Renewable Drones Market Insights, Trends, Opportunity & Forecast (Includes Business Impact of COVID-19)

Drones are also known as Unmanned Aerial Vehicles (UAVs).  These are widely used in wind and solar industries and can help support a greener future, as they have the capacity to generate electricity by themselves.

Renewable drones are at present used in aerial inspection and survey and are transforming inspections at various locations around the world. Inspection with renewable drones helps eliminate the need for inspection personnel to work at heights. It also lessens maintenance time, while identifying if a repair needs to take place immediately, or if it can be safely delayed.

Also these are used for line-of-sight applications, to detect ocean-going ships, to inspect offshore platforms and refineries, monitor power lines, and solar panels.

The global renewable drones market is expected to grow at a healthy CAGR in the upcoming years.

MARKET DRIVERS:

The growth of this market is attributed towards major pertaining factors including; the increasing adoption of drones for reducing cost of inspection operation, the worldwide  growing focus on asset optimization, the increasing construction of solar and wind farms, rise in concerns about the environment and the global increase in usage of clean energy substitutes etc.

Moreover, renewable drones are immensely cheaper than a manned crew. This enables wind farms to carry out wind turbine drone inspections with greater consistency to keep operations running at smoothly over time. This is anticipated to propel the demand for renewable drones soon or later.

Furthermore, factors such as technological developments in software for drone data analytics, rapid development of renewable plants, ambitious national targets, increasing technological advancements, and international agreements which have prompted countries across the world to turn towards the renewable energy sector and expand their power infrastructure will further help in boosting the growth of the market.

However, legal regulations for drone operations and the lack of skilled personnel in this field are factors that are hampering the growth of the market.

More importantly, in 2021, the renewable energy capacity is expected to surge with resumption of projects that were delayed as a result of the COVID-19 outbreak.  Adoption of drones for inspections in solar and wind farms along with favorable government policies for increasing renewable energy capacity are anticipated to reduce risks associated with hazardous labor and help in boosting the production and improving the economic conditions of the nations worldwide.

RENEWABLE DRONES MARKET SEGMENTATION:

By Type:

• Power Device
• RF Power Device

By Drone Type:

• Multirotor
• Fixed wing

By Solution:

• End-to-end solution
• Point solution

By End-User:

• Solar
  • Solar PV
  • Solar CSP
• Wind

By Application:

• Telecommunications
• Automotive
• Industrial
• Medical
• Military & Defense
• Aerospace
• Others

By Region: 

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

 REGIONAL INSIGHT:

The Asia Pacific region is anticipated to be the largest and the fastest growing regional market for renewable drones in the coming years. The growth in the region can be attributed to the increasing high demand for electricity due to rapid surge in urbanization, industrialization, and population growth, the scaling up of economic growth of emerging regions leading to an increased demand for power, the growing number of investments for renewable energy generation as a result of fall down in prices of solar panels, and increasing government subsidies for upgradation of the renewable energy sector etc along with various other associated factors. The major contributors in the region are India, Japan and China with countries such as Australia, South Korea and others also contributing at a significant level.

The North American region holds a significant share in the renewable drones market and is expected to double its size in the next 5 years. This is due to the growing number of renewable energy projects in countries like the U.S in the region, the formulation of multi-year federal tax incentives, several state-level favorable policies for solar energy in the region and the increasing number of key market players in the region etc. The U.S is the major contributor in the region.

The European region is to hold a prominent share in the renewable drones market and is expected to witness massive growth in the forthcoming years owing to the EU countries aim to increase the 20% renewable overall energy in 2020 to 27% by 2030, the estimated rise in the net renewable electricity generation projected to rise to 37%, 43%, and 53% by 2020, 2030, and 2050 and the increasing presence and establishment of bases of key market players etc. The major contributors in the region are The U.K and the Germany.

The Middle East & Africa region holds a substantial share and is anticipated to grow at a tremendous rate in the upcoming years in the renewable drones market owing to the increase in agricultural land , growing attempts to reduce the use of fossil fuel energy and the increasing government initiatives for pollution-free and clean energy among other factors etc.

FEW KEY PLAYERS IN RENEWABLE DRONES MARKET:

• ABJ Drones
• DRONE VOLT Group
• DroneDeploy
• Sky Futures
• DJI Enterprise
• Aerodyne Measure
• Asset Drone
• YUNEEC
• Skylark Drones
• Raptor Maps, Inc.
• Flyability
• Parrot Group
• Cyberhawk Innovations Limited
• PrecisionHawk
• ULC Robotics
• Sharper Shape Inc.
• Terra Drone Corp
• PrecisionXYZ
• Other Players

RECENT DEVELOPMENTS:

• In June 2020, DroneBase, a leading aerial data and analytics company, announced that it raised $7.5 million in new capital, expanded its service to the renewable energy market, and founded DroneBase Europe, GmbH, in Germany.
• In December 2020, Beam Global, the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced that the US Patent and Trademarks Office has issued US Patent No: 10,843,819, covering the UAV ARC™ Drone Recharging Network, Beam’s renewably energized, networked drone recharging solution, which is said to provide en route charging for unmanned aerial vehicles.
• In December 2020, Falco Drone Technologies received support from Marine-i enabling to develop a new drone which could play a vital role in the inspection and maintenance of floating offshore wind installations. A prototype of the design is said to commence trials in summer 2021.

Timeline Considered for Analysis:

- 2019: Base Year

- 2020 to 2025: Forecast Period

Research Scope and Deliverables

Overview & Executive Summary

Market Drivers, Trends, Challenges and Opportunities

Market Size and Forecast Projections

Macroeconomic Indicators of Various Countries Impacting the Growth of the Market

Extensive Coverage of Industry Players including Recent Product Launches and Market Activities

Porter’s Five Force Analysis

Market Segmentation Analysis:

Industry report analyzes the global renewable drones market by the following segments:

• Type
• Drone Type
• Solution
• End-User
• Application

Customization: We also offers customization’s in the industry report as per the company’s specific needs.

Key Questions Answered in the Global Renewable Drones Industry Report

• What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?