Global UAV Propulsion System- Market Overview:
A UAV propulsion system is a set of components that are used to generate thrust for the propulsion of an unmanned aerial vehicle (UAV) during flight. It consists of an engine or motor, along with a propeller, rotor, or jet, and associated control mechanisms. Propulsion systems vary in technology, fuel source, size, and complexity based on the type of UAV and its intended purpose. With the increasing demand for UAV applications across various sectors such as surveillance, agriculture, logistics, and defense, advancements in propulsion technology, such as electric propulsion, offer opportunities for improved performance, efficiency, and environmental sustainability
As per latest study released by AMA Research, the Global UAV Propulsion System- market is expected to see growth rate of 9.5%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing preference for propulsion systems with reduced emissions and enhanced eco-friendliness
Market Growth Drivers:
Increasing demand for longer range and endurance in propulsion systems and Rising need for propulsion in military and defence sectors
Challenges:
Balancing performance, reliability, and affordability is crucial for UAV propulsion systems
Restraints:
Advanced propulsion systems require complex maintenance procedures or specialized expertise for operation
Opportunities:
Advancements in AI and control systems have enabled self-piloting drones to be used in a wide range of applications
Competitive Landscape:
Manufacturers are entering and competing in the UAV propulsion system market due to the rapid expansion of the UAV industry across various sectors, including agriculture, logistics, surveillance, and defence, which presents a significant market opportunity. As the demand for UAVs continues to rise, propelled by advancements in technology and increasing applications, manufacturers recognize the potential for growth and profitability in providing propulsion systems tailored to these aircraft. Advancements in propulsion technology, such as electric propulsion, hybrid systems, and lightweight materials, have opened up new possibilities for enhancing the performance, efficiency, and reliability of UAVs. This innovation landscape encourages manufacturers to invest in research and development to stay competitive and meet evolving customer demands
Some of the key players profiled in the report are RTX (United States), Ballard Power Systems (Canada), Honeywell International Inc. (United States), LaunchPoint Electric Propulsion Solutions, Inc. (United States), UAV Engines LTD. (United Kingdom), ORBITAL CORPORATION (United States), Rotron Power Ltd. (United Kingdom), General Electric (United States), Diamond Aircraft Industries (Austria) and HIRTH ENGINES GMBH (Germany). Additionally, following companies can also be profiled that are part of our coverage like Safran SA (France), Sky Power GmbH (Germany), Schmidt Products, LLC (United States), Unmanned Systems Technology (United Kingdom) and 3W International GmbH (Germany). Analyst at AMA Research see United States Players to retain maximum share of Global UAV Propulsion System- market by 2030. Considering Market by Propulsion Type, the sub-segment i.e. Conventional Fuel will boost the UAV Propulsion System- market. Considering Market by End User Industry, the sub-segment i.e. Agriculture will boost the UAV Propulsion System- market. Considering Market by UAV Type, the sub-segment i.e. MALE (Medium-Altitude Long-Endurance) will boost the UAV Propulsion System- market.
Latest Market Insights:
In January 2023, Ondas Holdings completed the acquisition of Airobotics, a drone system and platform developer, through a merger acquisition. The integration aims to provide a comprehensive solution for unmanned autonomous vehicles (UAVs) catering to utility industrial markets and divisions specializing in wide-area private LTE and industrial IoT networking.
In February 2023, Alva Industries launched the second generation of the ALTUS X60 propulsion system with new cutting-edge features and improved reliability. The company launched the second generation of the ALTUS X60 to meet evolving market demands for enhanced performance, reliability, and innovation.
The FAA has issued a rule mandating the registration of all drones weighing more than 0.55 lbs before their operation in US airspace. This regulation necessitates that operators furnish details, including the drone's make and model, serial number, and the owner's contact information
What Can be Explored with the UAV Propulsion System- Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global UAV Propulsion System- Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in UAV Propulsion System-
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global UAV Propulsion System- market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in UAV Propulsion System- market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.