The global Renewable Drones Market is projected to reach a size of USD 148 million by 2025, at a CAGR of 27.1%, from an estimated USD 45 million in 2020. 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 to create opportunities for growth 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 operations from existing solar farms. Moreover, rapid investments for the development of solar PV farms in the Asia-Pacific region are factors propelling the growth of the solar segment in the Renewable Drones Market.
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.
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The multirotor segment is expected to dominate the Renewable Drones Market.
Multirotor drones have various advantages over fixed wing drones; for instance, multi-rotor aircraft can perform vertical takeoffs and landings. They also require less space to take flight, can hover mid-flight, and maneuver around objects for easy inspection, mapping, and modeling. Further, multirotor drones use multiple propellers to maneuver; hence, they do not require a larger surface area or wingspan as compared to Fixed-wing drones. Moreover, multirotor drones are designed to be folded down and packed up into smaller cases, which makes them easier to transport. Such factors drive the growth of multirotor drones in the Renewable Drones Market.
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. The Asia Pacific is expected to be the largest Renewable Drones Market during the forecast period. The Asia Pacific comprises China, India, Japan, Australia, and the 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 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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The prominent players in the global Renewable Drones Market are DJI Enterprise (China), Terra Drone (Japan), Aerodyne Measure (US), and DroneDeploy (US).