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Drone Surveillance Market for Energy & Power to Hit USD 415.8 Million by 2027; Surging Demand for Advanced Rig Monitoring Technologies from Oil & Companies to Fuel Growth, Says Fortune Business Insights™

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Pune, India, Dec. 14, 2020 (GLOBE NEWSWIRE) — The global drone surveillance market for energy and power size is projected to reach USD 415.8 million by 2027, exhibiting a CAGR of 19.6% during the forecast period. Rising deployment of drones for monitoring and inspection in the energy and power industry will be a distinct trend driving this market, shares Fortune Business Insights™ in its report, titled “Drone Surveillance Market for Energy & Power Size, Share & COVID-19 Impact Analysis, By Type (Multirotor, Fixed Wing, and Hybrid), By Application (Pipeline Monitoring and Inspection, Offshore Platform Inspection, Wind Turbine Inspection, Power Plant Inspection, Solar Panel Inspection, and Others), and Regional Forecast, 2020-2027”. Drones, or unmanned aerial vehicles (UAVs), have proven to be a highly efficient and cost-effective technology for conducting surveillance activities in the energy and power industry. The considerable benefits offered by these devices have induced governments and companies to deploy them to perform a range of functions such as gathering data for inspection, security & surveillance, and maritime search & rescue. For example, the UK Royal Navy has been utilizing drones to detect defects in ships so that the issues can be resolved while at sea. On the other hand, the European Maritime Safety Agency (EMSA) is employing UAVs to pollution monitoring, border control, and capturing illegal activities such as drug trafficking. Drone surveillance technology is, thus, is widely applied for a variety of purposes, which bodes well for this market.The report states that the global market value was at USD 182.7 million in 2019. The highlights of the report include:In-depth evaluation of the factors driving and constraining the market;Piecemeal study of the different segments of the market;Careful examination of the competitive landscape of the market; andDetailed analysis of the regional trends and prospects in the market.
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List of the Leading Companies Profiled in the Global Drone Surveillance Market for Energy & Power are:Texo DSI (The U.K.)Avitas Systems, Inc. (The U.S.)Terra Drone Corp. (Japan)Sky-Futures Ltd (The U.K.)Percepto (Israel)Martek Aviation (The U.K.)BAE Systems Inc.  (The U.K.)Airobotics Ltd. (Israel)Aerodyne Group (Malaysia)Australian UAV Pty Ltd (Australia)Viper Drones (The U.S.)Sphere Drones (Australia)SEIKEY Srl (Italy)Mistras Group (The U.S.)Cyberhawk Innovations Limited (The U.K.)Azure Drone SAS (France)Aesthetix Global (UAE)
Market DriverIncreasing Reliance on Drones by Oil & Gas Companies amid COVID-19 to Propel GrowthEven as the coronavirus outbreak ravages the global economy, the Drone Surveillance Market for Energy & Power growth is likely to gain momentum amid the pandemic as oil & companies show increasing dependence on UAVs for managing their rigs in the open seas. In the US, for example, the North Carolina-based drone service specialist SkyScopes is providing its state-of-the-art, LiDAR-powered UAVs to oil & gas companies in the region for the inspection of pipelines and other critical infrastructures. In Europe, Italy-domiciled energy company Snam has been testing ‘beyond the visual line of sight’ (BVLOS) unmanned aircraft systems (UAS) to test its vast network of pipelines. The main factor pushing the adoption of drones in the hydrocarbon industry is the sudden drop in on-site workforce due to the social distancing measures imposed to contain the coronavirus. More importantly, drones are a much safer option to conduct surveillance and inspection activities as they eliminate the need to put workers’ lives in danger and can in fact boost efficiency.
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Regional InsightsRapid Adoption of UAVs to Foster Healthy Growth of the North America MarketNorth America commanded the Drone Surveillance Market for Energy & Power share in 2019, showcasing a market size of USD 69.3 million, on account of the speedy adoption of drones by utility companies and government agencies in the region. Besides this, growing intensity of exploration and production activities by oil & gas companies in the region will also stimulate the regional market during the forecast period.While North America will lead the overall market, Asia Pacific is predicted to register the highest CAGR on account of the proliferation of UAV service providers in India and China. The market in the Middle East & Africa is expected to enjoy lucrative prospects owing to the large presence of oil & gas companies in the region.
Competitive LandscapeLaunch of Cutting-Edge, Cost-Effective Solutions by Key Players to Spur CompetitionKey players in the market for drone surveillance for energy and power are concentrating their energies on developing and introducing drone solutions that are not only top-of-the-line but are also cost-effective for end-users. Apart from this, companies are also investing in new market entrants to leverage their ideas and innovations.
Industry Developments:August 2020: Equinor, the energy company based in Norway, announced the completion of the world’s maiden logistics operation using drones to an offshore construction. Manufactured by Schiebel, the drone carried a 3D-printed component for the lifeboat system on the Troll A platform in the North Sea.July 2020: Texo DSI announced the successful delivery 3D digital twins of four offshore platforms – Tern Alpha, Cormorant Alpha, North Cormorant, and Eider Alpha – for its client, TAQA in the North Sea. Texo deployed UAVs to collect survey data from all four assets and the operation was completed in one week.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/industry-reports/drone-surveillance-market-100511 
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Industry Developments –Mergers, Acquisitions and PartnershipsLatest technological AdvancementsPorters Five Forces AnalysisSupply Chain AnalysisQualitative InsightsImpact of COVID-19 on the Drone Surveillance Market for Energy & PowerSupply Chain ChallengesSteps Taken by the Industry/Government/Companies to Overcome the ImpactKey Developments in the Industry in Response to COVID-19Potential Opportunities due to COVID-19 OutbreakGlobal Drone Surveillance Market for Energy & Power Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Type Multirotor Fixed Wings Hybrid OthersMarket Analysis, Insights and Forecast – By Application Pipeline Monitoring and Inspection Offshore Platform Inspection Wind Turbine Inspection Power Plant Inspection Solar Panel Inspection OthersMarket Analysis, Insights and Forecast – By Region North America Europe Asia Pacific The Middle East & Africa Latin America TOC Continued…!

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Have a Look at Related Research Insights:Drone Services Market Size, Share and Industry Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-use Industry (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment, and Others), and Regional Forecast, 2019- 2026LiDAR Drone Market Size, Share and COVID-19 Impact Analysis, by Type (Solid-state LiDAR and Mechanical LiDAR), By Application (Fixed Wing, Multirotor, Helicopter, Hybrid Multirotor), and Regional Forecasts, 2020- 2027

About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs
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