Rockville, April 18, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key service providers of drone pipeline inspection positioned across regions, adoption of services, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider: The drone pipeline inspection market size is anticipated to reach US$ 336.1 million in 2023 and grow at a healthy 14.2% CAGR between 2023 and 2033. The use of drone technology and AI has greatly benefited the oil and gas sector, and pipeline monitoring in particular. Since more sensitive methane detection sensors have recently been developed for UAV platforms that can fly closer to the sources of pipeline gas leaks, technology has made some exciting advances.
With the help of several recently emerging technologies, oil and gas operators have been able to digitise various aspects of their value chain. Combining intelligent AI algorithms with an end-to-end solution that incorporates sensors with real-time edge computing for asset and activity profiling is ideal for pipeline monitoring as well as the oil and gas industry as a whole.
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As a result, it is possible to adopt a model-focused strategy that offers quick insights into operational circumstances, enabling safe, preventative maintenance, continuous process improvement, and adaptable business strategies. As a result of drone pipeline inspection becoming more sophisticated in the upcoming years, it is anticipated that the market will expand significantly over the course of the forecast period.
Key Takeaways from Market Study
- The global drone pipeline inspection market is projected to reach US$ 1,161.3 million by 2033.
- The market witnessed 9.8% CAGR between 2018 and 2022.
- Optionally piloted in operation segment dominates the market with 12.2% market share in 2023.
- Under end users, oil and gas dominates the market and are valued at US$ 86.6 million in 2023.
- Based on region, demand for drone pipeline inspection expected to increase at CAGR of 14.9% in East Asia during the forecast period.
“Growing Emergency Response Boosts the Drone Pipeline Inspection Market,” says a Fact.MR analyst.
Competitive Landscape
Market participants are concentrating resources and capital on research and development while looking to expand their regional footprint. The company has built constructive partnerships and collaborations with governments and end-user industries. High demand for modern drones and accessories allows market participants to expand their product range.
Some of the key developments are:
- In October 2021, SZ DJI Technology Co., Ltd. introduces the first integrated LiDAR drone solution and powerful full-frame camera payload for aerial surveys. The DJI Zenmuse L1 is DJI's first LIDAR solution for aerial surveying.
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Prominent Players are:
- 3D Robotics, Inc.
- Acecore Technologies
- Airobotics Ltd.
- Vision Aerial, Inc.
- Teledyne FLIR LLC,
- American Robotics, Inc.
- Lockheed Martin Corporation
- SZ DJI Technology Co., Ltd.
- Yuneec International Co. Ltd.
- Delair
- Qualcomm Technologies Inc.
- BAE Systems PLC
- Israel Aerospace Industries
- AgEagle Aerial Systems Inc.
Segmentation of Drone pipeline inspection Industry Research
- By Drone Type :
- Fixed Wing
- Rotary Wing
- Hybrid
- By Operation :
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
- By End Users :
- Oil & Gas
- Food & Beverages
- Mining
- Chemicals
- Pharmaceuticals
- Water Treatment & Sewage
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East and Africa (MEA)
Market Development
Drones not only collect high-resolution images, but are also equipped with technologies such as gas detection sensors and infrared cameras. These are used to make sure everything is working properly. Thermal imaging cameras can detect thinned or damaged pipe insulation, so repairs can be made before they burst. UAVs provide scanning of pipelines over long distances and in hard-to-reach places. UAVs can regularly fly close to the ground at night, follow highly accurate trajectories, keep operating costs low, and be environmentally friendly. During the anticipated period, these emergence of advanced technology can help the global drone pipeline inspection market grow.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global drone pipeline inspection market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of
drone type (fixed wing, rotary wing, hybrid wing), operation (remotely piloted, optionally piloted, fully autonomous), end users (oil & gas, food & beverages, mining, chemicals, pharmaceuticals, water treatment & sewage, others) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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Key Questions Covered in the Drone Pipeline Inspection Market Report
- What is the projected sales value of the drone pipeline inspection Industry in 2023?
- At what rate will the global drone pipeline inspection market size grow until 2033?
- Which are the factors hampering the growth in the drone pipeline inspection?
- Which region is expected to lead in the global drone pipeline inspection market By 2033?
- Which are the factors driving the drone pipeline inspection Industry during the forecast period?
- What is the expected market value of the drone pipeline inspection market during the forecast period?
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