Press release
Inspection Drones Market to Witness an Outstanding Growth during 2019 - 2027
Global Inspection Drone Market: OverviewAccording to a new research report pertaining to the inspection drone market, published by Transparency Market Research the global inspection drone market is expected to reach a value of ~ US$ 32 Bn by 2027, expanding at a CAGR of ~ 23% from 2019 to 2027. According to the report, the global market would continue to be influenced by a range of macroeconomic and market-specific factors during the forecast period.
Rise in Demand for Inspection Drones in Oil & Gas Industry
• Inspection drones are part of the large shift toward the automation of tasks in the oil & gas industry. Different end-use industries, including oil & gas, are increasingly using inspection drones for a wide variety of applications. Inspection drones can be used on any part of a platform, wherein, inspections typically require scaffolding or rope access.
• Moreover, advanced drone technology is helping end-use industries save on costs and time, while improving efficiency and safety to optimize production. Increasing investments and rising demand for inspection drones in the oil & gas industry are expected to drive the global inspection drone market during the forecast period.
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• Inspection drones can collect data by using various sensors and thermal cameras. Inspection drones efficiently eliminate delays in human-conducted inspections and the time spent attending to unnecessary accidents. Across the globe, inspection drones are used to carry out offshore and onshore oil derrick inspections, vertical structure inspections, flare stack inspections, oil spill detections, offshore inspections, tailings pond inspections, monitoring of gas emissions, and damage assessment. Rising investments toward the expansion and modernization of the oil & gas industry are expected to drive the market for inspection drones during the forecast period.
Military & Defense to Account for a Leading Share of Global Inspection Drone Market
• The report offers detailed segmentation of the global inspection drone market in terms of component (mainframes, brushless motors & electronic speed controllers (ESC), transmitters & receivers, flight controllers, and others), sales channel (online and offline), application (oil & gas pipeline inspection, solar panels, power line and windmill inspection, critical infrastructure inspection, railways, roadways and bridge inspection, border security, and others), and end-use industry (oil, gas and petroleum, energy & utilities, military & defense, mining & construction, transportation, and others). The global inspection drone market has also been segmented based on region (North America, Europe, Asia Pacific, South America, and Middle East & Africa).
• Among the end-use industries, the military & defense segment accounted for a leading share of the global inspection drone market in 2018. The segment is anticipated to maintain its leading position in the global market during the forecast period as well.
• Increase in the demand for border security is likely to be a major factor driving the global inspection drone market during the forecast period. Currently, major drone manufacturers are setting up drone pilot projects.
• Different commercial applications such as critical infrastructure inspection, wildlife observation, railway track inspection, and bridge inspection are becoming easier with the help of inspection drones. Thus, commercial services based on inspection drones are gaining momentum, which is expected to drive the global inspection drone market during the forecast period.
High Investments and New Product Development by Key Players to Boost Global Inspection Drone Market
The report contains the profiles of the leading players operating in the global inspection drone market. These include 3D Robotics, Inc., Acecore Technologies, AeroVironment, Inc., Airobotics Ltd., Aeryon Skyranger, Intel Corporation, Lockheed Martin, SZ DJI Technology Co., Ltd., Yuneec International, Delair Aerial Intelligence, and AltiGator.
• In May 2019, 3D Robotics, Inc. announced to have entered into a distribution partnership with Wingtra, a Europe-based manufacturer of VTOL (vertical take-off and landing) drones. As per this agreement, both companies would be supplying aerial surveying drones to a wide range of industries, particularly mining and construction.
• In June 2019, AeroVironment, Inc. acquired VTOL UAS Developer Pulse from Aerospace, LLC for US$ 25.7 Mn, to widen its portfolio of small unmanned aircraft systems.
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Global Inspection Drone Market: Segmentation
The global inspection drone market has been segmented as follows:
Inspection Drone Market by Component
• Mainframes
• Brushless Motors & ESCs
• Transmitters & Receivers
• Flight Controllers
• Others
Inspection Drone Market by Sales Channel
• Online
• Offline
Inspection Drone Market by Application
• Oil & Gas Pipeline Inspection
• Solar Panel, Power Line and Windmill Inspection
• Critical Infrastructure Inspection
• Railway, Roadways, and Bride Inspection
• Border Security
• Others
Inspection Drone Market, by End-use Industry
• Oil, Gas & Petroleum
• Energy & Utilities
• Military & Defense
• Mining & Construction
• Transportation
• Others
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports thrive to provide clients to serve their overall research requirement.
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