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Global Drones for Oil and Gas Market Overview
Drones for Oil and Gas Market Size were valued at USD 856.65 Million in 2023. The Drones for Oil and Gas industry are projected to grow from USD 1,155.51 Million in 2024 to USD 8,048.48 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 27.5 % during the forecast period (2024 - 2032).
The oil and gas industries prefer to use drones for oil and gas to capture the minute details. These industries prefer it because of its infrared cameras of very high resolution that give an accurate results. Detailed images of oil and gas activities have been captured in the camera by the oil and gas drones. The infra-red cameras have thermal imaging capabilities and LIDAR (Light Detection and Ranging) capabilities that are helpful to inspect or capture the infrastructure of the oil and gas such as offshore platforms, pipelines, tailing ponds, oil spills & damage, and rigs. Through the help of drones, these captured images are sent to the analysis process and, based on this analysis report, preventative actions are taken wisely. In this, automated drones (UAVs) offer high-quality aerial data for all maintenance and inspection requirements. Here, gas-operated drones operate completely through engines.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Drones for Oil and Gas Market Trends
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Advancements in drone technology to boost the market growth
Drones are now being used by oil and gas operators, which will accelerate market growth. This is due to technology improvements, the incorporation of AI, methane gas detection, and thermal imaging. As a result of advances in artificial intelligence, drones can now be operated without the need for human intervention because sensors with AI integration are now easily capable of moving inside closed structures and will not be susceptible to wall collisions. As a result, this application will likely grow and support the growth of drones for oil and gas market.
Drones for Oil and Gas Market Segment Insights
Drones for Oil and Gas Type Insights
The market segmentation, based on type, includes Hybrid and nano, Fixed-wing, Multi-rotor, and Single rotor. The Multi-rotor segment holds the majority share in 2021 of the Drones for Oil and Gas revenue. Due to its being readily available in the market and comparatively cheaper.
Drones for Oil and Gas Application Insights
Based on Application, the market segmentation includes Inspection, Security & emergency response, Surveying & mapping. The Surveying & mapping segment dominated the market in 2021. This segment enhances the growth of the market due to the analysis of reservoirs and the developmental growth in the exploration of unconventional and conventional reserves.
Figure 2 Drones for Oil and Gas Market, by Application, 2023 & 2032 (USD Million)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Drones for Oil and Gas Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American region is holding the dominant position in generating the largest drones for oil and gas market share for the research period due to increasing production activities in oil and gas in this region and rising investments in exploration. Moreover, this region is enhancing the regional growth of drones for the oil and gas market due to the growing usage of drones in the oil and gas industry and the growing offshore drilling activities in the North American region.
Figure 3 Drones For Oil And Gas Market Share By Region 2021 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Drones for Oil and Gas Key Market Players & Competitive Insights
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Drones for Oil and Gas industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Drones for Oil and Gas industry to benefit customers and expand the market sector. The market has recently given medicine some of the most important advantages. Major market players, including Delair, Airobotics, Airborne Drones, Terra Drone, Intel Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
Delair is a startup that creates visual intelligence solutions to help businesses collect, manage, and evaluate their assets. Its portfolio integrates hardware for unmanned aerial vehicles (UAVs) with the industry's platform for data management and analytics. The mining, construction, agricultural, oil and gas, utilities, and transportation industries are all served by the company.
Also, Airobotics, which was launched in 2014, offers drone automation systems for airborne data collecting. It provides drones for surveying, mapping, inspections, and other purposes. Seaports, industrial facilities, and the mining industry are all served by the firm.
Key Companies in the Drones for Oil and Gas market include
- Cyberhawk Innovations Limited
- PrecisionHawk
- Delair
- Airobotics
- Airborne Drones
- Terra Drone
- Intel Corporation
- AeroVironment Inc
- Aerodyne Group
- Sky-Futures
Drones for Oil and Gas Industry Development
In November 2022: AIROBOTICS Ltd announced that it would provide further drone equipment and services to a UAE government body. This is the next phase in that government entity's broader fleet deployment to substantially implement Airobotics' Optimus Urban Drone Infrastructure.
In October 2022: Airobotics Ltd. has announced the acquisition of Iron-Drone assets to provide counter-drone capabilities through its Optimus system.
Drones for Oil and Gas Market Segmentation
Drones for Oil and Gas Type Outlook
- Hybrid and nano
- Fixed-wing
- Multi-rotor
- Single rotor
Drones for Oil and Gas Application Outlook
- Inspection
- Security & emergency response
- Surveying & mapping
Drones for Oil and Gas Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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