Global Solar Powered UAV Market Analysis by Component, Application, Type, Region and segments forecast till 2033
Market Overview
The Global Solar Powered UAV Market is valued at USD 635.6 million in 2022 and is projected to reach a value of USD 1,022.4 million in 2033 expanding at a CAGR of 9.8% over the forecast period of 2023-2033.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 635.6 Million |
Market Forecast in 2033 | USD 1,022.4 Million |
CAGR % 2023-2033 | 9.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Component, Application, Type |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | AeroVironment Inc., Airbus S.A.S, Sunbirds SAS, Sunlight Aerospace, Thales Group, Silent Falcon., Barnard Microsystems Ltd., Lockheed Martin Corporation., DJI, Boeing. |
An UAV is defined as an unmanned aerial vehicle that can fly autonomously or remotely, that is with the use of controller. An automated UAV has increased the efficiency by eliminating the use of a drone operator. But, the limited endurance limit of such conventional drones has remained to be major issue. Also, in order to increase the endurance limit of unmanned aerial vehicles, solar-powered UAVs have been developed. These, solar-powered UAVs use photovoltaic panels to absorb sun’s energy and convert it to electrical energy. Also, such Solar-powered UAVs are extensively used in militaries, paramilitary forces, and other national security agencies and also includes a number of market applications.
The Solar-Powered UAV market has a lot of applications that includes surveillance, search & rescue operations, pollution monitoring, security, disaster management, attack missions, and intelligence gathering, among others. Also, several companies are working on possibility to use such UAVs for delivering goods that can reduce the cost of using drivers for door to door service. One of the example is of Amazon that is working on service “Prime Air,” intended to send deliveries to customers within 30 minutes. Thus, this has increased the market growth over the forecast period.
One of the major factor that has fueled the market growth over the forecast period is the technological advancements in the photovoltaic cells and also the hybrid propulsion system that has ultimately paved way in rising the endurance limit of conventional drones and also in preparing the new version called solar powered UAV. Thus, this has increased the market growth. The major challenges that have restricted the market growth of the solar powered UAV market are the dissimilar restrictions and laws and also the technical constraints over the forecast period. also, the utility of these UAVs largely depends on the restrictions and laws imposed by the government.
Component Insights
Propulsion system segment is anticipated to hold a significant share of more than 40% over the forecast period. The propulsion system segment is a key component of the solar powered UAV market, as it determines the efficiency, endurance, and performance of the UAV. The propulsion system segment can be further segmented into electric motor and fuel cell systems. The electric motor system segment dominated the market in 2020, owing to its lower cost and higher efficiency compared to fuel cell systems. However, the fuel cell system segment is expected to witness higher growth during the forecast period, owing to its ability to provide longer endurance and improved performance.
Application Insights
The commercial segment has dominated the market growth over the forecast period. The solar powered UAV market has various commercial applications, including agriculture, environmental monitoring, and telecommunications. In agriculture, solar powered UAVs can be used for crop monitoring, soil analysis, and irrigation management. The use of solar powered UAVs in agriculture can help increase crop yields, reduce water consumption, and improve overall farm efficiency. In environmental monitoring, solar powered UAVs can be used for monitoring air and water quality, as well as for detecting oil spills and other environmental hazards. The telecommunications industry can also benefit from the use of solar powered UAVs, which can be used to provide wireless coverage in remote areas, as well as for surveillance and security purposes. Overall, the commercial applications of solar powered UAVs are expected to continue to expand in the coming years, driven by the need for more efficient and cost-effective solutions for various industries.
Type Insights
The fixed- wing UAV has dominated the market growth over the forecast period. The solar powered UAV market is segmented by type into fixed-wing and rotary-wing UAVs. Fixed-wing UAVs are expected to dominate the market in terms of revenue share during the forecast period. This can be attributed to the fact that fixed-wing UAVs offer higher endurance and longer flight times compared to rotary-wing UAVs. Solar powered fixed-wing UAVs are particularly attractive for applications such as surveillance and mapping, where long endurance and extended range are critical. As a result, there is growing demand for solar powered fixed-wing UAVs in both commercial and military applications.
Regional Insights
The Global Solar Powered UAV Market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. this is because of the rising use of solar powered UAVs in the region.
Competitive Analysis
Some of the prominent companies operating in the market are AeroVironment Inc., Airbus S.A.S, Sunbirds SAS, Sunlight Aerospace, Thales Group, Silent Falcon., Barnard Microsystems Ltd., Lockheed Martin Corporation., DJI, Boeing.
• In 2019, AeroVironment, a U.S. based company that specializes in unmanned aircraft systems, announced that it had successfully completed the first flight of its new solar powered UAV, the Solar High Altitude Long Endurance Unmanned Aircraft System (Solar HALE UAS). The Solar HALE UAS is designed for high-altitude, long-endurance missions and can stay aloft for up to five days.
• In 2020, Bye Aerospace, a U.S. based company that specializes in electric and solar-powered aircraft, announced that it had received an order for its new solar-electric unmanned aerial vehicle, the Solesa from SolAero Technologies Corp. The Solesa is designed for high-altitude, long-endurance missions and is powered by solar panels on its wings.
Global Solar Powered UAV Market- Segmental Analysis
Based On Type:
• Fixed- Wing UAV
• Multi Rotor UAV
• Others
Based On Application:
• Commercial
• Defence and Military
• Other
Based On Component:
• Propulsion system
• Airframe
• Guidance navigation and control system
• Payload
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Solar Powered UAV Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Solar Powered UAV Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Card Type/Card Type
• Company Share Analysis by Product/Specification
1.
Global Solar Powered UAV Market
Introduction and Market Overview
1.1. Objectives
of the Study
1.2. Solar Powered UAV Market Definition & Description
1.3. Global
Solar Powered UAV Market Scope and Market Estimation
1.3.1. Global
Solar Powered UAV Market Size, Revenue (US$ Mn), Market CAGR (%), Market
forecast (2023-2033)
1.3.2. Global
Solar Powered UAV Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Type
of Global Solar Powered UAV Market
1.4.2. Application
of Global Solar Powered UAV Market
1.4.3. Component
of Global Solar Powered UAV Market
1.4.4. Region of Global Solar Powered UAV Market
2.
Executive
Summary
2.1. Global
Solar Powered UAV Market
Industry Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Solar
Powered UAV Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region
3. Global Solar Powered UAV Market Estimates & Historical Trend Analysis (2020 - 2022)
4.
Global
Solar Powered UAV Market Estimates &
Forecast Trend Analysis, By Type
4.1. Global
Solar Powered UAV Market Revenue (US$ Mn) Estimates and Forecasts, By Type, 2023
to 2033
4.1.1. Fixed-
Wing UAV
4.1.2. Multi
Rotor UAV
4.1.3. Others
5.
Global
Solar Powered UAV Market Estimates &
Forecast Trend Analysis, By Application
5.1. Global
Solar Powered UAV Market Revenue (US$ Mn) Estimates and Forecasts, By Application,
2023 to 2033
5.1.1. Commercial
5.1.2. Defence
and Military
5.1.3. Other
6.
Global
Solar Powered UAV Market Estimates &
Forecast Trend Analysis, By Component
6.1. Global
Solar Powered UAV Market Revenue (US$ Mn) Estimates and Forecasts, By Component,
2023 to 2033
6.1.1. Propulsion
system
6.1.2. Airframe
6.1.3. Guidance
navigation and control system
6.1.4. Payload
7.
Global
Solar Powered UAV Market Estimates &
Forecast Trend Analysis, By Region
7.1. Global
Solar Powered UAV Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023
to 2033
7.1.1. North
America
7.1.2. Europe
7.1.3. Asia
Pacific
7.1.4. Middle
East & Africa
7.1.5. South America
8.
North
America Solar Powered UAV Market:
Estimates & Forecast Trend Analysis
8.1. North
America Solar Powered UAV Market Assessments & Key Findings
8.1.1. North
America Solar Powered UAV Market Introduction
8.1.2. North America
Solar Powered UAV Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
8.1.2.1. Based On Type
8.1.2.2. Based On Application
8.1.2.3. Based On Component
8.1.2.4. By
Country
8.1.2.4.1. The
U.S.
8.1.2.4.2. Canada
8.1.2.4.3. Mexico
9.
Europe
Solar Powered UAV Market: Estimates
& Forecast Trend Analysis
9.1. Europe
Solar Powered UAV Market Assessments & Key Findings
9.1.1. Europe
Solar Powered UAV Market Introduction
9.1.2. Europe
Solar Powered UAV Market Size Estimates and Forecast (US$ Million) (2023 to
2033)
9.1.2.1. Based On Type
9.1.2.2. Based On Application
9.1.2.3. Based On Component
9.1.2.4. By
Country
9.1.2.4.1. Germany
9.1.2.4.2. U.K.
9.1.2.4.3. France
9.1.2.4.4. Italy
9.1.2.4.5. Spain
9.1.2.4.6. Russia
9.1.2.4.7. Rest of Europe
10. Asia Pacific Solar Powered UAV Market: Estimates &
Forecast Trend Analysis
10.1. Asia
Pacific Market Assessments & Key Findings
10.1.1. Asia
Pacific Solar Powered UAV Market Introduction
10.1.2. Asia
Pacific Solar Powered UAV Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
10.1.2.1. Based On Type
10.1.2.2. Based On Application
10.1.2.3. Based On Component
10.1.2.4. By
Country
10.1.2.4.1.
China
10.1.2.4.2.
Japan
10.1.2.4.3.
India
10.1.2.4.4.
Australia
10.1.2.4.5.
South Korea
10.1.2.4.6.
ASEAN
10.1.2.4.7. Rest of Asia Pacific
11. Middle East & Africa Solar Powered UAV Market: Estimates &
Forecast Trend Analysis
11.1. Middle
East & Africa Market Assessments & Key Findings
11.1.1. Middle
East & Africa Solar Powered UAV
Market Introduction
11.1.2. Middle
East & Africa Solar Powered UAV Market Size Estimates and
Forecast (US$ Million) (2023 to 2033)
11.1.2.1. Based On Type
11.1.2.2. Based On Application
11.1.2.3. Based On Component
11.1.2.4. By
Country
11.1.2.4.1. U.A.E.
11.1.2.4.2. Saudi
Arabia
11.1.2.4.3. Egypt
11.1.2.4.4. South
Africa
11.1.2.4.5. Rest of Middle East & Africa
12. South America Solar Powered UAV Market: Estimates &
Forecast Trend Analysis
12.1. South
America Market Assessments & Key Findings
12.1.1. South
America Solar Powered UAV Market Introduction
12.1.2. South
America Solar Powered UAV Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
12.1.2.1. Based On Type
12.1.2.2. Based On Application
12.1.2.3. Based On Component
12.1.2.4. By
Country
12.1.2.4.1. Brazil
12.1.2.4.2. Argentina
12.1.2.4.3. Colombia
12.1.2.4.4. Rest of South America
13. Competition Landscape
13.1. Global
Solar Powered UAV Market Competition Matrix & Benchmarking, by Leading
Players / Innovators / Emerging Players / New Entrants
13.2. Global Solar Powered UAV Market Concentration & Company Market Shares (%) Analysis, 2022
14. Company Profiles
14.1. AeroVironment Inc.
14.1.1. Company
Overview & Key Stats
14.1.2. Financial
Performance & KPIs
14.1.3. Product
Portfolio
14.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
14.2. Airbus S.A.S
14.3. Sunbirds SAS
14.4. Sunlight Aerospace
14.5. Thales Group
14.6. Silent Falcon.
14.7. Barnard Microsystems Ltd.
14.8. Lockheed Martin Corporation.
14.9. DJI
14.10. Boeing.
14.11. Others**
15. Research Methodology
15.1. External
Transportations / Databases
15.2. Internal
Proprietary Database
15.3. Primary
Research
15.4. Secondary
Research
15.5. Assumptions
15.6. Limitations
15.7. Report FAQs
16. Research Findings & Conclusion
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