Drone Inspection & Monitoring Market

Drone inspection was valued at USD 7,708 million in 2020 and projected to grow at 15.3% CAGR during the forecast period.

Introduction of the Drone Inspection & Monitoring Market Report
Drones are adopted for inspection and monitoring in industries that require visual inspection of assets as part of their maintenance practices. Visual inspection is required to secure the proper maintenance of the company’s resources. Drone cameras generally perform the task of the human eye during inspection and monitoring applications.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global drone inspection & monitoring market include the increasing implementation of new technologies such as artificial intelligence, IoT-based sensors, and cloud computing in drones. The implementation of AI in drones enhanced their capabilities and enabled them to carry out several activities such as take-off, navigation, data capture, data transmission, and data analytics without any human intervention. For instance, Skycatch, Inc. provides aerial data capture automation, processing, visualization, and analysis tools. Nowadays, the organization benefits from both previously unavailable levels of visibility and reasonable cost by using drones for inspection and monitoring purposes. The usage of drones helps improve worker protection and provides access to information on assets. For instance, Federal Aviation Administration uses drones to aid aircraft rescue and firefighting teams’ response to aircraft fires.

Restraint in the Drone Inspection & Monitoring Market

However, mostly drones available for commercial use have a limited flight time on a single charge, and there is an inverse relationship between payload weight and flight endurance and rising payload may reduce flight time. The limited payload capacity and limited flight endurance can hamper the market growth.

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Solution – Segment Analysis

Based on the solution, the service segment is anticipated to grow at higher CAGR during the forecast period due to drones’ cost-effective and accurate data processing capabilities compared to traditional methods. With less human operation and no safety infrastructure, drones can reduce time and costs. They can also enhance data analytics which allows companies to comprehend better and predict operating performance. For instance, in 2020, Amazon received approval from the Federal Aviation Administration to operate its Prime Air delivery drone’s fleet.

Type – Segment Analysis

Based on the type, hybrid segment is anticipated to grow at higher CAGR during the forecast period due to hybrid drones enhancing payload capabilities with the extensive flight time. Hybrid drones are UAVs using two or more energy sources such as gasoline and electricity to power their flight propulsion system. For instance, in 2021, Advanced Aircraft Company had launched a new gasoline-electric VTOL drone with capabilities to lift dual payload and 3.5 hours of continual flight time.

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Regional – Segment Analysis:

Based on the region, Asia Pacific region is expected to grow at higher CAGR in the global drone inspection & monitoring market during the forecast period owing to the increasing demand for drones in countries such as China and India, where drones are being widely employed for monitoring and inspection task in the agriculture and utility sector. Drones can help the farmer optimize inputs such as seed, fertilizers, water, and pesticides more efficiently. This enables timely protection of crops from pests, saves time for crop scouting, reduces overall farm production costs, and secures high yield and quality crops. For instance, DJI launched Agras T20 that can conduct autonomous operations over various terrains such as broadacre farmlands, terraces, and orchards.

Top Market Players

Various notable players operating in the market, include, Intertek Group plc, Mistras Group, Wipro Limited, Intel Corporation, Lockheed Martin Corporation, Northrop Grumman, DJI, Parrot Drone SAS, GarudaUAV, Maverick Inspection Ltd, among others.

Key Developments:

• • In 2021, DJI launched the Air 2S drone packed with image sensors, range, and object tracking technology that makes it a recommendation for anyone looking for a portable prosumer drone.
  • In 2021, 4GD and Parrot Drone SAS announced the strategic partnership. Under the partnership, Parrot’s ANAFI USA drone will be integrated into 4GD’s synthetic training environment, giving users the ability to train for unmanned flight operations that exactly replicate live missions.

Segments covered in the Report:

The global drone inspection & monitoring market has been segmented on the basis of solution, type, operation, industry vertical and region. Based on solution, the market is segmented into software, service, platform, and infrastructure. Based on type, the market is segmented into fixed wing, multirotor, and hybrid. Based on operation, the market is segmented into remotely piloted, optionally piloted, and fully autonomous. Based on industry vertical the market is segmented into construction & infrastructure, agriculture, oil & gas, mining, utilities, and others.

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Key questions answered in this research report:

• • At what pace is global drone inspection & monitoring market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in drone inspection & monitoring market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global drone inspection & monitoring market?
  • Which solution generated maximum revenues in 2020 and identify the most promising Solution during the forecast period?
  • What are the various type areas of global drone inspection & monitoring market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Drone Inspection & Monitoring Market by Solution

• • Software
  • Solution
  • Platform
  • Infrastructure

Global Drone Inspection & Monitoring Market by Type

• • Fixed Wing
  • Multirotor
  • Hybrid

Global Drone Inspection & Monitoring Market by Operation

• • Remotely Piloted
  • Optionally Piloted
  • Fully Autonomous

Global Drone Inspection & Monitoring Market by Industry Vertical

• • Construction & Infrastructure
  • Agriculture
  • Oil & Gas
  • Mining
  • Utilities
  • Others

Global Drone Inspection & Monitoring Market by Region

• • North America Drone Inspection & Monitoring Market (Option 1: As a part of the free 25% customization)
    • North America Drone Inspection & Monitoring Market by Solution
    • North America Drone Inspection & Monitoring Market by Type
    • North America Drone Inspection & Monitoring Market by Operation
    • North America Drone Inspection & Monitoring Market by Industry Vertical
    • US Drone Inspection & Monitoring Market All-Up
    • Canada Drone Inspection & Monitoring Market All-Up
  • Europe Drone Inspection & Monitoring Market (Option 2: As a part of the free 25% customization)
    • Europe Drone Inspection & Monitoring Market by Solution
    • Europe Drone Inspection & Monitoring Market by Type
    • Europe Drone Inspection & Monitoring Market by Operation
    • Europe Drone Inspection & Monitoring Market by Industry Vertical
    • UK Drone Inspection & Monitoring Market All-Up
    • Germany Drone Inspection & Monitoring Market All-Up
    • France Drone Inspection & Monitoring Market All-Up
    • Spain Drone Inspection & Monitoring Market All-Up
    • Rest of Europe Drone Inspection & Monitoring Market All-Up
  • Asia-Pacific Drone Inspection & Monitoring Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Drone Inspection & Monitoring Market by Solution
    • Asia-Pacific Drone Inspection & Monitoring Market by Type
    • Asia-Pacific Drone Inspection & Monitoring Market by Operation
    • Asia-Pacific Drone Inspection & Monitoring Market by Industry Vertical
    • China Drone Inspection & Monitoring Market All-Up
    • India Drone Inspection & Monitoring Market All-Up
    • Japan Drone Inspection & Monitoring Market All-Up
    • Rest of APAC Drone Inspection & Monitoring Market All-Up
  • RoW Drone Inspection & Monitoring Market (Option 4: As a part of the free 25% customization)
    • RoW Drone Inspection & Monitoring Market by Solution
    • RoW Drone Inspection & Monitoring Market by Type
    • RoW Drone Inspection & Monitoring Market by Operation
    • RoW Drone Inspection & Monitoring Market by Industry Vertical
    • Brazil Drone Inspection & Monitoring Market All-Up
    • South Africa Drone Inspection & Monitoring Market All-Up
    • Saudi Arabia Drone Inspection & Monitoring Market All-Up
    • UAE Drone Inspection & Monitoring Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Drone Inspection & Monitoring Market All-Up

Major Players Operating in the Drone Inspection & Monitoring (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Intertek Group plc
  • Mistras Group
  • Wipro Limited
  • Intel Corporation
  • Lockheed Martin Corporation
  • Northrop Grumman
  • DJI
  • Parrot Drone SAS
  • GarudaUAV
  • Maverick Inspection Ltd