Drones Market in Energy Industry 2018: Global Industry Size, Share, Trends, Segments and Geographic Overview with ...
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Pune, India — (SBWIRE) — 08/30/2018 — Drones for Energy Industry Global Market – Overview
An Unmanned Aerial Vehicle (UAV), or drone is an aircraft devoid of human pilot and which is flown and controlled by a ground-based controller using wireless communications or may be autonomous by onboard computers.
The global drones for energy industry market is projected to grow at a CAGR of 25.53% during the review period of 2017 to 2023.
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Drivers
A surge in application expansion such as line-of-sight applications such as aerial photography, offshore oil and wind energy platforms inspection, logistics, security, disaster control etc. is the prime driver of the market. Technological advanacements such as growing autonomy made possible by advances in computational power, three-dimensional thrust vectoring flight control and machine learning are expected to trump the large challenges the industry faces. Advancements in materials such as development of carbon fiber, miniaturization has resulted in cost effectiveness due to low powerful propulsion technologies such as small electric motors and batteries.
However it is computing capabilities and advances in sensor and software’s which is expected to provide the necessary impetus to propel the market from the realms of science fiction to real application. Thus advances such as system-on-a-chip (SOC) and single-board computers (SBC) are expected to cruise the market. The growing degrees of freedom (DOF) afforded by advances in sensor technology and real time data is further expected to add to the growth of the market.
Restraints
High cost of installation and maintenance coupled with the nascent stage of the technology are the greatest barriers which need to be overcome. The scarcity of trained manpower coupled with the steep learning curve are other bottle necks which are grounding the market. Stringent regulations and licensing are regulatory restraints limiting the usage of drones.
Key Players:
– AeroVironment Inc. (US)
– DJI (China)
– Aeryon Labs Plc. (UK)
– Aibotix GmbH Limited (UK)
– Ascending Technologies Inc. (Canada)
– UAVision. (Canada)
– Drone America (US)
– Draganfly Innovations Inc. (US)
– ING Robotic Aviation (Canada)
– Microdrones (Germany)
These are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global drones for energy industry market.
Drones for energy industry Global Market – Competitive Analysis
The global market for drones for energy industry seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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Industry Updates:
April 2018 Xcel Energy has recently announced that it will be the first utility in the country to regularly fly unmanned aircraft away from the operator’s line of sight when it initiates the surveying of transmission lines near Colorado, US. Authorization has been granted by the Federal Aviation Administration for the flights. The FAA’s conclusion to allow these flights is a first time occurrence in the utility industry. Licensed pilots will remotely control a small, unmanned helicopter weighing less than 55 pounds. Xcel Energy will use advanced command-and-control technology to guarantee safe operations while it reviews transmission lines.
Segments Overview
The segmentation of the drones for energy industry market is carried out on the basis of Drone type, industry type, application, and region. On the basis of drone type, the market is segmented into Rotary Blade Drone, Fixed Wing Drone, and Hybrid Drone. The Industry Type segmentation of the market comprises of Oil & Gas, Power, and Renewable. By Application, the drone for energy industry market includes segments such as Spillage Response, Inspection, Leak, Security, and Surveillance. Finally, on the basis of regions the market is segmented into Europe, Asia Pacific, North America and rest of the world.
Detailed Regional Analysis
While considering the regional analysis of the Drones for Energy Industry market, the Asia Pacific market is the main power producer globally and is the biggest market for renewable energy creation across the globe. The market is developing in nations such as India, China, and Japan, and is likely to develop at a high rate in the forecast period. The North American region is estimated to demonstrate a high rate of development in drones for energy industry market over the coming years, due to rise in approval of drones for leak and spillage detection, inspection and surveillance activities, primarily in oil & gas and power sectors. Causes such as rise in maintenance, inspection and surveillance operations of oil & gas platforms, pipelines, power plants, solar plants, and wind turbines in the region fuelling the market towards growth.
Scope Of Report
The report for Global Drones for Energy Industry Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table Of Contents :
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
Continued……
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