Published on : Sep 19, 2019
Albany, New York, September 19, 2019: Drones are very advanced and evolved type of UAVs. They have gained momentum across various commercial sectors for they are safe, cost effective and time efficient. Inspection drones are highly popular as they can accomplish hazardous tasks such as inspecting oil wells and utility pipe lines. Drones significantly reduce accidents and eliminate delays associated with inspections conducted in person.
Increase in number of sectors engaging inspection drones, boosts inspection drones market. According to a new research, by 2027 global inspection drone market will amount to ?US$32Bn, with predicted expansion at ?23% CAGR from 2019 to 2027. Further, market–specific factors and macroeconomics will continually influence the market during the forecast period.
All the insights shared are from the intelligence report, titled, “Inspection Drones Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027”, the recent addition to the Market Research Hub’s (MRH) ever-expanding repository.
Demand of inspection drones grows in oil and gas industry
Inspection drones captivate the end-use industry for they can be custom-made as industry-specific solution. Oil and gas industry, Energy and Utilities industry, Military and Defense industry, Mining and Construction Industry are some of the prominent end-use sectors that employ inspection drones.
Current palpable shift towards automation in oil and gas industry creates favorable environment for the Inspection drone market. Inspection drones execute tasks like onshore and offshore oil derrick inspection, oil spill detection, flare stack inspection, monitoring gas emission and damage assessment. Drone technology calls for safe inspection and improved efficiency to optimize the production. Demand for drones has increased in oil and gas industry and further increase in investments from stakeholders is anticipated.
Asia Pacific is the next investment hub
In 2018, Military and Defense segment was the leading share holder in Inspection drone market. The segment is anticipated to further dominate the ecosystem. Inspection drone acts as an aid to enhance boarder security, fuelling its further requirement in Defense.
North America holds the largest share of inspection drones market followed by Asia Pacific. Investments have been pouring in, in construction industry across Asia Pacific region. The substantial growth in construction business will pave a path for using inspection drones, granting an even bigger market share to Asia Pacific.
Many key players have launched pilot projects to exploit the benefits of drone. Key stakeholders that operate in inspection drone market are 3D Robotics, Intel Corporation, Acecore Technologies, Lockheed Martin and Aerobotics Ltd.
Inspection drone market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Inspection drone market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Inspection drone market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on Inspection drone.
An insightful and deep-dive assessment of the competitive assessment of the Inspection drone market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Inspection drone market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Inspection drone market: Research Methodology
Primary sources and secondary sources propel intelligence report on Inspection drone market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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