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Pulished Date April, 2021
ID: 10392
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Global Renewable Drones Market Segmentation by Drone Type (Multirotor and Fixed Wing), Solution (End-to-End Solution and Point Solution), End-user (Solar and Wind) and Region - Industry Forecast to 2026

Pulished: April, 2021
ID: 10392
Pages: 175

Renewable Drones Market size, share, growth Analysis:

The global renewable drones market is expected to grow to a size of USD 148 million by 2026, with a CAGR of 27.1%, from around USD 45 million in 2021. Renewable drones are used in aerial surveying and surveying. Drone technology is used in the wind and solar industries. They can contribute to a greener future because they can generate electricity on their own. Revolving drone inspection helps eliminate the need for inspection staff to work at height. It also reduces maintenance time, while determining whether a repair should be done immediately or can be safely delayed.Growing adoption of drones to reduce inspections, increased focus on asset optimization are driving the renewable drone market globally. Technology development software for drone data analysis and rapid development of renewable plants are creating market growth opportunities.

Renewable Drones Market Recent Developments in Industry:

In January 2021, Alphabet announced that it was completing work on Makani, a project that attempted to generate power using wind turbines connected to kites.

In April 2019, DroneBase declared that FLIR Systems, Inc. had made a strategic investment in the business, which will help it expand its thermal imaging services. FLIR would be the exclusive supplier of thermal imaging equipment for DroneBase

Renewable Drones Market Drivers:

Solar farms are usually very large installations, so a drone equipped with an appropriate thermal camera can scan the entire farm for faults faster than with a portable thermal camera on the ground. In the case of wind turbines, inspections are done manually by scaling or using long range photography. Manual inspections that involve escalation present dangers that can be avoided with drone inspections. Collecting data in the field can be time consuming and lacks the detail and flexibility that a drone can offer. A drone can perform an inspection of a wind turbine (3 blades) in 40 minutes. Therefore, drone inspections are faster, more accurate, and cheaper solutions for wind and solar farm inspections. The renewable energy sector is among the most dynamic in the world. Renewable power plants are developing at a rapid pace with advanced technologies, with the growing demand for clean and sustainable energy, countries are shifting their focus from conventional energy sources to increasing production from renewable energy sources. Wind power has grown at a CAGR of over 21% since 2000. Additionally, onshore wind installations are expected to reach 5,044 GW by 2050. This will create demand for wind turbines for new installations, as well as replacement ancient turbines. The development of wind power plants is capital intensive, and asset owners seek to maximize profitability and minimize expenses. This is where drones come into the picture. Drones will help reduce wind turbine inspection expenses by at least 40% and can provide data in 2-3 days, compared to 2-3 weeks for traditional inspection methods.

Renewable Drones Market Restraints:

Drones are extremely important for utility companies to conduct inspection operations. However, legal requirements have limited progress in the drone market. The Federal Aviation Authority (FAA) is the regulator for drone operations. These regulations, in particular, exclude drone operations in certain circumstances, such as behind line of sight (BVLOS), long distance or at night. A trained drone pilot is essential to remotely control and operate commercial drones in various weather conditions and terrain. Many accidents occur due to poor control in mid-flight.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

27.1%

Segments Covered

By Product, Type, By Applicatopn and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

DJI Enterprise (China), Terra Drone (Japan), Aerodyne Measure (US), and DroneDeploy (US), Parrot Group (France), ABJ Drones (US), DRONE VOLT Group (France), Airpix (India), Sitemark (Belgium), Skylark Drones (India), PrecisionXYZ (US), Flyability (Switzerland), FORCE Technology (Denmark), Droneflight (UK)

 

Renewable Drones Market

 

Renewable Drones Market Segmentation:

Based on type, the global renewable drones market is bifurcated into fixed-wing and multirotor. Of these, the multirotor segment was the biggest contributor to the renewable drone market in 2019. Multirotor drones they have several advantages over fixed-wing drones; for example, multirotor aircraft can perform vertical take-offs and landings. They also require less space to take off, can float in mid-flight, and manoeuvre around objects for easier inspection, mapping and modelling.

Based on the solution, the market covers end-to-end solution and point-to-point solution. Among these, end-to-end solutions segment is expected to dominate the renewable drones market from 2021 to 2026. End-to-end solution means that the supplier of services offers the drones and accessories, data analysis and reporting to the customer so that no other supplier is involved in fulfilling requests.

According to the end-user, the solar segment is expected to grow at a faster rate from 2019 to 2026. To meet the rising call for inspection and maintenance of solar farms, asset owners, inspectors and drone service providers need to develop an in-depth knowledge of thermography and aerial operations to fully benefit from the benefits of solar inspection by drone.

Renewable Drones Market Regional Analysis:

On the basis of region, the global renewable drones market can be segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa. Asia-Pacific is expected to be the key region in the global market between 2021 and 2030. Significant investments in renewable energy production, especially in developing countries such as China and India, and Government subsidies to modernize the sector are expected to drive renewable energy into the region's market between 2021 and 2030. The European Union (EU) has taken the lead in deploying renewable energy, with a target of 20% energy renewable in its total energy consumption by 2021.

The renewable drone market in the Middle East and Africa is likely to grow at a significant rate during the outlook period, owing to the vast agricultural land and attempts to reduce fossil fuel consumption. Government initiatives on clean and pollution-free energy are also expected to boost the renewable drone market in the region during the forecast period.

On the other hand, the size of the renewable drones market in the United States is expected to double by the end of the envisioned period. Renewable energy projects in the United States are expected to benefit from multi-year federal tax incentives and several state-wide favourable policies for solar energy in the coming years.

Renewable Drones Market Key Players:

The few major players operating in the global renewable drones market are:

  • DJI Enterprise
  • Terra Drone
  • Cyberhawk Innovations Limited
  • Precision Hawk
  • ULC Robotics
  • Sharper Shape Inc.
  • Sky Futures
  • Asset Drone
  • YUNEEC

Impact of Covid-19 on Renewable Drones market:

The COVID-19 outbreak has had negative effects on the entire energy sector. According to the IEA, the coronavirus crisis has had a significant impact on the growth of renewable energy capacity. Net renewable capacity additions in 2021 are expected to drop 13% from 2019. This drop is mainly due to delayed construction activities and supply chain disruptions, with major countries imposing lockdowns, social distancing measures for workers and financial challenges. In 2021, renewable energy capacity is expected to increase with the resumption of delayed projects. Supportive government policies aimed at increasing renewable energy capacity are likely to help improve economic conditions.

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Renewable Drones Market, By Type              

                             6.1.1 Multirotor             

                             6.1.2 Fixed Wing            

                             6.1.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.4 Y-o-Y Growth Rate Analysis            

                             6.1.5 Market Attractiveness Index          

              6.2 Renewable Drones Market, By Solution                      

                             6.2.1 End-to-End Solution          

                             6.2.2 Point Solution       

                             6.2.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.2.4 Y-o-Y Growth Rate Analysis            

                             6.2.5 Market Attractiveness Index          

              6.3 Renewable Drones Market, By End-user                     

                             6.3.1 Solar         

                             6.3.2 Wind        

                             6.3.3 Market Size Estimations & Forecasts (2019-2024) 

                             6.3.4 Y-o-Y Growth Rate Analysis            

                             6.3.5 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Type    

                             7.2.3 By Solution            

                             7.2.4 By End-user          

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Type    

                             7.3.3 By Solution            

                             7.3.4 By End-user          

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Type    

                             7.4.3 By Solution            

                             7.4.4 By End-user          

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Type    

                             7.5.3 By Solution            

                             7.5.4 By End-user          

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Type    

                             7.6.3 By Solution            

                             7.6.4 By End-user          

8. Key Player Analysis                                

              8.1 DJI Enterprise                         

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Terra Drone                            

              8.3 Cyberhawk Innovations Limited                     

              8.4 Precision Hawk                      

              8.5 ULC Robotics                          

              8.6 Sharper Shape Inc.                

              8.7 Sky Futures               

              8.8 Asset Drone                            

              8.9 YUNEEC                     

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Renewable Drones Market By Region, From 2021-2026 ( USD Billion )
  2. Global Renewable Drones Market By Type, From 2021-2026 ( USD Billion )
  3. Global Multirotor Market By Region, From 2021-2026 ( USD Billion )
  4. Global Fixed Wing Market By Region, From 2021-2026 ( USD Billion )
  5. Global Renewable Drones Market By Solution, From 2021-2026 ( USD Billion )
  6. Global End-to-End Solution Market By Region, From 2021-2026 ( USD Billion )
  7. Global Point Solution Market By Region, From 2021-2026 ( USD Billion )
  8. Global Renewable Drones Market By End-User, From 2021-2026 ( USD Billion )
  9. Global Solar Market By Region, From 2021-2026 ( USD Billion )
  10. Global Wind Market By Region, From 2021-2026 ( USD Billion )

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