Utility Drone Market Size & Insights

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 market growth is likely to be driven primarily by the mounting need to reduce outages associated with power infrastructures, coupled with enhancing the cost & time efficiency in asset management & reachability at hazardous locations. The commercial use of drones is anticipated to display an exponential rise in the coming years as numerous start-ups are emerging across developing economies.

What are the Key DROs in the Utility Drone Market?

Rising Infrastructure Inspection Driving the Demand for Utility Drone in the Market – The market for drone-based infrastructure inspection has experienced substantial growth during the historical years. This is primarily due to safety concerns, which prompted utility companies to increasingly rely on drones for inspecting critical infrastructure like power lines, pipelines, and bridges, as they eliminate the need for human workers to access hazardous or hard-to-reach areas.

What are the Key Segments in the Utility Drone Market?

The Utility Drone is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Type

• Multi Rotor
• Fixed Wing

Multi-rotor drones are projected to continue their dominance in the Global Utility Drone Market during 2024-29.

By Services

• End-to-End Solution
• Point Solution

By End User

• Power Vertical
  • Power Generation
  • Power Transmission
• Renewable Vertical
  • Wind
  • Solar

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By Application

• Real-time Monitoring
• Risk Identification & Management
• Asset Management
• Predictive Maintenance
• Others

How does geographical analysis highlight in the Utility Drone market?

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Asia-Pacific is expecting a rapid expansion in the Utility Drones Market during 2024-29. 

Who are the Key Players in Utility Drone Market?

• Asset Drone
• Cyberhawk
• ABJ Drones
• Terra Drone
• Measure
• Sharper Shape
• Sky Scape
• ULC Robotics
• Sky-Futures
• Precisionhawk and others
  
  

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Utility Drone Market News

• 2023: Teera Drone raised USD 14 million in Series C funding from Wa’ed Ventures, the venture capital arm of Saudi Aramco.

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Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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