Utility Drones Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Utility Drones Market Analysis
The Utility Drone Market is expected to rise at a CAGR of over 20 % during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, factors such as reducing time and cost in asset management and thus decreasing the number of equipment failures are likely going to drive the utility drone market.
- On the other hand, technical drawbacks such as limited battery backup for being in the air are expected to restrain the utility drone market.
- Nevertheless, technological development in drones, such as automation and an increase in payload-carrying capacities, are expected to create several future opportunities for the utility drone market.
- Asia-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments in power generation, distribution, and transmission networks in the countries of this region, including India, China, and Australia.
Utility Drones Market Trends
This section covers the major market trends shaping the Utility Drone Market according to our research experts:
Fixed-Wing Segment to Witness Significant Growth
- Fixed Wing drones, as the name suggests, have one rigid wing designed to look and work like an aeroplane, providing lift rather than vertical lift rotors. Hence, this drone type only needs the energy to move forward and not to hold itself in the air, making them energy-efficient
- Fixed-wing drones can cover longer distances, map much larger areas, and loiter for long times monitoring their point of interest. Additionally, they can fly at a high altitude, carry more weight, and are more forgiving in the air than other drone types. Due to this, they can be used for power line and asset inspection in all kinds of weather and terrains over long periods.
- According to BP Statistical Review of World Energy, in 2021, the global electricity generation was about 28,466.3 Terawatt-Hour (TWh), up by 6.2% year-on-year and 10.1% since 2017. The increase in electricity generation depicts the worldwide increase in the number of power plants and transmission lines, which are expected to drive the fixed Wing segment of the utility drone market
- In August 2022, Florida Power & Light announced that it was testing a new fixed-wing, an unmanned drone that it plans to use to capture images and videos of assets to aid power restoration following a storm. Four trained pilots will remotely control FPLAir One from a mobile command center, and data will be relayed in real-time to identify issues and inform restoration crew deployments. According to the NextEra Energy utility, the aircraft is of the size of a small plane and can fly into tropical-storm-force winds. It can travel up to 1,000 miles in a single flight.
- Hence, owing to the above points, the fixed-rotor segment is likely to witness significant growth in the utility drone market during the forecast period.
Asia-Pacific Expected to Grow at a Significant Rate
- Asia-Pacific region, due to the constant increase in energy demand in the region, is likely to be the fastest-growing market for the utility drone market. Many big companies in the energy and power business in the region see utility drone usage as a new and safe way for their asset management.
- According to BP Statistical Review of World Energy, during 2021, Asia-Pacific's primary energy consumption stood at 272.45 EJ (ExaJoules), up by nearly 6.4% year-on-year. Additionally, over the period of 2016-2021, primary energy consumption has increased steadily at a CAGR of 1.73%.
- As energy demand increases, while most governments try to reduce power generation from polluting sources such as fossil fuels, most countries in the region are focused on reducing transmission and distribution losses and downtime in generation plants, which is a significant factor driving the demand for utility drone inspection services in the region during the forecast period.
- Countries such as China, Japan, South Korea, Australia, and India have shown keen interest in the utility drone market. The motives behind these interests are to save the non-productive time of the plants, which may occur due to any default by being proactive in any such situations and not risking human life.
- These drone services are extremely useful in places such as nuclear power plants or gas power plants, where the proper visual investigation is necessary to measure the seriousness of the problem.
- In November 2022, drone manufacturer Carbonix announced that it had partnered with electricity distributor SA Power Networks and communications group Nokia to utilize long-range Un-Crewed Aerial Vehicles (UAVs) for aerial inspection on remote electricity lines and network assets in South Australia. In the initial phase of the partnership, a Carbonix Volanti unmanned aerial vehicle (UAV) will be used to prove the Beyond Visual Line of Sight (BVLOS) capability using the Nokia Digital Automation Cloud (DAC) for wireless network connectivity.
- The UAVs are expected to speed up the utility providers' response times to outages affecting customers as well as asset inspection cycles, fault finding, bushfire preparedness, maintenance work, and line re-stringing while improving safety and efficiency for employees.
- Similarly, in November 2021, the Telangana state government in India announced that it had successfully completed a pilot project that sought to explore the use of drones for the inspection of power lines and towers. The project is expected to be scaled up soon.
- Hence, owing to the above points, Asia-Pacific is expected to see significant market growth in the utility drone market during the forecast period.
Utility Drones Industry Overview
The Utility Drone Market is moderately fragmented in nature. Some of the major players in the market (not in particular order) include SZ DJI Technology Co Ltd, Terra Drone Corp., PrecisionHawk Inc., Delair SAS, and Aerodyne Group.
Utility Drones Market Leaders
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Terra Drone Corp.
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PrecisionHawk Inc.
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Delair SAS
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Aerodyne Group
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SZ DJI Technology Co Ltd
*Disclaimer: Major Players sorted in no particular order
Utility Drones Market News
- November 2022: the New York Power Authority (NYPA) announced that the company would utilize Artificial Intelligence (AI) analytics to speed up and improve the detection of weak points requiring repair and take action to prevent costly outages. To make infrastructure images brought back by its inspection drones more manageable and useful, the NYPA has turned to AI tech startup Buzz Solutions, whose platforms considerably speed the analysis process while maintaining an accuracy rate of 85%.
- November 2022: specialist public safety and first responder drone consultancy Skyfire announced that it had successfully assisted wildfire-plagued utility Pacific Gas & Electric (PG&E) to obtain a Federal Aviation Administration waiver to operate Beyond Visual Line of Sight (BVLOS) infrastructure flights throughout the entire state of California to inspect the safety of the company's power facilities, transmission lines, and gas pipelines that cover over 70,000-square miles across California.
Utility Drones Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Force Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Technology
5.1.1 Multi Rotor
5.1.2 Fixed Wing
5.1.3 Others
5.2 Area of Application
5.2.1 Power Generation
5.2.1.1 Renewable
5.2.1.2 Non-Renewable
5.2.2 Power Distribution and Transmission
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 SZ DJI Technology Co Ltd
6.3.2 Terra Drone Corp.
6.3.3 PrecisionHawk Inc
6.3.4 Delair SAS
6.3.5 Power Drone
6.3.6 Australian UAV Pty Ltd
6.3.7 Sharper Shape Ltd.
6.3.8 Aerodyne Group
6.3.9 SkyScape Industries
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Utility Drones Industry Segmentation
Utility Drone providers constantly monitor their delivery systems to ensure that consumers and businesses can access the necessary utilities. Using an unmanned utility drone instead of a manned aircraft reduces the cost and improves the integrity of aerial utility inspections.
The Utility Drone Market is segmented by technology, area of application, and geography. By technology, the market is segmented into multi-rotor, fixed-wing, and others. By area of application, the market is segmented into power generation, distribution, and transmission. The report also covers the market size and forecasts for the utility drone inverters market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| Technology | |
| Multi Rotor | |
| Fixed Wing | |
| Others |
| Area of Application | ||||
| ||||
| Power Distribution and Transmission |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Utility Drones Market Research FAQs
What is the current Utility Drone Market size?
The Utility Drone Market is projected to register a CAGR of greater than 20% during the forecast period (2024-2029)
Who are the key players in Utility Drone Market?
Terra Drone Corp., PrecisionHawk Inc., Delair SAS, Aerodyne Group and SZ DJI Technology Co Ltd are the major companies operating in the Utility Drone Market.
Which is the fastest growing region in Utility Drone Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Utility Drone Market?
In 2024, the North America accounts for the largest market share in Utility Drone Market.
What years does this Utility Drone Market cover?
The report covers the Utility Drone Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Utility Drone Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Utility Drones Industry Report
Statistics for the 2024 Utility Drones market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Utility Drones analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
