Drone inspection methods are becoming increasingly popular over traditional approaches, which is one of the key factors for driving market revenue growth

VANCOUVER, B.C., CANADA, May 23, 2023 /EINPresswire.com/ -- Global drone inspection and monitoring market size reached USD 9.80 Billion in 2021 and is expected to register a revenue CAGR of 15.8% during the forecast period, according to latest analysis by Emergen Research.

In recent years, the market for drone inspection and monitoring has expanded significantly, revolutionising a variety of sectors including infrastructure, energy, agriculture, and more. Unmanned aerial vehicles (UAVs), commonly referred to as drones, offer a practical and affordable method for inspecting and tracking a variety of assets. This enables enterprises to improve operational effectiveness, safety, and decision-making procedures. Drones are now indispensable equipment for inspection and monitoring tasks due to their capacity to enter difficult-to-reach places and record high-resolution photographs and videos.

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The market for drone inspection and monitoring has expanded due to a number of factors. First, companies have embraced drone technology due to the requirement for higher safety standards and lower human risk. The use of manual inspections, which frequently involve difficult and dangerous duties, is no longer necessary for the examination of important infrastructure such as bridges, electricity lines, and oil rigs. In addition to safeguarding human lives, this lowers the possibility of accidents and ensures the early identification of potential problems.

In addition, the affordability of drone inspections has been a key factor in the market's expansion. Traditional inspection techniques can entail high costs, such as paying specialised staff, renting out equipment, and carrying out protracted inspection procedures. Drones provide a more affordable option, cutting down on the time and money needed for inspections. This has made using drones for inspections an appealing choice for businesses trying to maximise their operational expenditures without sacrificing inspection quality.

Some Key Highlights From the Report:

Service segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to increasing demand for drone-based inspection and monitoring services as drones rapid, better cost-effective, and more accurate data processing capabilities than traditional techniques.

Hybrid segment revenue is expected to register a steady CAGR during the forecast period because hybrid drones have better payload and endurance capabilities than fixed-wing and multirotor drones.

Asia Pacific is expected to register a rapid revenue growth rate over the forecast period owing to increasing demand for drones in countries such as China and India, where drones are commonly used for inspection and monitoring jobs in agriculture and utilities.

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Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Some major companies in the global market report include Aerodyne Group, SZ DJI Technology Co. Ltd, AeroVironment, Inc., Sky Futures Partner Ltd., Lockheed Martin Corporation., BAE Systems PLC., Qualcomm Technologies Inc., AgEagle Aerial Systems Inc., Teledyne FLIR LLC, and Israel Aerospace Industries.

Market Dynamics:

The report offers insightful information about the market dynamics of the Drone Inspection and Monitoring market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Drone Inspection and Monitoring market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Drone Inspection and Monitoring market.

Emergen Research has segmented drone inspection and monitoring market on the basis of solution, technology, type, application, end-use, and region:

Solution Outlook (Revenue, USD Billion; 2019–2030)

Software

Services

Platform

Infrastructure

Technology Outlook (Revenue, USD Billion; 2019–2030)

Remotely Piloted

Optionally Piloted

Fully Autonomous

Type Outlook (Revenue, USD Billion; 2019–2030)

Fixed Wing

Multirotor

Hybrid

Application Outlook (Revenue, USD Billion; 2019–2030)

Agriculture

Construction and Infrastructure

Oil and Gas

Mining

Utilities

Others

End-Use Outlook (Revenue, USD Billion; 2019–2030)

Pipeline Monitoring and Inspection

Offshore Platform Inspection

Wind Turbine Inspection

Power Plant Inspection

Solar Panel Inspection

Others

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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Outlook of Drone Inspection and Monitoring Market:

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Rest of MEA

What Questions Should You Ask before Buying a Market Research Report?

How is the Drone Inspection and Monitoring-market evolving?

What is driving and restraining the Drone Inspection and Monitoring market?

How will each Drone Inspection and Monitoring submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

How will the market shares for each Drone Inspection and Monitoring submarket develop from 2022 to 2030?

What will be the main driver for the overall market from 2022 to 2030?

Will leading Drone Inspection and Monitoring markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

Who are the leading players and what are their prospects over the forecast period?

What are the Drone Inspection and Monitoring projects for these leading companies?

How will the industry evolve during the period between 2020 and 2030? What are the implications of Drone Inspection and Monitoring projects taking place now and over the next 10 years?

Is there a greater need for product commercialisation to further scale the Drone Inspection and Monitoring market?

Where is the Drone Inspection and Monitoring-market heading and how can you ensure you are at the forefront of the market?

What are the best investment options for new product and service lines?

What are the key prospects for moving companies into a new growth path and C-suite?

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