Press release
Oil And Gas Drones Market 2024 -2033: Global Outlook, Industry Share, Business Growth And Major Players
Oil And Gas Drones Market
The oil and gas drones market size is expected to see exponential growth in the next few years. It will grow to $31.21 billion in 2028 at a compound annual growth rate (CAGR) of 35.1%. The growth in the forecast period can be attributed to shift towards autonomous drone operations and swarm technology, increasing use of hyperspectral imaging for asset inspection and environmental monitoring, growth of data analytics and predictive maintenance capabilities for drone-collected data, expansion of drone applications beyond inspection. Major trends in the forecast period include integration of artificial intelligence and machine learning in drone systems, development of long-range and endurance drones for extended surveillance, adoption of drones for methane detection and emissions monitoring, expansion of offshore drilling activities.
Market Overview -
Oil and gas drones typically refer to unmanned aerial vehicles (UAVs) or drones specifically designed and utilized within the oil and gas industry. These drones are used to inspect pipelines for leaks, corrosion, and other structural issues, reducing the need for manual inspections, which can be time-consuming and dangerous. It is also useful in monitoring oil and gas facilities, such as refineries and drilling rigs, for security purposes and to detect any operational irregularities.
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Government Investment Driving Growth In The Oil And Gas Drone Market
The increase in government investment is expected to fuel the growth of the oil and gas drones market going forward. Government investment refers to the allocation of funds by a government towards various projects, initiatives, or sectors to achieve specific objectives such as economic development, infrastructure improvement, innovation promotion, or social welfare. Government investment plays a crucial role in shaping the trajectory of drone technology adoption in the oil and gas sector by fostering innovation, facilitating collaboration, addressing regulatory challenges, and supporting the development of necessary infrastructure. For instance, in July 2022, according to the Department of Business Energy and Industrial Strategy and the Department of Transport, a UK-based government federal agency, between 2020 and 2022, government grants totaling $43.83 million (£34 million) supported diverse innovative projects, including COVID drone response and hospital logistics solutions, leading to advancements in offshore and onshore oil and gas drone capabilities. Therefore, the increase in government investment is driving the oil and gas drones market.
Competitive Landscape -
Major companies operating in the oil and gas drones market are The Boeing Company, GE Aviation, BAE Systems plc, Yamaha Motor Co. Ltd., DJI Enterprise, AeroVironment Inc., Yuneec International, Skydio Inc., XAG Co. Ltd., senseFly SA, Microdrones GmbH, Flyability SA, Quantum-Systems GmbH, Shenzhen Autel Robotics Co. Ltd., PrecisionHawk Inc., Teal Drones Inc., Ascending Technologies Inc., Freefly Systems Inc., Aeryon Labs Inc., Vantage Robotics Inc., Garuda Robotics Private Limited, Guangzhou EHang Intelligent Technology Co. Ltd., Volansi Inc
Pioneering Integrated Drone Solutions For Enhanced Efficiency And Safety
Major companies operating in the oil and gas drones market are focused innovative solutions, such as integrated drone solutions, to increase their profitability in the market. Integrated drone solutions are driving innovation and transformation in the oil and gas industry by empowering companies to leverage advanced aerial technologies for improved efficiency, safety, and decision-making capabilities. For instance, in March 2023, Asteria Aerospace, an India-based drone technology company, launched SkyDeck. SkyDeck is an end-to-end drone operations platform designed to streamline drone operations across multiple industries, including oil and gas. This cloud-based software offers a range of services, such as fleet management, flight scheduling, data processing, and visualization, all of which can significantly influence the use of drones in the oil and gas sector. SkyDeck's integrated drone solutions can have a significant impact on the oil and gas sector by enhancing safety, efficiency, and decision-making processes related to drone operations.
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Key Segments -
The oil and gas drones market covered in this report is segmented -
1) By Type: Single Rotor, Multi Rotor, Fixed Wing, Hybrid And Nano
2) By Applications: Inspection, Security And emergency response, Surveying And mapping
3) By End-Use: Construction, Agriculture, Mining, Oil And Gas, Other End-Use
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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