Technological development in bridge inspection service and Cost & time efficiency offered from drone bridge inspection service will escalate the market growth.
Rockville, March 23, 2023 (GLOBE NEWSWIRE) — The global drone bridge inspection market stands at a valuation of US$ 143.3 million in 2023 and is forecasted to expand at a CAGR of 21.4% to reach US$ 996.0 million by the end of 2033.
The drone bridge inspection services are projected to gain substantial demand with the improved cost-saving & workers’ safety offered by drones and the growing development of bridges worldwide. In comparison with the traditional method of bridge inspection, drone inspection is quick, cost-efficient, and substantially takes care of workers’ safety.
Excessive expenses for inspection gears, ropes, ladders, and others could be eliminated with the successive utility of drones, and risks like workers falling from a bridge while inspecting and others could also be prevented with the utility of drones. Owing to such reason, the market is expected to rise with a healthy CAGR of 21.4% in the forthcoming period.
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Another factor positively helping in market development includes technological development where Artificial intelligence, 3D mapping, and other technology integrated with drones to inspect the bridge issues efficiently and prepare a report for comparison and future development of bridges.
As comparison to the conventional method of checking bridges, drones offer cost-effective solutions. Engineers can use drones to inspect the most challenging parts of the bridge from a distance without stopping traffic. In contrast, specialised and expensive equipment, ladders, and lifts are needed for both over-the-side and under-the-bridge inspection in traditional bridge inspection.
Key Takeaways from Market Study
- During historic period (2018-2022), the market has grown with a CAGR of 9.3%
- Among type segment, Road Bridge holds leading share with 71.0% during 2022.
- Europe and North America both accounts for 60% of share in global drone bridge inspection service market.
- China is expected to grow with highest CAGR of 24.2% during 2023-2033.
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The market of drone bridge inspection services is highly competitive & challenging for service providers. Bridge inspection is one of the major concerns & responsibilities of the government, therefore approvals regarding offering these services seek government permission, and companies are required to comply with various regulations. However, government agencies are highly benefited from increasing the utility of drones for bridge inspection, resulting in further development of services in the forthcoming period. For instance,
- In October 2021, The New York State Thruway Authority has announced to introduction pilot program in partnership with New York-based non-profit NUAIR using drone technology. The initiative is focused on inspecting bridges, pavements, and others with the help of drones with increased efficiency & safety.
- In August 2022, an agency of the New South Wales Government called Transport for NSW has taken the responsibility of inspecting and maintaining Australia’s iconic Sydney Harbour Bridge and other 6,000 bridges in the States.
Key Companies Profiled
- ABJ Drones
- Aerial Robotix
- AERIUM Analytics
- Aeroview Services
- Astral Aerial Solutions
- Avian UAS
- Applied Technical Services, LLC
- CANARD Drones
- Drontek Aerial Solution
- DDC Smart Inspection
- IR Aerials
- Tarillo Vue Aerial Photo
The market is highly fragmented with the presence of various market players in the industry both small and large ones. The market is highly competitive with the entrance of new market players with the market increasing popularity of drones in various industry verticals. These market players are assumed to take various initiatives toward enhancing their market share and service offering. However, strict regulations required to conduct bridge inspections are creating challenges to market development.
Segmentation of the Drone Bridge Inspection Market
- By Type:
- Road Bridge
- Railway Bridge
- By Region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global drone bridge inspection market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (Road Bridge and Railway Bridge) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Key Questions Covered in the Drone Bridge Inspection Services Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Drone Bridge Inspection Services sales grow until 2033?
- Which are the factors hampering the Drone Bridge Inspection Services demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Drone Bridge Inspection Services Market during the forecast period?
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