North America Region Witnessing the Highest Growth in Drone Inspection and Monitoring Market


Posted August 24, 2021 by AerospaceDefense

The overall drone inspection & monitoring market is projected to grow from USD 9.1 billion in 2021 to USD 33.6 billion by 2030, at a CAGR of 15.7% from 2021 to 2030.

 
The overall Drone Inspection & Monitoring Market is projected to grow from USD 9.1 billion in 2021 to USD 33.6 billion by 2030, at a CAGR of 15.7% from 2021 to 2030. North America is estimated to account for the largest share of the drone inspection & monitoring market from 2021 to 2030. Drones are being adopted for inspection and monitoring in almost all industries that require a visual inspection of assets as part of their maintenance practices. Visual inspection is essential to ensure the appropriate maintenance of a company’s resources. Drone cameras usually perform the tasks of a human eye during inspection and monitoring applications. With drone-based inspection and monitoring, inspectors can skip visiting dangerous places like scaffoldings or tall, lean towers.

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“By application, Construction & Infrastructure sub-segment of DRONE INSPECTION AND MONITORING Market would have the highest CAGR during the forecast period”

Based on application, the Drone Inspection and Monitoring market has been classified into agriculture, construction & infrastructure, oil & gas, utilities, mining, and others. For this segment of the Drone Inspection and Monitoring Market, the Construction & Infrastructure sub-segment is projected to register the highest market size from 2021 to 2030 and it has the highest CAGR from 2021 to 2030. This is due to high quality, accurate and cost-effective data processing with drone technology.

“By solution, the services segment is estimated to lead the DRONE INSPECTION AND MONITORING market”

By solution, the Drone Inspection and Monitoring market has been segmented into platform, infrastructure, software and services. Each of them performs a different function and ensures drone’s functioning in different applications. By solution, the services segment is estimated to lead the drone inspection & monitoring market in 2021 to 2030 due to the quick, cost-effective, and accurate data processing capabilities of drones compared to traditional methods. Also, the platform segment is projected to have the highest CAGR during the forecast period.

“By type, the hybrid segment is projected to register the highest CAGR during the forecast period”

Based on type, the drone inspection & monitoring market has been segmented into fixed wing, multirotor, and hybrid. The hybrid segment is projected to register the highest CAGR during the forecast period due to hybrid drones’ enhanced payload and endurance capabilities compared to fixed-wing and multirotor type drones. Also, the multirotor segment would have the highest market share of Drone Inspection and Monitoring during the forecast period.

“By mode of operation, optionally piloted segment is estimated to account for the largest market share of DRONE INSPECTION AND MONITORING market during the forecast period”

Based on mode of operation, the drone inspection & monitoring market has been segmented into remotely piloted, optionally piloted, and fully autonomous. The optionally piloted segment is estimated to account for the largest share in 2021 to 2030 for the drone inspection & monitoring market during the forecast period owing to its demand in precision agriculture, disaster relief, traffic monitoring, and building inspection. Also, the fully autonomous segment is projected to grow with the highest CAGR during the forecast period.

“Asia Pacific is projected to grow at the highest CAGR during the forecast period.”

The drone inspection & monitoring market in Asia Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market can be attributed to the increasing demand for drones in growing economies like China and India, where drones are widely employed for inspection and monitoring tasks in the agriculture and utility sectors.

Also, the growth of the drone inspection & monitoring market in North America can be attributed to the increased demand for drones in sectors such as infrastructure & construction, agriculture, oil & gas, mining and utilities. The US is estimated to account for the largest market share of the drone inspection & monitoring market in North America from 2021 to 2030. MISTRAS Group (US), Lockheed Martin (US), and Intel Corporation (US) are some of the leading drone manufacturers in the US.

Key Market Players

Key players operating in the Drone Inspection and Monitoring market include Intertek (UK), MISTRAS Group (US), Wipro (India), Intel Corporation (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), SZ DJI Technology Co., Ltd. (China), Parrot SA (France).

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Contact Email [email protected]
Issued By marketsandmarkets
Country United Kingdom
Categories Aerospace , Reports , Research
Tags Drone Inspection and Monitoring Market
Last Updated August 24, 2021