, such as oil and gas, renewable sources, energy utilities, construction industry and power generation where drones find numerous purposes.
The main use cases of drones in the energy sector are inspection & surveillance, monitoring pipelines and condition assessment evaluation for power plant thermal scanning surveys to install renewable energies captured at operating sites. These unpiloted systems are also pivotal in cost reduction by eliminating the need for manual inspections which come with certain dangers and lead to enhanced data information concerning decision making. The worldwide application of drones within the oil and gas field is facilitated with a million factors like enhanced safety measures, improved productivity as well as accurate data collection in somewhat adverse & remote environments.
With further advancement in technology, the drones in the energy sector market are forecasted to register a healthy growth rate while technological innovations and developments will help them improve their performance as well identify more application areas throughout different stages of the energy value chain.
Based on SkyQuest's comprehensive analysis, drones are emerging as a pivotal technology in the energy sector, particularly in the wind turbines market, where they are positioned as alternatives to ground-based solutions. With the energy industry investing approximately US$ 8 billion annually in wind farm maintenance, the need for preventive maintenance checks on wind turbines, including manual inspections for signs of wear and tear, is significant.
Drones offer a solution by enabling 360-degree inspections, maintaining a centralized data repository, transporting maintenance equipment, and charting automatic flight paths for erosion and crack detection through on-demand remote monitoring. However, a limiting factor is the variable wind speeds in wind turbine environments, which may exceed the operational limits of drones, posing a barrier to their widespread adoption.
Moreover, our study highlights numerous close-range applications of drones in the energy sector, particularly around power lines, where they play a crucial role in vegetation growth monitoring and damage detection to prevent power outages or fire damage. Drones equipped with thermal sensors further enhance their utility by pinpointing discharge and overheating lines, facilitating timely maintenance interventions.
Despite their potential, challenges such as the need for electromagnetic shielding, pilot training requirements, and Beyond Visual Line of Sight (BVLOS) restrictions hinder their widespread adoption in this segment. These insights underscore the key demand-side trend of integrating drone technology into energy sector operations to enhance efficiency and reliability.
US Drones In Energy Sector Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pipeline Monitoring and Inspection
Fastest Growth
Offshore Platform Inspection
Growth Rate
22.8% CAGR
Global Drones in Energy Sector Market ($ Mn)
Country Share for North America Region (%)
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Drones in Energy Sector Market Segmental Analysis
Global Drones in Energy Sector market is segmented on the basis of application, Type and region. By application, the Drones in Energy Sector Market is segmented into Pipeline Monitoring and Inspection, Offshore Platform Inspection, Wind Turbine Inspection, Power Plant Inspection, Solar Panel Inspection, and Others. By type, the Drones in Energy Sector Market is segmented into Multirotor, Fixed Wing, and Hybrid. By region, the Drones in Energy Sector Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Drones in Energy Sector Market Analysis by Application
By application, the global market is divided into many segments such as Pipeline Monitoring and Inspection, Offshore Platform Inspection, Wind Turbine Inspection, Power Plant Inspection, Solar Panel Inspection, and Others. Pipeline Monitoring and Inspection segment held largest global Drones in Energy Sector market share due to the wide range of benefits provided by Drones in Energy Sector.Due to the increase in adoption of drones for new oil rigs and exploration activities in Asian and European country, the pipeline monitoring and inspection segmental will grow.Moreover, wind turbine inspection segment is projected to grow at the fastest rate and expected to grow with CAGR.
Global Drones in Energy Sector Market By application (%)
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Drones in Energy Sector Market Regional Insights
Globally, North America is estimated to hold the highest global Drones in Energy Sector market share. Main factors during this growth period are the presence of top market players,Increasing demand,Integration with various technologies and others.
Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Drones in Energy Sector technology in the region of Asia Pacific and mainly in China and Japan. Penetration of drones in Asia Pacific has doubled in the last few years. In addition,various operators are investing heavily in order to provide drone services at an affordable price to the consumers, which is likely to boost the demand for Drones in the Energy Sector in the region.
Global Drones in Energy Sector Market By Geography
- Largest
- Fastest
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Drones in Energy Sector Market Dynamics
Drones in Energy Sector Market Drivers
Increasing Usage of Wind Turbine to Bolster Market Growth
- In this several regions across the globe, the rising number of installation of new wind turbines and other renewable energy sources is expected to propel the market growth of Drone surveillance in energy sector in future.Many country have aimed to reduce their carbon emissions, therefore they are shifting to renewable energy sources which has led to increasing the installation of wind energy as well as solar energy that led to the growing drones in energy sector.Along with aid, the rising use of AI triple drones for renewable energy inspection will further facilitate the growth of market.
Drones in Energy Sector Market Restraints
Lack of Skilled Workers to Hinder Market Growth
- The efficient operation of Thrones for the inspection of offshore and onshore structures is vital and can be done with the help of experienced and skilled drone pilots. Due to the lack of search efficient pilots the drone in the energy sector market is likely to get hampered.
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Drones in Energy Sector Market Competitive Landscape
Competition in the global Drones in Energy Sector market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with Drones in the Energy Sector will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Drones in Energy Sector Market Top Player’s Company Profiles
- Aerodyne Group (Malaysia)
- Aesthetix Global (UAE)
- Airobotics Ltd. (Israel)
- Azure Drone SAS (France)
- BAE Systems Inc. (U.K.)
- Cyberhawk Innovations Limited (U.K.)
- Martek Aviation (U.K.)
- Mistras Group (U.S.)
- Percepto (Israel)
- SEIKEY Srl (Italy)
- Sky-Futures Ltd (U.K.)
- Sphere Drones (Australia)
- Terra Drone Corp. (Japan)
- Viper Drones (U.S.)
- Avitas Systems, Inc. (U.S.)
- Australian UAV Pty Ltd (Australia)
- Qualcomm Technologies (U.S)
- Texo DSI (U.K.)
Drones in Energy Sector Market Recent Developments
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In May 2023, Parrot partnered with Tinamu AG a Swiss drone automation technology developer to integrate the Parrot ANAFI AI into its indoor monitoring solutions. This combination of Parrot UAVs abilities and the soft version Tinamu brings state-of -art software creating an elaborate, fully automated robotic system for industrial use.
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In March 2023, PrecisionHawk announced a merger with the European company Field bringing new geospatial data analysis tools to sectors including infrastructure and energy in the United States. The strategic alliance between these two companies strengthens PrecisionHawk’ position, by infusing Field expertise providing enhanced geospatial analytics to the sectors beyond borders of Eurasia and reinforcing itself as a novel pre-euro global provider of GIS intelligence solutions.
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In August 2022, Israeli autonomous-inspection drone manufacturer Percepto completed a successful proof-of-concept test of its Percepto Air drone-in-a-box platform for the monitoring of a 250-acre floating solar farm in Thailand.
Drones in Energy Sector Key Market Trends
- Combining the drone with advanced laser and sensor technology based system and components has helped the drone industry to enter in the energy sector.A I powered true sign integration of it with IIT has been the major trend among the drone industry which led to the increase of usage of it in energy sector.Light detection and ranging unmanned aerial systems are highly preferred for oil and gas rig inspection purposes.This technological advancement has helped the drone industry in energy sector to grow.
Drones in Energy Sector Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Drones in Energy Sector market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists such as drones alarm to map an area quickly and efficiently, zipping past power lines and towers while avoiding any potential hazards. Because of the agility, lesser size and lightweight, they can cover a lot of ground that the traditional area vehicles can't.. Drones in Energy Sectors will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 479.9 Million |
| Market size value in 2031 | USD 2981.29 Million |
| Growth Rate | 22.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Drones in Energy Sector Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Drones in Energy Sector Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Drones in Energy Sector Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Drones in Energy Sector Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Drones in Energy Sector Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Drones in Energy Sector Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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