Category

Utility Drones Market - Forecasts From 2019 To 2024

100 pages
Published on : May 2019
Report Code : KSI061612343

Description

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.

DRIVERS
Growing demand for minimizing outages in transmission infrastructure.
Budding adoption of solar energy.

RESTRAINTS
Strict legal regulations.

INDUSTRY UPDATE
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.,

Segmentation

The utility drones market has been analyzed through the following segments:

By Type
Fixed Wing
Multi-rotor

By Application
Solar
Powerline and Telecom
Pipeline

By Geography
North America
USA
Canada
Mexico

South America

Europe
Germany
France
United Kingdom
Others

Middle East and Africa

Asia Pacific
China
Japan
South Korea
India
Others

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