Drone Inspection and Monitoring Market Outlook – 2030
The global drone inspection and monitoring market size was valued at $6.44 billion in 2020, and is projected to reach $35.11 billion by 2030, registering a CAGR of 16.1% from 2021 to 2030. Drone inspection and monitoring is a drone-based solution for inspection, monitoring, and mapping operations. By using this platform, companies can plan and perform their operations, monitor the drones in real time, and create reports & analysis right from their office.
The growth of the global drone inspection and monitoring market is anticipated to be driven by factors such as increased demand for safe, accurate inspection & monitoring device, and rise in technological advancements in drones. In addition, surge in usage of drones as remote visual inspection tool for critical infrastructure applications boosts the overall market growth. However, lack of trained personnel to operate drones for inspection and monitoring applications acts as a major restraint for the global drone inspection and monitoring industry. On the contrary, advances in lidar technology for commercial drones is expected to create lucrative opportunities for the drone inspection and monitoring industry.
Segment Overview
The global drone inspection and monitoring market is segmented into solution, type, operation mode, application, and region. By solution, the market is classified into platform, software, infrastructure, and services. Depending on type, the market is categorized into fixed wing, multirotor, and hybrid. By operation mode, the market is segmented into remotely piloted, optionally piloted, and fully autonomous. On the basis of application, the market is classified into construction & infrastructure, oil & gas, mining, agriculture, utilities, and others.
Region wise, the drone inspection and monitoring market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America dominated the drone inspection and monitoring market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the city infrastructure sector. However, Asia-Pacific is likely to witness significant growth rate by the end of the forecast period, followed by LAMEA.
Leading drone inspection and monitoring market manufacturers such as Parrot SA, Northrop Grumman Corporation, and SZ DJI Technology Co., Ltd. are focusing their investment on technologically advanced, cost-effective, and more secure products & solutions for various applications.
By Type
Hybrid segment is expected to secure leading position during forecast period.
Top Impacting Factors
The prominent factors that impact the drone inspection and monitoring market growth are increased cost-saving & human safety and surge in demand for improved surveillance. In addition, emergence of various start-ups drives the drone inspection and monitoring market. However, issues with drone safety & security related concern restricts the market growth. On the contrary, technological advancements in drones are expected to create lucrative opportunities for the market.
Competitive Analysis
Competitive analysis and profiles of the major drone inspection and monitoring market players such as American Robotics, Aerovironment Inc., Ageagle Aerial Systems Inc., DJI, Israel Aerospace Industries, Microdrones, Parrot Drones, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp. have been covered in the report. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.
By Application
Construction and Infrastructure segment is projected as one of the most lucrative segments.
COVID-19 Impact Analysis
The outbreak of COVID-19 has significantly affected the market. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases. Furthermore, partial or complete lockdown disrupted global supply chain, posing challenges for manufactures to reach customers.
The COVID-19 pandemic has impacted the society and economies across the globe. The impact of this outbreak is growing day-by-day as well as affecting businesses globally. The crisis has created uncertainty in the stock market and has resulted in low business confidence, massive slow down of supply chain, and increased panic among the customer segments.
Asian and European countries under lockdowns have suffered major loss of business and revenue, due to the shutdown of manufacturing units. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the drone inspection and monitoring market.
In addition, the COVID-19 pandemic has impacted the electronics sector, as the production facilities were stalled. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which may hinder the drone inspection and monitoring market.
By Region
Asia-Pacific would exhibit the highest CAGR of 17.5% during 2021-2030
Key Benefits for Stakeholders
- This study comprises analytical depiction of the global drone inspection and monitoring market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall drone inspection and monitoring market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current drone inspection and monitoring market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the drone inspection and monitoring market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Drone Inspection and Monitoring Market Report Highlights
| Aspects | Details |
 By Solution |
|
 By Type |
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 By Operation Mode |
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 By Application |
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 By Region |
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 Key Market Players | Parrot Drones, DJI, Yamaha Motor Corp., Aerovironment Inc., PrecisionHawk, Trimble Inc., American Robotics, Israel Aerospace Industries, Microdrones, Ageagle Aerial Systems Inc. |
Analyst Review
The global drone inspection and monitoring market has flourished at a rapid pace. However, issues with drone safety & security are still a concern for new entrants. Market players are generously investing in R&D activities to develop improved components so as to tackle these issues of drone inspection and monitoring products. Moreover, according to industry experts, it is essential to optimize affordable prices for drone inspection and monitoring products for long-term growth.
The growth of the global drone inspection and monitoring market is anticipated to be driven by factors such as increased demand for safe & accurate inspection & monitoring device and rise in technological advancements in drones. In addition, surge in usage of drones as remote visual inspection tool for critical infrastructure applications, boosts the overall market growth. However, lack of trained personnel to operate drones for inspection and monitoring applications act as a major restraint for the global drone inspection and monitoring industry. On the contrary, advances in lidar technology for commercial drones are expected to create lucrative opportunities for the drone inspection and monitoring industry.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launches, acquisition, collaboration, and partnership are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region. However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of drone inspection and monitoring in a variety of fields.
The drone inspection and monitoring market is estimated to grow at a CAGR of 16.1% from 2021 to 2030.
The drone inspection and monitoring market is projected to reach $35.11 billion by 2030.
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Increased demand for safe, accurate inspection & monitoring device, and rise in technological advancements in drones
The key players profiled in the report include American Robotics, Aerovironment Inc., Ageagle Aerial Systems Inc., DJI, Israel Aerospace Industries, and many more.
On the basis of top growing big corporations, we select top 10 players.
The drone inspection and monitoring market is segmented on the basis of solution, type, operation mode, application, and region.
The key growth strategies of drone inspection and monitoring market players include product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration.
Agriculture segment would grow at a highest CAGR of 17.6% during the forecast period.
North America region will dominate the market by the end of 2030.
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