The utility drones market is projected to grow at a CAGR of 28.94% to reach US$435.631 million by 2024, from US$94.814 million in 2018. The rising demand for minimizing the occurrence of outages in power transmission and distribution infrastructure is one of the major drivers of the utility drone market. Stringent workers’ safety regulations are also escalating the demand for utility drones for expanding their reachability in hazardous locations. The utility drone market has been segmented on the basis of type, application, and geography. In the type segment, multi-rotor drones hold a significant market share on account of the increasing utilization of drones for aerial inspection and imagery owing to the high precision and stability they offer.
Geographically, the utility drone market has been segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America will hold a substantial share in the market owing to the rising investment in power infrastructure and increasing focus on renewable energy. Additionally, technological advancements in drones will widen the growth opportunities during the forecast period.
Growing demand for minimizing outages in transmission infrastructure.
Budding adoption of solar energy.
Strict legal regulations.
In June 2018, HEMAV launched Hemav Planner.
In March 2018, HEMAV approved a plan to expand its business internationally by starting operations in countries like Brazil and Mexico.
The major players profiled in the Utility Drones market include Cyberhawk Innovations Limited, HEMAV, PrecisionHawk, Delair, Phoenix Drone Services, Skylark Drones Private Limited, Sky Scape Industries, Asset Drone and Meaure UAS Inc.,
|Market size value in 2018||US$94.814 million|
|Market size value in 2024||US$435.631 million|
|Growth Rate||CAGR of 28.94% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Cyberhawk Innovations Limited, HEMAV, PrecisionHawk, Delair, Phoenix Drone Services, Skylark Drones Private Limited, Sky Scape Industries, Asset Drone, Measure UAS Inc.|
|Customization scope||Free report customization with purchase|
The utility drones market has been analyzed through the following segments:
Powerline and Telecom
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the utility drones market?
A1. The utility drones market is projected to grow at a CAGR of 28.94% during the forecast period.
Q2. What will be the utility drones market size by 2024?
A2. The global utility drones market is projected to reach a total market size of US$435.631 million by 2024.
Q3. What is the size of the global utility drones market?
A3. Utility Drones Market was valued at US$94.814 million in 2018.
Q4. What factors are anticipated to drive the utility drones market growth?
A4. The rising demand for minimizing the occurrence of outages in power transmission and distribution infrastructure is one of the major drivers of the utility drone market.
Q5. Which region holds the largest market share in the utility drones market?
A5. North America will hold a substantial share in the utility drones market owing to the rising investment in power infrastructure and increasing focus on renewable energy.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. UTILITY DRONES MARKET BY TYPE
5.1. Fixed Wing
6. UTILITY DRONES MARKET BY APPLICATION
6.2. Powerline and Telecom
7. UTILITY DRONES MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investments and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. Cyberhawk Innovations Limited
9.5. Phoenix Drone Services
9.6. Skylark Drones Private Limited
9.7. Sky Scape Industries
9.8. Asset Drone
9.9. Meaure UAS Inc.,
LIST OF FIGURES
LIST OF TABLES
Cyberhawk Innovations Limited
Phoenix Drone Services
Skylark Drones Private Limited
Sky Scape Industries
Measure UAS Inc.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.