Drone Inspection and Monitoring Market - By Solution (Platform, Software, Infrastructure, Services), By Type (Fixed Wing, Multirotor, Hybrid), By Mode of Operation (Remotely Piloted, Optionally Piloted, Fully Autonomous), By Application & Forecast, 2023 - 2032

Drone Inspection and Monitoring Market Size

Drone Inspection and Monitoring Market size reached USD 10 billion in 2022 and is poised to exhibit over 15% CAGR between 2023 and 2032. The increased number of new wind turbine installations is expected to propel the busines growth. A wind turbine is a device that uses the kinetic energy of the wind to generate electricity. Drones are used to inspect wind turbine blades, extending their life by reducing safety hazards, hired workforce, and costs. Major companies are developing new technologies to strengthen their position.
 

The drone inspection and monitoring market has witnessed significant growth owing to the advent of advanced technologies and advantages it offers such as reduced costs, increased human safety, and improved efficiency. By deploying drones for inspection & monitoring purposes, humans, airplanes, helicopters, and organizations can now achieve previously inaccessible levels of visibility at reasonable cost, rather than employing traditional methods. Drones are used to improve worker safety and provide access to asset information in numerous dynamic & complex industries. Inspections and monitoring done by drones can accurately identify the problems that require attention most of the time. Human inspectors are not as effective as drones while performing inspections and monitoring.
 

The short flight duration and limited payload capacity may hamper market growth. They cannot fly for more than 15 to 30 minutes before needing to be replaced or recharged. To complicate matters further, flying duration decreases as payload increases. This results in frequent intervals during demanding tasks such as bridge inspection and monitoring or reacting to major disasters. The drones are unable to complete long-duration tasks due to these limitations.
 

COVID-19 Impact

The COVID-19 pandemic restrained global market growth. It caused economic havoc and resulted in unprecedented losses. During the pandemic, policymakers, business players, and drone inspection & monitoring participants attempted to combat economic failure. The stakeholders in the drone inspection and monitoring industry implemented effective plans, making quick decisions, and reorganizing the entire market framework. As a result, their businesses remained operational.
 

Drone Inspection and Monitoring Market Trends

Drones are excellent solutions for a variety of tasks that are deemed hazardous to human life. The government and industrial sectors are increasingly demanding drone inspection and monitoring equipment due to the option of remote handling and features such as high-resolution cameras. The increased use of robots to perform tasks that are dangerous for humans has surged the demand for drones. Industries, such as mining and oil & gas, are increasingly adopting drones, contributing to the global market expansion. The increased use of drones for monitoring sensitive areas by governing bodies worldwide has created a high demand for drone inspection and monitoring equipment.
 

Drone Inspection and Monitoring Market Analysis

Based on the solution, the service segment held approximately 45% of the market share in 2022 and is estimated to grow at a lucrative pace through 2032. The more rapid, cost-effective, and accurate data processing capabilities of drones when compared to traditional methods, are driving segment growth. Manufacturers are constantly developing innovative products with a steady flow of funding for inspection, aerial surveys, autonomous flight paths, remote sensing, and search & rescue applications, which were previously difficult to approach by using traditional methods. These factors are proliferating segment growth.
 

Based on type, the fixed-wing segment captured around 35% of the drone inspection and monitoring market revenue share in 2022. A fixed-wing drone is equipped with a single rigid wing that looks and functions similar to an airplane and provides lift rather than vertical lift rotors. It can be operated in different modes including remotely piloted, optionally piloted, and fully autonomous. These features will increase the demand for fixed-wing drones.
 

Based on application, the drone inspection and monitoring market is categorized into construction & infrastructure, agriculture, oil & gas, utilities, mining, and others. The construction & infrastructure segment is anticipated to observe 10% CAGR through 2032. The wide use of the equipment has transformed construction processes. Drones are increasingly being used in construction projects to conduct visual inspections and monitoring of high-density areas. With their ability to monitor & capture real-time data, drones improve the efficiency of on-site communication and management.
 

North America dominated the global drone inspection and monitoring market with over 40% share in 2022. The increased use of drones for asset monitoring and oil & gas applications is forecast to contribute to market expansion in this region. Due to the growing demand for drones in several applications, the U.S. and Canada are increasing their investments in drone development.
 

Intel Corporation, Lockheed Martin Corporation, and MISTRAS Group, Inc. are major players in the global market. These companies use strategies, such as product & service launches, contracts, partnerships, agreements, and expansions, to maintain their market position. They are focused on expanding their distribution networks throughout North America, which will drive the market growth.
 

Drone Inspection and Monitoring Market Share

Some major players operating in the drone inspection and monitoring market are:

• AeroVironment Inc
• America Robotics
• Cyberhawk Innovations
• DàJing Innovations (DJI)
• Flyability
• Intertek Group plc
• Intel Corporation
• Kespry
• Lockheed Martin Corporation
• Mistras Group plc
• Northrop Grumman Corporation

These players focus on strategic partnerships and new product launches & commercialization for market expansion. They are heavily investing in R&D to introduce innovative products and garner maximum revenue in the market.
 

Drone Inspection and Monitoring Industry News:

• In September 2022, Percepto, an Israeli manufacturer of autonomous inspection drones, completed the proof-of-concept test of its Percepto Air drone-in-a-box platform for monitoring a 250-acre floating solar farm in Thailand. Following the trial, which was carried out in collaboration with the Electric Generating Authority of Thailand (EGAT) and Top Engineering Corp., a Thai drone consultancy and equipment provider, the Percepto Autonomous Inspection and Monitoring (AIM) software and drone-in-a-box will be used for routine inspections of the facility's 145,000 solar panels to ensure proper orientation and detect anomalies before they become larger problems.
   
• In July 2022, GDU-Tech Co., Ltd. unveiled the professional S400 quadrotor drone and K01 automatic docking station at the “Leading the low altitude airspace infrastructure construction” press conference. The drone and the flight platform are designed for all unmanned application scenarios.
   

This drone inspection and monitoring market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments:

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By Solution

• Platform
• Software
• Infrastructure
• Services

By Type

• Fixed wing
• Multirotor
• Hybrid

By Mode of Operation

• Remotely piloted
• Optionally piloted
• Fully autonomous

By Application

• Construction & infrastructure
• Agriculture
• Oil & Gas
• Utilities
• Mining
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • Russia
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • ANZ
  • South Korea
  • Singapore 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • Qatar
  • Saudi Arabia
  • Israel
  • UAE
  • South Africa