The drone inspection and monitoring market has been witnessing robust growth over the past few years, and is projected to continue its upward trajectory. From its valuation of $13.48 billion in 2024, the market is expected to rise to $15.6 billion by 2025, at a compound annual growth rate (CAGR) of 15.7%. Factors such as cost-efficiency, safety enhancement, data accuracy, regulatory advancements, and increased efficiency and speed have contributed to this impressive growth in recent years.
Looking ahead, the market is expected to develop and expand at a pace even more impressive than ever. By 2029, it is projected to be worth $31.65 billion, advancing at a remarkable CAGR of 19.4%. Industry-specific solutions, remote monitoring, integration with IoT, environmental sustainability, and real-time data streaming are some key factors that will propel growth in the forecast period. Some of the major trends during the forecast period include autonomous drones, beyond visual line of sight (BvLOS), advanced sensors, environmental monitoring, and infrastructure inspection.
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Which Factors Are Propelling The Growth Of The Drone Inspection And Monitoring Market?
An increase in the number of new wind turbine installations is a key driving force fuelling the growth of the drone inspection and monitoring market. Wind turbines, which generate electricity from wind kinetic energy, use drones for the inspection of their blades, which not only promote longer lifespans for the installations, but also mitigate safety hazards and diminishing manpower and costs. For instance, around 8.6% of Vietnam’s land area is suitable for wind power generation. By 2030, the installed capacity for onshore and near-shore wind power is expected to reach 11.3 GW, up from the current capacity of 5.8 GW in 2021. This increase in wind turbine installations will be pivotal for the growth of the drone inspection and monitoring market.
What Are The Major Segments Within The Global Drone Inspection and Monitoring Market?
1) By Type: Fixed Wing, Multirotor, Hybrid
2) By Mode of Operation: Remotely Piloted, Optionally Piloted, Fully Autonomous
3) By Solution: Software, Services, Platform, Infrastructure
4) By Application: Construction And Infrastructure, Agriculture, Utilities, Oil And Gas, Mining, Other Applications
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Which Key Companies Are Operating in The Drone Inspection And Monitoring Market?
Major companies operating in the drone inspection and monitoring market include Lockheed Martin Group, Aerovironment Inc., Sky Futures Partners, Teledyne Flir LLc, Israel Aerospace Industries, BAE Systems PLC, Parrot SA, Northrop Grumman Corporation, Aerialtronics DV, Guangzhou EHang Intelligent Technology Co. Ltd, ideaForge Technology Limited, Insitu Inc., Sensefly Ltd., Skydio, Yuneec International, Airobotics Ltd., Delair, DroneDeploy, Elbit Systems, Flyability, GarudaUAV Soft Solutions Pvt. Ltd., Hemav, Hoverfly Technologies, Intelinair Inc., Kespry, Matternet, Percepto, Raptor Maps, Terra Drone Corporation, Textron Systems, ULC Robotics, Unifly, Zipline.
What Are The Latest Trends In The Drone Inspection And Monitoring Market?
The drone inspection and monitoring market is being strongly shaped by innovative solutions like autonomous drone inspection services. These services leverage unmanned aerial vehicles armed with advanced technologies to conduct inspections and monitor tasks without human control, thus enhancing operational efficiency, reducing costs, and improving safety. For instance, in March 2024, Aerones, a US-based civil engineering company, launched an autonomous drone inspection service for wind turbine blades that revolutionized maintenance practices in the renewable energy sector. Equipped with a high-resolution 100-megapixel camera, the drones capture detailed images, which are then analyzed using AI to detect and categorize any damage.
Which Region Is Dominating In The Drone Inspection And Monitoring Market?
In 2024, North America led the global drone inspection and monitoring market. During the forecast period, the region is anticipated to grow the fastest. The report covers the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is The Scope Of The Drone Inspection And Monitoring Market Report 2025?
Drone inspection and monitoring involves evaluating an asset using unmanned aircraft because drones can access locations that are challenging, expensive, risky, live, or impossible for manned inspection teams to access. In inspection and monitoring applications, drone cameras often replace the human eye. The use of drones for inspection and monitoring allows inspectors to avoid risky locations such as scaffolding or tall buildings. Drone inspection and monitoring are used to collect visual data on the condition of an asset through monitoring, inspection, and mapping operations. The Drone Inspection And Monitoring Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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