Drone Inspection and Monitoring Market by Solution (Platform, Software, Infrastructure And Service), Type (Fixed Wing, Multirotor, Hybrid), Applications (Constructions & Infrastructure, Agriculture), Mode Of Operations & Region - Global Forecast to 2027

The drone inspection and monitoring market is projected to grow from USD 11.6 Billion in 2022 to USD 23.0 Billion by 2027, at a CAGR of 14.6% from 2022 to 2027.
Drones are increasingly used for monitoring and inspection by industries as part of their maintenance practices. A visual inspection is essential to ensure the appropriate maintenance of a company's resources. Drones are used for pipeline and infrastructure inspection, wildlife population & activity monitoring and inspection, remote infrastructure and aircraft monitoring, agricultural yield inspection, oil & gas sector inspection, and utilities inspection, among various other applications.
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The following sections discuss the market dynamics such as drivers, restraints, opportunities, and challenges pertaining to the drone inspection and monitoring market. There is an increasing demand for drones for inspection and monitoring due to their accuracy, efficiency, cost-effectiveness, and safety benefits. These factors are anticipated to fuel the growth of drone providers, namely Intertek Group plc (UK), MISTRAS Group, Inc (US), Wipro (India), Lockheed Martin Corporation (US), Intel Corporation (US), ideaForge (India) and several others.
Drone cameras usually perform the task of a human eye during inspection and monitoring applications. By employing drones to accumulate visual data, inspectors can avoid visiting hazardous areas or sites like scaffolding, chemical spills, or a tall, lean tower.
Key Market Players
The major players in the drone inspection and monitoring market are Intertek Group plc (UK), MISTRAS Group, Inc. (UK), Wipro (India), Lockheed Martin Corporation (US), and Intel Corporation (US). These players have adopted various growth strategies such as contracts, acquisitions, agreements, expansions, investments, and new product launches to further expand their presence in the drone inspection and monitoring market.
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Based on solution, the drone inspection and monitoring market has been segmented into platform, software, infrastructure, and services. The user's flight experience and photo editing/taking experience can be enhanced using various drone-based software. The drone inspection and monitoring market by software is segmented into route planning and optimization, inventory management, live tracking, fleet management, and computer vision & object detection depending on the application area.
Based on type, the drone inspection and monitoring market has been segmented into fixed-wing, multirotor, and hybrid. The multirotor drones are usually outfitted with two, three, four, six, or eight rotors and are known as bicopters, tricopters, quadcopters, hexacopters, and octocopters, respectively. Quadcopters are the most conventional design of multirotor drones. Their stabilizing process is less complicated than tricopters. They have fewer parts (implying less manufacturing costs) than hexacopters or octocopters.
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The break-up of the profiles of primary participants in the Drone inspection and monitoring market is as follows:
• By Company Type: Tier 1-35%; Tier 2-45%; and Tier 3-20%
• By Designation: C Level Executives-35%; Directors-25%; and Others-40%
• By Region: Asia Pacific-30%; North America-30%; Europe-20%; Middle East-10%; and Rest of the World-10%
Frequently Asked Questions (FAQ):
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This release was published on openPR.