Utility Drone Market Overview: 2024-2029
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-29
The Utility Drone Market is valued at around USD 318 million in 2023 and is estimated to grow at a CAGR of around 29.12% during the forecast period, i.e., 2024-29. The market growth is likely to be driven primarily by the mounting need to reduce outages associated with power infrastructures, coupled with enhancing the cost & time efficiency in asset management & reachability at hazardous locations. The commercial use of drones is anticipated to display an exponential rise in the coming years as numerous start-ups are emerging across developing economies.
Markntel Advisor’s Utility Drone Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Utility Drone Market drivers, barriers, Utility Drone Market Trends, and Key Players in Utility Drone Market.
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Utility Drone Market Dynamics: 2024-2029
Utility Drone Market Driver:
Rising Infrastructure Inspection Driving the Demand for Utility Drone in the Market – The market for drone-based infrastructure inspection has experienced substantial growth during the historical years. This is primarily due to safety concerns, which prompted utility companies to increasingly rely on drones for inspecting critical infrastructure like power lines, pipelines, and bridges, as they eliminate the need for human workers to access hazardous or hard-to-reach areas.
This prioritization of safety, along with the ability of drones to capture high-quality data for thorough inspections has significantly improved maintenance efficiency & reduced downtime. Furthermore, the cost-effectiveness of drone-based inspections compared to traditional methods, such as helicopter flyovers, has driven adoption among various government authorities.
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Utility Drone Market (2024-29): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- Multi Rotor
- Fixed Wing
- By Services
- End-to-End Solution
- Point Solution
- By End User
- Power Vertical
- Power Generation
- Power Transmission
- Renewable Vertical
- Wind
- Solar
- By Application
- Real-time Monitoring
- Risk Identification & Management
- Asset Management
- Predictive Maintenance
- Others
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
- Power Vertical
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Top Companies Operating in the Utility Drone Market:
- Asset Drone
- Cyberhawk
- ABJ Drones
- Terra Drone
- Measure
- Sharper Shape
- Sky Scape
- ULC Robotics
- Sky-Futures
- Precisionhawk
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