The oil and gas drones global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Oil And Gas Drones Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The oil and gas drones market size has grown exponentially in recent years. It will grow from $6.9 billion in 2023 to $9.36 billion in 2024 at a compound annual growth rate (CAGR) of 35.5%. The growth in the historic period can be attributed to advancements in drone technology, increasing regulatory approvals for drone usage in oil and gas industry, growing demand for cost-effective inspection and monitoring solutions, rising emphasis on worker safety and risk reduction.
The oil and gas drones market size is expected to see exponential growth in the next few years. It will grow to $31.21 billion in 2028 at a compound annual growth rate (CAGR) of 35.1%. The growth in the forecast period can be attributed to shift towards autonomous drone operations and swarm technology, increasing use of hyperspectral imaging for asset inspection and environmental monitoring, growth of data analytics and predictive maintenance capabilities for drone-collected data, expansion of drone applications beyond inspection. Major trends in the forecast period include integration of artificial intelligence and machine learning in drone systems, development of long-range and endurance drones for extended surveillance, adoption of drones for methane detection and emissions monitoring, expansion of offshore drilling activities.
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Scope Of Oil And Gas Drones Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oil And Gas Drones Market Overview
Market Drivers –
The increase in government investment is expected to fuel the growth of the oil and gas drones market going forward. Government investment refers to the allocation of funds by a government towards various projects, initiatives, or sectors to achieve specific objectives such as economic development, infrastructure improvement, innovation promotion, or social welfare. Government investment plays a crucial role in shaping the trajectory of drone technology adoption in the oil and gas sector by fostering innovation, facilitating collaboration, addressing regulatory challenges, and supporting the development of necessary infrastructure. For instance, in July 2022, according to the Department of Business Energy and Industrial Strategy and the Department of Transport, a UK-based government federal agency, between 2020 and 2022, government grants totaling $43.83 million (£34 million) supported diverse innovative projects, including COVID drone response and hospital logistics solutions, leading to advancements in offshore and onshore oil and gas drone capabilities. Therefore, the increase in government investment is driving the oil and gas drones market.
Market Trends –
Major companies operating in the oil and gas drones market are focused innovative solutions, such as integrated drone solutions, to increase their profitability in the market. Integrated drone solutions are driving innovation and transformation in the oil and gas industry by empowering companies to leverage advanced aerial technologies for improved efficiency, safety, and decision-making capabilities. For instance, in March 2023, Asteria Aerospace, an India-based drone technology company, launched SkyDeck. SkyDeck is an end-to-end drone operations platform designed to streamline drone operations across multiple industries, including oil and gas. This cloud-based software offers a range of services, such as fleet management, flight scheduling, data processing, and visualization, all of which can significantly influence the use of drones in the oil and gas sector. SkyDeck’s integrated drone solutions can have a significant impact on the oil and gas sector by enhancing safety, efficiency, and decision-making processes related to drone operations.
The oil and gas drones market covered in this report is segmented –
1) By Type: Single Rotor, Multi Rotor, Fixed Wing, Hybrid And Nano
2) By Applications: Inspection, Security And emergency response, Surveying And mapping
3) By End-Use: Construction, Agriculture, Mining, Oil And Gas, Other End-Use
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Regional Insights –
North America was the largest region in the oil and gas drones market in 2023. The regions covered in the oil and gas drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the oil and gas drones market are The Boeing Company, GE Aviation, BAE Systems plc, Yamaha Motor Co. Ltd., DJI Enterprise, AeroVironment Inc., Yuneec International, Skydio Inc., XAG Co. Ltd., senseFly SA, Microdrones GmbH, Flyability SA, Quantum-Systems GmbH, Shenzhen Autel Robotics Co. Ltd., PrecisionHawk Inc., Teal Drones Inc., Ascending Technologies Inc., Freefly Systems Inc., Aeryon Labs Inc., Vantage Robotics Inc., Garuda Robotics Private Limited, Guangzhou EHang Intelligent Technology Co. Ltd., Volansi Inc
Table of Contents
1. Executive Summary
2. Oil And Gas Drones Market Report Structure
3. Oil And Gas Drones Market Trends And Strategies
4. Oil And Gas Drones Market – Macro Economic Scenario
5. Global Oil And Gas Drones Market Size and Growth
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32. Global Oil And Gas Drones Market Competitive Benchmarking
33. Global Oil And Gas Drones Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Oil And Gas Drones Market
35. Oil And Gas Drones Market Future Outlook and Potential Analysis
36. Appendix
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