Market Overview

Global Utility Drones Market 2018-2023 by Services (End-to-End Solution and Point Solution), Type (Multi-Rotor and Fixed Wing), End-user (Power, and Renewable) - ResearchAndMarkets.com

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The "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"

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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
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 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.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Utility Drones Market, By Type

7 Utility Drones Market, By Services

9 Utility Drones Market, By End-User

10 Utility Drones Market, By Region

11 Competitive Landscape

12 Company Profiles

  • Aerodyne
  • Asset Drone
  • ABJ Drones
  • Cyberhawk
  • Delair
  • Hemav
  • Measure
  • Terra Drone
  • Sky-Futures
  • Precisionhawk
  • Sharper Shape
  • Sky Scape
  • ULC Robotics

For more information about this report visit https://www.researchandmarkets.com/research/b7wlmc/global_utility?w=4

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