The Global Drone Inspection & Monitoring Market size was estimated at USD 13.87 billion in 2022 and expected to reach USD 16.15 billion in 2023, projecting growth at a CAGR of 17.93% to reach USD 51.91 billion by 2030.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
Cumulative Impact of COVID-19:
The COVID-19 pandemic has had a significant impact on drone inspection and monitoring due to the need for social distancing measures. Companies are now turning to drones to reduce contact between personnel while still having access to critical data and information.
Cumulative Impact of Russia-Ukraine Conflict:
In addition to the effects of the pandemic, another major factor driving up demand for drone inspection and monitoring services is the ongoing Russia-Ukraine conflict. As tensions increase between these two countries, drones are an ideal solution as they can provide real-time footage from difficult-to-reach locations without putting personnel in harm’s way. This allows for better decision-making with regard to operations management in areas affected by political instability or unrest.
Cumulative Impact of High Inflation:
High inflation levels around the world make it increasingly difficult for businesses to manage costs while maintaining quality standards. The use of drones is one way that companies can reduce expenses while still ensuring compliance with safety laws and regulations. By using drones instead of sending personnel into hazardous environments or areas where there may be heightened security risks, businesses can save money on wages, travel expenses, insurance premiums, etc., thus reducing overall costs associated with inspection or monitoring tasks.
The market dynamics represent the ever-shifting landscape of the Global Drone Inspection & Monitoring Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Significant demand for safe & accurate inspection & monitoring of arial imaginary
- Rising favorable government initiatives for drone inspection
- Accelerating usage of drones as a Remote Visual Inspection (RVI) tool for critical infrastructure applications
- Budgetary constraints for drone and security risks of being hacked
- Technological advancements in drones and drone systems for improved inspection & monitoring capabilities
- Emergence of drone inspections in solar PV system commissioning
- Lack of skilled personnel to operate drones inspection & monitoring systems
Market Segmentation & Coverage:
- Based on Solution, the market is studied across Infrastructure, Platform, Services, and Software.
- Based on Type, the market is studied across Fixed Wing, Hybrid, and Multirotor.
- Based on Mode of Operation, the market is studied across Fully Autonomous, Optionally Piloted, and Remotely Piloted.
- Based on Application, the market is studied across Agriculture, Construction & Infrastructure, Mining, Oil & Gas, and Utilities.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
This research report categorizes the Global Drone Inspection & Monitoring Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Drone Inspection & Monitoring Market, including Aerialtronics DV B.V., Aeromat creative labs Pvt. Ltd., AeroVironment, Inc., DroneDeploy, Inc., Dronegenuity, Inc., ECA Group, Equinox’s Drones Pvt Ltd., FEDS Drone-powered Solutions, Flyability SA, GarudaUAV Soft Solutions Pvt. Ltd. by Dorf Ketal Chemicals Pvt. Ltd., Guangzhou EHang Intelligent Technology Co. Ltd., Intertek Group PLC, Israel Aerospace Industries, Lockheed Martin Corporation, Maverick Inspection Ltd., mdGroup, MISTRAS Group, Northrop Grumman Corporation, Parrot Drones SAS, Sky-Futures by ICR Integrity, Skydio, Inc., SZ DJI Technology Co., Ltd., Teledyne Technologies Incorporated, The Boeing Company, and Wipro Limited.
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Drone Inspection & Monitoring Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Drone Inspection & Monitoring Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Drone Inspection & Monitoring Market?
- What is the competitive strategic window for opportunities in the Global Drone Inspection & Monitoring Market?
- What are the technology trends and regulatory frameworks in the Global Drone Inspection & Monitoring Market?
- What is the market share of the leading vendors in the Global Drone Inspection & Monitoring Market?
- What modes and strategic moves are considered suitable for entering the Global Drone Inspection & Monitoring Market?