Renewable Drones Market: Current Analysis and Forecast (2024-2032)

Report Description

Renewable Drones Market Size & Forecast

The Renewable Drones market was valued at approximately USD 60 million in 2023 and is expected to grow at a substantial CAGR of around 27% during the forecast period (2024-2032) owing to the rising adoption of renewable energy.

Renewable Drones Market Analysis

Renewable drones therefore means UAVs that are custom-made or utilized for purposes of the renewable energy industry embracing tasks of inspection, monitoring, and maintenance of wind turbines, solar, and other clean energy facilities. These equipped intelligent drones use sensor technologies, cameras, and artificial intelligence-based analytics to enhance energy generation, manage renewable energy assets, and monitor and control safety all while lowering total expenses and preventing losses of productive hours in renewable energy applications.

Now, the companies in renewable drones are intervening with technologies like artificial intelligence, machine learning, and autonomous navigation to optimize and predetermine the maintenance of equipment. Moreover, companies secured funding and worked to design new drones that would be able to capture more robust offshore wind farms, as well as retrofit them with thermal imaging and LiDAR sensors for further quantitative and qualitative inspections. For instance, on 07 November 2022, The scale-up XSun developed a cutting-edge, autonomous drone. Powered by solar energy, it can fly for 12 hours and achieve many kinds of missions. The company from Atlantic France announced a significant funding round and raised €5.3 (5.84 USD) million from the European Innovation Council Fund. Also, sales functions are increasing to offer new services such as real-time data analysis and service for sustainability goals which are enhancing growth in this changing market.

Renewable Drones Market Trends

This section discusses the key market trends influencing the various segments of the Renewable Drones market as identified by our research experts.

Increased Use of Thermal and LiDAR Sensors Transforms Renewable Drones Industry

The degree of innovation of new renewable power drones through thermal and LiDAR sensors gives the drones an edge in efficiency in the energy market. Thermal imaging assists in the early diagnosis of low-performing solar panels so that any faulty or poorly productive panels can be replaced to enhance heat production. At the same time, LiDAR technology helps make accurate 3D scans for monitoring the wear and state of wind turbines’ structures. It does this through the application of these advanced sensors, which allow for real-time data for predictive maintenance and therefore minimum downtimes and operation expenses. Such a trend is increasingly leading to better handling of large-scale renewable power plants.

North America leads the market

North America has a dominant place in the renewable drone market due to the growing usage of wind and solar power in the area. The US for instance has been very keen on using drones, especially in inspection and maintenance of renewable energy forms cutting costs immensely. The availability of subsidies towards the use of clean energy together with environmental measures that rein in pollutive activities have also encouraged the adoption of drones in the sector as well. Current usage of drones is progressing steadily and manufacturing firms in North America are spearheading the development of these drones with better artificial intelligence analytics and self-flying drones. Due to large wind farms and abundant solar power installations in the region, it requires close and accurate, periodic inspection, which is only feasible using drones for predictive maintenance. Technological advancement as well as the increasing development of renewable energy is forcing North American companies to embrace drone use.

Renewable Drones Industry Overview

The Renewable Drones market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are DJI, AgEagle Aerial Systems Inc, Parrot Drone SAS, Dronevolt, AeroVironment, Inc., XSun, Kea Aerospace, Skyline Drones, Schnell Drone Technologies Ltd., Delair.

Renewable Drones Market News

In April 2023, Kea Aerospace used an electric Audi launch vehicle for the “Kea Atmos Mk1” aircraft. After reaching takeoff speed, the solar-powered aircraft is released for flight testing.

In August 2024 – Ørsted, the global leader in offshore wind, is deploying heavy-lift cargo drones (HLCD) for the first time in an operational campaign at the Borssele 1&2 Offshore Wind Farm. This pioneering move marks a significant leap forward in operational efficiency and safety in the offshore wind industry.

Renewable Drones Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Renewable Drones market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Renewable Drones Market Analysis (2022-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Renewable Drones market were the three major steps undertaken to create and analyze the adoption of Renewable Drones in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Renewable Drones market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Renewable Drones market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Renewable Drones market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, solution, end-user, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Renewable Drones market. Further, we conducted factor analysis using dependent and independent variables such as type, solution, end-user, and regions of the Renewable Drones market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Renewable Drones market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Renewable Drones market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

The industry’s market size, in terms of revenue (USD) and the adoption rate of the Renewable Drones market across the major markets domestically

All percentage shares, splits, and breakdowns of market segments and sub-segments

Key players in the global Renewable Drones market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Renewable Drones market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, solution, end-user, and regions of the global Renewable Drones market.

The main objective of the Global Renewable Drones Market Study

The current & future market trends of the global Renewable Drones market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Renewable Drones market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the type, solution, end-user, and regions.
• Define and analyze the regulatory framework for the Renewable Drones
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Renewable Drones market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Renewable Drones market and the growth strategies adopted by the market players to sustain the fast-growing market.
• Deep dive regional level analysis of the industry

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