Inspection Drone for Confined Space Market Dynamics and Trends by 2027

Name: Inspection Drone for Confined Space Market Growth by 2027
Creator: The Insight Partners
License: https://www.theinsightpartners.com/privacy-policy

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

Inspection Drone for Confined Space Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drone Type (Quadrotor Drone and Multi Rotor Drone) and Application (Oil & Gas, Power Generation, Mining, Chemicals, Marine Vessels, and Others)

Report Date : Sep 2020
Report Code : TIPRE00013620

Category : Aerospace and Defense
Status : Published

Available Report Formats :
No. of Pages : 144

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The inspection drone for confined spacemarket was valued at US$ 795.12 million in 2019 and is projected to reach US$ 1,936.32 million by 2027; it is expected to grow at a CAGR of 12.1% during the forecast period 2020 and 2027.

Inspection of confined areas is expensive, time-consuming, and sometimes involves danger to human lives; thus, the use of drones to inspect confined areas is gaining immense traction in diverse applications. Furthermore, these drones offer other benefits to users by adding extra features such as the installation of IR cameras, which provide advanced visual and data analytics capability,allowing the evaluation of actual asset status and maintenance needs. Drones are anticipated to become prominent in various inspection applications that meet the 4D criteria: Dirty, Dust, Distant, and Dull. With the rising cost pressure among industrial service companies and asset operators, inspection leveraging drones optimize time and save cost, enhance quality and performance. With these benefits, inspection drones for confined spaces help companies secure a competitive edge.

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Inspection Drone for Confined Space Market: Strategic Insights

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Impact of COVID-19 Pandemic on Inspection Drone for Confined Space Market

The COVID-19 pandemic has notably disrupted supply chain activities and plummetedthe demand for inspection drones across several industries. Factors such as restrictions in import and export of goods, and challenges in transportation owing to the nationwide lockdown across several countries, along with temporary discontinuation of production and manufacturing activities, have collectively declined the demand for inspection drones. However, the overall drone industry is witnessing growth opportunities during the past few yearsin applications such as surveillance, monitoring, delivery, and disinfection activities. Moreover, the Inspection Drone for Confined Space market is expected to gain momentum during the coming months as various governments are considering steps and reforms to revive the overall economic activities.

Inspection Drone for Confined Space Market Insights

Reduced Maintenance Costs

Building scaffolding to conduct manual inspection is an expensive process; also, manual inspections often fail tofind the exact problem that requires fixing. By using dronesfor inspection, companies can reduce the actual maintenance costs by up to 80–90%. Also, drones are equipped with sensors to perform tasks other than just visual inspections. For instance, an agricultural drone for an indoor farming application is equipped with multispectral sensors, allowing farmers record crop images in distinct spectral bands. Further, the installation ofa thermal camera in drones for HVAC inspections helps identify heat leak in a building.

Drone Type-Based MarketInsights

Inspection isa key application ofdrones; however, the selection of drone differs from industry to industry, depending on the complexity of the task. Based on drone type, the inspection drone for confined space market is furtherbifurcatedinto quadrotor drone and multirotor drones. Quadrotor drones, commonly known as quadcopters, are capable of flying in any direction;also, they smoothly hover in any specific place. Although the control system between quadrotor and helicopters considerably varydue to the flying dynamics, quadrotor can perform vertical take-off and landings similar to helicopters. A quadrotor is equipped with four rotor arms and are available in various sizes; itcan also carry smaller payloads, e.g., a camera. They are widely used in inspection operations across energy installations fields such as oil refineries, construction sites, and mining.

Application-BasedMarket Insights

Inspection tasks in confined spaces in diverse industries, such as oil & gas, construction, and marine, can be difficult,time-consuming, dangerous, and expensive. Further, confined spaces can be riskyfor humans. Also, limited accessibility and visibility may restrict the inspector’s ability to perform an effective and comprehensive inspection of confined spaces. Companies across the world are leveraging robots, including drones, to safely inspect various confined spaces in their facilities, including tanks, boilers, pipes, tunnels, and chimneys. Drones help reducing time and cost of equipment and labor, along with lowering risk factors to human workers.

The players in the inspection drone for confined spacemarket focus on strategies such as market initiatives, acquisitions, and product launchesto maintain their positions in the market. A few developmentsby key players are listed below:

In 2020, MFE Enterprises, Inc. finalized an agreement to expand the US territory under which it would sell Flyability’s drones, the Elios and the Elios 2. The agreement providesan exclusive right to MFE Enterprises to sell Flyability’s collision-tolerant dronesfor inspectingand monitoringin the11US states.

In 2019, Digital Aerolus launched a new UAV Aertos 130IR for mining, infrastructure, and power plant inspections. The drone uses AI and patented autonomous technology to fly without needing GPS or external sensors.

Inspection Drone for Confined Space Market Regional Insights

The regional trends and factors influencing the Inspection Drone for Confined Space Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Inspection Drone for Confined Space Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

inspection-drone-for-confined-spaces-market-global-geography

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Inspection Drone for Confined Space Market Report Scope

Report Attribute	Details
Market size in 2019	US$ 795.12 Million
Market Size by 2027	US$ 1,936.32 Million
Global CAGR (2019 - 2027)	12.1%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Drone Type Quadrotor Drone and Multi Rotor Drone By Application Oil & Gas Power Generation Mining Chemicals Marine Vessels
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Digital Aerolus Drone Volt Flyability SA Imaze Tech Ltd. Interactive Aerial, Inc. Multinov Performance Rotors Pte. Ltd. Scout Drone Inspection AS Skypersonic Inc

Inspection Drone for Confined Space Market Players Density: Understanding Its Impact on Business Dynamics

The Inspection Drone for Confined Space Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Inspection Drone for Confined Space Market are:

Digital Aerolus
Drone Volt
Flyability SA
Imaze Tech Ltd.
Interactive Aerial, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

inspection-drone-for-confined-spaces-market-cagr

Get the Inspection Drone for Confined Space Market top key players overview

Inspection Drone for Confined Space Market – by Type

Quadrotor Drone
Multi Rotor Drone

Inspection Drone for Confined Space Market– by Application

Oil and Gas
Power Generation
Mining
Chemicals
Marine Vessels
Others

Inspection Drone for Confined Space Market– by Geography

North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM

Inspection Drone for Confined Space Market –CompanyProfiles

Digital Aerolus
Drone Volt
Flyability SA
Imaze Tech Ltd.
Interactive Aerial, Inc.
Multinov
Performance Rotors Pte. Ltd.
Scout Drone Inspection AS
Skypersonic Inc
Terra Drone Corp.

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Inspection Drone for Confined Space Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Inspection Drone for Confined Space Market Report Snapshots

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