Industrial UAVs-Drone Market Overview
Product Overview and Scope of Industrial UAVs Drone Market
Industrial Unmanned Aerial Vehicle is also known as drones. The Industrial UAV is designed for industrial application. The industrial drones are capable of deploying auxiliary work in industrial applications. Th drone are used in energy sector for survey, and mapping. Industrial UAV offers advanced system, flight times, and ability to deploy a variety of payloads, including specialty sensors, imaging equipment, and custom payloads for research and measurement applications. Industrial drones improve the efficiency and reduces the time of tasks. Industrial drones used for transportation of medical product such as blood, vaccines, medicines, and medical samples. Industrial
UAV has application in agricultural sector, construction, oil and gas, maritime, film, marine, and military sector. The industrial drone offers several advantages such as:
• Safety: The energy sector involves oil monitoring process conducted at high altitudes. The oil exploration activities result in exposure to toxic chemicals to workers. Thus, industrial drones prevent direct contact of toxic chemicals
• Low-cost: Industrial Drones saves labor cost in industrial operation.
• High-accuracy: Industrial drones operate with a high-level GPS system, which shows accurate statistical data.
The demand for industrial drone is high for industrial application, due to their ability to drive efficiency and data analytics. The rise in R&D spending on the industrial drone, drives its application in end-use sector. According to the data published by the Association for Uncrewed Vehicle Systems International in 2023, the US Department of Defense invested ~USD 2.6 billion on development of industrial drones. The increase in investment or spending on drone, boosts its demand in military, oil and gas and other industrial application.
Industrial UAVs-Drone Market Segmentation
By Types:
• Multirotor Drones
• Fixed wing UAV
• Single Rotor Drone
• Fixed Wing Hybrid Drones
By Application:
• Inspection & Maintenance
• Surveillance
• Mapping and Tracking
• Logistics and Transportation
• Others
By End-Use:
• Military and Defense
• Medical
• Agricultural
• Construction
• Oil and Gas Sector
• Telecommunication
• Others
By Type:
The fixed wing UAV drone accounts for a significant share XX% as this fixed wing drone can fly for long hours. The fixed wing drone can fly at high altitudes, which increases its demand for tracking crops in agricultural sector. The fixed wing UAV gained popularity in several application such as delivery of cargo, inspection and surveys, military ISTAR operation, environmental modelling and others. Furthermore, the Drone Fund, a venture capital fund in Japan invested USD 170.0 Million for the development of UAV ecosystem. Delair designed fixed wing UAV for border surveillance, intelligence and special operations. The Charles Stark Draper Laboratory, Inc. in partnership with Department of Defense invested ~USD 98.0 billion on drone and UAV software systems (Source: Charles Stark Draper Laboratory, Inc., 2020). The increase in R&D spending on military UAV system, boosts the demand for fixed wing drone system. The rising popularity and investment in the development of UAV drone, boosts its demand in end-use application.
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Global Industrial UAV Market by Type |
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Source: Secondary Research, Interviews, and Expert Analysis |
Global Industrial UAVs-Drone Revenue Market by Region (2018-2030)
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Regions |
2018 |
2022 |
2030 |
Market Share (%) 2030 |
CAGR (%) (2023-2030) |
|
North America |
xx |
xx |
xx |
xx% |
xx% |
|
Europe |
xx |
xx |
xx |
xx% |
xx% |
|
Asia Pacific |
xx |
xx |
xx |
xx% |
xx% |
|
Latin America |
xx |
xx |
xx |
xx% |
xx% |
|
Middle East & Africa |
xx |
xx |
xx |
xx% |
xx% |
|
Total |
xx |
18.7 |
xx |
xx% |
18.5% |
Global Industrial UAVs-Drone Market was valued at USD 18.7 Billion, in 2022 and is expected to grow at a CAGR of 18.5% over the forecast period, from 2023 to 2030.
Industrial UAVs-Drone Market – Industry Analysis
Market Drivers
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The increasing utilization of UAV drones in the Oil and Gas Industry is driving the growth of the industrial UAVs-drone market
Unmanned Aerial Vehicles (UAVs), or drones, play an important role in the oil and gas industry because of their increasing capacity to improve operational efficiency throughout the value chain. The utilization of drones has significantly improved the speed, safety, and affordability of inspection, surveillance, and leak detection. As a result, companies are taking advantage of this newfound opportunity. Through the growing use of unmanned aerial vehicles (UAVs), oil and gas companies are enhancing the quality of their inspection procedures and findings, improving the safety and well-being of employees, while lowering the high costs associated with manual inspection and analysis of oil and gas systems.
Drones equipped with image sensors that have RGB, infrared (IR), and lidar (light detection and ranging) capabilities are revolutionizing data collection for the oil and gas industry. With advancements in imaging, sensing, and data transmission, drones can now capture infrared and laser images to record corrosion, weathering, and spacing characteristics of assets. Additionally, gas detectors installed on drones can collect emission-related data points. These new use cases for drones are transforming the role of inspections in the industry. With these increasing advancements in drone technology, the demand for drones in the oil and gas industry is growing. Therefore, drone manufacturers are collaborating with businesses globally to develop specialized solutions for industrial usage. For example, the oil and gas giant, Chevron has deployed drones to detect leaks, monitor assets, and map earthworks. The company used various drones with different cameras to map oil buildup on coastlines and track oil slicks offshore. As a result, drone flights revealed over 70% of oil targets along five miles of shoreline.
In oil and gas, drone inspection also helps collect seismic data during exploration. This data holds a lot of information. It can help locate oil reserves and provide information on fracture density and orientation. As a result, it improves the accuracy of drilling and well placement. Furthermore, in order to support the global effort against climate change, the oil and gas industry is increasingly focused on reducing methane emissions. To achieve this, it is crucial for oil and gas companies to effectively detect and measure emissions. Hence, drone applications offer a solution by detecting methane emissions in inaccessible locations. This factor is also contributing to the growth of the industrial UAVs-drone market
Moreover, the demand for oil and gas is increasing globally. For instance, according to the India Brand Equity Foundation, by 2045, it is estimated that India's oil consumption will have increased by a factor of two, to 11 million barrels per day. In addition, by 2029–30, India's demand for diesel is projected to increase by up to 163 MT. By 2045, 58% of the world's oil needs will be met by gasoline and diesel. Additionally, a 25 BCM increase in natural gas consumption is anticipated, with average annual growth of 9% through 2024. Similarly, the global demand for crude oil is also increasing.
Looking at the data presented, it is evident that the global oil and gas industry is experiencing significant growth. To sustain this momentum, it is crucial for the industry to explore innovative and forward-thinking solutions for plant asset management, such as regular inspections using drone technology. Many leading industries have already adopted this approach to enhance efficiency, safety, and sustainability, making it a smart move for the oil and gas sector to follow suit. These are all the major factors supporting the growth of the global industrial UAVs-drone market.
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Increasing technological advancements in industrial drones is accelerating the growth of the market
Global Industrial UAVs-Drone Manufacturers Profiles/Analysis
Aerovironment, Inc.
Aerovironment, Inc. Basic Information, Manufacturing Base, Sales Area, and Competitors
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Sr. No. |
Item |
Description |
|
1 |
Company Name |
Aerovironment, Inc. |
|
2 |
Website |
www.avinc.com |
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3 |
Established Date |
1971 |
|
4 |
Headquartered |
United States |
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5 |
Market Position/ History |
The company was established in 1971 and founded by Paul MacCready Simi. It is headquartered in Valley, California, United States. In 1986, the company created Pointer, a hand-launched, battery-powered, unmanned aircraft with cameras. It serves to the US Department of Defense entities including the US Army, Special Operations Command, Marine Corps, Air Force, and Navy, and commercial customers. It supplies through direct sales teams in the US, and international sales representatives in foreign countries. |
|
6 |
Sales Area |
Worldwide |
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7 |
Manufacturing Location |
United States |
|
8 |
Ticker |
NASDAQ: AVAV |
|
9 |
No. of Employees |
~ 1,214 (2022) |
|
10 |
Competitors |
Delair SAS, DroneDeploy Inc, Parrot SA, SZ DJI Technology Co. Ltd., and others. |
|
11 |
CEO |
Wahid Nawabi |
|
12 |
Ownership Type |
Public |
|
13 |
Contact Information |
241 18th Street South, # 415. Arlington, VA 22202. Tel: 703.418.2828. |
Business Segment/ Overview:
Aerovironment, Inc. is a U.S.-based company engaged in the manufacturing of unmanned aircraft systems, unmanned aerial vehicles, loitering munition systems, and unmanned ground vehicles. It operates through several segments such as unmanned aircraft systems (UAS), tactical missile systems (TMS), unmanned ground vehicles (UGV), High Altitude PseudoSatellite (HAPS) and others.
Aerovironment, Inc. offers tactical missile systems, small UAS, sensors, digital data links, and unmanned ground vehicles. It also offers engineering, logistics, support services, and training services. The company offers its solutions under several brand names such as Raven, Puma, Wasp, Quantix, Aero Vironment, and Switchblade brands. Financials
Industrial UAV-Drones Product Types Specification
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Product |
Product Description |
|
PUMA LE |
At just 23.5 pounds, this ultra-lightweight Group 2 aircraft is launchable by hand or bungee and provides up to 6.5 hours of flight endurance, delivering Group 2 capabilities in a Group 1 footprint while stowed efficiently in a two-case mission pack out. Puma LE is all-environment and provides an operational range of 60 km in land and maritime environments when used with a long-range tracking antenna. The secondary payload bay offers dedicated power and Ethernet, providing 3.4 lb of payload capacity. Designed with mission efficiency in mind, operators can swap between Mantis i45 and the optional Mantis i45 N for day and nighttime night operations. Its plug-and-play, interoperable LRU components can be shared across other Puma AE aircraft. Features
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RAVEN B RQ-11 |
The Raven system is the most widely deployed unmanned aircraft system in the world, ideal for low-altitude intelligence, surveillance, and reconnaissance missions that depend on rapid deployment and pinpoint maneuverability. Lightweight and simple to operate, the Raven is a rucksack portable and can be hand-launched for day or night observation. The Raven has an optional stabilized gimbaled payload and delivers real-time color and/or infrared imagery to the ground control and remote viewing stations. Due to its advanced avionics, Raven can be operated manually or programmed for autonomous navigation. Features:
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PUMA 3 AE |
Battlefield-proven, the third-generation Puma 3 AE (All Environment) delivers mission-critical ISR in all environments. Redesigned to deliver class-leading performance, the lightweight group 1 UAS features a reinforced airframe with an optional underwing transit bay for secondary payloads and third-party applications. Multi-mission capable, operators can swap between Mantis i45 and the enhanced night variant Mantis i45 N, for day, night, and low light operations in all environments. Launchable by hand, bungee, rail, or vehicle, and recoverable by deep-stall landing, the Puma 3 AE provides class-leading capability in challenging environments around the world. Features:
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Recent Developments:
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Year |
Latest News |
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May 2023 |
AeroVironment Introduced VTOL Kit for Puma AE UAS In May 2023, AeroVironment, Inc announced the Puma VTOL (vertical take-off and landing) kit, designed for plug-and-play integration into Puma 2 AE and Puma 3 AE small unmanned aircraft systems (SUAS). The optional Puma VTOL kit expands the operational capabilities of the combat-proven Puma system in complex terrain. |
Business Strategy
Aerovironment, Inc. is involved in expanding the market penetration of existing products and services. For instance, the company intend to increases the penetration of small UAS and MUAS, and UGV products and services within the U.S. military, and the military forces of allied nations. Moreover, the company is engaged in delivering innovative new solutions to existing and new markets. For instance, the company plans to continue investing in internally-funded research and development projects while expanding its pursuit of customer-funded research and development projects to generate revenue. Additionally, the company is engaged in introducing new products to provide value to its customers. For instance, AeroVironment introduced Next-Generation All-Electric VAPOR 55 MX Helicopter Unmanned Aircraft System, built for heavier payloads and longer distances. Furthermore, the company has significant focus on developing differential portfolio. It also offers unmanned aircraft systems (UAS), tactical missile systems (TMS), unmanned ground vehicles (UGV) and related services primarily to organizations within the U.S. Department of Defense (DoD) and to international allied governments.
Strength
- Diversified product portfolio
- Significant focus on Product innovation
- Robust focus on research and development
Weakness
- Relative high price of the product than other players
Opportunity
- Growing military and aerospace industry
- Innovation in technology
- Expansion of business in emerging markets
Threats
- Stringent government rules and regulations
- Military transformation and changes in overseas operational level
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