Renewable Drones Market Size & Share, by Drone Type (Multirotor, Fixed Wing); Solution (Point, End-to-Ends); End-user (Solar, Solar PV, Solar CSP, Wind) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3442
  • Published Date: Apr 01, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Renewable Drones Market size is estimated to cross USD 161 million by the end of 2035, growing at a CAGR of 23% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of renewable drones was over USD 47 million. The growth of the market can be attributed to the increasing investments in drone technology. For instance, a growth of three times in investments over three years makes the Indian drone industry flies high in 2023. With investments totaling USD 51 million, drone investments are expected to grow. Investing in drone technology allows companies to access hard to reach areas for renewable energy sources such as wind and solar. It also allows for cost-effective surveying and maintenance of renewable energy sites, as well as providing an efficient way to deploy renewable energy infrastructure.

In addition to these, factors that are believed to fuel the market growth of renewable drones include increasing awareness about the need for renewable energy sources, government support for clean energy sources, and technological advancements in the field of renewable energy. For instance, it is demonstrated that drone inspection and robotics-based automatic operations and maintenance (O&M) improve safety and productivity by handling dangerous repetitive work. Renewable energy sources, such as solar, wind, and geothermal, are becoming increasingly reliable and cost-effective. This allows for emerging drone technologies, such as solar-powered drones, to be used in a variety of applications.


Renewable Drones Market
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Renewable Drones Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Installation Of Wind And Solar Farms - As more renewable energy sources are installed, the need for efficient and reliable methods of monitoring these sources grows. This has created a demand for renewable drones, which can provide detailed information on the performance of renewable energy sources. As per the IEA, in 2021, there will be an estimated 830 GW of wind capacity installed worldwide, of which 93% will come from onshore systems, while the remaining 7% will come from offshore wind farms.
  • Rising number of government initiatives to promote use of clean energy - A fact sheet released by the White House points out that the Biden-Harris Administration is taking major steps forward on wind, solar, transmission, and other clean energy projects in order to generate high-quality jobs and provide affordable, carbon-free electricity to all Americans.
  • Increasing Deployment of Solar Plants - According to data from the end of 2021, India ranked 4th in the global deployment of solar PV. As of 30th November, 2022, there were 61.80 GW of solar power installed in the country. Solar energy is a clean and renewable source of energy, and solar plants have become increasingly common as technology advances. Solar-powered drones are increasingly in demand as more solar plants are installed, as they are more efficient at monitoring and inspecting solar plants.
  • Increasing Use of Drones for Inspection Operations to Reduce Costs- Drones can inspect hard-to-reach areas with greater accuracy and safety than traditional methods, and they can do it faster and more cost-effectively. This makes them an attractive option for renewable energy operations, such as solar panel and wind turbine inspections. It is noted that drones collect data more than three times faster than traditional methods. On average, a drone can inspect one blade of a wind turbine in ten to eleven minutes, and three blades in approximately 40 minutes.
  • Growing population and rapid industrialization rate - According to World Bank data, South Asia's population grew from 1.836 billion in the previous year to 1.875 billion in 2020. Approximately 1.38 billion people live in India, the most populous country in the region. As the population grows and more resources are needed to power industry, renewable sources of energy such as solar, wind, and geothermal are becoming increasingly important. The use of drones to monitor and maintain these sources of energy is becoming more popular and is driving the growth of the renewable drones market.

Challenges

  • Lack of expertise and knowledge regarding their design, operation, and maintenance- Many people are not familiar with the technology and do not have the skills or resources to be able to use renewable drones effectively. This lack of knowledge and expertise makes it difficult for the market to expand, as people are not sure how to use the technology or how to maintain and operate it.
  • High cost of renewable drones
  • Stringent governmental regulations and the lack of public acceptance in some regions

Renewable Drones Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~23%

Base Year Market Size (2022)

~ USD 47 Million

Forecast Year Market Size (2035)

~ USD 161 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Renewable Drones Segmentation

Drone Type (Multirotor, Fixed Wing)

The global renewable drones market is segmented and analyzed for demand and supply by drone type into multirotor and fixed wing Out of these, the multirotor segment is estimated to gain the largest market share of about ~71% in the year 2035. This growth can be attributed to the advantages of multirotor drones such as their ability to stay airborne for longer durations, which makes them ideal for use in long-term surveillance and monitoring operations. Additionally, increasing adoption of multirotor drones owing to their compact size, low noise levels, and low carbon emissions renders them a more attractive various operation, further driving their demand. For instance, Indian Coast Guard received 10 multicopter drones by 2022 to boost maritime interdiction and surveillance. Moreover, the cost of multirotor drones has dropped drastically over the years due to advances in technology, making them more accessible and cost-effective. This has also been a major factor driving their increased adoption in various industries.

End-user (Solar, Solar PV, Solar CSP, Wind)

The global renewable drones market is segmented and analyzed for demand and supply by end user into solar, solar PV, solar CSP and Wind. Out of these, the solar segment is estimated to gain the significant market share of about ~43% in the year 2035. The growth of the segment can be attributed to the increasing demand for renewable energy sources, government initiatives and subsidies to promote the adoption of solar energy, and the declining cost of solar power generation. Renewable drones are used for monitoring solar panels, detecting and repairing problems, and providing real-time data on the performance of the solar panels. This can help to reduce maintenance costs and increase energy efficiency, resulting in greater use of solar energy. A 1.9% annual improvement rate has been achieved over the past few years in the global primary energy intensity (energy efficiency) from 5.6 megajoules per US dollar in 2010 to 4.7 megajoules per US dollar in 2019. Additionally, the increasing need for energy security and the advancement of technology is also driving the growth of the solar segment.

Our in-depth analysis of the global market includes the following segments:

      By Drone Type

  • Multirotor
  • Fixed Wing

      By Solution

  • Point
  • End-to-End

      By End User

  • Solar
  • Solar PV
  • Solar CSP
  • Wind

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Renewable Drones Industry - Regional Synopsis

APAC Market Statistics

The market share of renewable drones in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~33% by the end of 2035. The growth of the market can be attributed majorly to the growing awareness about the benefits of drone technology in the region and the increasing investment in the region from governments in order to reduce the dependency on fossil fuels and promote alternative energy sources. Moreover, the governments of various countries in the region have been actively pushing for the adoption of renewable energy sources and have put in place policies to promote renewable energy sources growth. The growth rate of renewable energy additions in India was observed to be 9% in 2022. There has been a 25-fold increase in solar energy capacity over the last nine years and there are now 64GW of solar energy installed in the country. Drones are used to inspect solar panels and wind turbines, detect issues, and track the performance of renewable energy sources. They can also be used to map out potential sites for new renewable energy sources, as well as monitor their performance.

North American Market Forecast

The North America renewable drones market is estimated to be the second largest, registering a share of about ~26% by the end of 2035. The growth of the market is attributable to the increasing demand for renewable energy sources, as well as the technological advancements that have made drones capable of performing complex tasks such as surveying, mapping, and monitoring. Additionally, the imposition of favorable policies for the use of solar energy and the rise in demand for renewable drones from several end-user industries in the region is projected to drive the market in the North America region. For instance, in August 2022, the United States government passed the Inflation Reduction Act, a bill that significantly expanded renewable energy support over the next 10 years. Moreover, a growing need for cost-effective and efficient data collection solutions in the energy sector presents lucrative opportunities for the use of drones in region.

Europe Market Forecast

Further, the renewable drones market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing demand for renewable energy sources in the region owing to its supportive government policies and initiatives towards transitioning from traditional sources of energy to renewable sources. Additionally, the growing investments in the renewable energy sector and the availability of advanced technology for drone operations are some of the other factors driving the growth of the renewable drones market in the Europe. The advanced technology for drone operations such as autopilot systems, obstacle avoidance systems, improved sensors, and software for tracking and mapping are enabling businesses to use drones for a variety of applications such as monitoring and surveillance, asset tracking, and aerial photography. As a result, the demand for renewable drones in the Europe market is increasing.

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Renewable Drones Market Size
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Companies Dominating the Renewable Drones Landscape

top-features-companies
    • Terra Drone Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Aerodyne Systems Sdn. Bhd.
    • DroneDeploy, Inc.
    • SZ DJI Technology Co., Ltd.
    • DRONE VOLT Group
    • Parrot Group
    • Nano Net Technologies Inc.
    • SkySpecs, Inc.
    • FORCE Technology Sweden AB
    • Cyberhawk Inc

In-the-news

In The News

  • Terra Drone launched Terra Drone Technology Malaysia Sen Bh (TDMY) in Kuala Lumpur, Malaysia, seeking to provide drone survey, inspection, and industrial services to a variety of industries. The company aims to leverage Malaysia's existing industrial capabilities and infrastructure, as well as its strong government support for the industry, to become one of the leading providers of drone based solutions in the Asia Pacific region.

  • With the acquisition of Measure, Aerodyne Group created Aerodyne Measure to handle inspections and analysis using drones in North America. This acquisition was part of Aerodyne's strategy to expand its services in the commercial drone industry, helping customers to save time and money through automated drone inspections and data analysis.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 3442
  • Published Date: Apr 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing demand for efficient energy sources and the growing focus on reducing carbon emissions are the major factors driving the market growth.

The market size of renewable drones is anticipated to attain a CAGR of ~23% over the forecast period, i.e., 2023-2035.

High cost of renewable drones and the lack of expertise and knowledge regarding their design, operation, and maintenance are some of the factors that are expected to impede the growth of market.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Terra Drone Corporation, Aerodyne Systems Sdn. Bhd., DroneDeploy, Inc., SZ DJI Technology Co., Ltd., DRONE VOLT Group, Parrot Group, Nano Net Technologies Inc., SkySpecs, Inc., FORCE Technology Sweden AB, Cyberhawk Inc

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by drone type, solution, end user and by region.

The multirotor segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Renewable Drones Market Report Scope
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