The global Renewable Drones Market size will grow to USD 148 million by 2025 from USD 45 million in 2020, at a CAGR of 27.1% during the forecast period. The rising adoption of drones for reducing inspection, increasing focus on asset optimization are the driving factors for the Renewable Drones Market, globally. Technological developments software for drone data analytics and rapid development of renewable plants which creates opportunities for growth of the market.
The solar segment is expected to be the fastest growing segment of the renewable drones market.
The solar segment, by end user, Renewable Drones Market is estimated to grow at the fastest rate during the forecast period. This is mainly because of the increasing demand for inspection operation from existing solar farms. Moreover, rapid investments for development of solar PV farms in the Asia-Pacific region are factors propel the growth of solar segment in the Renewable Drones Market.
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Drones collect data more than 50 times faster than traditional methods. Solar farms are typically very large installations, so a drone equipped with an appropriate thermal camera can scan the entire farm for defects faster than using a hand-held thermal camera on the ground. In the case of wind turbines, inspections are performed manually by climbing or using long-range photography. Manual inspections involving climbing introduce hazards that can be avoided with drone inspections. Ground-based data collection can be slow and lacks the detail and flexibility that a drone can provide. A drone can perform an inspection of 1 wind turbine (3 blades) in 40 minutes. Thus, drone inspections are faster, accurate, and economical solutions for solar and wind farm inspections.
Asia Pacific likely to emerge as the largest renewable drones market
In this report, the Renewable Drones Market has been analyzed for six regions, namely, North America, South America, Europe, Asia Pacific, Middle East & Africa. Asia Pacific is expected to be the largest Renewable Drones Market during the forecast period. Asia Pacific comprises China, India, Japan, Australia, and Rest of Asia Pacific. The region has a high demand for electricity due to a rise in urbanization, industrialization, and population growth. The rapid increment in economic growth would lead to an increase in the demand for power. This would necessitate greater investments in the renewable power generation infrastructure. The region is expected to experience an increase in investments due to the rapidly declining prices of solar panels.
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Some of the key players in the Renewable Drones Market are DJI Enterprise (China), Terra Drone (Japan), Aerodyne Measure (US), and DroneDeploy (US).The leading players are adopting various strategies to increase their share in the Renewable Drones Market.