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The Offshore Drone Inspection Market Is Estimated To Be Valued At US$ 1,456.8 Million By 2033

<strong>The Offshore Drone Inspection Market Is Estimated To Be Valued At US$ 1,456.8 Million By 2033</strong>

The market for offshore drone inspection is anticipated to reach US$ 421.6 million in 2023 and grow at a healthy 13% CAGR between 2023 and 2033. The various advantages offered by advanced drones (stability, low deployment costs, improved data quality, superior navigation algorithms, etc.) have increased their use in offshore inspection and maintenance services.

The use of these advanced unmanned vehicles is increasing in the oil and gas industry and the defence sector. This has encouraged investment in this sector and strengthened offshore inspection and maintenance services. The increasing demand for energy has led to exploration activities in a variety of deep-sea and hostile environments using innovative technologies developed in recent years. Areas that were humanly impossible to explore are now delved into with the help of drones.

Get To Know More: https://www.factmr.com/report/offshore-drone-inspection-market

For example, in August 2021, multinational energy company Equinor ASA completed the world’s first drone logistics operation to an offshore facility. As a result, the offshore drone inspection market is expected to grow significantly during the forecast period.

Key Takeaways from Market Study

  • The global offshore drone inspection market is projected to reach US$1,456.8 million by 2033.
  • The market witnessed 9.8% CAGR between 2018 and 2022.
  • Filming & Photography in application segment dominates the market with 24.4% market share in 2023.
  • Under drone type, rotary wing offshore drone inspection dominates the market and are valued at US$ 226.4 million in 2023.
  • Based on region, demand for offshore drone inspection expected to increase at CAGR of 13.5% in East Asia during the forecast period.

Improvement in the Surveillance Boosts the Offshore Drone Inspection Market,” says a Fact.MR analyst.

Market Development

Traditional inspection methods can be replaced with advance technology, providing more data with less risk and less downtime. Offshore operators will continue to use other assistive technologies such as AI, wireless networks, analytics, robotics, IoT and cloud systems to access and analyse data to improve data-driven decision making. Unmanned Aerial Vehicles (UAVs) have been highly efficient and lucrative technology for conducting surveillance activities in offshore environments across a variety of industries. Due to the great advantages these devices offer, governments and companies are using them to perform a variety of functions such as collection of data for inspection, security and surveillance. This increases the demand for the offshore drone inspection market.