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Drones Energy Industry Market

ID: MRFR/AD/2559-CR
103 Pages
Swapnil Palwe
July 2019

Drones Market for Energy Industry Information by Drone Type (Fixed-Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, and Power and Renewable), by Application (Inspection and Leak and Spillage Response and Security and Surveillance), By Technology (Hardware and Software) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Forecast till 2030

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Drones Energy Industry Market Summary

As per Market Research Future Analysis, the Global Drones Market for the Energy Industry is projected to reach USD 69.4 Billion by 2030, growing at a CAGR of 14.30% from 2023 to 2030. The market has witnessed significant growth due to advancements in drone technology, enabling efficient inspection and monitoring of energy assets such as solar panels, wind turbines, and power lines. Drones offer cost-effectiveness, accuracy, and flexibility, making them essential for the energy sector. The COVID-19 pandemic initially disrupted market growth, but recovery is underway with increased investments in R&D and strategic partnerships. The market faces challenges from regulatory constraints and high labor costs, but opportunities exist in expanding applications and technological innovations.

Key Market Trends & Highlights

The Drones Market for Energy Industry is characterized by rapid technological advancements and increasing applications.

  • Market Size: USD 69.4 Billion by 2030; CAGR: 14.30%.
  • Drones enhance inspection efficiency for PV modules and wind turbines.
  • COVID-19 initially hindered growth, but recovery is anticipated.
  • Major investments in R&D and strategic mergers are driving market expansion.

Market Size & Forecast

Market Size USD 69.4 Billion by 2030
CAGR 14.30%
COVID-19 Impact Initial decline, recovery expected

Major Players

Microdrones (Germany), DJI (China), Aibotix GmbH Limited (UK), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), Aeryon Labs Plc. (UK), AeroVironment, Inc. (US), Ascending Technologies Inc. (Canada), Univision (Canada).

Drones Energy Industry Market Drivers

Cost Efficiency

Cost efficiency is a critical driver in the Global Drones Market for Energy Industry. Drones offer a more economical alternative to traditional inspection methods, such as helicopters or manual labor, which can be costly and time-consuming. By utilizing drones, energy companies can reduce operational costs and improve safety by minimizing the need for personnel in hazardous environments. This shift towards cost-effective solutions is reflected in the market's projected growth, with an expected CAGR of 13.39% from 2025 to 2035, as companies increasingly adopt drone technology to streamline their operations.

Regulatory Support

Regulatory frameworks are increasingly supporting the integration of drones into the Global Drones Market for Energy Industry. Governments worldwide are establishing guidelines that facilitate the safe operation of drones in various energy applications, such as power line inspections and wind turbine monitoring. For example, the Federal Aviation Administration in the United States has implemented regulations that allow for expanded drone usage in commercial sectors. This regulatory support is likely to drive market growth, as companies can leverage drones for more efficient operations while adhering to safety standards.

Environmental Monitoring

The demand for environmental monitoring is propelling the Global Drones Market for Energy Industry. Drones are increasingly utilized to assess environmental impacts, monitor emissions, and ensure compliance with regulations. For instance, drones can survey oil spills or track wildlife in energy development areas, providing critical data for environmental assessments. As energy companies face growing pressure to demonstrate sustainability, the use of drones for environmental monitoring is likely to expand. This trend aligns with the market's anticipated growth, reaching 135.4 USD Billion by 2035, as companies prioritize environmental stewardship.

Market Growth Projections

The Global Drones Market for Energy Industry is projected to experience substantial growth, with forecasts indicating a rise from 34.0 USD Billion in 2024 to 135.4 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 13.39% from 2025 to 2035. Such projections highlight the increasing adoption of drone technology across various energy sectors, driven by factors such as technological advancements, regulatory support, and the need for cost-effective solutions. As energy companies continue to embrace drone applications, the market is poised for significant expansion.

Data Analytics Integration

The integration of data analytics into drone operations is enhancing the value proposition of the Global Drones Market for Energy Industry. Drones equipped with sophisticated data collection tools can gather vast amounts of information, which can then be analyzed to optimize energy production and maintenance schedules. For example, predictive analytics can forecast equipment failures, allowing for proactive maintenance and reducing downtime. This capability is becoming increasingly vital as energy companies seek to maximize efficiency and minimize costs, contributing to the overall growth of the market.

Technological Advancements

The Global Drones Market for Energy Industry is experiencing rapid technological advancements that enhance operational efficiency and data collection capabilities. Innovations such as improved battery life, advanced sensors, and AI-driven analytics are transforming how energy companies conduct inspections and maintenance. For instance, drones equipped with thermal imaging can identify energy losses in solar panels, leading to more efficient energy production. As these technologies evolve, the market is projected to grow significantly, with a valuation of 34.0 USD Billion in 2024, indicating a robust demand for drone applications in the energy sector.

Key Companies in the Drones Energy Industry Market market include

Industry Developments

On March 15, 2024, DJI released the Inspire 3, an advanced drone specifically designed for filmmakers and content creators. The drone comes with advanced stabilization feature powered by AI processor which augurs well for aerial shoot videography.

In February 2024, Amazon Prime Air added new cities in Europe and the US to its drone delivery program. This initiative is aimed at minimizing the time frame between the customer order placement and delivery through new multipurpose drones that can transport heavy goods.

In January 2024, Zipline forged an alliance with the United Nations on a particular venture the goal of which is to transport medical products and vaccines to hinterlands of Africa using drones. Extended range and durability have been incorporated in the drone models used in this program to make them reliable in difficult settings.

In December 2023, Parrot launched its latest series of agricultural drones equipped with multispectral cameras and AI analytical systems, everything geared towards the trend in agriculture today which requires drones that can enhance the services of pest control, crop monitoring and yield estimation.

In November 2023, Skydio won a contract with the US Department of Defense worth 200 million dollars for the provision of autonomous drones which will be used in reconnaissance and surveillance tasks. Such contract reflects the trend that more high-tech arms and ammunitions that rely on artificial intelligence will be sought by the military.

In October 2023, Wing – a subsidiary of Alphabet, Inc – disclosed the successful trials of its voice-controlled drone lockers. This development enables clients to have their parcels packed in safe lockers with drone systems which makes their delivery process both easy and safe.

In September 2023, Indian Authorities announced the new incentives intended for indigenous drone builders under the Make In India initiative. This is geared towards boosting local innovation and production in the drone sector as demand in agriculture, logistics and defence expands.

Future Outlook

Drones Energy Industry Market Future Outlook

The Drones Market for Energy Industry is projected to grow at a 13.39% CAGR from 2024 to 2035, driven by technological advancements, regulatory support, and increasing demand for efficient energy solutions.

New opportunities lie in:

  • Develop AI-driven analytics for drone data to enhance operational efficiency in energy sectors. Create specialized drones for renewable energy site inspections, focusing on solar and wind farms. Implement drone delivery systems for critical energy infrastructure components, reducing downtime and maintenance costs.

By 2035, the market is expected to be robust, reflecting substantial growth and innovation in drone applications for the energy sector.

Report Scope

Attribute/MetricDetails
Market Size 2023Significant Value
Market Size 2030USD 69.4 Billion
Compound Annual Growth Rate (CAGR)14.30% (2023-2030)
Base Year2021
Market Forecast Period2023-2030
Historical Data2019- 2020
Market Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments CoveredDrone Type, By Industry Type, Application, Technology,Region
Geographies CoveredNorth America, Europe, Asia Pacific, and the Rest of the World
Countries CoveredThe U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies ProfiledMicrodrones (Germany), DJI (China), Aibotix GmbH Limited (UK), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), Aeryon Labs Plc. (UK), AeroVironment, Inc. (US), Ascending Technologies Inc. (Canada), Univision (Canada).
Key Market OpportunitiesEnergy industry highly requires drones due to their nature of cost-effectiveness, accuracy, reliability, and flexibility
Key Market DynamicsSubstantial growth has been observed due to advanced inspection techniques

Market Highlights

Author
Swapnil Palwe
Team Lead - Research

With a technical background as Bachelor's in Mechanical Engineering, with MBA in Operations Management , Swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. He is the POC for our clients, for their consulting projects running under the Automotive/A&D domain. Swapnil has worked on major projects in verticals such as Aerospace & Defense, Automotive and many other domain projects. He has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.

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FAQs

What is the Forecast Market Size of Drones in Energy Sector?

Drones Market for Energy Industry Estimated at USD 69.4 Billion By 2030 at a CAGR Of 14.30%.orecast period 2023-2030

Who Are Top Key Vendors in Drones Market for Energy Industry ?

Microdrones (Germany),,DJI (China), ,Aibotix GmbH Limited (UK), ,Drone America (US), ,Draganfly Innovations Inc. (US), ,ING Robotic Aviation (Canada),,Aeryon Labs Plc. (UK),,AeroVironment, Inc. (US),,Ascending Technologies Inc. (Canada), ,Univision. (Canada).

What Are the Drivers and Restraints of Drones Market in Energy Sector?

The growth of the Drones Market for Energy Industry is majorly influenced by the complexity in inspection & monitoring of remote and discrete systems. However, the federal regulations limiting the usage of drones and lack of technological advancements for processing the raw data are restraining the growth of the Drones Market for Energy Industry.

What Are the Major Regions Dominating Global Drones Market in Energy Sector?

Asia-pacific is the Largest Power Producer Globally and is the Largest Market for Renewable Energy Generation Across the Globe. The Drones Market for Energy Industry is emerging in countries such as China, India, and Japan, and is estimated to grow at a high rate in the forecast period.

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