Global Utility Drones Market 2018-2023 by Services (End-to-End Solution and Point Solution), Type (Multi-Rotor and Fixed Wing), End-user (Power, and Renewable) - ResearchAndMarkets.com

DUBLIN--()--The "Utility Drones Market by Services (End-to-End Solution and Point Solution), Type (Multi-Rotor and Fixed Wing), End-user (Power (T&D and Generation), and Renewable (Solar and Wind)), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The utility drones market is projected to reach USD 538.6 million by 2023, from an estimated USD 110.2 million in 2018, at a CAGR of 37.34% from 2018 to 2023.

This growth can be attributed to the rising demand for minimizing outages related to transmission and distribution infrastructure, focus on time and cost efficiency, and reachability in hazardous locations. Legal regulations set by Federal Aviation Administration (FAA) can hinder the growth of the market. These regulations, in particular, exclude drone operations in some circumstances such as Beyond Visual Line-Of-Sight (BVLOS), over long distances, or at night. Considering that FAA has not maintained a pace with the fast-growing drone technologies, utility companies have not been able to utilize all the benefits of drones to improve the efficiency and effectiveness of infrastructure inspection and disaster recovery efforts.

The renewable end-user segment is expected to grow at the highest CAGR during the forecast period. Increasing investments in renewable energy sources to curb CO2 emissions and the growing need for access to electricity are the major factors driving the growth of the renewable segment of the utility drones market.

North America is estimated to be the largest market for utility drones in 2018 and is projected to grow at the highest CAGR during the forecast period. Continuous investments in power infrastructure, increasing power consumption, and subsequently increasing focus on renewable power generation are the key factors driving the growth of utility drones in the region. The US accounted for the largest share of the utility drones market in North America in 2017 and has the highest CAGR during the forecast period. Almost all the countries in the region are augmenting their renewable generation capacities. The need of monitoring extra connections in linking solar and wind parks to grids, is forcing utility companies to adopt much more advanced technology for maintenance and inspection of assets.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Utility Drones Market, By Type

7 Utility Drones Market, By Services

9 Utility Drones Market, By End-User

10 Utility Drones Market, By Region

11 Competitive Landscape

12 Company Profiles

  • Aerodyne
  • Asset Drone
  • ABJ Drones
  • Cyberhawk
  • Delair
  • Hemav
  • Measure
  • Terra Drone
  • Sky-Futures
  • Precisionhawk
  • Sharper Shape
  • Sky Scape
  • ULC Robotics

For more information about this report visit https://www.researchandmarkets.com/research/b7wlmc/global_utility?w=4

Contacts

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Laura Wood, Senior Manager
press@researchandmarkets.com
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For GMT Office Hours Call +353-1-416-8900
Related Topics: Utilities, Unmanned Aerial Vehicles (UAVs) - Drones

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Utilities, Unmanned Aerial Vehicles (UAVs) - Drones