Global Drones For Energy Industry Market, By Drone type (Fixed Wing Drone, Rotary Blade Drone and Hybrid Drone), By Industry Type (Oil & Gas, Power and Renewable), By Application (Inspection, Leak and Spillage Response and Security and Surveillance) and Region - Forecast 2017-2023.

Market Synopsis of Drones for Energy Industry Market:

Drones for energy are poised to grow at a substantial rate as the industry is investing in the services provided by an unmanned aerial vehicle, for line-of-sight applications, to observe ocean-going ships, to inspect offshore platforms and refineries, to inspect or monitor power lines, wind turbine, solar panel.

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The global drones for energy industry market has been segmented based on drone type, industry type, application, and region. On the basis of drone type, fixed wing drone accounted for the largest market share of 49.7% in 2016, and is projected to grow at a CAGR of 25.08% during the forecast period. Based on industry type, oil & gas accounted for the largest market share of 67.2%, in 2016, and is projected to grow at a CAGR of 25.03% during the forecast period.

The global drones for energy industry market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of the drones for energy industry market is majorly influenced by the complexity in inspection & monitoring of remote and discrete systems. However, the federal regulations limiting the usage of drones and lack of technological advancements for processing the raw data are hindering the growth of the drones for energy industry market. The market is expected to reach market size of 8,390.5 million by the end of forecast period with CAGR 25.53% between 2017 and 2023.

Regional Analysis:

Geographically, Asia-Pacific is the largest power producer globally, and is the largest market for renewable energy generation across the globe. The drones for energy industry market is emerging in countries such as China, India, and Japan, and is estimated to grow at a high rate in the forecast period. North America is expected to show a high rate of growth in drones for energy industry market over the coming years, owing to increase in adoption of drones for inspection, leak and spillage detection, and surveillance activities, majorly in oil & gas and power sectors. Factors such as increase in inspection, maintenance and surveillance operations of oil & gas platforms, power plants, pipelines, solar plants, and wind turbines in the region driving the market towards growth.

Key Players:

The major players operating in the market of global drones for energy industry are AeroVironment, Inc. (US), DJI (China), Aeryon Labs Plc. (UK), Aibotix GmbH Limited (UK), Ascending Technologies Inc. (Canada), UAVision. (Canada), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), and Microdrones (Germany) among others.

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