Drones for Energy Industry Market to Grow at 8.5% Annually during 2017 to 2023

Market Highlights:

Market Research Future published a Half Cooked Research Report on Global Drones for Energy Industry Market. The Drones for Energy Industry Market is expected to grow over the CAGR of around 8.5% during the period 2017 to 2023.

Drone technology has transformed aerial survey and inspection services and they are increasingly used in on and offshore industries in the recent years. Use of drones are extremely safe as they avoid the use of rope access inspections in oil and gas industry that take much longer time and result in huge costs. Drone inspections enable to gather critical data for asset integrity management in oil and gas installations. These data collection has been a real game changer, giving a more time- and cost-efficient way of ensuring asset integrity. Moreover, doing this on a regular basis allows for detailed monitoring and planning while reducing risks for operating personnel. More importantly, drone inspections enable operators to avoid unplanned shutdowns. Operators get data on the true state of a particular operational asset, which allows them to address an issue at the first sign of an issue.

Key Players:

The Major Players Operating in Drones for Energy Industry Market are AeroVironment, Inc. (US), Aerovel Corporation (USA), BAE Systems Plc. (UK), Cyberhawk Innovations Limited (UK), Draganfly Innovations Inc.(Canada), ING Robotic Aviation (Canada), Lockheed Martin (US), Northrop Grumman Corporation (US), Proxy Technologies Inc. (US), Sky-Futures (UK) and VDOS Global LLC(U.S.)

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Market Research Analysis:

Oil and Gas Industry is Expected to Grow at the Highest Rate:
With unexpected drop in crude oil prices, the oil and gas industry is finding ways to cut costs incurred in exploration and inspection activities and drones are increasingly seen as the smart tech to make cost savings. The growing utilization of drones in the oil and gas segment is due to the ability of drones to inspect pipeline faults and predict operational failures. Moreover, drones are used to access remote regions to find new potential deposits and oil sources. Drones can also carry additional sensors such as thermal cameras, ultrasonic sensors, and laser scanners, which further aids in oil and gas inspection activities.

Scope of the Report:

This study provides an overview of the global drones for energy industry market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.

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The scope of the study segments the Global Drones for Energy Industry Market by Industry Type, Application, Drone Type and by Region.

Global Drones for Energy Industry Market, By Industry Type:

• Oil and Gas
• Power and Utilities
• Clean Energy

Global Drones for Energy Industry Market, By Application:

• Rig Inspection
• Pipeline leak and spillage response
• Security and surveillance

Global Drones for Energy Industry Market, By Drone Type:

• Fixed Wing Drone
• Rotary Blade Drone
• Nano Drone
• Hybrid Drone

Global Drones for Energy Industry Market, By Region:

• Europe
• North America
• Asia-Pacific
• Rest of the world

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This release was published on openPR.