Market Size of Utility Drone Industry
| 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 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 Drone Market Size Summary
The utility drone market is poised for significant growth, driven by the need for efficient asset management and reduced equipment failures. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue expanding at a robust pace. Key factors propelling this growth include advancements in drone technology, such as automation and increased payload capacities, which are creating new opportunities. However, challenges like limited battery life for sustained flight remain. The Asia-Pacific region is a dominant force in the market, anticipated to experience the highest growth rate, fueled by substantial investments in energy infrastructure across countries like India, China, and Australia.
Fixed-wing drones, known for their energy efficiency and ability to cover large areas, are expected to see substantial growth within the utility drone market. These drones are particularly useful for power line inspections and asset monitoring in various weather conditions. The increasing global demand for electricity and the expansion of power generation and transmission networks are key drivers for this segment. In the Asia-Pacific region, the rising energy demand and the focus on reducing transmission losses are further boosting the adoption of utility drones. Notable developments, such as partnerships for aerial inspections and the use of drones in critical infrastructure areas, underscore the market's potential. The market is moderately fragmented, with major players like SZ DJI Technology Co Ltd and Terra Drone Corp. actively contributing to its evolution.
Utility Drone Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Force Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Technology
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2.1.1 Multi Rotor
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2.1.2 Fixed Wing
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2.1.3 Others
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2.2 Area of Application
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2.2.1 Power Generation
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2.2.1.1 Renewable
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2.2.1.2 Non-Renewable
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2.2.2 Power Distribution and Transmission
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Utility Drone Market Size 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.
