Christy Publications Wind Turbine Inspection Drones Market | Page 2

telescopes and binoculars for the task. In conjunction with the human life risks, the method also had several limitations such as difculty to access some areas, exclusion of blade defects assessment invisible to the naked eye. However, elimination of these drawbacks through utilization of wind turbine inspection drones is expected to present considerable growth prospects for this market. Wind Turbine Inspection Drone Market Taxonomy On the basis of oferings, the global wind turbine inspection drones market is classifed into: •Hardware •Solutions and services Increasing awareness regarding utilization of renewable energy sources has led to increased reliance harnessing wind energy According to Global Wind energy Council (GWEC), cumulative installed capacities of these towers was over 485 GW, which is expected to surpass 800 GW by 2021 with double digit growth rates over the time span. Increasing focus towards global warming and pollution levels, requirement of harnessing green energy sources are expected to garner exponential adoption rates of these renewable energy sources which will in turn drive the wind turbine inspection drones market growth over the forecast period. Maintenance of uninterrupted and consistent power outputs, reduction in examination and maintenance downtimes will be the major factors contributing to the growth of the industry. Integration of artifcial intelligence (AI) to reduce the workfow errors and detailed analysis within few hours is among the key trends gaining traction in industry SkySpecs Solution fully automated assessment workfows that are featured with full assessment turnaround time within 48 hours. AirFusion is another company that builds AI based solutions to automate damage discovery. These are among the few of the many product oferings utilized to enhance the examination outputs. Moreover, players are increasingly making eforts to enhance the hardware product oferings. For instance, Pro-Drone, introduced customizable solutions for enhanced positional awareness for the blades placement. Regulatory compliances that restrict the utilization of these UAVs are expected to present considerable growth challenge to the industry participants FAA regulations in the U.S., requirement of specifc qualifcations, certifcations, or design modifcations, regulations regarding LOOS and VLOOS, and its distinctness across countries is expected to be the major factor that will hamper the industry growth. According to our research, several countries that include parts of Western Europe and U.S. are expected to upgrade regulations regarding use of UALs, which may relax the stringency of the regulations. This may also present signifcant growth barriers to the new entrants in the industry. U.S. dominated the overall industry share in 2016 is expected to continue its dominance over the next few years, primarily owing to the largest utilization of the UALs for various applications in the region. Moreover, according to our research commercial applications in the region will