For the utility drone market, BVLOS flights pose vast opportunities. Given the global pressure on the FAA by public utility firms to encourage or at least ease out BVLOS regulations, there are strong chances that more countries will encourage BVLOS flights in the coming years. Many countries have already begun to upgrade their BVLOS flight regulatory systems, enabling them to use the full capacity of utility drones.

Countries such as Australia, the Czech Republic, Denmark, the United Kingdom, the USA, Sri Lanka and Brazil have started, with prior permission, testing of BVLOS flights. In Denmark, "BVLOS flights can only be carried out with prior approval from the Danish Transportation Authority", as cited by the Danish Transportation Authority. In Canada, "Basic weather conditions for BVLOS operations are decided on a case-by - case basis." The factor helped to permit a secure departure within the minimum environmental conditions being sufficient for the consumers.

Companies around the world have been actively focusing on one of the key problems facing the efficiency of drone batteries. Provided that drones can only be run for a few minutes, their designers are seeking to improvise on different parameters in order to accommodate longer flight durations, thereby further lowering costs. Battery makers, on the other hand, have also been searching for creative ways to increase the battery life along with the total drone flight time.

Type Segment

Based on the type, the market is segmented into multi-rotor and fixed wing. The power segment has the largest share in the market in 2019 and the market is forecasted to grow with the significant rate of above 30% CAGR over the forecast period. The growth of the electricity segment is mainly driven by rising demand for electricity along with the population growth. In the power sector, the advantages of utility drones include lowering operational and repair costs; increasing worker protection, provided their ability to control drones in potentially unsafe areas; using little or no fuel; and having a marginal effect on the atmosphere. These factors are driving the growth of the power segment of the market for utility drones.

Services Segment

In terms of the end user segment, the market is segmented into end-to-end solution and point solution. In 2019, the end-to-end solution segment has the largest share in the market in 2019 and the market is forecasted to grow with the significant rate of above 32% CAGR over the forecast period. Because of the abundance of expertise needed to collect detailed details, end-to - end systems are more commonly embraced by service providers across the globe. The use of end-to - end solutions helps utilities to avoid problems such as drone technology updates and associated data processing. The main factors driving the end-to - end solution segment during the forecast period are all these.

The North America region has the largest share in market with a CAGR of more than 35.2% in 2019 and is anticipated to continue with the same position during the forecast years 2018-2028. In 2018, the US is projected to hold the majority share of North America 's demand for utility drones. The EIA 's Annual Energy Forecast 2016 suggested that North America 's share of energy production from renewable and nuclear sources will rise by 45% by 2025. Growing investment in power infrastructure, growing electricity use and, consequently, increasing emphasis on the generation of renewable energy are main factors driving the region's growth in the market for utility drones.

Asia Pacific region is anticipated to provide a high CAGR of over 39% during the forecast period. The Asia-Pacific region, having a dominance for a number of developing economies such as India, South Korea, China, is also expected to give suppliers a number of opportunities from the growth of utility drones market. Rising private financing and investments in power infrastructure growth, the establishment of long transmission lines and the implementation of green energy sources are the key factors likely to have a positive effect on the region's demand for utility drones.

The major players of the global utility drones market are Cyberhawk, Measure, PrecisionHawk, Delair, and HEMAV. Moreover, the market comprises several other prominent players in the utility drones market as DJI, Asset Drone, Aerodyne Group, YUNEEC, ULC Robotics, Terra Drone and ABJ Drones. The utility drones market consists of top, medium level and a number of domestic players in the global market. In addition to this, the well-established players in the industry have made various strategies and research & developments to compete with other players in the regional and global market.