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

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