DUBLIN--(BUSINESS WIRE)--The "Global Utility Drones Market By Type (Multi-Rotor & Fixed Wing), By Services (End-to-End Solution & Point Solution), By End-User, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global utility drones market is forecast to grow at a CAGR of over 30% during the forecast period, owing to the rising demand to minimize service time and cost efficiency and increase reachability in dangerous locations.
Objective of the Study
- To analyze and forecast the global utility drones market size.
- To forecast the global utility drones market based on type, services, end-user and regional distribution.
- To identify drivers and challenges for the global utility drones market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global utility drones market.
- To conduct the pricing analysis for the global utility drones market.
- To identify and analyze the profile of leading players operating in the global utility drones market.
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
A few years back, drones were mostly used in military and defense industry; however, their adoption is growing to a wide range of civilian roles, starting from surveillance, search and rescue, firefighting, traffic monitoring and weather monitoring, to business drone-based and personal drone-based agriculture, videography, photography and even delivery services.
Utility drones are expected to have a huge impact in the power & utility sector over the next few years. Operators in the energy industry are finding the drone technology quick, accurate, cost-effective and easy, owing to powerful computers, improved efficiency and affordable drone technology, which in turn is boosting the utility drones market growth, globally.
Based on type, the global utility drones market has been categorized into multi-rotor and fixed wing. The multi-rotor type accounted for largest share in the global market in 2018 and is anticipated to maintain its market dominance during the forecast period, as they are cheap and readily available in the market. The multi-rotor drones are also used for aerial inspection and photography, which is expected to boost its growth during the next five years.
North America accounted for a significant portion of the global utility drones market in 2018. The regional growth can be attributed to increasing emphasis on research & development activities and presence of major vendors, particularly in countries such as the US and Canada. Moreover, innovations in drone analytics along with favorable government regulations in the region are anticipated to fuel the regional market.
The Asia-Pacific region with its emerging economies such as China and India is also anticipated to offer lucrative growth opportunities to utility drone providers. Increasing private funding and investments in the development of power infrastructure, establishment of long transmission lines and adoption of renewable energy sources are the primary factors likely to positively influence the utility drones market in the region.
Some of the leading players in the global utility drones market are Aerodyne SYSTEMS SDN BHD, Asset Drone, Cyberhawk Innovations Limited, ABJ Drones, etc.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Brand Awareness
4.2. Brand Recall
4.3. Brand Satisfaction
4.4. Factors Influencing Purchase Decision
4.5. Challenges/Issues Faced Post Purchase
4.6. Unmet Needs
5. Global Utility Drones Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Multi-Rotor & Fixed Wing)
5.2.2. By Services (End-to-End Solution & Point Solution)
5.2.3. By End-User (Power - Generation, Transmission & Distribution & Renewable - Solar, Wind)
5.2.4. By Company
5.2.5. By Region
5.3. Market Attractiveness Index
6. Asia-Pacific Utility Drones Market Outlook
7. Europe Utility Drones Market Outlook
8. North America Utility Drones Market Outlook
9. South America Utility Drones Market Outlook
10. Middle East & Africa Utility Drones Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (As reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus and Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1 Aerodyne Systems Sdn. Bhd.
13.3.2 Asset Drone
13.3.3 Cyberhawk Innovations Limited
13.3.4 ABJ Drones
13.3.6 Terra Drone Corporation
13.3.7 Sky-Futures Ltd.
13.3.10 Sharper Shape Ltd.
14. Strategic Recommendations
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