Global Oil and Gas Drones Market Value forecast, New Business Opportunities and Companies: Outlook by Type, Application, by End User and by Country, 2020-2027

Worldwide Market Reports added “Oil and Gas Drones Market” to its vast collection of research Database. The report classifies the Global Oil and Gas Drones Market in a precise manner to offer detailed insights into the aspects responsible for augmenting as well as restraining market growth.

Drones in oil and gas industry are used for surveillance and remote monitoring. This monitoring covers equipment, trucks and tankers, infrastructure, pipelines, and refineries. These drones can be effortlessly employed around oil rigs, pipelines, and flare stacks. The global oil and gas drones market is expected to grow at a high rate due to increasing advancements in technology and growing opportunities in oil and gas industries.

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Advancements in technology, integration of Artificial Intelligence in drones, and thermal imaging and methane gas detection are the major factors driving growth of the global oil and gas drones market. The need for infrastructure in oil and gas industry such as pipeline and refinery is expected to grow in the future market, therefore presenting greater opportunity for the oil and gas drone service providers. Moreover, major players in the market are focusing on adopting collaboration strategies in order to bring advancements to drones, which is also expected to aid the market growth. For instance, in July 2018, Boeing and Tata Advanced Systems Limited signed an agreement to collaborate in manufacturing unmanned aerial vehicles (drones).

Lower speed, shorter flight time, susceptible to hacking, and vulnerability to weather are the factors restraining growth of the global oil and gas drones market.

Regional insights:

North America dominates the global oil and gas drones market due to increasing offshore oil and gas activities in the United States. Moreover, the US government is also focusing on development of offshore activities regarding oil and natural gas.

Competitors section:

Key players of the global oil and gas drones market are Lockheed martin, FLIR Systems, BAE Systems, Altavian Inc., Aerovironment Inc., Dragonfly Innovations, The Boeing Company, Proxy Technologies, Leonardo S.P.A., Textron, and Aeryon Labs.

In January 2019, FLIR Systems acquired Aeryon Labs for US$ 203 million.

In December 2019, Lockheed Martin and Canadian UAVs signed a memorandum in order to improve unmanned beyond visual line of sight operations.

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