Unmanned Aerial Systems and Drone Market Growth to Exceed $10 Billion by 2030
Regulatory hurdles, security, and technology limitations are among the barriers to market growth
A new report from Guidehouse Insights provides an overview of unmanned arial systems (UAS) and drone technologies and their applications across critical energy infrastructure markets, as well as an overview of key industry trends, including market drivers and barriers.
UAS have become a useful and cost-effective technology to maintain and maximize operations across the varying sectors of the critical energy infrastructure. They are are used to drive efficiencies in inspections of various critical assets such as the aging transmission and distribution (T&D) network, utility-scale baseload and renewable generation assets, mines, and all segments of the oil & gas (O&G) value stream. These technologies can also be used for emergency response, outage restoration, and search and rescue missions and can provide unparalleled benefits in terms of worker safety. According to a new report from Guidehouse Insights, the UAS and drone technologies market is expected to grow at a compound annual growth rate (CAGR) of 24.9% over the coming years, reaching $10.6 billion by 2030.
“The energy industry is a critical infrastructure industry because the destruction or weakening of the system would have a devastating impact on public health and safety, national security, and economic stability,” says Hannah Davis, senior research analyst with Guidehouse Insights. “With the ongoing evolution of advanced analytics capabilities, high speed communication networks, and secure connectivity, UAS are anticipated to drastically change the ways in which the energy system is maintained and operated.”
While market drivers have facilitated significant growth for UAS across critical energy infrastructure markets, major market forces are also suppressing growth in the short and long terms. These include regulatory hurdles such as beyond visual line-of-sight flights, cybersecurity and physical security concerns with the connected UAS platform, and technology limitations, such as limited battery life and flight efficiency.
The report, Unmanned Aerial Systems and Drones for Critical Energy Infrastructure, focuses on the drivers, barriers, and regional global trends aiding the adoption of UAS technologies in multiple industries. This report provides utility, O&G, mining, and UAS vendors with a study of the major markets globally, including specific regional developments and issues, in addition to technology trends. Technology segments included in this forecast are hardware, software and analytics, labor and services, and UAS as a service (UaaS). Energy industry adoption is forecast in the following industry segments: T&D lines, power plants, O&G well pads, transmission pipelines, refineries, and mines. All major global regions are included, and the forecast period extends through 2030. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Unmanned Aerial Systems and Drones for Critical Energy Infrastructure, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.