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According to Research Layer, the global Tethered Drones Market is expected to surpass USD 824.56 Billion by 2030 with a CAGR rate of 39.2% during the projected period.
A tethered drone is an inexpensive unmanned aerial vehicle intended for both commercial and military use. The camera, sensors, battery, tethered cable, drone platform, and controlling system are just a few of the parts that make up a tethered drone. These drones can run for many hours on a single charge, and because to technology developments, they may also run for many hours, days, or even weeks using GPS and the internet. The advent of such technologically superior drones is beneficial for changing the drone's power management system from a traditional battery with a constrained battery backup to a high-performing cable with an infinite flight duration battery backup. The polytetrafluoroethylene (PTFE) material used in tethered drone cables has good temperature ratings and a sizable amount of payload carrying capacity, making it the material of choice in rescue missions. Drones that are tethered are employed for a variety of tasks, including mapping, imaging, rescue efforts, and surveillance.
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The global pandemic of the COVID-19 has crippled the global economy at unprecedented levels. International borders had been shut down to contain the spread of the virus. Additionally, several worst hit economies had imposed lockdown, both total and partial. This has resulted in many of the industries on the brink of a temporary or a total shut down. Moreover, majority of the labors have migrated back to their homes owing to which there is considerable shortage of workforce in the tethering drones manufacturing industry.
This will impact the supply chain of the UAVs, drones, and tethering drones sectors. Manufacturers are likely to keep on selling their products in the market through various regional suppliers. However, the likelihood of smaller players offering raw materials, components, and spare parts at competitive rates is likely to restrict the growth of the larger and established players in the market. This is also anticipated to lead to suppliers demanding a higher profit share. A lack in supply and a possible supply chain gap is expected to lead to price increase to recover profits and to ensure sustainability. Another reason for a price hike is likely to be the preference of procuring products from Europe, North America, and South and Southeast Asia, which is likely to emerge as an alternative for China. However, this is likely to be difficult and farfetched keeping in mind the technological advances and the strong manufacturing framework in China has been built over the years.
Tethered Drones Market Driver:
Increasing Demand for Tethered Drones from Emerging Economies
The defense, construction, mining, transport, electrical, automotive, logistics, and other commercial and industrial sectors are some of the industries in emerging countries which are quick adopters when it comes to innovation and technology regarding UAVs and tethered drones. Rapid industrialization and urbanization have increased the demand for highly efficient and cost-effective protection strategies, which has compelled demand for tethered drones in the defense sector of emerging economies. Increasing government subsidies in developing countries such as India have led to resurgent investments in the manufacturing, mining, and several other sectors for energy efficiency, demanding rebuilding of energy and electrical circuits has boosted the demand for tethered drones.
Public safety, communication establishment, surveillance, and defense, are some of the sectors where effective containment and protection is being focused through tethered drones, fueling the overall tethered drones market growth.
Massive Mining and Port Building Projects and Rising Investment within the Utility Power Plant Structure
The mining industry significantly contributes to a nation's economy. For instance, mining companies in Australia paid around USD 204 billion in 2016-2017 in taxes and royalties, hospitals, and funding schools and infrastructures across the regions. The mining industry had a positive outlook during 2014–2016 and is expected to flourish against a backdrop of upcoming projects in Australia, China, Brazil, and India. Need for expanding mining and port activities across the regions is set to increase demand for surveillance and security perimeter establishment through tethered drones. Certainly for massive mining and building projects there is constant need for protection, intrusion prevention, situational awareness, facilities & assets protection, and attacks prevention, driving the global tethered drones market. With increasing international trading activities in the last few years, global seaborne trade has observed massive expansion majorly supported by the 2017 upswing in the world economy. This is expected to further support the overall growth of global tethered drones market.
With a major aim on reducing the overall carbon content and resource conservation, the global agencies has made an intense focus to rebuild the power generation structure right from the grass root level, increasing demand for tethered drones. The International Energy Agency expects the installed capacity for wind and solar power to grow from 57 GW and 5 GW respectively to 138 GW and 30 GW, in the 27 EU countries between 2007 and 2015. Capacities of 138 GW for wind and 48 GW for solar are then forecasted for 2020, which shows tremendous opportunity for tethered drones market to grow. This has major economic implications. About 50 per cent of the expected capital expenditure will be accounted for by renewable energy. This would directly contribute in the growth of electrical sector within the energy sector, thereby creating a huge market scope for the overall tethered drones market. Aforementioned factors are expected to boost the overall tethered drones market growth.
Tethered Drones Market Restraints:
Fluctuating Raw Material Prices
Raw material prices is one of the important factors for the tethered drones manufacturers to make profitable business. But due to supply chain disruptions, taxes, international tariffs, and disruption in raw material production, prices of the raw materials fluctuates in the production of tethered drones. Raw material prices grabs major production cost share of the tethered drones manufacturing process. Some of the raw material is largely locally supplied which takes off the load of import duties from the raw material making tethered drones cheap to produce, but some essential raw material is imported from other countries, which sometimes hinders the production process, due to price fluctuations. International tariffs, import duties, and mainly the supply chain disruptions are some of the factors which makes production of tethered drones expensive. This whole scenario acts as the restraining factor for global tethered drones market, slowing the market growth to some extent.
The global Tethered Drones Market has been segmented based on application, end use, and region/country.
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Based on the application, the Tethered Drones Market has been segmented into law enforcement, surveying, mapping, and other applications. Law enforcement held the largest share for the market. This dominance is owing to
Based on the end user, the market has been segmented into defense, telecommunication, and other end users. Defense held the largest share for the market. Increases in military spending on UAV purchases, the launch of new military UAV programmes by various militaries around the world, and the growing prevalence of UAV and related system deployments in support of specialised military tasks like surveillance and continuous monitoring have all contributed to the expansion of the tethered drone market in the defence sector.
The global Tethered Drones Market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The geographic analysis of the global Tethered Drones Market share has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is quite active in adapting to the changes, adopting new technology, and investing into the future. Government & defense and public safety, are some of the sectors where tethered drones are being deployed for services in North America. In the government & defense sector, tethered drones are mainly used for tactical operations monitoring, observation & compound surveillance, and pop-up telecommunications. Across public safety sector, North American government is heavily investing into tethered drones technology and through it, the government is actively focusing on crisis management, firefighting, crowd control, emergency telecommunication, and search and rescue operations.
North American government is exploring wide array of applications for tethered drones, which has increased demand for the same in the last few years, driving the North America tethered drones market. Moreover, number of players in the tethered drones market are establishing their offices and factories across North America to serve the customer base effectively, which is expected to increase popularity of tethered drones among consumers and government, ultimately boosting the overall North American tethered drones market growth.
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· In March 2021, Elistair, a market leader in tethered drones, has raised €5M from Omnes and Starquest Capital, its historic investor. This Series B round follows an initial €2M funding round in 2018. Since its creation in 2014, Elistair’s solutions have already been deployed by military forces and national security agencies in over 65 countries.
· In January 2021, BAE Systems has worked with SME UAVTEK to get a tiny UAV known as the ‘Bug’ ready for action with the British Army. The Bug was the only nano-UAV able to cope with challenging weather during a recent Army Warfighting Experiment (AWE) event hosted by the Ministry of Defence’s Future Capability Group. Despite its diminutive size, the tiny drone was able to operate in winds of over 50mph, impressing attendees during the wargames scenario.
· In June 2021, Oiltanking and Azur Drones have successfully equipped Oiltanking’s terminal in Copenhagen with state-of-the-art drone technology to support safety and operations. The project is part of Oil tanking’s digital transformation as it enhances the use of smart and sophisticated digital technology at its sites.
· In June 2021, Azur Drones is one of the world leaders in drone-in-a-box solutions for surveillance and inspection. Its Skeyetech solution is operated on many highly sensitive sites around the globe. Skeyetech solution now integrates with Microsoft Azure through Azure IoT Hub to use the power of data for autonomous drone operations.
The key players in the global Tethered Drones Market are Elistair, Acecore Technologies, ECA Group, Fotokite, Menet Aero, Hoverfly Technologies, Novadem, Sky Sapience, Skyshot Private Limited, and Yuneec Holding Ltd.
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2023 to 2030. For this analysis, Research Layer segmented the global Tethered Drones Market has based on component, communication infrastructure, device usage, end use, and region/country.
· Potential Investors
· Regulatory & Government Bodies
· Research & Consulting Firms
· Upstream & Downstream Vendors
· End Users
· Others
Report Scope
The global Tethered Drones Market is expected to exhibit 39.2% during the projected period.
The North America region is expected to be an early adopter of the global Tethered Drones Market in 2030
The law enforcement segment is expected to be lucrative for the market during the forecast period.
The defense segment is expected to be the largest contributor to the Tethered Drones Market by 2030.
Elistair, Acecore Technologies, ECA Group, Fotokite, Menet Aero, Hoverfly Technologies, Novadem, Sky Sapience, Skyshot Private Limited, and Yuneec Holding Ltd are the key companies of the global Tethered Drones Market.
Report Code :
RL6530
Published on :
Dec 2022
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