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Renewable Drones Market Segmentation by Drone Type (Multirotor, and Fixed Wing); by Solution (Point, and End-to-Ends); by End User (Solar, Solar PV, Solar CSP, and Wind) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Renewable Drones Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

·    February 16, 2021- Terra Drone and INPEX Corporation joined hands to launch INPEX-Terra Drone Intelligent Drone Plan, which seeks to promote digital transformation and sustainable growth of natural gas industry in Japan and other parts of the world.

Global Renewable Drones Market Highlights 2022 – 2030

The global renewable drones market is estimated to garner a large revenue and grow at a CAGR of ~28% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing adoption of drones in order to reduce cost of inspection operation, growing emphasis on asset optimization, and rising demand for clean energy applications in drone technology. Along with these, there is a surge in usage of renewable drones in the solar energy sector, which is another factor expected to drive market growth in the near future. Furthermore, escalating establishment of renewable energy plants, mainly solar and wind farms, coupled with the rising focus on renewable energy generation, are projected to offer profitable opportunities for market growth in the upcoming years. According to the International Energy Agency, the use of renewable energy increased by 3 percent in 2020. In addition, the share of renewables in electricity generation globally rose up to 29 percent in 2020, up from 27 percent in 2019.

Global Renewable Drones Market

The market is segmented by end user into solar, solar PV, solar CSP, and wind, out of which, the solar segment is anticipated to hold the largest share in the global renewable drones market on account of the rising demand for solar farm maintenance and inspection, and growing awareness regarding flight operations and thermography among inspectors, asset owners and drone service providers. Additionally, on the basis of drone type, the multirotor segment is assessed to grab the largest share over the forecast period owing to the ability of multirotor drones to perform vertical takeoffs and landings, and requirement of less space by these devices to take flight. Moreover, based on solution, the segment for end-to-end solution is predicted to grab the most significant share by the end of 2030, which can be credited to the fact that this type of solution helps in avoiding issues associated with the use of continuously-updating drone technology.  CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Renewable Drones Market Regional Synopsis

On the basis of geographical analysis, the global renewable drones market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increase in investments for the generation of renewable energy in developing countries of the region, especially China and India, and rising number of government initiatives to promote use of clean energy. In addition, growing population and rapid rate of industrialization, are also projected to drive the region’s market growth in the coming years. As per the data provided by the World Bank, the population of South Asia grew up to 1.875 billion in 2020, up from 1.836 billion in the previous year. India is the most populated country in the region, accounting for about 1.38 billion people. Moreover, the market in North America is anticipated to gather the largest share during the forecast period ascribing to the imposition of favorable policies for use of solar energy and rise in demand for renewable drones from several end-user industries in the region.

The global renewable drones market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global renewable drones 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

Growth Drivers

  • Increasing Adoption of Drones to Reduce Cost of Inspection Operation
  • Rising Demand for Clean Energy Applications

Challenges

  • Lack of Skilled Professionals

Top Featured Companies Dominating the Market

  • 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

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