The global renewable drones market size was US$ 51 million in 2021. The global renewable drones market is forecast to grow to US$ 152 million by 2030 by growing at a compound annual growth rate (CAGR) of 21.5% during the forecast period from 2022 to 2030.
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The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
The global renewable drones market is primarily driven by the growing adoption of drones to perform various activities like inspections. Furthermore, growing environmental issues and rising demand for sustainable solutions will also contribute to the growth of the global renewable drones market during the study period.
The growing range of technical developments and international agreements will also contribute to the growth of the global renewable drones market. Further, the rising number of construction activities related to solar and wind farms will also benefit the renewable drones market during the study period.
The benefits of drones, such as reduced cost of inspection operations, will benefit the renewable drones market. Furthermore, drones also reduce the maintenance time and are efficient for UAV services, line-of-sight applications, inspection or wind turbine inspection, ocean-going ship surveillance, offshore platform, refinery inspection, etc. All of these factors will escalate the growth of the renewable drones market.
Strict regulations may restrict the use of drone operations, which will ultimately hamper the market growth.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the demand for renewable drones market reduced. Moreover, the manufacturing units witnessed various challenges due to the unavailability of raw materials and workforce. Thus, it impeded the growth of the renewable drones market. Moreover, investments in the sector restricted during the pandemic, which hampered the industry growth.
Regional Analysis
The Asia-Pacific renewable drones market is forecast to emerge as the largest market, owing to the growing urbanization, industrialization, and population growth. Furthermore, rapidly growing economies and rising electricity demands will also contribute to the growth of the Asia-Pacific renewable drones market during the study period. Growing investments in the energy sector in countries like China and India will benefit the renewable drones market. Further, declining prices of solar panels and growing initiatives by governments to enable a pollution-free environment will offer ample growth opportunities for the renewable drones market.
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Competitors in the Market
? DJI Enterprise
? Terra Drone
? DroneDeploy
? Parrot Group
? ABJ Drones
? DRONE VOLT Group
? Sitemark
? Skylark Drones
? PrecisionXYZ
? Flyability
? FORCE Technology
? Droneflight
? Above Surveying
? Siemens
? SPH Engineering
? Raptor Maps
? SkySpecs
? NanoNet Technologies
? GarudaUAV
? ARBOREA INTELLBIRD
? AirProbe
? Helvetic
? ideaForge
? Cyberhawk
? Balmore Group
? Aerospec Technologies
? Other Prominent Players
Market Segmentation
The global renewable drones market segmentation focuses on Type, Application, End-User, and Region.
By Type:
? Multirotor
? Fixed-wing
By Application:
? Telecommunications
? Automotive
? Industrial
? Medical
? Military, Defense& Aerospace
? Others
By End-user:
? Solar
o Solar PV
o Solar CSP
? Wind
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By Regional Outlook
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
How are the key players in the market assessed?
?This report provides a comprehensive analysis of leading competitors in the market.
?The report includes information about the key vendors in the market.
?The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
?The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
?A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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