Market Research Future published a research report on “Global Drones for Oil and Gas Market Research Report – Global Forecast till 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2025.
Drones for Oil and Gas Market -Overview
Drones or UAVs are used in the oil & gas industry to overlook the maintenance and operations as well as prevent damage to equipment. Automated and gas-powered drones are two major types currently in operation by various oil & gas producers. Adoption of drones, early pilot studies, and commercial licenses for obtaining drones are the factors favoring the industry. The global drones for oil and gas market report by Market Research Future (MRFR) contains various drivers and challenges affecting the market for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and the huge need for remote monitoring has led to a recalculation of market size and growth trajectories for the assessment period.
Market Scope
The global Drones for Oil and Gas Market size is projected to reach USD 16.72 billion by 2025, It is likely to reach the estimated valuation at 35.24% CAGR over the forecast period.
The major factors driving the growth of the global drones for the oil and gas market include increasing investments in offshore exploration, production of oil and gas, construction of offshore pipeline infrastructure, and advances in drone technology. For instance, as per the World Pipelines Report of 2018, the governments in Europe are planning to invest approximately USD 8.75 billion for the construction of the Nord Stream gas pipeline for exporting gas from Russia to Germany under the Baltic Sea. Amendments in drone regulations would be a golden opportunity for the drones for the oil and gas market.
The shift towards digitization of processes in the utility and oil & gas industries and use of drones for pinpointing problems in the power supply can bode well for the market. Prevention of accidents and the deployment of drones for maintenance and servicing can culminate in cost savings. Drone service providers can explore new business models by capitalizing on the growth of the industry.
Drones for Oil and Gas Market @ https://www.marketwatch.com/press-release/drones-for-oil-and-gas-industry-2020-global-analysis-market-size-trends-business-growth-sales-revenue-segmentation-developments-future-plans-and-opportunity-assessment-by-2025-2020-08-20
Competition Outlook
ideaForge, Delair, Sky-Futures, Airborne Drones, Cyberhawk Innovations Limited, Aerodyne Group, Aerialtronics DV B.V., Insitu Pacific Pty Ltd, PrecisionHawk, Flyability, Terra Drone, Intel Corporation, Airobotics, and AeroVironment, Inc are key players of the global drones for oil and gas industry. New product launches are to be witnessed in the coming years as technological upgrades offer better advantages on the field. The M300 variant by DJI provides real-time feeds of sites allowing teams to make quick decisions without interfering with the process.
Market Breakdown:
The global Drones for Oil and Gas market is segmented into the single rotor, multi-rotor, fixed-wing, and other types based on sectors.
The global Drones for Oil and Gas market are categorized into inspection, surveying, security, mapping, and others based on its applications.
Regional Classification
Drones in oil and gas are getting a healthy response from around the world due to demands for better and technologically advanced devices and expanding the oil and gas industry. North America, Asia Pacific, Europe, and the rest of the world are the major regions observed for the global Drones for Oil and Gas market. In the current era, North America will be in the lead due to the rising investments in the oil & gas sector, rising demands discovery for off-shore sources, rise in demands for advanced technologies, increasing research & development activities, and other factors.
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Genset Market Segmentation
- Genset Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
- SWOT Analysis
- Regional Genset Market Share
- Country Genset Market Share
- Revenue and Sales Forecast
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