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.
According to AMA, the market for Solar-powered UAV is expected to register a CAGR of 15.2% during the forecast period to 2027.
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|Key Companies Profiled||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)|
This growth is primarily driven by Increasing Usage of Renewable Energy Sources Worldwide and Rising Demand for Improved Flight Range alongside Enhanced Endurance.
Globally, a noticeable market trend is evident Technological Advancements Surfacing in Hydrogen Fuel Cell, Photovoltaic Cell, Hybrid Propulsion System, among others
The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
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
Lack of Trained Professionals and Pilots to Manage the Functions
In some region UAV technologies is Restricted for Application Only in the Defense Industry and Government Regulations Prohibiting the Adoption of these Aerial Vehicles
Rising Demand from Emerging Economics Such as China and India
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Solar-powered UAV Market
- Analysis about New Entrants in Solar-powered UAV Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Solar-powered UAV Study Sheds Light on
The Solar-powered UAV Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Solar-powered UAV industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Solar-powered UAV industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.