Global Utility Drones Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Utility Drones Market 2021 (Includes Business Impact of COVID-19)
Global Utility Drones Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights, which offers in-depth insights, revenue details, and other vital information regarding the global utility drones market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global utility drones market report has been segmented on the basis of type, service, application, and region.
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The global Utility Drones market size was valued at USD $156.97 million in 2020 and is projected to reach $3645.97 million by 2030, and is anticipated to expand at a CAGR of 36.77% over the forecast period from 2020 to 2030.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Overview:

Utility drones are unmanned aerial vehicles used in utility industry to maintain and inspect transmission, and distribution of electric power. Drones are effective device to assist in various operations. Drones are also able to detect threats and damages in energy grid caused by dangerous obstacles and natural disasters such as earthquakes, storms, etc. It is also used to gather data and capture images with the use of light detector and ranging (LiDAR) technology, positioning sensor, other sensors and cameras Market.

Dynamics:

Utility companies spend high amount of money in building energy distribution infrastructure. Disturbance in electrical power supply can cause huge damages to the industries depended upon electrical supply. Growing need to minimize power outages is a major factor driving growth of the global utility drones market. Drones attached with cameras and sensors help to provide information, images and video feed in real time.

Use of drones for surveillance and inspection is another major factor fueling growth of the global utility drones market. Drones make it possible to monitor complex structures and inspect facilities such as oil and gas refineries, flare stacks, pipelines that are physically hostile and hazardous to environment and for individuals. Increasing use of drones in hazardous environment is a factor expected to boost growth of the global utility drones market in the near future.

However, stringent regulations on use of utility drones in long distance, and beyond visual line-of-sight by Federal Aviation Administration is a factor that may hamper growth of the global utility drones market. Nevertheless, introduction of cost-effective and technologically advanced drones can create high revenue opportunities for major players operating in the global utility drones market.

Segment Analysis:

On the basis of type, the multi-rotor segment is expected to dominate in the global utility drones market in terms of revenue, and is anticipated to register highest CAGR in the near future. Utility drones provide accuracy and functionality in low cost, which is one of the major factors driving growth of the segment in the target market.

Regional Analysis:

Market in North America is estimated to account for major share in terms of revenue in the global market, and is expected to maintain its position over the forecast period. Increasing use of renewable energy resources is among some of the major factors expected to drive growth of the target market in this region. Government regulations regarding usage of utility robots is a factor that could affect growth of the target market in North America region. Asia Pacific market in anticipated to register high growth in terms of revenue in the near future, followed by markets in Europe, Middle East & Africa, Latin America. Growing adoption of advanced technologies, coupled with growing power generation plants is a factor expected to fuel growth of the utility drones market in Asia Pacific.

Global Utility Drones Market Segmentation:

Segmentation by type:

  
Fixed Wing
  
Multi-Rotor

Segmentation by service:

  
Point Solution
  
End-To-End Solution

Segmentation by end-user:

  
Renewable
  
Wind
  
Solar
  
Power
  
Transmission & Distribution
  
Generation


Key Market Players included in the report:


  
ABJ Drones (US)
  
Aerodyne Group (Malaysia)
  
Asset Drone (US)
  
Cyberhawk Innovations Limited Delair SAS
  
Delair (France)
  
DJI (China).
  
HEMAV (Spain)
  
Measure (US).
  
PrecisionHawk Inc.
  
Sharper Shape Ltd.
  
SkyScape Industries (US)
  
SZ DJI Technology Co Ltd
  
Terra Drone Corp.
  
ULC Robotics (US)
  
YUNEEC (US)


Below are the key development related to Utility Drones Market in 2020 and 2021.


June 2021: Heiq Acquires Life, Hong Kong, Extending Its Penetration Into The Bio-Based Antimicrobial Market. The acquisition is made in line with HeiQ’s strategy to increase its presence in the bio-based antimicrobial and healthcare surface hygiene market, and to further diversify and innovate its product range and capabilities with a view to becoming a global leader in materials innovation. LIFE is a materials technology company that has developed a strong portfolio of smart ingredients and formulations with applications in numerous industries. This includes the development and distribution of bio-based antimicrobial additives and treatments used by manufacturers of plastics, coatings, textiles, ceramics and paper, that inhibit or manage bacteria, fungi, algae, and other micro-organisms that come in contact with treated materials. LIFE has the broadest technology platform in the industry, using inorganic, organic and bio-based botanical active substances. LIFE’s 40+ products strengthen HeiQ’s global product offering and will facilitate HeiQ’s existing technology platforms into new markets, especially masterbatches, plastics and coatings. Leading manufacturers and brands, such as DuPont, American Standard, Igloo Products, Marks & Spencer, John Lewis, and Columbia Sportswear use LIFE’s antimicrobial additives. Source

February 2021: PMC Group International Announces Acquisition of Copperhead Chemical Company. PMC Group International, Inc., which is an independent arm of PMC Group Companies, announced the acquisition of Cobra Investments Management Inc. and its two subsidiaries, Copperhead Chemical Company Inc. (“Copperhead”) and Copperhead Investments Inc., from a group of previous owners of these entities, effective February 5, 2021. Copperhead is the manufacturing arm of the three acquired entities and is located on an 875 acres facility with 53 buildings in Tamaqua, Pennsylvania. Copperhead has been the sole manufacturer of the FDA approved cardiac therapeutic drug nitroglycerin in the US for over 70 years and a custom manufacturer of drug dosage forms. It is also a major producer of energetic chemicals (explosives and propellants) for the defense industry as well as a novel class of preservatives and antimicrobials. Copperhead’s products are sold globally. Source

January 2021: Polygiene acquires antibacterial additive specialist. Addmaster supplies performance-enhancing additives for the plastic, paper, textiles, paints and coatings industry. UK antibacterial additive supplier, Addmaster, has been sold to Polygiene for $44.5m, with the support of Midlands-based Shakespeare Martineau and Bracebridge Corporate Finance. The acquisition aims to bring together Addmaster’s antimicrobial technologies on hard surfaces with Polygiene’s odour control and antiviral solutions for textiles. Addmaster’s Biomaster technology has reportedly been found to be effective on both porous and non-porous substrates against SARS-CoV-2. The company claims Biomaster can give up to 99% protection four hours after it has been added to products, preventing any bacteria or virus growing on everyday items. Source