Global Inspection Drones Market Revenue and Forecasts (US$ Mn, 2015 – 2030); A Report by Absolute Markets Insights

PUNE, MAHARASHTRA, INDIA, March 23, 2022 /EINPresswire.com/ -- In terms of revenue, the Global Inspection Drones Market was valued at US$ 9,158.2 Mn in 2021 growing at a CAGR of 15.9% over the forecast period (2022 – 2030).

Segmental Analysis - Global Inspection Drones Market

According to Absolute Markets Insights report, hardware segment accounted for the higher market share in 2021 in the inspection drones market. The growth of the hardware segment can be attributed to the drone sales that continue to climb. In addition, rising development of innovative inspection drone technology is projected to boost the growth of this segment. For instance, in February 2022, Sulzer & Schmid Laboratories, a Swiss company specialized in technology to enable inspection campaigns has launched its new 3DX SmartPilot drone solution to inspect wind farms operating in remote locations. On the other hand, in November 2021, Percepto, the leader in autonomous inspection sector launched AI-powered drone for inspection and monitoring.

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In the last few years, the use of inspection drones has increased in business operations across different industries due to their ability to drive efficiency and data analytics. For instance, inspection drones in the railway industry have become a necessary equipment for a stable railway inspection. Such drones are being employed to monitor railway infrastructures such as railway catenary lines, high-voltage electrical lines, and even tracks and switching points. Further, the global inspection drones market is seeing heavy investments, creating lucrative growth opportunities for the market. For instance, in March 2021, DNV, the Norwegian quality assurance & risk management company and Equinor Ventures (EV) invested in Scout Drone Inspection (ScoutDI), the provider of specialised inspection drones and cloud-based data analysis services.

Key Findings:

• By component, the services segment is expected to witness highest growth rate during the forecast period. Rise in demand for inspections and mapping of cell towers, oil & gas infrastructure, cooling towers, solar farms, wind farms, power lines, and nuclear power plants in energy and utilities sector across the globe is fuelling the demand of services segment in the global inspection drones market. The implementation of services ensures effective functioning of inspection drone solutions with transparency and control throughout the process.
• By end use, construction segment accounted for the highest market share in inspection drones market in 2021. Ongoing collaborations among the market players and the construction industry players is boosting the growth of this segment. For instance, in September 2020, Skydio, the American drone company partnered with EagleView, a leading aerial imaging and data analytics company. This partnership is projected to lead to 5,000 drone sales and more efficient system for inspecting damaged roofs of buildings. However, military & defence segment is anticipated to witness highest growth rate during the forecast period. For instance, both of the U.S. military and the Central Intelligence Agency (CIA) uses inspection drones as part of conventional fighting in war zones as well as to conduct targeted killings of individuals who are suspected of terrorism.
• By distribution channel, offline segment accounted for the major share in 2021. However, online segment is projected to witness highest growth rate during the forecast period. Growth of this segment is mainly driven by upsurge in trend of online purchasing of all sorts of equipment and items. In addition, the leading e-commerce industry players such as Amazon.com Ind. and Alibaba are expanding their presence in the inspection drones industry. This factor is projected to create lucrative growth opportunities for the online sales channel segment.
• By region, North America region dominated the market in terms of revenue in 2021. However, the Asia-Pacific inspection drones market is expected to witness highest growth rate during the forecast period. Significant demand for inspection drones in growing economies including China and India for inspection and monitoring tasks associated with the agriculture and utility sectors is fuelling growth of the market. Furthermore, introduction of global inspection drones market players in this region is anticipated to create lucrative growth opportunities. For instance, in July 2021, SwissDrones, a Swiss aviation company specialized in inspection drones entered into the Australian and Asia Pacific markets with the launch of the SDO 50 V2. This product is a multipurpose inspection drone which offers safer and cheaper way of conducting critical missions.

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Global Inspection Drones Market Scope:

• Global Market size and forecast values (2015 – 2030), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2020 has been considered as historic years, 2021 as the base year, while 2022 to 2030 has been considered as the forecast period.
• Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
• Technological Trends
• Macro-Economic and Micro-Economic Indicators
• Market determinants and Influencing Factors
• Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
• Global and Regional Impact of Covid-19 on Global Inspection Drones Market
• Porter’s Five Forces Analysis
• Competitive Benchmarking: (Global Presence and Growth Strategies (Mergers and Acquisitions, R&D Initiatives, Product Launches, Investments Trends))
• Market Share Analysis, 2021
• Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies.

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Competitor Insights:
A few of the key players operating in the global inspection drones market are listed below:

• 3DR
• AeroVironment, Inc.
• Airobotics Ltd.
• Delair
• DJI
• FLYABILITY SA
• Intel Corporation
• Lockheed Martin Corporation.
• MICRODRONES
• Teledyne FLIR LLC
• thyssenkrupp
• Yuneec Holding Ltd.
• Other Market Participants

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Global Inspection Drones Market:

By Component
• Hardware
o Drones
o Payloads & Controllers
o Accessories
o Others
• Solutions
• Services
o Consulting Services
o Support and Maintenance Services
o Others

By End Use
• Mining
• Oil & Gas
o Facility and Utility Equipment Management
o Leak Detection and Repair (LDAR)
o Production and Refinery
o Pipeline Integrity
o Exploration and Construction
o Others
• Manufacturing
• Construction
• Agriculture
• Power & Utilities
o Solar Panels Inspection
o Power Line/Cable Inspection
o Wind Turbine/Windmill Inspection
o Others
• Military & Defence
• Others

By Distribution Channel
• Online
• Offline

By Region
• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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