Utility Drone Market: Current Analysis and Forecast (2021-2027)

$3999$7577

Emphasis on Services (End-End Solution, Point Solution); Type (Multi-Rotor, Fixed Wings); End-Use (Conventional Power, Renewable Power); Region/Country

Published:

Sep-2021

Pages:

177

Table:

48

Figure:

82

Report ID:

UMEP21431

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description


Global Utility Drone Market generated revenue of around US$ 312.3 million in 2020 and is expected to grow at a CAGR of about 35.0% during the analysis period (2021-2027)
. Investment from key players in drone technology in the last few years increased at an influential rate owing to the multifaceted applicability of drones coupled with its the usage of drones has also grown. It is mainly due to the technological advancements that have kept pace and delivering advanced and sophisticated versions of drones to users. Similarly, establishment of long transmission lines and adoption of renewable energy sources are the primary factors likely to positively influence the utility drones market in the region Also, increasing power generation capacity from PV solar plant across the globe has escalated the application of utility drones for their surveillance and security functions. For instance, as per Statista, from global cumulative solar PV capacity has China has reached 252.2 gigawatts in 2020 and with continue investment in PV solar technology market is expected to escalate the demand for utility drones.

Utility drones market has seen significant surge during 2020 due to the impact of Coronavirus pandemic. Drones had proved to be versatile and effective tools in the Coronavirus epidemic. Various countries across the globe hesitated to fully exploit its potential of drones due to rules and regulations due to the concern for potential safety, security, privacy and environmental issues. However, drone deployment in the Covid-19 crisis has offered a learning opportunity for how airspace regulations could be updated to facilitate their use also beyond emergency response. In the pandemic, drones are being used for contact-free delivery, surveillance, enforcement, and hygiene applications. As need to reduce human contact as a health precaution in the time of Covid-19 has provided a boost to the use of drones.

 Different Types of Utility Drone Components, 2020

Cyberhawk Innovations Limited, PrecisionHawk, Delair, SkyScape Industries, Measure, Sharper Shape Inc, Sky Futures, Terra Drone, ABJ Drones, ULC Robotics are some of the prominent players operating in the Global Utility Drone Market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Services, End to End Solution segment holds the major share”

Based on service, the market is classified into end to end solution and point solution. The end-to-end solution segment generated highest revenue in 2020. This solution includes the provision of the drone, drone pilots, engineers, software, data management, processing, and analytics; drone advisory services; and consulting, among several other services that helps in obtaining accurate data on utilities assets

“Amongst Type, Multi- Rotor Segment holds the major share”

Based on type, the market is segmented into multi-rotor and fixed wings. The multi-rotar segment grabbed major share of the global utility drones’ market in 2020. The segment is expected to grow at a reasonable CAGR owing to the easy availability and affordability in the market.

“Amongst End-Use, Conventional Power segment holds the major share”

Based on end-use, the market is segmented into conventional power and renewable power. Currently, conventional power captures dominant share in utility drones market and expected to increase in the forecasted period as well. It is mainly owing to the factors such as using utility drones for the power industry include cutting down of operation and maintenance costs; boosting of worker safety considering their ability to fly in potentially dangerous areas; use of little or no fuel; and negligible environmental impact are driving the market.

“North America represents one of the largest markets of Global Utility Drone Market”

For a better understanding of the market dynamics of the Global Utility Drone Market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, and Rest of the World. North America constitutes the largest market in 2020 predominantly due to the investments in power infrastructure monitoring and management.

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 portfolio, 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:

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 1.1.Market Definitions
 1.2.Limitation
 1.3.Stake Holders
 1.4.Currency Used in Report
 2.1.Research Methodology for the Global UTILITY DRONE Market 
 2.1.1.Main Objective of the Global UTILITY DRONE Market 
 7.1.End to End Solution
 7.2.Point Solution
 8.1.End to End Solution
 8.2.Point Solution
 9.1.Conventional Power
  9.1.1.Transmission & Distribution
  9.1.2.Generation
 9.2.Renewables
  9.2.1.Solar
  9.2.2.Wind
 10.1.North America UTILITY DRONE Market  
  10.1.1.United States
  10.1.2.Canada 
  10.1.3.Rest of North America
 10.2.Europe UTILITY DRONE Market  
  10.2.1.Germany 
  10.2.2.United Kingdom
  10.2.3.France 
  10.2.4.Rest of Europe
 10.3.Asia Pacific UTILITY DRONE Market 
  10.3.1.China 
  10.3.2.Japan 
  10.3.3.India 
  10.3.4.Australia 
  10.3.5.Rest of Asia-Pacific
  10.4.Rest of World UTILITY DRONE Market 
 11.1.Market Drivers
 11.2.Market Challenges
 11.3.Impact Analysis
 15.1.Demand Side Analysis
 15.2.Supply Side Analysis
  15.2.1.Top Product Launches
  15.2.2.Top Business Partnerships
  15.2.3.Top Business Expansions, Investments and Divestitures
  15.2.4.Top Merger and Acquisitions
 17.1.Porter’s Five Forces Analysis
  17.1.1.Bargaining power of Supplier
  17.1.2.Bargaining power of Buyer
  17.1.3.Industry Rivalry
  17.1.4.Availability of Substitute
  17.1.5.Threat of new Entrants
 17.2.Competitive Landscape
  17.2.1.Company Shares, By Revenue
 18.1.Cyberhawk Innovations Limited
 18.2.PrecisionHawk
 18.3.Delair
 18.4.SkyScape Industries
 18.5.Measure
 18.6.Sharper Shape Inc.
 18.7.Sky Futures
 18.8.Terra Drone
 18.9.ABJ Drones
 18.10.Delair

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Utility Drone market were the three major steps undertaken to create and analyze the adoption of Utility Drone system 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 Utility Drone 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 the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global Utility Drone Market through company internal sources such as annual report & 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 Global Utility Drone Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as services, type and end-user. Further country-level analyses were conducted to evaluate the overall adoption of diagnostic 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 global Utility Drone market. Further, we conducted factor analysis using dependent and independent variables such as increasing type of Utility Drone and increasing adoption of different type of Utility Drone material. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the global Utility Drone 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 Utility Drone 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., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of global Utility Drone market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global Utility Drone 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, and 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

Utility Drone Market 3
Utility Drone Market 3

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Utility Drone market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the global Utility Drone market.

The main objective of the Global Utility Drone Market Study

The current & future market trends of Global Utility Drone Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were 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 as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Global Utility Drone Market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of services, type and end-user
  • Define and analysis of the regulatory framework for the Global Utility Drone Market industry
  • 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 Global Utility Drone Market for the major region
  • Major regions studied in the report include Asia Pacific, Europe, North America and Rest of the world.
  • Company profiles of the Global Utility Drone Market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry