Drones Revolutionize Oil and Gas Industry, Predicted to Reach USD 44.60 Billion by 2030 & CAGR 39.1% forecast 2030

Drones for Oil and Gas Market Overview

Drones for Oil and Gas Market Size were valued at USD 6.84 Billion in 2021. The Drones for Oil and Gas industry are projected to grow from USD 10.25 Billion in 2022 to USD 44.60 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 39.1% during the forecast period (2022 - 2030).

The oil and gas industry prefers to use drones in oil and gas to get small details. These industries prefer it because of the very high resolution infrared cameras that provide accurate results.

Oil and gas drones capture detailed images of oil and gas operations on camera. Infrared cameras have thermal imaging and light detection and ranging (LIDAR) capabilities to help inspect or capture oil and gas infrastructure such as offshore platforms, pipelines, tailings jets, oil spills and damage, and rigs. With the help of drones, these captured images are sent to the analysis process and smart preventive measures are taken based on this analysis report. Here, automated unmanned aerial vehicles (UAVs) provide high-quality aerial data for all maintenance and inspection requirements. Here, gas-powered drones are powered entirely by engines. Drones are now being used by oil and gas operators, which is accelerating the growth of the market. This is due to technological improvements, the inclusion of artificial intelligence, methane gas detection and thermal imaging. Thanks to the progress of artificial intelligence, drones can now be operated without human intervention, because sensors integrated with artificial intelligence can now easily move inside enclosed structures and are not prone to collisions with walls. As a result, this application is likely to grow and support the growth of drones in the oil and gas market.

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Key Players

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

Segmentation

Market segmentation based on type includes hybrid and nano, fixed-wing, multi-rotor and single-rotor. In 2021, the multi-rotor segment will be in the hands of the majority.

Market segmentation on the basis of application includes inspection, security and emergency, surveying and surveying. In 2021, the surveying and mapping segment dominated the market. By region, the study provides market overviews of North America, Europe, Asia Pacific and Rest of the World. The North America region dominates the largest drones for petroleum products market share during the study period, due to the growth of oil and gas production activities and exploration investments in the region. In addition, this region contributes to the regional growth of drones in the oil and gas market due to the increasing use of drones in the oil and gas industry and increasing offshore drilling activities in the North American region. With significant market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments and collaborations with other organizations, market players are also taking various strategic steps to expand their presence. To grow and succeed in an increasingly competitive and growing market environment, drones in the oil and gas industry must provide affordable products.

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Regional Analysis

The study offers regional market insights encompassing North America, Europe, Asia-Pacific, and the Rest of the World. North America holds a dominant position in generating the largest share of the drones for the oil and gas market during the research period. This is attributed to the escalating production activities in the oil and gas sector in the region, coupled with increased investments in exploration. Furthermore, the growing utilization of drones in the oil and gas industry and the surge in offshore drilling activities further bolster the regional growth of drones for the oil and gas market in North America.

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