Press Release

Rising Power Outages Worldwide to Boost the Utility Drones Market through 2029

According to MarkNtel Advisors, the Global Utility Drone Market is valued at around USD 318 million in 2023 and is estimated to grow at a CAGR of around 29.12% during the forecast period, i.e., 2024-29. The burgeoning demand to reduce outages related to transmission & distribution lines and the rapidly increasing application of drone technology across several verticals like research & surveillance, weather forecasting, asset management, drone-based farming, etc., are the prime aspects projected to drive the utility drone market through 2026. The information accuracy, task effectiveness, and affordability associated with utility drones are propelling their demand across industries like power, oil & gas, etc., thereby augmenting the market growth.

Moreover, the growing need for outrage detection & monitoring in Transmission & Distribution (T&D) lines & substations, coupled with technological advancements in drones like improved cameras, better reachability, & time efficiency, are other crucial aspects anticipated to fuel the overall market growth in the coming years, further states the research report, “Global Utility Drone Market Analysis, 2021.”

With Increasing Establishment of Wind Farms, Asia-Pacific to Witness the Fastest Market Growth

The mounting adoption of utility drones to inspect risky infrastructure of renewable energy installations is the prime factor that would lead Asia-Pacific to attain the fastest growth in the utility drones market over the forecast years. Across the region, India & China have established several wind farms that comprise windmills & wind turbines, which are prone to rainfall, hailstorms, lightning, etc. Hence, the need for utility drones to constantly monitor windmills & turbines is burgeoning across these countries and, in turn, boosting the regional market growth.

The application of utility drones enables instant detection of potential threats & issues without any human intervention. Besides, their time & cost-efficiency to gather & process on-site analysis is another crucial aspect anticipated to stimulate the regional market growth in the coming years.

Multi-Rotor Drones to Lead the Market with the Largest Share Through 2029

The extensive use of Multi-Rotor drones for inspecting, monitoring, & photography is the prime aspect likely to lead them to attain the largest market share during 2024-29. Multi-rotor drones are used extensively for different applications but mainly for airborne photography & equipment monitoring. Besides, the prompt availability of these drones, coupled with their affordable prices & efficient functioning in confined areas, are other crucial aspects contributing to their burgeoning demand worldwide and driving the global market, reveals MarkNtel Advisors in their research report, "Global Utility Drone Market Analysis, 2024."

Competitive Landscape:

The leading players in the Global Utility Drone Market include Asset Drone, Cyberhawk, ABJ Drones, Terra Drone, Measure, Sharper Shape, SkyScape, ULC Robotics, Sky-Futures, and PrecisionHawk.

Key Questions Answered in the Research Report:

1. What are the current & future trends in the Global Utility Drone Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Utility Drone Market?
5. What are the customer orientation, purchase behavior, and expectations from utility drone manufacturers across various regions?

Market Segmentation:

1. By Type (Multi-Rotor, Fixed Wing)
2. By Services (End-to-End Solution, Point Solution)
3. By End User (Power Vertical (Power Generation, Power Transmission), Renewable Vertical (Wind, Solar))
4. By Application (Real-time Monitoring, Risk Identification & Management, Asset Management, Predictive Maintenance)
5. By Region (North America, South America, Europe, Middle East & Africa, Asia- Pacific)
6. By Country (The US, Canada, Mexico, Brazil, Argentina, Germany, Italy, The UK, France, Russia, Saudi-Arabia, UAE, South Africa, China, India, Australia, Japan)
7. By Company (Asset Drone, Cyberhawk, ABJ Drones, Terra Drone, Measure, Sharper Shape, SkyScape, ULC Robotics, Sky-Futures, PrecisionHawk)