Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Utility Drones market.
Trusted Business Insights presents an updated and Latest Study on Utility Drones Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Utility Drones market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Global Utility Drones Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027 is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global utility drones market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global utility drones market report has been segmented on the basis of type, service, application, and region.
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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Utility drones are unmanned aerial vehicles used in utility industry to maintain and inspect transmission, and distribution of electric power. Drones are effective device to assist in various operations. Drones are also able to detect threats and damages in energy grid caused by dangerous obstacles and natural disasters such as earthquakes, storms, etc. It is also used to gather data and capture images with the use of light detector and ranging (LiDAR) technology, positioning sensor, other sensors and cameras.
Utility companies spend high amount of money in building energy distribution infrastructure. Disturbance in electrical power supply can cause huge damages to the industries depended upon electrical supply. Growing need to minimize power outages is a major factor driving growth of the global utility drones market. Drones attached with cameras and sensors help to provide information, images and video feed in real time.
Use of drones for surveillance and inspection is another major factor fueling growth of the global utility drones market. Drones make it possible to monitor complex structures and inspect facilities such as oil and gas refineries, flare stacks, pipelines that are physically hostile and hazardous to environment and for individuals. Increasing use of drones in hazardous environment is a factor expected to boost growth of the global utility drones market in the near future.
However, stringent regulations on use of utility drones in long distance, and beyond visual line-of-sight by Federal Aviation Administration is a factor that may hamper growth of the global utility drones market. Nevertheless, introduction of cost-effective and technologically advanced drones can create high revenue opportunities for major players operating in the global utility drones market.
On the basis of type, the multi-rotor segment is expected to dominate in the global utility drones market in terms of revenue, and is anticipated to register highest CAGR in the near future. Utility drones provide accuracy and functionality in low cost, which is one of the major factors driving growth of the segment in the target market.
Market in North America is estimated to account for major share in terms of revenue in the global market, and is expected to maintain its position over the forecast period. Increasing use of renewable energy resources is among some of the major factors expected to drive growth of the target market in this region. Government regulations regarding usage of utility robots is a factor that could affect growth of the target market in North America region. Asia Pacific market in anticipated to register high growth in terms of revenue in the near future, followed by markets in Europe, Middle East & Africa, Latin America. Growing adoption of advanced technologies, coupled with growing power generation plants is a factor expected to fuel growth of the utility drones market in Asia Pacific.
Global Utility Drones Market Segmentation:
Segmentation by type:
Segmentation by service:
Segmentation by end-user:
Transmission & Distribution
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