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Increasing Seaborne Trade Across The Globe To Propel Port Equipment Market

The factors that are expected to fuel the growth of the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Various countries have been focusing on developing new ports owing to the increase in vessel count and trade volume. According to the International Chamber of Shipping, 90% of the world’s trade is carried out through seaways as they are ideal for heavy and bulk goods, have large carrying capabilities, and offer competitive freight costs. The global port equipment market size is expected to grow from USD 29.2 billion in 2018 to USD 36.6 million by 2023, at a CAGR of 3.30% during the forecast period. The major driving factors for the port equipment market are the increasing seaborne trade across the globe and the growing number of container shipments in Asia Pacific and the Middle East. Based on equipment type, the straddle carriers segment is estimated to lead the port equipm
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How is the competitive landscape changing in the client ecosystem and impacting their revenue shares?

 Increasing demand for drone services for industry-specific applications and improved regulatory framework from Asia Pacific and the Middle East is one of the major factors driving this market. The report includes major strategies adopted by major players from 2017 to 2019, which helped them innovate their offerings and expand their customer base.


The global drone services market is estimated at USD 4.4 billion in 2019 and is projected to reach USD 63.6 billion by 2025, at a CAGR of 55.9% from 2019 to 2025. Factors such as the increasing demand for drone surveys across the globe and the growing use of drone in infrastructure, Oil & Gas industry in Asia Pacific and the Middle East are expected to fuel the growth of the drone services market.

Based on industry, the infrastructure industry segment is expected to lead the drone services market during the forecast period. This segment includes drone services provided operators to different end-use industries such as oil & gas, mining, infrastructure, logistics, media and entertainment, agriculture and utility & power among others. In the infrastructure industry, increase in the demand for aerial mapping for data collection and aerial photography is driving the growth of infrastructure industry.

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The training & education type segment of the drone services market is expected to grow at the highest CAGR during the forecast period

Based on type, the training & education segment of the drone services market is expected to grow at the highest CAGR during the forecast period. The increase in demand from drone training institutes and rise in the number of drone pilots has led to an increase in the demand for the training & education segment.  Requirement of the skilled pilots in the drone industry is lucrative opportunity for the trainee pilots, which is supporting the growth of this market.

Asia Pacific is estimated to lead the drone services market during the forecast period. The growth of this market is supported by new infrastructure projects in the region, thereby providing various opportunities for drone services.  The rise in the capital investment for the development of new infrastructure projects in China and India is expected to drive the demand for drone services market. Also, rise in the drone deliveries in the region is another factor supporting the growth of the market.

Major players in the drone services market Aerobo (US), Airware (US), Cyberhawk (UK), Deveron UAS (Canada), DroneDeploy (US), Identified Technologies (US), Measure (US), Phoenix Drone Services (US), Prioria Robotics (US), SenseFly (Switzerland), Sharper Shape (US), Sky-Futures (UK), Terra Drone (Japan), The Sky Guys (Canada),  and Unmanned Experts (US) among others.

Sky-Futures is one of the leaders offering innovative drone services to different applications and focuses majorly on the European market. The company has made several contracts to expand its share in the drone services market. In December 2018, the company entered into a 3-year contract with BW Offshore (Norway) to provide drone inspection services for crude oil tanks. In May 2018, Sky-Futures Ltd. partnered with NATS (UK) to provide commercial drone pilot training. The company also signed partnership with Bureau Veritas to provide industrial inspection services through drones in Europe, in January 2018.

Identified Technologies (US) is a privately held company founded in 2013. It is one of the fastest-growing drone companies in the North American region. In June 2018, Identified Technologies partnered with Landmark Construction (US) to provide drone mapping services to their construction sites in the US. In February 2018, Identified Technologies launched new features in their drone mapping service software such as Haul Road Analysis and Slope Maps, to enhance the drone services provided to mining and infrastructure industries.

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