Infrastructure drone market worth $45 billionStaff Writer | December 7, 2016
The total addressable market for drone powered business operations is valued at over $127 bn, according to PwC.
Technology The largest potential market
Within this industry, road and railway sector operators are already beginning to gain competitive advantage through early and effective implementation of drone powered solutions at all stages of the capital project and infrastructure life cycle.
Drone technologies can be used at almost every stage in the transport infrastructure life sector, starting from construction and investment monitoring, through maintenance, up to asset inventory.
During construction, data gained through drones can facilitate rapid reactions to any deviations from the plan, and in extreme cases might be used as evidence in litigation.
For example, in one construction project supervised by Drone Powered Solutions, the investor had savings of approximately $2.94 million in claims settlement litigation thanks to unparalleled evidence.
Other applications range from the detection and prevention of trespassing, to placement of trench protection, to enhancing site safety.
For instance, the PwC Drone Powered Solutions team has calculated that the number of life threating accidents on an average construction site monitored by drones has been decreased by up to 91%.
The increasing applications of drone technology in transport infrastructure projects comes at a time of large investment and heavy competition in the industry. The PwC report estimates that investments in transport infrastructure will bring global growth in capital expenditures of 4.5% annually between now and 2020.
The regions with the highest forecast increases are Africa and Latin America, where investments in transport infrastructure will double by 2020.
The leading region in terms of investment volume is Asia, with a forecast increase of almost $200 bn by 2020 in transport infrastructure capital expenditures, or 63 percent of the global total.
Developed regions such as Western Europe and the US are forecast to increase their spending on transport infrastructure by an average of 15% through 2020. ■