Wind Turbine Inspection Drones Market is Estimated to Witness High Growth Owing to Opportunity of Reducing Overall Maintenance Cost
Wind Turbine Inspection Drones Market |
Wind turbine inspection drones are unmanned aerial vehicles used to inspect wind turbines. They help detect structural defects at an early stage by carrying high-resolution cameras. The drones capture images and footage of wind turbines from different angles which are then analyzed to detect cracks, corrosion or any other defects. This helps reduce unplanned downtime and increase lifespan of wind turbines by enabling condition-based and predictive maintenance.
The
global wind turbine inspection drones market is estimated to be valued at US$
587.5 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast
period 2023 to 2030, as highlighted in a new report published by Coherent
Market Insights.
Reducing overall maintenance cost represents a key market opportunity for wind
turbine inspection drones. Regular inspection and predictive maintenance
enabled by drones can significantly reduce repair and replacement costs for
wind farm owners by detecting defects early. Unlike conventional manual
inspection methods, drones provide a fast, cost-effective and high-resolution
inspection solution. They minimize downtime of turbines by speeding up the
inspection process. Early detection of defects through drone inspections also
helps wind farm owners perform maintenance during off-peak production hours and
plan repairs, reducing revenue losses. With growing number of aging wind
turbines globally, reducing repair and maintenance costs through drones will be
important for wind farm operators to boost profitability. This growing need to
lower operational expenditure presents an opportunity for increased adoption of
wind turbine inspection drones globally over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirement for manufacturing drones allows
new players to enter the market easily. However, obtaining required regulatory
approvals and establishing credibility takes time.
Bargaining power of buyers: Wind turbine operators have reasonable bargaining
power due to the presence of various vendors providing inspection drones.
However, quality and safety concerns keep bargaining power in check.
Bargaining power of suppliers: Drone and component manufacturers have moderate
bargaining power due to consolidated supply base and importance of
technological expertise. However, increasing competition leads to lower prices.
Threat of new substitutes: Traditionally mounted static cameras and manned
aircrafts are being substituted by drones. However, drones offer unmatched ease
of mobility, endurance and cost advantage.
Competitive rivalry: The market comprises global as well as regional players.
Intense competition on pricing and technological innovations is anticipated.
SWOT Analysis
Strengths: Non-intrusive inspections using drone reduce downtime and ensure
staff safety. Drone inspections also enable detecting difficult to reach
defects.
Weaknesses: Regulatory approvals for BVLOS drone operations slow down
widespread commercial adoption. Limited flight duration of drones also impacts
large wind farm inspection.
Opportunities: Increasing investments in renewable energy sector will drive
demand for periodic inspection and maintenance services. Emergence of 5G may
enable beyond visual line of sight drone operations.
Threats: Technological disruptions such as AI-based automated static equipment
and Hyper-satellite may challenge the demand for drones. Inclement weather
conditions pose significant challenge for drone operations.
Key Takeaways
Global
Wind Turbine Inspection Drones Market Size is expected to witness high
growth. In 2024, the market size is estimated to reach US$ 587.5 Mn, rising at a CAGR
of 7.9% during the forecast period of 2023 to 2030.
Regional analysis: Western Europe dominates currently due to strong renewable
energy policies and aging wind farms requiring frequent maintenance. During the
forecast period, Asia Pacific is anticipated to grow at the fastest pace led by
rising investments in renewable sector led by China, India and other South
Asian countries.
Key players operating in the Wind Turbine Inspection Drones Market are Groupe
Danone, Fonterra Co-operative Group Ltd., Proliant Inc., Koninklijke DSM N.V.,
E.I. DuPont De Nemours and Company, Arla Foods amba, Cargill Inc., Groupe
Lactalis S.A., APS BioGroup, and Nestle S.A. The market is competitive with
focus on developing new drone models and sensors for improved inspections.
Product launches and partnerships remain key strategies adopted by major players.
Get More Insights on this Topic- https://www.dailyprbulletin.com/wind-turbine-inspection-drones-market-growth-insights-and-analysis/
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