The future of the construction business is looking bright. Construction spending is projected to grow by 3.8% in 2022, reaching a total of $2.164 trillion. This growth will be fueled by increased investment in infrastructure, commercial building, and residential construction.
The growth in the construction industry is being driven by a number of factors, including:
- The need for infrastructure renewal and expansion
- The growth of the U.S. economy, which is fueling demand for new commercial buildings and factories
- The increasing popularity of single-family homes, which is driving up demand for residential construction
A Lifetime Opportunity for Construction Businesses
The continued growth of the construction industry is good news for contractors, subcontractors, suppliers, and others in the industry. It is also good news for upcoming construction technology companies that are looking to serve this growing industry.
Commercial and residential builders, as well as other kinds of construction companies, could benefit from the use of new construction technologies such as drones and 3D printing.
We took a closer look at some of these technologies to determine how they work, how they’re used, and what they could mean for your business.
- Construction Drones
Drones are becoming increasingly popular in a variety of industries. Their ability to capture high-resolution images makes them useful for everything from photography to crime scene mapping. They can also be effective tools for construction companies that need to inspect or photograph areas that are difficult or dangerous to reach, such as roofs and building exteriors.
Drones are particularly helpful for taking aerial photographs because they can capture images from multiple angles at once, providing a full view of the targeted area. They can also provide their own power supply, which means that there is no need to run extension cords or other cables to use them. Drones can be battery-powered or solar-powered, depending on the needs of the company.
In addition to their ability to take quality photographs from above, drones also have a practical application for construction workers in the field. Some companies are already using drones as a way to examine complex construction sites.
They work by sending a drone with a camera attached over the site to provide a visual representation of any potential hazards. Workers are then able to use this information when they are conducting their own inspections, allowing them to avoid these dangerous areas altogether.
A drone could also be used by construction companies in the design phase. Drones equipped with cameras can travel over a construction site and capture high-quality images of the property. These images can then be used to assist with the blueprints and designs for the project.
- 3D Printing
3D printing is a fast-growing industry that is becoming more accessible for both industrial companies and consumers alike. 3D printing holds great potential in construction. It could lead to new architectural concepts, reduce labor costs through the use of prefabricated components, and help drive down the cost of producing custom parts.
In construction, 3D printers are being used to create building materials from cement, plastic, and other materials. In 2014, a Chinese company named Winsun announced that they had built ten houses in 24 hours using a massive 3D printer. The printer used a mixture of cement and glass fiber to create components that were later assembled into the buildings.
The cost is $5,000 per square meter (approximately $53 per square foot), which makes it significantly more affordable than traditional construction methods. 3D printing offers significant savings in labor costs because prefabricated parts can be built in an offsite factory, transported to the construction site, and quickly assembled.
3D printing can also be used to create custom parts for building projects. For example, 3D printing allows architects to collaborate more closely with designers of custom furniture or other interior objects. Architects are able to show these professionals what the final product will look like, while the interior designers can provide input and feedback.
With 3D printing, the two professionals don’t need to wait until all of the construction components are in place before they begin working together. The architects can simply print out a model of the building and show it to them while they’re developing their designs.
The construction business is booming, and so are the new technologies in it. Drones are becoming more and more popular in a variety of industries. They can be used for photography, construction inspection, and design.
3D printing is also growing in popularity and has the potential to revolutionize the construction industry. All of these technologies have great potential for businesses and offer many benefits that can help companies save time and money.