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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


Product Code : MNMEP00110072
Survey : MarketsandMarkets
Publish On : 20, May, 2022
Category : Energy and Power
Study Area : Global
Report format : PDF
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[Report Description]

“The utility drones market is projected to grow at a CAGR of 37.34% from 2018 to 2023.”
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, from 2018 to 2023.”
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: The largest market for utility drones”
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.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 30%, Tier 2- 50%, and Tier 3- 20%
By Designation: C-Level- 60%, Director Level- 30%, Others*- 10%
By Region: Europe- 60%, Asia Pacific- 30%, North America- 10%
Notes: Others includes advisors, business development managers, and engineers.
The tier for the company has been defined on the basis of its total revenue as of 2016: Tier I: >USD 5 billion, Tier II: from USD 1 billion to USD 5 billion, and Tier III:
The leading players in the utility drones market include Cyberhawk (Scotland), Delair (France), Measure (US), PrecisionHawk (US), and HEMAV (Spain).
Research Coverage:
The report defines, describes, and forecasts the global utility drones market by services, by type, by end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the utility drones market.
Why Buy this Report?
1. The report identifies and addresses key markets for utility drones, which would help market players review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKET SCOPE 14
1.3.1 MARKET SEGMENTATION 14
1.3.2 REGIONAL SEGMENTATION 14
1.4 YEARS CONSIDERED IN THE REPORT 15
1.5 CURRENCY & PRICING 15
1.6 STAKEHOLDERS 15
2 RESEARCH METHODOLOGY 16
2.1 RESEARCH DATA 16
2.1.1 SECONDARY DATA 17
2.1.1.1 Key data from secondary sources 17
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 18
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primary interviews 19
2.2 MARKET SIZE ESTIMATION 20
2.2.1 BOTTOM-UP APPROACH 20
2.2.2 TOP-DOWN APPROACH 21
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 22
2.4 RESEARCH ASSUMPTIONS 23
3 EXECUTIVE SUMMARY 24
4 PREMIUM INSIGHTS 28
4.1 ATTRACTIVE OPPORTUNITIES IN THE UTILITY DRONE MARKET DURING THE
FORECAST PERIOD 28
4.2 UTILITY DRONE MARKET, BY TYPE 28
4.3 END-TO-END SOLUTION, DRONE MARKET, BY SERVICE 29
4.4 UTILITY DRONE MARKET, BY END-USER 29
4.5 UTILITY DRONE MARKET, BY REGION 30

5 MARKET OVERVIEW 31
5.1 INTRODUCTION 31
5.2 MARKET DYNAMICS 31
5.2.1 DRIVERS 32
5.2.1.1 Growing global demand for minimizing outages related to transmission infrastructure 32
5.2.1.2 Time and cost efficiency 32
5.2.1.3 Reachability in hazardous locations 32
5.2.2 RESTRAINTS 32
5.2.2.1 Legal regulations 32
5.2.3 OPPORTUNITIES 33
5.2.3.1 Amendments in drone regulations, permitting BVLOS flights 33
5.2.3.2 Advancements in drone technology 33
5.2.4 CHALLENGES 33
5.2.4.1 Working safety 33
5.2.4.2 Data protection and security 33
6 UTILITY DRONES MARKET, BY TYPE 34
6.1 INTRODUCTION 35
6.2 MULTI-ROTOR 36
6.3 FIXED WING 37
7 UTILITY DRONES MARKET, BY SERVICES 38
7.1 INTRODUCTION 39
7.2 END-TO-END SOLUTION 40
7.3 POINT SOLUTION 40
8 UTILITY DRONES MARKET, BY END-USER 42
8.1 INTRODUCTION 43
8.2 POWER 43
8.2.1 GENERATION 44
8.2.2 TRANSMISSION 44
8.3 RENEWABLE 45
8.3.1 SOLAR 45
8.3.2 WIND 46
9 UTILITY DRONES MARKET, BY REGION 47
9.1 INTRODUCTION 48
9.2 NORTH AMERICA 49
9.2.1 BY TYPE 50
9.2.2 BY SERVICES 51
9.2.3 BY END-USER 51
9.2.4 BY COUNTRY 52
9.2.4.1 US 52
9.2.4.2 Canada 53
9.2.4.3 Mexico 54
9.3 ASIA PACIFIC 55
9.3.1 BY TYPE 56
9.3.2 BY SERVICES 57
9.3.3 BY END-USER 57
9.3.4 BY COUNTRY 58
9.3.4.1 China 58
9.3.4.2 Japan 59
9.3.4.3 India 60
9.3.4.4 Australia 61
9.3.4.5 Rest of Asia Pacific 62
9.4 EUROPE 64
9.4.1 BY TYPE 64
9.4.2 BY SERVICES 64
9.4.3 BY END-USER 65
9.4.4 BY COUNTRY 65
9.4.4.1 Germany 65
9.4.4.2 Russia 66
9.4.4.3 UK 67
9.4.4.4 France 68
9.4.4.5 Rest of Europe 69
9.5 MIDDLE EAST & AFRICA 71
9.5.1 BY TYPE 71
9.5.2 BY SERVICES 71
9.5.3 BY END-USER 72
9.5.4 BY COUNTRY 72
9.5.4.1 Saudi Arabia 72
9.5.4.2 UAE 73
9.5.4.3 South Africa 74
9.5.4.4 Rest of the Middle East & Africa 75
9.6 SOUTH AMERICA 77
9.6.1 BY TYPE 77
9.6.2 BY SERVICES 77
9.6.3 BY END-USER 78
9.6.4 BY COUNTRY 78
9.6.4.1 Brazil 78
9.6.4.2 Argentina 79
9.6.4.3 Rest of South America 80
10 COMPETITIVE LANDSCAPE 82
10.1 INTRODUCTION 82
10.2 RANKING OF PLAYERS AND MARKET STRUCTURE 83
10.3 COMPETITIVE SCENARIO 83
10.3.1 CONTRACTS & AGREEMENTS 84
10.3.2 PARTNERSHIPS 84
10.3.3 NEW PRODUCT LAUNCHES 85
10.3.4 INVESTMENTS & EXPANSIONS 85
10.3.5 MERGERS & ACQUISITIONS 86
10.3.6 COLLABORATIONS & ALLIANCES 86
11 COMPETITIVE BENCHMARKING 87
12 COMPANY PROFILES 88
(Business Overview, Products Offered, Recent Developments, and MnM View)*
12.1 AERODYNE 88
12.2 ASSET DRONE 90
12.3 ABJ DRONES 91
12.4 CYBERHAWK 93
12.5 DELAIR 97
12.6 HEMAV 101
12.7 MEASURE 104
12.8 TERRA DRONE 107
12.9 SKY-FUTURES 109
12.10 PRECISIONHAWK 111
12.11 SHARPER SHAPE 114
12.12 SKY SCAPE 116
12.13 ULC ROBOTICS 118
*Details on Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
13 APPENDIX 119
13.1 INSIGHTS OF INDUSTRY EXPERTS 119
13.2 DISCUSSION GUIDE 120
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 123
13.4 AVAILABLE CUSTOMIZATIONS 125
13.5 RELATED REPORTS 125
13.6 AUTHOR DETAILS 126

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