DUBLIN--(BUSINESS WIRE)--The "Renewable Drones Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global renewable drones market is evaluated at US$75.194 million for the year 2020 growing at a CAGR of 28.51% reaching the market size of US$338.691 million by the year 2026.
Renewable drones are the type of drones which are used in the renewable energy industry for various purposes. The advent of drones in the renewable energy industry is still evolving with different applications emerging with time. For instance, a 4-5 acres of solar farm is needed to produce about 1MW of power which implies there is a need to build larger solar farms to diminish the increasing demand of energy from renewable sources.
A drone plays a vital role in developing a solar farm at such a large scale by helping in the initial planning of the site, in creating a proper layout of the plan, providing aerial data and the information about the mapping of the area. A drone can also be used for regular inspections of such a huge farm which is more complex and difficult humanly. With the increasing awareness about the roles a drone plays in the building up of solar and wind farms at such large scale is expected to drive the market in the coming years.
An immense use of the drones in wind farms is expected to drive the market during the forecast period. For instance, the Rampion offshore windfarm covers almost 30 square miles off the southern coast of England. England has about 35 of such wind farms making it one of the biggest wind powers generating country.
According to the future plans stated by the government, the country is expected to quadruple the offshore wind power by 2030. With development at such a rapid pace, the demand for drones in the industry is expected to witness a significant growth in the coming years for various applications. The usage of drones on the farms are an investment at first as they turn out to be more efficient in the longer run reducing the cost incurred and the probability of human errors as well.
The drones with thermal imaging cameras are used significantly owing to their ability to indicate the operator remotely if a certain equipment isn't working as effectively as others. This makes it easier for the operator to detect the fault and make amends accordingly. A key factor driving the renewable drone's market is their increasing use for security purposes. Operating a large renewable energy farm makes it difficult for the operator to keep in check every activity taking place in the premises due to which a number of such farm operators are opting to use drones to keep the area in check.
The advent of COVID-19 had an adverse impact on the market since the pandemic brought the activities in various industries to a standstill including the development of such renewable energy plants across several countries and slowed the growth of the renewable drone's market to a significant level in the year 2020.
With the industries getting back on the track and recovering after suffering losses due to the pandemic, the renewable energy projects that were unable to continue the processes due to lockdown are expected to resume in the coming months. The growth of the renewable drone's market is expected to show gradual increase initially but is expected to witness rapid growth after the industries resume full-fledged activities during the forecast period owing to the increasing demand of renewable energy across the world.
The players in the renewable drones market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Renewable drones Market Analysis, by Type
5.3. Fixed wing
6. Renewable drones Market Analysis, by Solution
6.2. End-to-end solution
6.3. Point solutions.
7. Renewable drones Market Analysis, by End user
7.2. Solar power plants
7.3. Wind power plants
8. Renewable drones Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
- SZ DJI Technology Co., Ltd.
- Drone Volt Group
- DroneDeploy, Inc
- ABJ Renewables
- Nano Net Technologies Inc.
- SPH Engineering.
- ideaForge Technology Pvt.Ltd.
- Terra Drone Corporation
For more information about this report visit https://www.researchandmarkets.com/r/1s7fng