Portland, OR , Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global inspection drone market generated $1.9 billion in 2021, and is projected to reach $8.6 billion by 2031, growing at a CAGR of 16.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Inspection Drone Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.9 billion |
| Market Size in 2031 | $8.6 billion |
| CAGR | 16.4% |
| No. of Pages in Report | 246 |
| Segments Covered | Drone type, Operation Mode, End-Use Industry, And Region. |
| Drivers | Increase in the standard of living |
| Significant surge in the demand for improved surveillance | |
| Opportunities | Emergence of various start-ups across the globe |
| Persistent technological advancements | |
| Restrains | Extortionate cost of luxury jewelry |
| Limited to specific consumers |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global inspection drone market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of inspection drones, which adversely impacted their demand during the pandemic.
- In addition, there was a shortage of materials, components, and finished goods, which further aggravated the impact on the market.
- This is majorly due to the stringent social distancing restrictions imposed by the government to curb the spread of the virus during the pandemic. However, increase in the use of inspection drones in case of various man-made and natural disasters or to supervise lockdown restrictions offer remunerative opportunities for the growth of the market.
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The report offers detailed segmentation of the global inspection drone market based on drone type, operation mode, end-use industry, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest growing segments and highest revenue generation that is mentioned in the report.
Based on drone type, the multirotor drone segment held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The hybrid drone segment, on the other hand, is expected to cite the fastest CAGR of 18.7% during the forecast period.
Based on operation mode, the semi-autonomous segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The fully autonomous segment, on the other hand, is expected to cite the fastest CAGR of 17.9% during the forecast period.
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Based on end-use industry, the construction and infrastructure segment held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The agriculture segment, on the other hand, is expected to cite the fastest CAGR of 17.8% during the forecast period.
Based on region, the market across the North America region held the largest market share in 2021, holding two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 18.1% during the forecast period.
The key players analyzed in the global inspection drone market report include American Robotics, Inc., Aerovironment Inc, Ageagle Aerial Systems Inc, DJI, Israel Aerospace Industries, Microdrones, Parrot SA, PrecisionHawk, Trimble Inc., and Yamaha Motor Corp.
The report analyzes these key players in the global inspection drone market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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