Drone Inspection And Monitoring Market Size and Forecast 2024-2033| Lockheed Martin Group, Aerovironment Inc., Sky Futures Partners, Teledyne Flir LLc, Israel Aerospace Industries

Overview and Scope

Drone inspection and monitoring refers to the technique of evaluating an asset utilizing an unmanned aircraft as drones have the benefit of accessing locations that are challenging, expensive, risky, live, or even impossible for manned inspection teams to access. In inspection and monitoring applications, drone cameras frequently take the place of the human eye. The use of drones for inspection and monitoring allows inspectors to avoid risky locations like scaffolding or tall, slender buildings. The drone inspection and monitoring are used to collect visual data on the condition of an asset by monitoring, inspection, and mapping operations.

Sizing and Forecast

The drone inspection and monitoring market size has grown rapidly in recent years. It will grow from $11.9 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to cost-efficiency, safety enhancement, data accuracy:king, regulatory advancements, efficiency and speed.

The drone inspection and monitoring market size is expected to see rapid growth in the next few years. It will grow to $27.51 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to industry-specific solutions, remote monitoring, integration with iot, environmental sustainability, real-time data streaming. Major trends in the forecast period include autonomous drones, beyond visual line of sight (bvlos), advanced sensors, environmental monitoring, infrastructure inspection

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Segmentation & Regional Insights

The drone inspection and monitoring market covered in this report is segmented –

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

North America was the largest region in the drone inspection and monitoring market in 2023. North America is expected to be the fastest growing region in the drone inspection and monitoring market during the forecast period. The regions covered in the drone inspection and monitoring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The increase in number of installations of new wind turbines is expected to propel the growth of the drone inspection and monitoring market going forward. A wind turbine is a device that produces electricity by using the kinetic energy of the wind. Drones are used to inspect wind turbine blades and help to extend the life of wind turbine installations by reducing safety hazards, hired manpower, and costs. For instance, in March 2021, according to Mercom Communications, an India-based clean energy communications and consulting firm, in 2021, the new wind turbine installations reached 1.24 GW, an increase of 101.37% from 2020. Therefore, the increasing number of installations of new wind turbines is driving the growth of the drone inspection and monitoring market.

Key Industry Players

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, 3D Robotics, Aerialtronics DV, Guangzhou EHang Intelligent Technology Co. Ltd., ideaForge Technology Limited, Insitu Inc., Sensefly Ltd., Skydio, Yuneec International, Airobotics Ltd., Alke, CyPhy Works, Delair, Drone Aviation Holding Corp., DroneDeploy, Elbit Systems, Flyability, GarudaUAV Soft Solutions Pvt. Ltd., Hemav, Hoverfly Technologies, Intelinair Inc., Kespry, Groupe Latécoère, Matternet, Percepto, Raptor Maps, Terra Drone Corporation, Textron Systems, ULC Robotics, Unifly, Zipline

The drone inspection and monitoring market report table of contents includes:

1. Executive Summary

2. Drone Inspection And Monitoring Market Characteristics

3. Drone Inspection And Monitoring Market Trends And Strategies

4. Drone Inspection And Monitoring Market – Macro Economic Scenario

5. Global Drone Inspection And Monitoring Market Size and Growth

26. South America Drone Inspection And Monitoring Market

27. Brazil Drone Inspection And Monitoring Market

28. Middle East Drone Inspection And Monitoring Market

29. Africa Drone Inspection And Monitoring Market

30. Drone Inspection And Monitoring Market Competitive Landscape And Company Profiles

Top Major Players: