UAVs and the Future of Mining and Oil and Gas Field Machinery Manufacturing
Overview
Unmanned Aerial Vehicles (UAVs) are poised to revolutionize the mining and oil and gas field machinery manufacturing industries. Key statistics demonstrate the growing relevance of UAV technology, including anticipated industry growth, increasing investment in drone technology, and mounting demand for automation in these sectors. This guide will explain the role of UAVs in shaping the future of these industries and detail the potential benefits of integrating this technology.
Growth of the Drone Market
As UAV technology continues to evolve, the drone market is set to experience immense growth. Reports predict that the global drone market will reach approximately $43.1 billion by 2024, a stark rise from the $14.1 billion revenue generated in 2018. This suggests a compounding annual growth rate (CAGR) of about 20.5% over this period, signaling significant potential for industries looking to employ drone technology.
Investment in Drone Technology
Emerging trends reveal a steady increase in investment for drone technology. Industrial sectors, including mining and gas oil field machinery manufacturing, are investing heavily into UAVs, setting the pace for a technological shift. In 2019, $1.2 billion was invested globally into drone technology, marking a 67% increase as compared to the investment made in 2016. This clear rising trend points to the growing recognition of UAVs' capacity for delivering efficiency and safety improvements.
Demand for Automation in Mining and Oil & Gas Industries
Driven by a need for increased efficiency and improved safety measures, there is a mounting demand for automation in the mining and oil and gas industries. Automated drones in these sectors can conduct critical tasks such as surveying, surveillance, and data collection more efficiently, reducing costs and optimizing operations. Estimates indicate that by 2025, the mining automation market could reach up to $3.29 billion, while the oil and gas automation market is expected to grow at a CAGR of 2.4% from 2020-2025.
Key Takeaways
- The global drone market is expected to reach approximately $43.1 billion by 2024, highlighting potential for significant industry growth.
- Investment in drone technology has seen a marked increase, with $1.2 billion invested globally in 2019 – a 67% increase compared to 2016.
- The market for mining and oil and gas automation is expected to grow substantially, indicating the increasing importance of integrating automation technologies such as UVAs into these sectors.
3Laws Robotics offers innovative solutions to support industries looking to integrate UAV technology. By enhancing safety and reliability in robotics systems, 3Laws' software is a critical tool for businesses navigating the certification process. 3Laws Supervisor, built upon Control Barrier Functions technology, simplifies certification with robust safety features and evidence of system robustness.
Within various industries, 3Laws technology has proven to be a game-changer. In warehouse automation, for example, it facilitated a 40% efficiency gain for an autonomous forklift customer. Further, in dynamic environments, 3Law's reactive collision avoidance capabilities enable undeterred navigation. Its scalability extends to various platforms such as drones and mobile robots.
With 3Laws Robotics, businesses can effortlessly prioritize safety while optimizing their operations. By extending beyond traditional e-stop methods, 3Laws fuses safety with innovation, offering proactive solutions designed to unlock the full potential of robotics in the mining and oil and gas industries.