Market Size of Utility Drone Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 20.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Utility Drones Market Analysis
The Utility Drone Market is expected to rise at a CAGR of over 20 % during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, factors such as reducing time and cost in asset management and thus decreasing the number of equipment failures are likely going to drive the utility drone market.
- On the other hand, technical drawbacks such as limited battery backup for being in the air are expected to restrain the utility drone market.
- Nevertheless, technological development in drones, such as automation and an increase in payload-carrying capacities, are expected to create several future opportunities for the utility drone market.
- Asia-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments in power generation, distribution, and transmission networks in the countries of this region, including India, China, and Australia.
