Renewable Drones Market

Renewable Drones Market registered a revenue of USD 61 million in 2021 and is forecast to reach USD 471 million in 2029, growing at a whopping CAGR of 29.1% over the forecast period, owing to the growing application of drones to achieve optimum maintenance across large installations like solar farms.

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Key Drivers

The global renewable drones market is anticipated to grow at a sustainable rate in the next six years. This is mainly due to the accelerating adoption of drones for decreasing the cost of inspection operation, along with the rising emphasis on asset optimization at the global level. Moreover, the constant growth of the construction of solar and wind farm is further contributing to the growth of the market in the coming years. The solar farms have large installations, which has surged the need for a thermal camera that can scan the entire farm for defects in a faster speed as compared to the hand-held thermal camera on the ground. A drone can conduct an inspection of 1 wind turbine in around 40 minutes. Thus, the ability of drones to deliver faster, accurate, and economical solutions for solar and wind farm inspections is another major factor that is surging the demand of the market. Increasing demand for clean energy applications in drone technology across several, changing trends and expansion in agriculture and the logistics industry are some other factors projected to expand the market growth.

The constant growth in the renewable energy sector is opening new doors for the demand of drones. The renewable energy plants are being developed at a faster pace by using advanced technologies to cope up with the strong demand for clean and sustainable energy. This factor is bringing numerous growth opportunities for the market. Additionally, the increasing demand for UAVs, particularly for the line-of-sight applications, to observe ocean-going ships, to inspect offshore platforms and refineries, and to monitor power lines and solar panels, is further energizing the demand for drones around the world. On the other edge, the various legal regulations for performing drone operations is a major factor that is likely to hamper the growth of the market. The insufficient synchronization of these laws over the constant technological advancements in drone technology is likely to hamper the market growth.

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Drone Type Segment Analysis

Based on the drone type, the multirotor segment is anticipated to grow at a higher CAGR during the forecast period. This is mainly to the numerous advantages offered by multi-rotor aircraft as compared to fixed-wing drones. The multi-rotor drone need less space to take flight, can hover mid-flight, and manoeuvre around objects for inspection, modeling, and mapping. They are specially designed to be folded down and packed up into smaller cases, which makes them easier to transport. The multirotor drones offer enormous advantages over fixed-wing drones in terms of landings, hovering mid-air, and controlled navigating with the help of multiple propellers, which will boost the segment’s growth. Moreover, multirotor drones also offer a compact packing and transportations, which will bolster the segment’s growth.

Solution Segment Analysis

On the basis of solution, the end-to-end solution segment is expected to witness a faster CAGR in the next six years. The end-to-end solution means that the service provider is supplying the drones and accessories, data analysis, and repots to the client in such a way that no other vendor is involved in capturing the demand. Furthermore, the increasing usage of drones for farm inspection as it involves many complexities that need special expertise to deliver accurate results which will further surge the growth of the segment.

End-User Segment Analysis

Based on the end-user, the solar segment is expected to dominate the market over the forecast period. The growing demand for solar farm inspection and maintenance among the asset owners, drone service providers, and inspectors is a significant factor that is increase the demand of the segment.

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Regional Analysis

Based on the region, Asia-pacific region is projected to lead the renewable drone market during the forecast period. The strong demand for electricity driven by rapid urbanization, industrialization, and growing population rate, is encouraging the government to invest in the renewable power generation infrastructure, which will surge the demand for drones in the renewable energy sector. Moreover, the increasing number of subsidies for upgradation of renewable energy sector will further boost the market growth in the region. Increasing number of electric appliance users in the developing nations like China and India will offer enormous opportunities to the market. The region is expected to experience an increase in investments due to the rapidly declining prices of solar panels. The North American renewable drones market is expected to witness a promising growth over the forecast period, owing to the strategic norms for solar energy and increasing demand from different industries.

Top Market Players

Various notable players operating in the market, include Sitemark, ABJ Drones, Parrot Drone SAS, Dronevolt, Siemens, Measure Australia, Advanced Vision Analytics Pte Ltd., PrecisionHawk, Skylark Drones, and Garudauav, among others. 

Key Developments: 

• • In 2020, Terra Drone established a new base, named Terra Drone Technology Malaysia Sdn Bhd (TDMY), in Kuala Lumpur, Malaysia. TDMY will offer drone survey, inspection, and industrial services across various industries like oil & gas, power, construction, telecommunications, agriculture, and government agencies.
  • In 2020, Siemens Gamesa entered into a contract with Trianel Windkraftwerk Borkum II GmbH & Co. KG for a 5-year full scope offshore service and maintenance of Trianel Windpark Borkum II. The installation of the 32 Senvion 6.33-MW turbines was completed in May 2020. TWB II has a total output capacity of 200 MW and produces clean energy for around 200,000 households each year.
  • In 2020, Siemens won a contract from Trianel Windkraftwerk Borkum II GmbH & Co. KG for a 5-year full scope offshore service and maintenance of Trianel Windpark Borkum II. The installation of the 32 Senvion 6.33-MW turbines were completed in May 2020. TWB II has a total output capacity of 200 MW and generates clean energy for around 200,000 households per year.

The global Renewable Drones Market has been segmented on the basis of Drone Type, Solution, end-users and key regions. Based on Drone Type, the market is segmented into Multirotor and Fixed Wing. Based on Solution, the market is segmented into End-to-End Solution and Point Solution. Based on end-users the market is segmented into Solar and Wind. 

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Key questions answered in this research report:

• • At what pace is global Renewable Drones Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Renewable Drones 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 Renewable Drones Market?
  • Which solution generated maximum revenues in 2021 and identify the most promising solutions during the forecast period?
  • What are the various end-user areas of global Renewable Drones 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?

Report Coverage	Details
Market Revenues (2021)	USD 61 million
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Drone Type, By Solution, By End-Users, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Sitemark, ABJ Drones, Parrot Drone SAS, Dronevolt, Siemens, Measure Australia, Advanced Vision Analytics Pte Ltd., PrecisionHawk, Skylark Drones, and Garudauav, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Renewable Drones Market by Drone Type

• • Multirotor
  • Fixed wing

Global Renewable Drones Market by Solution

• • End-to-end solution
  • Point solution

Global Renewable Drones Market by End-Users

• • Solar
    • Solar PV
    • Solar CSP
  • Wind

Global Renewable Drones Market by Region

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

Global Renewable Drones Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sitemark
  • ABJ Drones
  • Parrot Drone SAS
  • Dronevolt
  • Siemens
  • Measure Australia
  • Advanced Vision Analytics Pte Ltd.
  • PrecisionHawk
  • Skylark Drones
  • Garudauav