Solar Powered UAV Market Description
UAV’s are an automated aerial vehicle that can fly autonomously or remotely with the help of a remote controller. It is also known as drone, an aircraft without any human pilot, crew or passenger on board. The UAV’s are controlled by ground-based remote or a digital system of communication.
Solar UAV’s are powered via energy captured via solar power reaching the aircraft surface during sunlight. The solar cells installed inside the aircraft absorb the cosmic energy and restore to propel the engine in the darkness. However, limited endurance of such engines is restraining factor. Thus, considering this fact, solar powered UAV’s have been developed. The solar powered UAV’s use photovoltaic panels to absorb energy from sun and convert it into electrical energy.
Such aerial vehicles are extensively used in military sectors by para military forces and other national security agencies. These engines function for various military activities such as surveillance, search and rescue operations, security, disaster management, attack missions, intelligence gathering. This device is also used for environmental observation such as pollution monitoring.
Presently, many companies use this automated aerial vehicle for delivering goods to consumers which has good traction.
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Market Description & Overview
The Global Solar Powered UAV Market is expected to observe an extensive expansion with a CAGR of 9.69% during the forecasted period of 2021 to 2030. According to market specialists, the global solar powered UAV market is expected to witness a significant growth by 2030. The Global solar powered UAV market is poised to expand to USD 820.59 million by the end of 2030 which was earlier cherished at USD 325.43 million in 2020.
However, due to the latest pandemic of Covid-19, the research and development of this market was hampered very badly.
Rise in commercial use of solar powered vehicles along with civil applications is driving the market. Currently various vendors are actively using the solar powered automated drones for providing door-to-door delivery service. This unique process of delivery is proving lucrative for the market. High usage of drones in military field is also a factor is driving the market.
Apart from their use in military and defence sector the UAV’s have also proved to be effective for monitoring and mapping thousands of hectares of farmlands. With such versatile usage the market is expected to thrive during the forecasted period.
Market Segmentation
The Global Solar Powered UAV Market is segmented into Type, Application, Component.
Type
The market is further segmented on Type as
- Fixed- Wing UAV
- Multi Rotor UAV
- Others
Here, the Fixed Wing UAV section is anticipated to display highest growth during the forecasted period.
Application
The market is further segmented on Application as
- Commercial
- Defence and Military
- Other
The Commercial section is anticipated to dominate the market during the forecasted period.
Component
The market is further segmented on Component as
- Propulsion system
- Airframe
- Guidance navigation and control system
- Payload
Geographical Analysis
On the basis of regions, the market covers major five countries such as North America, Europe, Asia-pacific, Middle East and Africa. Among these, North American market is marked as dominant region with rising use of powered UAV’s in this region.
Market Key players
Key players are considered to be the pillars of market. The key players comprise of investors and intermediaries. The global solar powered UAV market is highly competitive and has witnessed growing competition between vendors. The primary market players focus on the development of this market, while a few other recognized vendors are approaching integration with value-added products for electronic industry.
Some of the leading market player includes AeroVironment Inc., Airbus S.A.S, Sunbirds SAS, Sunlight Aerospace, Thales Group, Silent Falcon., Barnard Microsystems Ltd., Lockheed Martin Corporation., DJI, Boeing.
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Scope Of The Report:
Historical Year- 2018-2021
Global Solar Powered UAV Market: Industry and Forecast Year- 2022-2030
Global Solar Powered UAV Market: Segments covered- type, application, component, region
Global Solar Powered UAV Market: Regions covered- North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Global Solar Powered UAV Market: Companies covered- AeroVironment Inc., Airbus S.A.S, Sunbirds SAS, Sunlight Aerospace, Thales Group, Silent Falcon., Barnard Microsystems Ltd., Lockheed Martin Corporation., DJI, Boeing.
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