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Solar Powered UAV Market Size, Industry Analysis By Type (Fixed-Wing UAV, Multi Rotor UAV) By Application (Commercial, Defence And Military), By Component (Propulsion System, Airframe, Payload) & Region - Forecast

  • PUBLISHED ON
  • 2022-02-08
  • NO OF PAGES
  • 231
  • CATEGORY
  • Energy & Power

 

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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Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

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Market Estimates and Forecast

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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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