The Renewable Drones Market was valued at approximately USD 60 million in 2023 and is expected to grow at a substantial CAGR of around 27% during the forecast period (2024-2032)
The demand for Renewable Drones is witnessing an uptick on account of rising use of renewable energy to produce electricity. The Renewable Drones market is expected to grow with a significant CAGR in the coming years. The key reasons for this are that data can be collected almost 50 times faster with the help of drones. Solar farms are large parks and so manual check takes a long amount of time, whereas with the help of drones equipped with an appropriate thermal camera the detection can be made much faster. For example, usually wind turbines are inspected manually either by climbing or hanging down by a rope, which apart from being unsafe is also time consuming. With the help of drones this can be changes and data can be collected much more efficiently and in much less time. With the help of a drone 1 wind turbine (with 3 blades) can be inspected in 40 minutes. With the help of drones, solar and wind farm inspections are more accurate, faster, and more economical. This is expected to boost the renewable drones market in the coming times.
The recent covid-19 pandemic in 2019 took the world by a storm. The pandemic brought the world to a standstill. All industries have suffered some form of loss due to the pandemic. In addition to this the pandemic has also cost many lives. Till date there have been 177,470,620 covid-19 cases in the world and 3,839,931 deaths. Most nations around the world were affected by the pandemic which not only took lives but also took away jobs. The pandemic caused a huge economic burden all around the world with most industries bearing some form of loss. The Renewable Drones industry also saw a slowdown during the pandemic as the industries were shut and production was affected.
According to UnivDatos research report “Renewable Drones Market Analysis, 2020”, the Renewable Drones market is projected to grow at a CAGR of XX% during 2021-27F. Its ability to service and maintain solar and wind farms is one of the prominent reasons which is driving the market of the Renewable Drones. For Instance: With the help of a drone 1 wind turbine (with 3 blades) can be inspected in 40 minutes. Also, data can be collected almost 50 times faster with the help of drones.
Based on the Type, the market is fragmented into Multirotor and Fixed wing. Multirotor Segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Multirotor drones have various advantaged over fixed rotor drones like performing vertical takeoffs and landings. They do not need much space to take flight, can maneuver around objects and can hover mid-flight, which allows for easy inspection, modeling, and mapping. Wind turbine inspection costs can minimize by 40% with the help of drones.
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End-to-end Solutions Segment to Witness Robust growth
Based on solutions, the market is fragmented into End-to-end solution and Point solution. End-to-end solutions segment had the highest revenue and CAGR growth in the analyzed period. End-to-end solutions includes everything from data analysis, accessories, reports etc. for the client such that nothing must be supplied from the outside. These solutions include supplying customers with drone pilots, drones, engineers, data management, software, analytics, processing, consulting, and advisory services.
Asia-Pacific to Grab Lion’s Share, and witness Explicit Growth
Based on the Region, Asia-Pacific dominated the Renewable Drones market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to increasing demand for electricity and renewables. For example, according to IRENA, the number of solar PVs in Asia was 280 in 2018 which is expected to grow to 1,860 in 2030 and 4,837 in 2050. Asia-Pacific is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos’ research report “Renewable Drones Market Analysis, 2020”.
According to UnivDatos, the key players with a considerable market share in the Renewable Drones Market are DJI Enterprise, Terra Drone, AgEagle Aerial Systems, DroneDeploy, Parrot Group, ABJ Drones, DRONE VOLT Group, Airpix, Sitemark, Skylark Drones, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
In July 2021, FlytBase announced that FlytNow is now fully compatible with the Mavic 2 Enterprise Advanced (M2EA) drone. The new M2EA is its most powerful model with higher-resolution thermal and visual cameras, centimeter-level positioning with RTK, and extra long-range connectivity, among other industry-leading features.
In July 2021, Keltbray used drones to double inspection efficiency and cut carbon emissions by almost 50% on utilities infrastructure jobs.
In November 2020, aquiline drones signed exclusive manufacturing and distribution license agreement with world’s top drone and sensor company, drone volt.
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“Renewable Drones Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Renewable Drones providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
Market Segmentation:
By Type (Multirotor, Fixed wing)
By Solution (End-to-End Solution, Point Solution)
By End-User (Solar, Wind)
By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (DJI Enterprise, Terra Drone, AgEagle Aerial Systems, DroneDeploy, Parrot Group, ABJ Drones, DRONE VOLT Group, Airpix, Sitemark, Skylark Drones etc.)
Key questions answered in the study:
What are the current and future trends of the Renewable Drones industry?
How the industry has been evolving in terms of end-user demand and application areas?
How the competition has been shaping across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the Renewable Drones industry?
What is the customer orientation, purchase behavior, and expectations from the Renewable Drones firms across various regions?
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