Global Construction Drone Market is Estimated to Witness High Growth, Owing to Increased Adoption and Government Initiatives
Global construction drone market is estimated to be valued at US$ 16.7 Mn in 2024, exhibiting a CAGR of 14.4% over the forecast period (2024-2031). The market growth is driven by factors such as increased adoption of drones for site surveying, project monitoring, and documentation due to their ability to capture aerial images and videos efficiently and accurately. Furthermore, favorable government initiatives and regulations in developed regions promoting the adoption of drone technology for construction applications can drive the market growth during the forecast period.
Market Dynamics
Growing construction activities: Rising infrastructure development projects globally due to rapid urbanization and industrialization can boost demand for construction drones that can assist in project management more efficiently. Drones are increasingly helping contractors and construction managers to oversee project progress, spot issues, and ensure work is done as planned without any delays or cost overruns.
Increased efficiency and productivity: Construction drones provide birds-eye view of project sites and structures, which conventional methods are unable to match. This has helped achieve greater efficiency by reducing inspection time and costs while improving productivity, automating processes such as site mapping, 3D modelling, and progress tracking. Real-time data collection has optimized planning and decision making at each stage of construction projects.
Increasing Usage of Drones for Construction Site Monitoring
Construction drones are increasingly being used for monitoring construction sites as these provide bird's eye view of the site, which helps in overseeing work progress, identifying issues, and ensuring safety and security measures are being followed. Drones equipped with cameras can monitor large sites and track changes over time to check work as per plans. This prompt more construction companies to adopt drone technology for effective site monitoring and management.https://www.coherentmarketinsights.com/market-insight/construction-drone-market-4536
Lack of Regulatory Frameworks in Many Countries
While drone usage is growing in construction sector, several countries are yet to develop proper regulations around their commercial operation. The absence of clear guidelines poses operational hurdles and legal risks for construction companies interested in deploying drones. This regulatory uncertainty can hamper broader uptake of construction drones.
Emerging Application in Infrastructure Inspection
Drones are used to inspect infrastructure like bridges, power lines, roads, and others to identify defects, cracks, or other issues from aerial perspectives. It provides an opportunity for growth in infrastructure construction and maintenance leveraging drone technology.
Link - https://www.coherentmarketinsights.com/market-insight/construction-drone-market-4536
Key Developments
- In June 2024, Datumate and BEAD, LLC's partnership is set to transform aerial surveying for engineering firms, combining Datumate's analytical expertise with BEAD's operational excellence to revolutionize surveying methods. This collaboration allows construction and engineering companies to outsource surveying tasks while maintaining high data quality and detail, essential for complex projects.
- In April 2024, Virtual Surveyor extended its popular smart drone surveying software with an exciting new package of planimetric survey capabilities. Amongst numerous performance enhancements, Virtual Surveyor version 9.5 will enable users to check and compile 2D features quickly and easily, directly from orthophotos captured by drones, and integrate them into the 3D topographic model developed using the same data set.
Key Players
Hanwha Defence, Raytheon Company, Aselsan AS, Israel Aerospace Industries Ltd, The Boeing Company, Rheinmetall AG, Northrop Grumman Corporation, Thales Group, Kongsberg Gruppen, Lockheed Martin Corporation, Leonardo SpA, and SAAB AB
