Offshore drone market estimated at $1.46B by 2033

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Traditional inspection methods can be replaced with advanced technology, such as drones, providing more data with less risk and less downtime.

The market for offshore drone inspection is anticipated to reach $421.6 million in 2023 and grow at a healthy 13 percent CAGR between 2023 and 2033.

The various advantages offered by advanced drones (stability, low deployment costs, improved data quality, superior navigation algorithms, etc.) have increased their use in offshore inspection and maintenance services.

The use of these advanced unmanned vehicles is increasing in the oil and gas industry and in the defense sector. This has encouraged investment in this sector and strengthened offshore inspection and maintenance services. The increasing demand for energy has led to exploration activities in a variety of deep-sea and hostile environments using innovative technologies developed in recent years. Areas that were humanly impossible to explore are now delved into with the help of drones.

For example, in August 2021, multinational energy company Equinor ASA completed the world’s first drone logistics operation to an offshore facility. As a result, the offshore drone inspection market is expected to grow significantly during the forecast period.

Takeaways from Market Study include:

  • The global offshore drone inspection market is projected to reach $1.4578 billion by 2033.
  • The market witnessed 9.8 percent CAGR between 2018 and 2022.
  • Filming and photography in application segment dominates the market with 24.4 percent market share in 2023.
  • Under drone type, rotary wing offshore drone inspection dominates the market and is valued at $226.4 million in 2023.
  • Based on region, demand for offshore drone inspection is expected to increase at CAGR of 13.5 percent in East Asia during the forecast period.

Traditional inspection methods can be replaced with advanced technology, providing more data with less risk and less downtime. Offshore operators will continue to use other assistive technologies such as AI, wireless networks, analytics, robotics, IoT, and cloud systems to access and analyze data to improve data-driven decision making. Unmanned aerial vehicles (UAVs) have been highly efficient and lucrative technology for conducting surveillance activities in offshore environments across a variety of industries. Due to the great advantages these devices offer, governments and companies are using them to perform a variety of functions such as collection of data for inspection, security, and surveillance. This increases the demand for the offshore drone inspection market.

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