Sep 14,2021 | Aerospace & Defence
Drones are extremely important to utilities for conducting inspection activities. In certain cases, such as Behind Visual Line of Sight, over a long distance, or at night, these regulations exclude drone operations in particular. With renewable drones the industry has planned to expand at a rapid pace, as it focuses on UAV services, line-of-sight applications, ocean-going ship tracking, inspection or wind turbine inspection, inspection of offshore platforms and refineries, monitoring of power lines, and solar panels in the energy sector. As one way to alleviate congestion and enhance air quality in urban areas, passenger drones have been touted. Equipped with thermal cameras, drones make it possible to conduct inspections rapidly and on a scale.
Renewable Drones Market is expected to surpass US$ 152 million by 2030 from US$ 42 million in 2019 at a CAGR of 26.5% throughout the forecast period of 2020-30. The key factors driving the demand for sustainable drones are expected to increase the adoption of drones to reduce the cost of inspection operations based on asset optimization and increasing construction of solar and wind farms. Some of the key market players include DJI Enterprise, Terra Drone, Cyberhawk Innovations Limited, Precision Hawk, ULC Robotics, Sharper Shape Inc., Sky Futures, Asset Drone and YUNEEC.
Asia Pacific held the largest market share in the year 2018 and it is expected to continue its market dominance in the future, as the region has a strong electricity demand owing to an increase in urbanization, industrialization, and population growth. A rapid rise in economic growth will lead to an increase in electricity demand. The region's market is likely to be driven by high investments in renewable energy generation, especially in developing countries such as China and India, and government subsidies for upgrading the renewable energy sector.
Owing to the rapidly decreasing prices of solar panels, the area is expected to experience an increase in investment. Due to extensive agricultural land and attempts to minimize the usage of fossil fuel oil, the demand for renewable drones in the Middle East & Africa is expected to grow at a significant pace during the forecast period. Government pollution-free and clean energy policies are also expected to drive the region's green drone market during the forecast period.
The latest report offered on Bharatbook covers the company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional Presence and SWOT analysis. The study also includes current trends, issues & challenges, competition & companies involved in the market, challenging factors, as well as the growth drivers of the market.
For more details, please visit Renewable Drones Market.