Drone Inspection and Monitoring Market Key Players Analysis 2031
The Drone Inspection and Monitoring Market is expected to register a CAGR of 14.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Solution (Software, Services, Platform, Infrastructure). The report further presents analysis based on the Type (Fixed Wing, Multirotor, Hybrid). The report further presents analysis based on the Application (Construction and Infrastructure, Agriculture, Utilities, Oil and Gas, Mining, Others). The report further presents analysis based on the Mode of Operation (Remotely Piloted, Optionally Piloted, Fully Autonomous). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Drone Inspection and Monitoring Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Drone Inspection and Monitoring Market Segmentation
Solution- Software
- Services
- Platform
- Infrastructure
- Fixed Wing
- Multirotor
- Hybrid
- Construction and Infrastructure
- Agriculture
- Utilities
- Oil and Gas
- Mining
- Others
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
Strategic Insights
Drone Inspection and Monitoring Market Growth Drivers- Increased Demand for Operational Efficiency in Industrial Inspections: Drones offer a highly efficient and cost-effective solution for industrial inspections across sectors like oil & gas, energy, construction, and utilities. Traditional inspection methods, which often require scaffolding or manual labor, are time-consuming, dangerous, and costly. Drones, equipped with advanced sensors, cameras, and thermal imaging systems, can perform inspections in less time, cover hard-to-reach areas, and collect high-quality data. As industries seek to improve operational efficiency and reduce risks, the demand for drone inspection services is accelerating, driving market growth.
- Technological Advancements in Drone Capabilities: Recent advancements in drone technology, including improved battery life, enhanced sensors (such as LiDAR, thermal, and multispectral cameras), and AI-powered data analytics, are significantly boosting the capabilities of drones for inspection and monitoring tasks. Drones can now gather more accurate and comprehensive data, enabling better decision-making and predictive maintenance. As drone technology continues to improve, industries are increasingly adopting drones for inspection and monitoring applications, fueling the growth of the market.
- Adoption of Drones for Infrastructure and Asset Monitoring: Drones are increasingly being adopted for monitoring and inspecting critical infrastructure such as bridges, power lines, pipelines, and communication towers. This trend is driven by the need for continuous monitoring to ensure safety, detect faults early, and optimize maintenance schedules. Drones are highly effective for capturing high-resolution images and videos, performing thermal scans, and gathering data on infrastructure conditions. With growing awareness of the benefits, industries are expanding the use of drones for long-term asset monitoring, accelerating market demand.
- Regulatory Evolution and Standardization: As the drone inspection market matures, regulatory frameworks are evolving to ensure safe and efficient operations. Governments worldwide are introducing policies and guidelines that allow drones to operate in more complex environments, including urban areas, and beyond visual line of sight (BVLOS) operations. For instance, the FAA’s efforts to streamline drone regulations in the U.S. are opening up new opportunities for commercial drone operations. These evolving regulations are reducing barriers to entry, encouraging wider adoption of drone inspection services, and driving market growth.
- Expansion of Drone Inspections in Renewable Energy Sectors: The renewable energy sector, particularly in solar and wind energy, is rapidly adopting drones for inspection and monitoring purposes. Drones can quickly assess the condition of solar panels, wind turbines, and other infrastructure without interrupting energy production. They are used to inspect turbine blades, detect defects, and monitor the efficiency of energy production systems. As the renewable energy market grows globally, there is an increasing demand for drone-based inspections, providing significant opportunities for businesses offering drone services tailored to this sector.
- Integration of AI and Machine Learning for Predictive Maintenance: The integration of artificial intelligence (AI) and machine learning (ML) into drone inspection systems is creating opportunities for advanced predictive maintenance. Drones equipped with AI-powered analytics can identify anomalies in infrastructure or machinery and predict when maintenance is required before a failure occurs. This shift toward predictive maintenance can help reduce downtime, optimize resource allocation, and lower operational costs. As industries across sectors recognize the benefits of proactive maintenance, the demand for drones integrated with AI and ML capabilities is expected to surge, presenting a significant growth opportunity.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Drone Inspection and Monitoring Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Drone Inspection and Monitoring Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Drone Inspection and Monitoring Market is estimated to witness a CAGR of 14.4% from 2023 to 2031
The major factors driving the Drone Inspection and Monitoring Market are: Increase in Adoption of Drones in Various Industries and Technological Advancements
The Rise in Adoption of Drones and Regulatory Developments is the key future trend of the Drone Inspection and Monitoring Market
The leading players operating in the Drone Inspection and Monitoring Market include DJI, Parrot Drones, PrecisionHawk, Microdrones, Yamaha Motor Corp., American Robotics, Aerovironment Inc., Trimble Inc., Israel Aerospace Industries, Ageagle Aerial Systems Inc.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Drone Inspection And Monitoring Market - By Solution
1.3.2 Drone Inspection And Monitoring Market - By Type
1.3.3 Drone Inspection And Monitoring Market - By Application
1.3.4 Drone Inspection And Monitoring Market - By Mode of Operation
1.3.5 Drone Inspection And Monitoring Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DRONE INSPECTION AND MONITORING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. DRONE INSPECTION AND MONITORING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DRONE INSPECTION AND MONITORING MARKET - GLOBAL MARKET ANALYSIS
6.1. DRONE INSPECTION AND MONITORING - GLOBAL MARKET OVERVIEW
6.2. DRONE INSPECTION AND MONITORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DRONE INSPECTION AND MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - SOLUTION
7.1. OVERVIEW
7.2. SOLUTION MARKET FORECASTS AND ANALYSIS
7.3. SOFTWARE
7.3.1. Overview
7.3.2. Software Market Forecast and Analysis
7.4. SERVICES
7.4.1. Overview
7.4.2. Services Market Forecast and Analysis
7.5. PLATFORM
7.5.1. Overview
7.5.2. Platform Market Forecast and Analysis
7.6. INFRASTRUCTURE
7.6.1. Overview
7.6.2. Infrastructure Market Forecast and Analysis
8. DRONE INSPECTION AND MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. FIXED WING
8.3.1. Overview
8.3.2. Fixed Wing Market Forecast and Analysis
8.4. MULTIROTOR
8.4.1. Overview
8.4.2. Multirotor Market Forecast and Analysis
8.5. HYBRID
8.5.1. Overview
8.5.2. Hybrid Market Forecast and Analysis
9. DRONE INSPECTION AND MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CONSTRUCTION AND INFRASTRUCTURE
9.3.1. Overview
9.3.2. Construction and Infrastructure Market Forecast and Analysis
9.4. AGRICULTURE
9.4.1. Overview
9.4.2. Agriculture Market Forecast and Analysis
9.5. UTILITIES
9.5.1. Overview
9.5.2. Utilities Market Forecast and Analysis
9.6. OIL AND GAS
9.6.1. Overview
9.6.2. Oil and Gas Market Forecast and Analysis
9.7. MINING
9.7.1. Overview
9.7.2. Mining Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. DRONE INSPECTION AND MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF OPERATION
10.1. OVERVIEW
10.2. MODE OF OPERATION MARKET FORECASTS AND ANALYSIS
10.3. REMOTELY PILOTED
10.3.1. Overview
10.3.2. Remotely Piloted Market Forecast and Analysis
10.4. OPTIONALLY PILOTED
10.4.1. Overview
10.4.2. Optionally Piloted Market Forecast and Analysis
10.5. FULLY AUTONOMOUS
10.5.1. Overview
10.5.2. Fully Autonomous Market Forecast and Analysis
11. DRONE INSPECTION AND MONITORING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Drone Inspection And Monitoring Market Overview
11.1.2 North America Drone Inspection And Monitoring Market Forecasts and Analysis
11.1.3 North America Drone Inspection And Monitoring Market Forecasts and Analysis - By Solution
11.1.4 North America Drone Inspection And Monitoring Market Forecasts and Analysis - By Type
11.1.5 North America Drone Inspection And Monitoring Market Forecasts and Analysis - By Application
11.1.6 North America Drone Inspection And Monitoring Market Forecasts and Analysis - By Mode of Operation
11.1.7 North America Drone Inspection And Monitoring Market Forecasts and Analysis - By Countries
11.1.7.1 United States Drone Inspection And Monitoring Market
11.1.7.1.1 United States Drone Inspection And Monitoring Market by Solution
11.1.7.1.2 United States Drone Inspection And Monitoring Market by Type
11.1.7.1.3 United States Drone Inspection And Monitoring Market by Application
11.1.7.1.4 United States Drone Inspection And Monitoring Market by Mode of Operation
11.1.7.2 Canada Drone Inspection And Monitoring Market
11.1.7.2.1 Canada Drone Inspection And Monitoring Market by Solution
11.1.7.2.2 Canada Drone Inspection And Monitoring Market by Type
11.1.7.2.3 Canada Drone Inspection And Monitoring Market by Application
11.1.7.2.4 Canada Drone Inspection And Monitoring Market by Mode of Operation
11.1.7.3 Mexico Drone Inspection And Monitoring Market
11.1.7.3.1 Mexico Drone Inspection And Monitoring Market by Solution
11.1.7.3.2 Mexico Drone Inspection And Monitoring Market by Type
11.1.7.3.3 Mexico Drone Inspection And Monitoring Market by Application
11.1.7.3.4 Mexico Drone Inspection And Monitoring Market by Mode of Operation
11.2. EUROPE
11.2.1 Europe Drone Inspection And Monitoring Market Overview
11.2.2 Europe Drone Inspection And Monitoring Market Forecasts and Analysis
11.2.3 Europe Drone Inspection And Monitoring Market Forecasts and Analysis - By Solution
11.2.4 Europe Drone Inspection And Monitoring Market Forecasts and Analysis - By Type
11.2.5 Europe Drone Inspection And Monitoring Market Forecasts and Analysis - By Application
11.2.6 Europe Drone Inspection And Monitoring Market Forecasts and Analysis - By Mode of Operation
11.2.7 Europe Drone Inspection And Monitoring Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Drone Inspection And Monitoring Market
11.2.7.1.1 Germany Drone Inspection And Monitoring Market by Solution
11.2.7.1.2 Germany Drone Inspection And Monitoring Market by Type
11.2.7.1.3 Germany Drone Inspection And Monitoring Market by Application
11.2.7.1.4 Germany Drone Inspection And Monitoring Market by Mode of Operation
11.2.7.2 France Drone Inspection And Monitoring Market
11.2.7.2.1 France Drone Inspection And Monitoring Market by Solution
11.2.7.2.2 France Drone Inspection And Monitoring Market by Type
11.2.7.2.3 France Drone Inspection And Monitoring Market by Application
11.2.7.2.4 France Drone Inspection And Monitoring Market by Mode of Operation
11.2.7.3 Italy Drone Inspection And Monitoring Market
11.2.7.3.1 Italy Drone Inspection And Monitoring Market by Solution
11.2.7.3.2 Italy Drone Inspection And Monitoring Market by Type
11.2.7.3.3 Italy Drone Inspection And Monitoring Market by Application
11.2.7.3.4 Italy Drone Inspection And Monitoring Market by Mode of Operation
11.2.7.4 United Kingdom Drone Inspection And Monitoring Market
11.2.7.4.1 United Kingdom Drone Inspection And Monitoring Market by Solution
11.2.7.4.2 United Kingdom Drone Inspection And Monitoring Market by Type
11.2.7.4.3 United Kingdom Drone Inspection And Monitoring Market by Application
11.2.7.4.4 United Kingdom Drone Inspection And Monitoring Market by Mode of Operation
11.2.7.5 Russia Drone Inspection And Monitoring Market
11.2.7.5.1 Russia Drone Inspection And Monitoring Market by Solution
11.2.7.5.2 Russia Drone Inspection And Monitoring Market by Type
11.2.7.5.3 Russia Drone Inspection And Monitoring Market by Application
11.2.7.5.4 Russia Drone Inspection And Monitoring Market by Mode of Operation
11.2.7.6 Rest of Europe Drone Inspection And Monitoring Market
11.2.7.6.1 Rest of Europe Drone Inspection And Monitoring Market by Solution
11.2.7.6.2 Rest of Europe Drone Inspection And Monitoring Market by Type
11.2.7.6.3 Rest of Europe Drone Inspection And Monitoring Market by Application
11.2.7.6.4 Rest of Europe Drone Inspection And Monitoring Market by Mode of Operation
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Drone Inspection And Monitoring Market Overview
11.3.2 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis
11.3.3 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis - By Solution
11.3.4 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis - By Type
11.3.5 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis - By Mode of Operation
11.3.7 Asia-Pacific Drone Inspection And Monitoring Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Drone Inspection And Monitoring Market
11.3.7.1.1 Australia Drone Inspection And Monitoring Market by Solution
11.3.7.1.2 Australia Drone Inspection And Monitoring Market by Type
11.3.7.1.3 Australia Drone Inspection And Monitoring Market by Application
11.3.7.1.4 Australia Drone Inspection And Monitoring Market by Mode of Operation
11.3.7.2 China Drone Inspection And Monitoring Market
11.3.7.2.1 China Drone Inspection And Monitoring Market by Solution
11.3.7.2.2 China Drone Inspection And Monitoring Market by Type
11.3.7.2.3 China Drone Inspection And Monitoring Market by Application
11.3.7.2.4 China Drone Inspection And Monitoring Market by Mode of Operation
11.3.7.3 India Drone Inspection And Monitoring Market
11.3.7.3.1 India Drone Inspection And Monitoring Market by Solution
11.3.7.3.2 India Drone Inspection And Monitoring Market by Type
11.3.7.3.3 India Drone Inspection And Monitoring Market by Application
11.3.7.3.4 India Drone Inspection And Monitoring Market by Mode of Operation
11.3.7.4 Japan Drone Inspection And Monitoring Market
11.3.7.4.1 Japan Drone Inspection And Monitoring Market by Solution
11.3.7.4.2 Japan Drone Inspection And Monitoring Market by Type
11.3.7.4.3 Japan Drone Inspection And Monitoring Market by Application
11.3.7.4.4 Japan Drone Inspection And Monitoring Market by Mode of Operation
11.3.7.5 South Korea Drone Inspection And Monitoring Market
11.3.7.5.1 South Korea Drone Inspection And Monitoring Market by Solution
11.3.7.5.2 South Korea Drone Inspection And Monitoring Market by Type
11.3.7.5.3 South Korea Drone Inspection And Monitoring Market by Application
11.3.7.5.4 South Korea Drone Inspection And Monitoring Market by Mode of Operation
11.3.7.6 Rest of Asia-Pacific Drone Inspection And Monitoring Market
11.3.7.6.1 Rest of Asia-Pacific Drone Inspection And Monitoring Market by Solution
11.3.7.6.2 Rest of Asia-Pacific Drone Inspection And Monitoring Market by Type
11.3.7.6.3 Rest of Asia-Pacific Drone Inspection And Monitoring Market by Application
11.3.7.6.4 Rest of Asia-Pacific Drone Inspection And Monitoring Market by Mode of Operation
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Drone Inspection And Monitoring Market Overview
11.4.2 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis
11.4.3 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis - By Solution
11.4.4 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis - By Type
11.4.5 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis - By Mode of Operation
11.4.7 Middle East and Africa Drone Inspection And Monitoring Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Drone Inspection And Monitoring Market
11.4.7.1.1 South Africa Drone Inspection And Monitoring Market by Solution
11.4.7.1.2 South Africa Drone Inspection And Monitoring Market by Type
11.4.7.1.3 South Africa Drone Inspection And Monitoring Market by Application
11.4.7.1.4 South Africa Drone Inspection And Monitoring Market by Mode of Operation
11.4.7.2 Saudi Arabia Drone Inspection And Monitoring Market
11.4.7.2.1 Saudi Arabia Drone Inspection And Monitoring Market by Solution
11.4.7.2.2 Saudi Arabia Drone Inspection And Monitoring Market by Type
11.4.7.2.3 Saudi Arabia Drone Inspection And Monitoring Market by Application
11.4.7.2.4 Saudi Arabia Drone Inspection And Monitoring Market by Mode of Operation
11.4.7.3 U.A.E Drone Inspection And Monitoring Market
11.4.7.3.1 U.A.E Drone Inspection And Monitoring Market by Solution
11.4.7.3.2 U.A.E Drone Inspection And Monitoring Market by Type
11.4.7.3.3 U.A.E Drone Inspection And Monitoring Market by Application
11.4.7.3.4 U.A.E Drone Inspection And Monitoring Market by Mode of Operation
11.4.7.4 Rest of Middle East and Africa Drone Inspection And Monitoring Market
11.4.7.4.1 Rest of Middle East and Africa Drone Inspection And Monitoring Market by Solution
11.4.7.4.2 Rest of Middle East and Africa Drone Inspection And Monitoring Market by Type
11.4.7.4.3 Rest of Middle East and Africa Drone Inspection And Monitoring Market by Application
11.4.7.4.4 Rest of Middle East and Africa Drone Inspection And Monitoring Market by Mode of Operation
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Drone Inspection And Monitoring Market Overview
11.5.2 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis
11.5.3 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis - By Solution
11.5.4 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis - By Type
11.5.5 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis - By Application
11.5.6 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis - By Mode of Operation
11.5.7 South and Central America Drone Inspection And Monitoring Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Drone Inspection And Monitoring Market
11.5.7.1.1 Brazil Drone Inspection And Monitoring Market by Solution
11.5.7.1.2 Brazil Drone Inspection And Monitoring Market by Type
11.5.7.1.3 Brazil Drone Inspection And Monitoring Market by Application
11.5.7.1.4 Brazil Drone Inspection And Monitoring Market by Mode of Operation
11.5.7.2 Argentina Drone Inspection And Monitoring Market
11.5.7.2.1 Argentina Drone Inspection And Monitoring Market by Solution
11.5.7.2.2 Argentina Drone Inspection And Monitoring Market by Type
11.5.7.2.3 Argentina Drone Inspection And Monitoring Market by Application
11.5.7.2.4 Argentina Drone Inspection And Monitoring Market by Mode of Operation
11.5.7.3 Rest of South and Central America Drone Inspection And Monitoring Market
11.5.7.3.1 Rest of South and Central America Drone Inspection And Monitoring Market by Solution
11.5.7.3.2 Rest of South and Central America Drone Inspection And Monitoring Market by Type
11.5.7.3.3 Rest of South and Central America Drone Inspection And Monitoring Market by Application
11.5.7.3.4 Rest of South and Central America Drone Inspection And Monitoring Market by Mode of Operation
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. DRONE INSPECTION AND MONITORING MARKET, KEY COMPANY PROFILES
13.1. INTERTEK GROUP PLC
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. MISTRAS GROUP
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. WIPRO LIMITED
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. INTEL CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. LOCKHEED MARTIN CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NORTHROP GRUMMAN CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. SZ DJI TECHNOLOGY CO., LTD.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. PARROT SA
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. MAVERICK INSPECTION LTD
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. GARUDA UAV
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Intertek Group plc
2. MISTRAS Group
3. Wipro Limited
4. Intel Corporation
5. Lockheed Martin Corporation
6. Northrop Grumman Corporation
7. SZ DJI Technology Co., Ltd.
8. Parrot SA
9. Maverick Inspection Ltd
10. Garuda UAV
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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