Annual Revenue for Drone and Robotics Technologies for Transmission and Distribution Is Expected to Reach $4.1 Billion by 2024, According to Navigant Research
By Business Wire News
A new report from Navigant Research examines the market for drone and robotics technologies for transmission and distribution (DRTD), providing an analysis of market issues and global forecasts for revenue, segmented by region and technology, through 2024.
Unmanned aerial vehicles (UAVs, or drones) and other robotic technologies are rapidly finding purpose in a variety of commercial applications, including transmission and distribution (T&D). Operators and utilities around the world are now looking to these solutions to reduce costs, improve safety, and increase reliability and response times for their systems. Click to tweet: According to a new report from Navigant Research, global annual DRTD revenue is expected to grow from $131.7 million in 2015 to $4.1 billion in 2024.
“For many years, T&D utilities in all regions of the world have been performing line inspections and maintenance, storm damage assessments, and vegetation management using traditional line crews and helicopters,” says James McCray, senior research analyst with Navigant Research. “The use of drones and robotics for T&D inspection and maintenance not only represents a rapidly growing revenue stream for technology and outsourced services providers, but it could also help keep crews safer.”
Working on high- and medium-voltage T&D systems comes with significant hazard, and the line worker’s job is considered among the top 10 most dangerous occupations in the United States, according to the report. Though the DRTD market is still in its early stages, with new developments and product releases occurring daily, the value proposition for T&D utilities to complete at least a portion of inspections, maintenance, and damage assessments via UAVs and robotics is strong.
The report, Drones and Robotics for Utility Transmission and Distribution, analyzes the global market for DRTD solutions, with a focus on five categories: multi-rotor UAVs, fixed wing UAVs, ground and line robotics, integration and analytics solutions, and inspection services. The study also provides an analysis of the market issues, including drivers and barriers and regulatory factors, associated with DRTD solutions. Global market forecasts for revenue, segmented by technology and region, extend through 2024. The report also examines the key technologies related to UAVs and robotics, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Drones and Robotics for Utility Transmission and Distribution, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.