The Industrial Drone Inspection Market Is Poised For Growth, Supported By The Expanding Utilization Of Drones In Diverse Industrial Sectors.

ROCKVILLE, MARYLAND, UNITED STATES, October 17, 2023 /EINPresswire.com/ -- The United States stands as the hub for some of the world's largest players in the drone industry, fostering a densely populated ecosystem that sparks excitement among American drone enthusiasts. This flourishing environment extends beyond drone hardware and software, with a surging demand for drone services giving rise to numerous drone companies and startups.

The industrial drone market is poised for substantial growth, with an estimated valuation of $4,474.8 million in 2023, set to surge to an impressive $24,226.5 million by 2033. This growth trajectory is marked by a robust compound annual growth rate (CAGR) of approximately 18.4% from 2023 to 2033. In 2023, the global drone market anticipates around 7.6 million unit shipments, with the drone market projected to expand at a CAGR of 15.3%. In terms of volume, the industrial drone segment is anticipated to exhibit a growth rate of 16.7%, with sales of industrial drones comprising nearly 13% of the global drone market by the end of 2022.

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Key Takeaways from Market Study:

- The global industrial drone inspection market is projected to reach the valuation US$ 2,994.7 million by 2033.

- The market witnessed 13.3% CAGR between 2018 and 2022.

- Under the product type segment, rotary wing will dominate the market with 53.7% market share in 2023.

-Based on end use segment, delivery & logistics is expected to reach the market share of 28.4% in 2023 and reach valuation of US$ 181.5 million.

-Based on region, demand for industrial drone inspection is expected to increase in North America & Europe with an impressive CAGR of 30.1% and 35.4%,
respectively during the forecast period.

“In construction & mining sector industrial drone inspection is expected to increase due to need for regular inspection of equipment” says a Fact.MR analyst.

Competitive Landscape:

- The global market for industrial drones is segmented, which includes both major players as well as new entrants. Therefore, players must try to distinguish their products using cutting-edge technology and unique items in order to prosper in such a competitive climate.

- In order to maintain market positions in this highly competitive environment, product prices can be made user-friendly, which could have a slight negative impact on the revenue generation of manufacturers but will provide better sales of the product.

- DJI, in 2021 declared that it will launch a new product in the range of M300 which will be M30. The DJI M30 will be an industrial drone with foldable structure.

- Fact.MR has provided detailed information about the price points of key manufacturers of industrial drone positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Companies Profiled:

-AeroVironment, Inc
-AgEagle Aerial Systems
-AguaDrone
-Airbus S.A.S
-Asteria Aerospace
-Atlas Aerospace
-ATMOS UAV
-BAE Systems
-Delair SAS
-DJI
-Draganfly Innovations
-EHANG
-Elbit Systems Ltd
-Embention
-FLIR
-Flyability
-Wingcopter
-Yuneec

Factors Fueling Demand:

Advancements in Drone Technology Propel Sales of Industrial Drones:

Drones now serve a diverse range of applications, from surveillance and military operations to agriculture, videography, and cinematic productions. As the utility of drones expands across various sectors, key players in the U.S. drone market are integrating cutting-edge technology into their drone systems. Notable improvements include increased payload capacity and the development of specialized drones for specific tasks.

Furthermore, companies are manufacturing drones tailored for industrial applications, emphasizing high-powered drone engines. Technological progress in drone engineering enables these aerial devices to achieve speeds of up to 100 miles per hour, making them efficient for cargo transportation.

Significant investments in research and development by major companies are driving the growth of advanced industrial drones and associated accessories, propelling market expansion. Projections indicate that the market's value in 2033 is estimated to be 5.4 times that of 2023.

The Expanding Agriculture Sector Fuels Industrial Drone Adoption:

Rising temperatures have led to an increase in insect breeding, thereby impacting the yields of crops like maize, rice, and corn. This phenomenon is a primary driver behind the growth of industrial drones within the agriculture industry. Farmers are increasingly turning to drones as a means to reduce labor-intensive tasks, such as crop monitoring and seeding, due to the scarcity of skilled workers in the field.

The need for drone technology in agriculture becomes evident, particularly when cultivating extensive agricultural lands. Moreover, continuous long-range monitoring of fields with the aid of features like thermal imaging cameras, customizable controls, advanced propulsion systems, GPS, and automated flight plans further enhances the adoption of industrial drones in agriculture. The industrial drone market is positioned to offer a substantial growth opportunity, estimated at US$20,575.1 million during the forecast period.

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Check out more related studies published by Fact.MR Research:

Drone as a Service Market: The global drone as a service market is expected to reach a valuation of US$ 6.6 billion in 2023. The market is further expected to grow at a CAGR of 14.3% over the next 10 years and attain a market value of US$ 25.2 billion by the end of 2033.

Drone Batteries Market: The global drone batteries market is set to enjoy a valuation of US$ 6.3 billion in 2022 and further expand at a CAGR of 8.3% to reach US$ 14.1 billion by the end of 2032.

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