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, 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 up 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.,
The utility drones market has been analyzed through the following segments:
Powerline and Telecom
Middle East and Africa