Drone Inspection And Monitoring Market 2023 Fundamentals and expected to raise moderately over 2031

The global drone inspection and monitoring market revenue was US$ 7.47 billion in 2021. The global drone inspection and monitoring market revenue is forecast to reach US$ 35.15 billion by 2030, growing at a compound annual growth rate (CAGR) of 16% during the forecast period from 2022-2030.

The drone inspection and monitoring concept apply to inspection, monitoring, and mapping operations. Companies can use this platform to plan and conduct operations, monitor drones in real-time, and create reports and analyses directly from their offices.

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Factors Influencing Market Growth

An increase in the demand for safe, accurate inspection and monitoring devices and technological advancements in drones are forecast to drive growth in the global drone inspection and monitoring market.The increase in the use of drones for remote visual inspections of critical infrastructure is boosting the overall drone inspection and monitoring market growth.

The lack of trained personnel to operate drones for inspection and monitoring applications has a negative impact on the global drone inspection and monitoring industry.

As lidar technology advances for commercial drones, lucrative opportunities are forecast for the global drone inspection and monitoring market.

Impact Analysis of COVID-19

COVID-19 outbreak spread increased the demand and use of drones, as their benefits outweighed the risks and difficulties of using them. Many countries use them for delivering vaccines for COVID-19 as well as inspecting and monitoring outbreaks in remote areas. Throughout the world, police officers and government officials use drones to accomplish remote policing and impose social distancing.

Lockdowns have been imposed worldwide, along with social distancing protocols. Consequently, drone production was interrupted due to a shortage of raw materials and personnel in 2020. Similarly, in 2021, due to the reemergence of the second wave of infections, drone production suffered, and it may take more than six months for the drone supply chain to resume normal functioning.

Regional Insights

During the forecast period, Asia Pacific is forecast to register the highest CAGR for drone inspection and monitoring market. Growing economies like China and India use drones for inspection and monitoring tasks in agriculture and utilities, thus contributing to the growth of this regional market.

North America is forecast to be the largest market during the forecast period. Drones can perform a number of functions without human assistance due to the incorporation of artificial intelligence, such as takeoff, navigation, data collection, transmission, and data analysis. Thus, growing advances in artificial intelligence, sense and avoid systems, and cloud computing technologies contribute to the regional market growth.

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Leading Competitors

The leading prominent companies profiled in the global drone inspection and monitoring market are:

American Robotics, Incorporated
AeroVironment Incorporated
AgEagle Aerial Systems Incorporated
SZ DJI Technology Co., Limited
Israel Aerospace Industries
Microdrones
Parrot Drones SA
PrecisionHawk
Trimble Incorporated
Yamaha Motor Corporation
Other Prominent Players

Scope of the Report

The global drone inspection and monitoring market segmentation focuses on Solution, Type, Operation Mode, Application, and Region.

Segmentation based on Solution

Platform
Airframe
Avionics
Propulsion
Payload
Software
Infrastructure
Services

Segmentation based on Type

Fixed Wing
Multirotor
Hybrid

Segmentation based on Operation Mode

Remotely Piloted
Optionally Piloted
Fully Autonomous

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Segmentation based on Application

Construction & Infrastructure
Oil & Gas
Mining
Agriculture
Utilities
Others

Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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