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Inspection Drone for Confined Space Market is Emerging with 12.1% of CAGR by 2027 - Multinov, Performance Rotors Pte. Ltd., Scout Drone Inspection AS, Skypersonic Inc, Terra Drone Corp.
According to our latest market study on “Inspection Drone for Confined Space Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Drone Type (Quadrotor Drone and Multi Rotor Drone) and Application (Oil and Gas, Power Generation, Mining, Chemicals, Marine Vessels, and Others),”the market was valued US$ 795.12 million in 2019 and is projected to reach US$ 1,936.32 million by 2027; it is expected to grow at a CAGR of 12.1% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.
Published 27 November 2020
Inspection of confined areas is expensive, time-consuming, and sometimes involves danger to human lives; thus, the use of drones to inspect confined areas is gaining immense traction in diverse applications. Furthermore, these drones offer other benefits to users by adding extra features such as the installation of IR cameras, which provide advanced visual and data analytics capability,allowing the evaluation of actual asset status and maintenance needs. Drones are anticipated to become prominent in various inspection applications that meet the 4D criteria: Dirty, Dust, Distant, and Dull. With the rising cost pressure among industrial service companies and asset operators, inspection leveraging drones optimize time and save cost, enhance quality and performance. With these benefits, inspection drones for confined spaces help companies secure a competitive edge.
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COVID–19 Impact on Inspection Drone for Confined Space Market
The COVID-19 pandemic hasnotably disrupted supply chain activities andplummetedthe demand for inspection drones across several industries. Factors such as restrictions in import andexport of goods, and challenges in transportation owing tothe nationwide lockdown across several countries, along with temporary discontinuation of production and manufacturing activities, have collectively declined the demand for inspection drones. However, the overall drone industry is witnessing growth opportunitiesduring the coming years in applicationssuch assurveillance, monitoring, delivery, and disinfection activities. Moreover, the market is expected to gain momentum during the coming months as various governmentsare considering steps and reforms to revive the overall economic activities.
Building scaffolding to conduct manual inspection is an expensive process; also, manual inspections often fail to find the exact problem that requires fixing. By using drones for inspection, companies can reduce the actual maintenance costs by up to 80–90%. Also, drones are equipped with sensors to perform tasks other than just visual inspections. For instance, an agricultural drone for an indoor farming application is equipped with multispectral sensors, allowing farmers record crop images in distinct spectral bands. Further, the installation ofa thermal camera in drones for HVAC inspections helps identify heat leak in a building.
Strategic Insights
The players in the inspection drone for confined spacemarket focus on strategies such as market initiatives, acquisitions, and product launchesto maintain their positions in the market. A few developmentsby key players are listed below:
In 2020, MFE Enterprises, Inc. finalized an agreement to expand the US territory under which it would sell Flyability’s drones, the Elios and the Elios 2. The agreement providesan exclusive right to MFE Enterprises to sell Flyability’s collision-tolerant dronesfor inspectingand monitoringin the11US states.
In 2019, Digital Aerolus launched a new UAV Aertos 130IR for mining, infrastructure, and power plant inspections. The drone uses AI and patented autonomous technology to fly without needing GPS or external sensors.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00013620
Get Sample PDF Brochure at https://www.theinsightpartners.com/sample/TIPRE00013620
COVID–19 Impact on Inspection Drone for Confined Space Market
The COVID-19 pandemic hasnotably disrupted supply chain activities andplummetedthe demand for inspection drones across several industries. Factors such as restrictions in import andexport of goods, and challenges in transportation owing tothe nationwide lockdown across several countries, along with temporary discontinuation of production and manufacturing activities, have collectively declined the demand for inspection drones. However, the overall drone industry is witnessing growth opportunitiesduring the coming years in applicationssuch assurveillance, monitoring, delivery, and disinfection activities. Moreover, the market is expected to gain momentum during the coming months as various governmentsare considering steps and reforms to revive the overall economic activities.
Building scaffolding to conduct manual inspection is an expensive process; also, manual inspections often fail to find the exact problem that requires fixing. By using drones for inspection, companies can reduce the actual maintenance costs by up to 80–90%. Also, drones are equipped with sensors to perform tasks other than just visual inspections. For instance, an agricultural drone for an indoor farming application is equipped with multispectral sensors, allowing farmers record crop images in distinct spectral bands. Further, the installation ofa thermal camera in drones for HVAC inspections helps identify heat leak in a building.
Strategic Insights
The players in the inspection drone for confined spacemarket focus on strategies such as market initiatives, acquisitions, and product launchesto maintain their positions in the market. A few developmentsby key players are listed below:
In 2020, MFE Enterprises, Inc. finalized an agreement to expand the US territory under which it would sell Flyability’s drones, the Elios and the Elios 2. The agreement providesan exclusive right to MFE Enterprises to sell Flyability’s collision-tolerant dronesfor inspectingand monitoringin the11US states.
In 2019, Digital Aerolus launched a new UAV Aertos 130IR for mining, infrastructure, and power plant inspections. The drone uses AI and patented autonomous technology to fly without needing GPS or external sensors.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00013620
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