The global Drones in Energy Sector market size is expected to reach USD 178.36 million by 2030 and exhibit a CAGR of 18.68% in the forecast period (2022−2030), according to Skyquest latest research report. With an increasing need for safer inspection and reduced inspection costs, the need for drones has grown in the past few years. In addition, according to SkyQuest, using drones in infrastructure inspection in the energy sector can result in up to a 50% reduction in cost compared to traditional methods.
Westford, USA,, April 26, 2023 (GLOBE NEWSWIRE) -- LiDAR technology and several initiatives is helping the market to grow
The increasing trend of using drones equipped with light detection and ranging technology has added to the growth of for drone market in the energy sector. The LiDAR technology drone can generate highly detailed 3D maps of infrastructure, allowing more accurate inspection and faster identification of issues. Moreover, the use of thermal imaging cameras on drones is increasing, which can detect heat anomalies in pipelines and power lines that could indicate potential problems.
On a global scale, the U.S. Federal Aviation Administration (FAA) has launched a program called "BEYOND" (Building Enduring Networks for Drone Integration) to accelerate the integration of drones into the national airspace system. Similarly, the UK government has launched a £2m innovation competition for drones in the energy sector, to support innovation and improve efficiency in the industry.
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Fixed-wing segment dominates the global market
Fixed-wing dominated the global market owing to its longer flight time and stability in windy conditions. It also can carry heavier payloads, such as LiDAR sensors, which can provide more detailed and accurate inspections of infrastructure. In addition, fixed-wing drones equipped with artificial intelligence (AI) and machine learning algorithms can provide more accurate and efficient inspections.
In terms of application, the inspection and monitoring segment is the leading segment for its easy and less expensive inspection. The growing regulations in various countries have led to the growth of drones for this application. In the United States, the Federal Aviation Administration (FAA) has granted more than 5,000 waivers for commercial drone operations, many of which are for inspection and monitoring purposes in the energy sector.
North America to register substantial growth
Region-wise, North America is one of the largest growing markets due to the presence of leading drone manufacturers. The United States has a well-developed regulatory framework for drones that encourage the safe and widespread use of drones in the region.