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Infrastructure Inspection Global Market Report 2022: Ukraine-Russia War Impact


Major players in the infrastructure inspection market are Honeybee Robotics, Eddyfi Technologies, Wipro Limited, Xylem Inc. , Campbell Scientific Inc. , Geokon , Digitexx Data Systems Inc. , Sisgeo S. r.

New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Infrastructure Inspection Global Market Report 2022: Ukraine-Russia War Impact" -
l., AVT Reliability Ltd , MISTRAS Group, Wipro, Intel Corporation , Lockheed Martin Corporation, Northrop Grumman, DJI, Parrot Drone SAS., and Acellent Technologies Inc.

The global infrastructure inspection market is expected to grow from $1.81 billion in 2021 to $1.97 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The infrastructure inspection market is expected to grow to $2.77 billion in 2026 at a CAGR of 8.9%.

The infrastructure inspection market consists of sales of infrastructure inspection by entities (organizations, sole traders, and partnerships) that are used in analysing and monitoring tools that help to analyse the state of the infrastructure.Infrastructure inspection refers to the technology that involves collecting and assessing meaningful data about the infrastructure.

Infrastructure inspections can include bridges, pipelines, power grids, and other facilities that are essential to the use and safety of structures.

The main types of infrastructure inspection are drones, unmanned aerial vehicles (UAVs), crawlers, and submersibles.A crawler refers to a programme that visits Web sites and reads their pages and other information in order to create entries for a search engine index.

The operations are autonomous or semi-autonomous.The various applications involved pipes, tanks and vessels, sewers, roads and bridges, underwater inspection, wind turbines, nuclear applications, and auxiliary structures.

The various end-users included building and construction, oil and gas, power generation, chemicals, petrochemicals, municipal, and general purpose.

North America was the largest region in the infrastructure inspection market in 2021. The regions covered in this infrastructure inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The surge in capital investments for structural health monitoring to ensure better maintenance of critical infrastructure is expected to propel the growth of the infrastructure inspection market going forward.Structural health monitoring (SHM) is a set of systems that are installed on full-scale civil infrastructures to assist and inform operators.

To ensure structural integrity, ageing bridges, highways, buildings, dams, pylons, tunnels, and other structures are inspected.For instance, in March 2022, according to a report by Govtribe, a US-based company that focuses on government contractors and provides a real-time resource locator, the Federal Government granted the opportunity to Engineer Research and Development Centre (ERDC) for innovative technologies in structural health monitoring to advance structural health monitoring (SHM) technologies and assess the current and future condition and reliability of infrastructure components and systems.

The first year was allocated $2 million, with a total budget of $12 million. Therefore, the surge in capital investments for structural health monitoring is driving the growth of the infrastructure inspection market.

Technological advancement is a key trend gaining popularity in the infrastructure inspection market.Major companies operating in the infrastructure inspection market are focused on developing new technological solutions to strengthen their position.

For instance, in May 2022, Toshiba, a Japan-based company operating in infrastructure inspection, develops Infrastructure Inspection AI for detecting anomalies with unprecedented accuracy from a small number of reference images.Instead of requiring real-world training like traditional AI, the technology compares inspection shots against reference images using features from pre-trained deep learning models.

The new AI would detect anomalies with high accuracy even when inspection photos are taken from different perspectives than in the reference images because of Toshiba’s proprietary rectification technology. This technology also helps to reduce false positives for unusual patterns that are truly normal.

In July 2022, DroneBase, a US-based leader in intelligent imaging, acquired U.K.-based Inspection for an undisclosed amount. DroneBase’s acquisition of Inspection2 expands DroneBase’s AI-enabled inspection capabilities across telecom and transmission and distribution, creating a complete offering for owners, operators, and investors in renewable energy infrastructure and systems. Inspection2 is a UK-based company operating in infrastructure inspection.

The countries covered in the infrastructure inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The infrastructure inspection market research report is one of a series of new reports that provides infrastructure inspection market statistics, including infrastructure inspection industry global market size, regional shares, competitors with an infrastructure inspection market share, detailed infrastructure inspection market segments, market trends and opportunities, and any further data you may need to thrive in the infrastructure inspection industry. This infrastructure inspection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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