Industrial Drone Inspection Market

Industrial Drone Inspection Market Outlook (2023-2033)

The global industrial drone inspection market will reach a valuation of US$ 639.2 million in 2023 and expected to progress at a CAGR of 16.7% to reach US$ 2,994.7 million by the end of 2033.

In 2023, the global drone services market is estimated to be valued around US$ 6.6 billion, while the drone inspection service market will be valued roughly US$ 2 billion. Industrial drone inspection is one of the prominent segment in revenue generation from drone inspection services, wherein services for industrial drone inspection accounted for nearly 32% share of the global drone inspection service market at the end of 2022.

Report Attributes	Details
Market Size (2022A)	US$ 532.5 million
Estimated Market Value (2023E)	US$ 639.2 million
Forecasted Market Value (2033F)	US$ 2,994.7 million
Global Market Growth Rate (2023-2033)	16.7% CAGR
North America Market Share (2023)	~30.1%
North America Market Value (2023)	US$ 192.5 million
Europe Market Share (2023)	~35.4%
Europe Market Value (2023)	US$ 226.3 million
China Market Share (2023)	~11.8%
China Market Value (2023)	US$ 75.6 million
Market Share of Top 3 Countries	~40.4%
Key Companies Profiled	Airobotics Drones Applied Technical Services Applus Dexon Technology Drone Genuity Flyworx Force Technology Intertek Sky Futures Viper Drones

Historical Deployment Analysis of Industrial Drone Inspection (2018-2022) Vs Forecast Market Outlook (2023-2033)

Evolving industrial world to meet the consumer demands creates a need for regular inspection of the production equipment to increase the efficiency and meet the production goal without interference. That is when industrial drone inspection comes in action.

A drone or unmanned aerial vehicle (UAV) for industrial use is one that is capable of carrying customized payloads. Among the sectors that frequently use UAVs are the energy, defense, security, mapping and surveying, and law enforcement sectors.

The drones are specifically used for to ensure the proper functioning of the machine equipment and tools. Industrial UAVs frequently have better range and flight times, more advanced avionics systems and controls, and the ability to deploy a variety of payloads, such as specialized imaging technology, sensors, and custom payloads for research and surveying applications. Industrial UAVs are frequently more highly engineered than commercial drones.

Drones open up new possibilities and boost productivity in industries including oil and gas, mining, maritime ports, and other key industrial locations. They have developed into incredibly robust, versatile industrial tools that can complete a range of tasks. Hence, industry experts are using drones more and more to improve operational efficiencies and optimize industrial operations.

• Short Term (2023 (Q1) to 2026): The market for industrial drone inspection will benefit from the increase in demand for drones with greater payloads across a range of end-use sectors.
• Medium Term (2026-2029): On account of the expanding drone industry in Europe and North America, it is projected that the European countries and a few North American countries will experience strong demand.
• Long Term (2029-2033): A wide range of commercial sectors can benefit from industrial drones' nearly limitless vision, data collection, and analytical capabilities. Such features will propel the growth of industrial drone inspection market.

From 2018 to 2022, the global market for industrial drone inspection registered a CAGR of 13.3%, and according to the Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 16.7% CAGR between 2023 and 2033.

What’s Driving the Adoption for Industrial Drone Inspection around the Globe?

“Technological Advancements in Drone Technology to Encourage the Adoption of Industrial Drones Inspection”

Nowadays, drones are utilized for many different purposes, such as surveillance, military activities, agricultural, efficiency of the manufacturing equipment. Leading companies in the U.S. drone market are integrating cutting-edge technology into their drones as the features and applications of drone multiply. The need for regular monitoring has increased the demand of automated industrial drone inspection.

Additionally, businesses are now producing drones specifically for industrial use, supplementing drone engines with more power. Drones can now travel up to 100 miles per hour due to product developments in drone technology, which also helps with fast product delivery.

The development of advanced industrial drones and a variety of drone accessories is being heavily funded by large corporations, which is propelling the market's expansion in industrial drone inspection also.

What Could Be the Restraining Factor for the Industrial Drone Inspection Service Providers?

“Air traffic management issues can be proven as challenges for market growth”

Drones are widely employed in commercial, military, industrial, and civilian applications worldwide. In recent years, harsh restrictions on drone flights have been imposed on the business and its end users in various nations.

These crucial components are built to concurrently facilitate drone operations in various regions and safeguard against property and environmental damage. Small drone flights for commercial purposes are permitted in several nations, and some need pilot certificates.

Lack of air traffic control infrastructure necessary for safe flight operations in defined airspace is a problem for the drone business. Integrated air traffic management can increase drone security and reduce operational difficulties. The growth of the market is impeded by all of these problems.

Country-wise Insights

How industrial drone inspection market is skyrocketing in United States?

Some of the biggest drone players in the world are based in the United States. For American drone lovers, the member ecosystem map is more rich than ever. Drone services are in high demand, in addition to drone hardware and software. This has given rise to numerous drone service businesses and startups.

Advancing technology in the drone industry is widening its industrial applications. For instance, insurance companies in the United States have initiated using drones recently and the application is expected to expand significantly in near future.

Apart from this, FAA has released airworthiness standards for the planned certification of ten distinct drones as special class aircraft. This is a necessary step to authorizing more sophisticated drone operations, such as package delivery, beyond those covered by Part 107.

Therefore, the US industrial drone inspection market is expected to reach US$ 167.9 million by 2033 and further expand at a CAGR 13.8% over the forecast years.

Why is the China Industrial Drone Inspection Market Expected to Be Highly Lucrative?

Consumer drones worth US$ 2.9 million were produced in China. The largest drone manufacturer in the world, DJI, which is based in China, is largely responsible for this achievement. The firm controls an estimated 70% of the worldwide drone market. During the anticipated period, the industrial drone inspection market in China is anticipated to expand at a CAGR of 16%.

Early in 2020, the drone market in China reached a value of US$ 3.4 billion. This market value is sufficient justification for looking more closely at the Chinese drone ecosystem. The main drone players, a variety of drone applications, modern infrastructure, and other elements have all contributed to China's drone industry's development.

The growing drone industry and its applications in China are expected to uplift the industrial drone inspection services. Therefore, the China industrial drone inspection market is estimated to reach at a value of US$ 75.6 million by the end of 2023.

Category-wise Insights

Why is the demand in Oil & Gas Industry Expected to Surge the Market?

Delivery by drones and other drone features are frequently employed in industrial settings, particularly where there are changes from land to sea. In comparison to other manned alternatives, drones can transfer vital equipment between facilities based on land and sea vessels more quickly and affordably.

Although payload weight is limited and reliant on the type of drone, material management applications for drones and UAS are available at oil and gas plants. In the event of an industrial catastrophe, the drone offers a distinctive bird's eye view, enabling quicker response and help.

New laser-based sensors are being used by businesses to identify and detect contaminated material more quickly and affordably than in the past. Pipeline leakage inspections via drones in oil and gas industry is also gaining significant attention.

Why is Market Growth Being Led by the Rotary Drone Type?

The rotary drone type industry will be the key segment to drive the market of industrial drone inspection. The emerging technological advancements of unmanned ariel vehicles for instance better service delivery by rotary drones are enhancing its usage.

However, during the pandemic, the market has seen downfall as the manufacturing and production was stopped. Now the rotary drone product type is expected to reach the market value of US$ 343.3 million by the end of 2023.

Competitive Landscape

Prominent industrial drone inspection service provider is Intertek, Drone Genuity, Viper Drones, Dexon Technology, Applus, Flyworx, Force Technology, Applied Technical Services, Sky Futures, Airobotics Drones and the other players.

There are numerous large and small market players in the industrial inspection drone market, with clear differentiation. In order to achieve the market growth, the service providers are providing industrial drones at economic prices. Moreover, the service market is constantly improving their service market to give optimum satisfaction to the end users,

Fact.MR has provided detailed information about the service offered of industrial drone inspection positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Industrial Drone Inspection Industry Research

• By Product Type :

  • Fixed Wing
  • Rotary Wing
  • Hybrid

• By End Use Industry :

  • Manufacturing
  • Delivery & Logistics
  • Construction & Mining
  • Oil & Gas
  • Automation & Robotics
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa