The drones are majorly used for several commercial applications and military operations, such as package delivery, inspection, ISR, combat targeting, as well as border security and surveillance by military and security agencies. These varied applications have led to a rising demand for drones in the commercial sector and unlocked newer opportunities for drone manufacturers in the coming time. The autonomous Beyond Visual Line of Sight (BVLOS) drones market is expected to witness a high growth rate during the forecast period 2019-2029 owing to the emergence of new commercial applications that specifically require BVLOS, increase in safety in commercial and military applications, and considerable reduction in time and cost.
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However, stringent regulatory frameworks and inadequate supporting infrastructure and technologies act as the major challenges for the market. The rising demand for drone delivery in the commercial domain is expected to create viable opportunities for the BVLOS drone market. Before a firm venture into a forthcoming market, it is essential for the firm to consider certain factors that can be helpful in its establishment as a strong market player in the industry. These diverse factors govern the demand and supply of autonomous BVLOS drones.
Most of the traditional methods used to carry out inspections include the use of labor and helicopters for taking photographs from an altitude. These methods were not only expensive but also dangerous, time-consuming, and expensive. Photos taken from helicopters are often not clear, and notes made using pen and paper are not accurate. Using drones for the same operation solves these issues. BVLOS drone operations have enabled operations of drones in hard to reach places and take photos using high definition cameras and sensors, which has increased the safety of operations. Using autonomous technology further reduces human intervention, thereby reducing the chances of a crash due to human error. Using autonomous BVLOS drones also saves time as large areas can be covered very quickly as compared to manual inspection and monitoring.
BVLOS drones have been particularly useful for well pad inspections in the oil and gas industry. Traditionally, a technician can inspect ten well pads within a 3-mile radius in a day. However, with the use of BVLOS drones, 100-125 well pads can be investigated in a 40-mile radius. Further, autonomous drones can be programmed to carry out such operations at regular intervals. Infrared (IR) cameras on the drone can detect rising equipment temperatures on the site and keeps the workforce away from dangerous well pads. In the utility industry, helicopters have been used to carry out inspections of towers and powerlines, which involves the risk of helicopter blades getting entangled in the powerlines and the helicopter crashing. Using BVLOS drones can easily avoid such situations. Thus, the use of autonomous BVLOS drones has increased the safety of operation and saved time. This has attracted many companies to opt for BVLOS drones to carry out their day-to-day work.
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The strategies adopted by the significant companies in the global autonomous BVLOS drone market to gain a considerable market share in the growing industry of UAVs have been varying from product launches to acquisitions to partnerships over time. A company can lead the market and gain overall growth by adopting several strategies, such as introducing innovative products from time to time, improving the framework of its existing products, collaborating with other market leaders, and acquiring relatively weaker companies into its domain.
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