Dallas, Texas, Dec. 23, 2020 (GLOBE NEWSWIRE) — 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 by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Global Forecast, 2018 to 2028” study provides an elaborative view of historic, present and forecasted market estimates.
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The global utility drone’s market size is projected to reach nearly USD 2.8 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 37.5% over the forecast period of 2020-2028. The global market for utility drones is projected to have increased demand to minimise service time and cost effectiveness and increase accessibility in hazardous locations. Drones have been mainly used in the military and defence industries, and their use is increasing to a wide variety of civilian roles, from surveillance, search and rescue, firefighting, traffic control and weather monitoring, to agriculture, videography, photography and even distribution services focused on company drone and personal drone.
The report also outlines the various characteristics of the global utility drones industry by assessing the market from value chain analysis. Moreover, the utility drone’s market report comprises various qualitative parts of the utility drones industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
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The utility drones market has huge competition amongst the already well-known and new market players. Also, the utility drone’s industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
In 2019, the multi-rotor segment is expected to lead the market for utility drones and is expected to have the greatest market share during the forecast period. Because of their high accuracy and stability, multi-rotor drones have been increasingly used for aerial inspection and photography. Multi-rotor drones are also relatively inexpensive on the market and are readily available. These variables are driving the growth of the multi-rotor segment of the market for utility drones.
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In 2019, North America accounted for a substantial portion of the global market for utility drones. Regional growth can be due to a rising focus on R&D activities and the involvement of major suppliers, particularly in countries such as the United States and Canada. In addition, advances in drone analytics are anticipated to fuel the regional market along with favourable government regulations in the region.
The major players of the global utility drones market PrecisionHawk, Cyberhawk, Delair, Measure, and HEMAV. Moreover, the market comprises several other prominent players in the utility drones market as Aerodyne Group, Asset Drone, YUNEEC, ULC Robotics, DJI, Terra Drone and ABJ Drones. The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
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Major Points from Table of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Utility Drones Market by Type, 2018-2028 (in USD Million and Million Units)
Chapter 6 Utility Drones Market by Services, 2018-2028 (in USD Million and Million Units)
Chapter 7 Utility Drones Market by End-user Industry, 2018-2028 (in USD Million and Million Units)
Chapter 8 Utility Drones Market by Region, 2018-2028 (in USD Million and Million Units)
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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