The maintenance of infrastructure such as oil pipes, cables and railways is very dangerous. According to the statistics of the U.S. Centers for Disease Control and Prevention (DCD), the death rate of employees in the oil and gas drilling industry increased by 27.6% from 2003 to 2013, taking 1189 lives, half of which are in oil well companies. In order to reduce the risk, UAV is a more ideal alternative.

It is reported that precision hawk, a UAV manufacturer, pointed out that customers from the oil well and natural gas industry accounted for 5% of their business three years ago, but now the proportion has reached 70%. In addition to better ensuring personnel safety, another advantage is that UAV costs more than helicopter, so it can leave the shift more frequently and fly closer to the operation site.

Despite the challenges faced by UAV suppliers, such as the efforts to transfer from the consumer market to commercial applications, trade disputes between Chinese mainland and the United States, lack of unified traffic management, and the past failures of 3D Robotics and Airware, ABI Research still sees the growth of small unmanned vehicle systems (sUAS) market.

IDC, a market research agency, estimates that the highest commercial expenditure of various industries on UAVs in 2020 will be $1.9 billion for public utilities, followed by $1.4 billion for construction industry, and $1.2 billion for discrete manufacturing and resource enterprise respectively.

Although COVID-19 (novel coronavirus pneumonia) did cause impact, Stratview Research believes that the temporary decline in demand will not affect long-term business growth. Markets and Markets further estimates that the UAV service market is expected to grow from $44 billion in 2019 to $63 billion 600 million in 2025.

As the Federal Aviation Administration (FAA) continues to improve its beyond visual line of sight (bvlos) operation policy, automated UAV services will become more and more competitive. Precisionhawk is optimistic that not only the UAV itself, but even the drone data-as-a-service also has great growth potential in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *