Negative figures released by ONS in April 2018 suggested the construction industry is experiencing a technical recession. Therefore, PWC’s report suggesting significant growth to construction by 2030 is welcome news. It is reported that the introduction of drones across the industry could increase efficiency and cost effectiveness.
ONS and Barbour ABI have reported two consecutive quarters of decline from Q3 2017 to Q1 2018. May 2018 saw a slight increase of 0.5% however this does little to alter the long term decline. This combined with the 8.9% decrease in the value of new construction projects between April 2018 and May 2018 may foreshadow a difficult time for the industry. This has been attributed in parts to the uncertainty of Brexit and the unknown reality of a Post-Brexit market.
Drones offer £3.5bn in cost savings
Therefore, it’s welcome news from PWC that the construction industry could experience over £3.5bn in cost savings with the introduction of over 4,800 drones by 2030. A forecast increase in GDP for the industry by £8.6bn by 2030 helps to reduce any concern created by hearing the term “technical recession”.
Doing nothing is not an option. It is important to understand the benefits of drone technology.
PWC do suggest that the best way to ensure you reap all the rewards from the drone introduction is to become an early adopter. This means implementing and integrating drone systems and the subsequent data to your business before everyone else. The adoption of drone technology is according to PWC inevitable and simply doing nothing is not an option. Therefore, it’s important to understand the benefits of drone technology and the areas in your own business to best utilise this tool.
Mass adoption will create further benefits
Drones usage is already established amongst certain areas of construction such as land surveillance. However, mass adoption is suggested to create even further benefits for the industry. Drones are approximately 400x faster and more efficient than traditional methods of data collection.Additionally, enhanced data sets will ensure greater adherence to architectural plans. PWC suggests that “periodic drone flights” will allow unprecedented access to sites. Aiming to reduce disputes surrounding project progress.
A strategic review of the implications of drone usage and the prioritisation of response to the evolving market is vital for an organisation or individual to thrive. PWC argue that a focus on data driven cultures and seamless integration of the data collected will set you apart. This will help you maximise every opportunity. However, proper governance and data regulation is vital to ensure consumers remain confident in your business.
Want to know more about drones in the construction industry?
Check out PWC’s full report here
