Market Overview:
Global Inspection Drones Market was valued at USD 10.41 Billion in 2021 and is expected to reach USD 27.78 Billion by the year 2028, at a CAGR of 15.05%.
The drone inspection process is more well-organized, closely monitored and controlled, cost-effective, and safe, which improves corporate operations without interruption. The drone inspection services for visual inspection offer advantages such as preventive maintenance planning and optimized production, access to areas that pose a health, authorized and qualified UAV-inspection personnel, safety and environmental risk to humans, an inspection of difficult-to-access areas, rapid on-site deployment of the drone inspection system, and decreased downtime. During the projected period, the increasing deployment of inspection drones in the industrial sector will accelerate market expansion.
Players Covered in Inspection Drones market are :
DJI, MIR Innovation, Airwing, MicroMultiCopter Aero Technology, Parrot, JYU, AEE, 3D Robotics, AscTec, XAIRCRAFT, Zero Tech, AeroVironment and other major key players.
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Market Dynamics:
Driver:
Drones are employed on offshore platforms, well sites, pipelines, and storage tanks. In addition, they are used in big industrial operations with boilers, reactors, and other gigantic buildings. Drones detect risks, which can minimize the inspection's duration and expense. The incorporation of AI/ML, high-resolution cameras, infrared imaging, GPS, and LIDAR into inspection drones increases their effectiveness. As network operators migrate to the 5G platform, the telecommunications sector has been undergoing a period of fast upheaval. This is expected to propel the inspection drone market further.
Opportunities:
The introduction of novel drones by market leaders presents an opportunity for the inspection drones market. For instance, DJI, offers Matrice 300 RTK inspection drones for the oil and gas industry to deliver real-time data, allowing maintenance crews to make prompt choices. The M300 RTK is fitted with a mechanism for avoiding obstacles from all directions. It decreases collision risk in the most hazardous setting. Additionally, it is coupled with the M300 RTK, which features an omnidirectional obstacle avoidance system. These innovative drones are expanding the market for drone inspection and surveillance.
Segmentation Analysis of Inspection Drones Market:
Based on Component, the transmitters & receivers’ segment is the expected dominant segment of the inspection drone's market. Among the components, the flight controllers' segment is anticipated to hold the second-largest share of the global inspection drones' market, concerning the revenue, over the forecast period.
Based on the Distribution Channels, the inspection drones' market has been classified into online and offline. The offline sales channel segment is anticipated to continue its dominance during the projected period.
Based on the End-User, the military & defense segment dominates the global inspection drones market and is expected to continue its dominance over the forecast period. Over the world, investments toward the development of power grid infrastructure, and the growth and advancement of renewable energy infrastructure are growing. This factor is also anticipated to increase the adoption of inspection drones in the upcoming years.
Based on the Application, the border security application segment is expected to dominate the market during the forecast period owing to highly beneficial for the monitoring and surveillance at the border of the country to defend from any hazardous activities.
By Type
· Transmitters & Receivers
· Mainframe
· Brushless Motors & ESC
· Flight Controllers
By Application
· Oil & Gas Pipeline Inspection
· Critical Infrastructure Inspection
· Power Line & Windmill Inspection
· Border Security
· Others
By End-User
· Mining & Construction
· Energy & Utilities
· Oil, Gas & Petroleum
· Military & Defense
· Others
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Regional Analysis of Inspection Drones Market:
North America is anticipated to hold the maximum share of the global inspection drones market over the forecast period, owing to the early adoption of inspection drones in the region. Furthermore, Latin America and the Middle East & Africa hold a significant market share each. Nevertheless, these regions are anticipated to offer profitable opportunities to the inspection drones’ market over the forecast period.
By Region
· North America (US, Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Inspection Drones Market:
In September 2020, Parrot and Pix4D, leading professional photogrammetry and drone mapping software firm, broadcasted the newest generation ANAFI USA drones that are compatible with the Pix4D software suite.
In September 2020, Lockheed Martin introduced a range of unnerved air vehicles for the MQ-Next advancement package of the US Air Force.
In April 2021, DJI produced the latest DJI Air 2S. This compact camera drone is an all-in-one answer for effective flight. It is not only provided with state-of-the-art cameras but also with high-level-grade preprogrammed substance creation devices.
In May 2021, FLIR Systems gained a contract worth USD 15 million for Black Hornet Nano-UAV systems to be utilized in the US Army Soldier Borne Sensor Program. The improved nano-UAV is being used to build the squad and small unit-level surveillance and reconnaissance facilities as a part of this program.
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