About Solar-powered UAV
Solar powered unmanned aerial vehicles are defined as the airborne vehicles which mainly utilize solar energy for propulsion. It is also known as solar-powered drones or solar powered UAVs. These types of vehicles are piloted by operators and it is controlled by remote or autonomously by onboard computers. Increasing usage of solar powered unnamed aerial vehicles in various applications such as defense, commercial, military, civil, among others is propelling the growth of the market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 15.2% |
Solar-powered UAV market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Solar-powered UAV market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AeroVironment, Inc. (United States), Airbus SE (France), Facebook, Inc. (United States), Silent Falcon UAS Technologies (United States), Sunbirds (France), Sunlight Photonics Inc. (United States), Thales Group (France), Alphabet Inc. (United States), Lockheed Martin Corporation (United States) and AC Propulsion (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are The Boeing Company (United States), SZ DJI Technology Co., Ltd. (China) and Barnard Microsystems Limited (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Solar-powered UAV market by Type (Fixed-wing UAV, Multiple-rotor UAV and Other), Application (Defense, Commercial, Military and Civil) and Region.
On the basis of geography, the market of Solar-powered UAV has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. If we see Market by Component, the sub-segment i.e. Propulsion System will boost the Solar-powered UAV market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements Surfacing in Hydrogen Fuel Cell, Photovoltaic Cell, Hybrid Propulsion System, among others and Rising Demand for Targeting advanced application Enhancements in the Machinery, Such As HD Imaging, Communication Networks, Thermal Imaging, among others
Market Growth Drivers:
Increasing Usage of Renewable Energy Sources Worldwide and Rising Demand for Improved Flight Range alongside Enhanced Endurance
Challenges:
Lack of Trained Professionals and Pilots to Manage the Functions
Restraints:
In some region UAV technologies is Restricted for Application Only in the Defense Industry and Government Regulations Prohibiting the Adoption of these Aerial Vehicles
Opportunities:
Rising Demand from Emerging Economics Such as China and India
Market Leaders and their expansionary development strategies
In December 2017, the Airbus SE (France) company has signed an MoU with Williams advanced engineering in order to combine Williams expertise in lightweight composites as well as a battery with Airbus‘s Zephyr high altitude pseudo-satellite program. Therefore, this agreement will help in strengthening the position of the company.
In November 2016, the Sunbirds (France) company has launched SB4-Phoenix drone, which is a commercial solar drone. In addition, it has a wingspan of 3m, which is mainly suitable for infrastructure surveillance as well as precision agriculture, among other applications. Hence, it will benefit the increased product portfolio of the company.
Key Target Audience
Solar Powered UAV Manufactures, Government Associations, Market Research and Consulting Firms and Government Regulatory Authorities
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.