Global Drone Inspection and Monitoring Market Report and Forecast 2024-2032

Global Drone Inspection and Monitoring Market Outlook

The global drone inspection and monitoring market size reached a value of approximately USD 12.94 billion in 2023. The market is expected to grow at a CAGR of 15.50% between 2024 and 2032, reaching a value of USD 47.21 billion by 2032.

Key Trends in the Market

Drone inspection and monitoring is a process of collecting visual data of a situation for inspection and monitoring purposes through the use of drones. This prevents the need for personnel to visit hazardous or difficult to reach sites such as chemical spills or dangerous mining sites. They are used in various applications including construction and infrastructure monitoring, utilities monitoring, and oil and gas monitoring, among others.

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• The drone inspection and monitoring market demand is rising owing to the benefits offered by the drones such as accuracy, cost-effectiveness, and more efficiency in inspections and monitoring which enhances operational efficiency.

• Technological advancements in drones such as increased range, development of surveillance systems, usage of advanced navigation systems, and increased data storage, among others, are further increasing their use in inspection and monitoring applications.

• The rising focus on the safety of personnel and saving money is further fuelling the demand for drone inspection and monitoring as it prevents the need for workers to visit dangerous or hazardous environments in-person.

Global Drone Inspection and Monitoring Market Analysis

Based on solution, the market is segmented into platform, software, infrastructure, and service. On the basis of type, the market is divided into fixed wing, multirotor, and hybrid. By operation mode, the drone inspection and monitoring market segmentation is remotely piloted, optionally piloted, and fully autonomous. On the basis of application, the market is categorised into construction and infrastructure, oil and gas, mining, agriculture, and utilities, among others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global drone inspection and monitoring market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• AeroVironment, Inc.

• Dronegenuity

• ECA Group

• Guangzhou EHang Intelligent Technology Co. Ltd

• ideaForge Technology Limited

• 3D Robotics

• The Lockheed Martin Corporation

• Parrot S.A.

• Skydio

• YUNEEC Europe GmbH

• Others

Global Drone Inspection and Monitoring Market Share by Application

Construction and infrastructure applications of drone inspection and monitoring are anticipated to observe a rapid growth in the market. This can be attributed to increasing application of drones in the sector for tracking the progress of construction projects, streamlining communication, and making quick decisions, among other uses. The ability of drone inspection and monitoring to keep site workers out of dangerous and hazardous areas is further increasing its demand from the construction sector, bolstering the drone inspection and monitoring market growth.

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Global Drone Inspection and Monitoring Market Share by Region

At a regional level, the Asia Pacific is expected to witness significant growth in the market for drone inspection and monitoring over the forecast period. The increasing demand for border security in countries such as India, China, Japan, and South Korea are heightening the demand for drone inspection and monitoring. Large production and consumption of drones from China has further enhanced the growth of the market in the region.

Competitive Landscape

AeroVironment, Inc. was founded in 1971 and is headquartered in California, United States. This vehicle manufacturing company is known for designing and manufacturing unmanned aerial vehicles for consumers globally.

Dronegenuity is an information services company that was founded in 2016. The company is headquartered in Massachusetts, United States, and is widely known for providing drone training and commercial aerial photography services, among others.

ECA Group was established in 1936 and has its headquarters located in Lumière, France. An aerospace and defence company, the ECA Group develops and markets simulators, engineering services, and industrial equipment for end-users such as aerospace.

Other market players include Guangzhou EHang Intelligent Technology Co. Ltd, ideaForge Technology Limited, 3D Robotics, The Lockheed Martin Corporation, Parrot S.A., Skydio, and YUNEEC Europe GmbH, among others.

Key Highlights of the Report