Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Solar-Powered UAV Market by Type, Range, Component, Mode of Operation and Application" report has been added to ResearchAndMarkets.com's offering.
The global solar-powered UAV market size reached US$ 331.6 Million in 2022. Looking forward, the analyst expects the market to reach US$ 620.3 Million by 2028, exhibiting a CAGR of 11% during 2022-2028.
Companies Mentioned
- BAE Systems Plc
- Barnard Microsystems Ltd
- Eos Technologie
- Sunlight Aerospace
- UAV Instruments S.L
- Xsun
The increasing demand for drone services for various commercial applications, the recent development of UAV drones for asset management, tracking enemies' movements and performing dangerous battlefield surveillance operations in the defense sector, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Solar-powered unmanned aerial vehicle (UAV) refers to high-altitude pseudo-satellites or drones specially designed to receive power directly from the sun for performing continuous stratospheric operations for a longer duration. It can be operated autonomously without any human intervention even from a remote location by utilizing limitless propulsion systems.
It further comprises a range of solar-powered cells that are unified with the vehicle to capture solar energy during the day and generate and recharge the battery on board to provide power in night-time flights. As compared to traditional UAVs, it offers better stability, higher flight altitude, larger coverage area, and superior load capacity.
Along with this, it provides environmental protection, improves employee safety, monitors ecological damages, and minimizes the need for human transportation procedures. As a result, the solar-powered UAV finds extensive application in the surveillance and rescue operations, pollution monitoring, disaster management, attack missions, and intelligence-gathering operations.
The increasing demand for drone services for various commercial applications, including resource exploration and climate monitoring, represents a prime factor driving the market growth. In line with this, significant improvements in the military and defense sector and the recent development of UAV drones for asset management and performing dangerous battlefield surveillance operations are acting as another growth-inducing factor.
This is further supported by the favorable investments being made by the governments of different nations to enhance their military capabilities. Additionally, the extensive usage of solar-powered UAVs in the agricultural sector over traditional surveying methodologies to analyze crop growth, climatic conditions, spray fertilizers, and track soil conditions is favoring the market growth.
Solar-powered UAVs are further employed to assess the ecological damage and active risks, perform weather forecasting, and minimize the adverse effects of potential danger in the mining industry to improve workers safety, which is supporting the market growth.
Moreover, the escalating usage of photovoltaic (PV) cells and hybrid-electric propulsion engines to improve the vessel performance at lower maintenance costs is propelling the market growth. Apart from this, significant technological advancements, such as the integration of image-transmitting systems and strategic collaborations amongst key players, are positively impacting the market growth.
Key Questions Answered in This Report:
- How has the global solar-powered UAV market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global solar-powered UAV market?
- What are the key regional markets?
- Which countries represent the most attractive solar-powered UAV markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the range?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the mode of operation?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global solar-powered UAV market?
- Who are the key players/companies in the global solar-powered UAV market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar-powered UAV Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Fixed Wing Drones
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Multirotor Drones
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Quadcopter Drones
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Range
7.1 Less Than 300 KM
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 More Than 300 KM
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Component
8.1 Propulsion System
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Airframe
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Guidance Navigation
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Control System
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Payload
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Mode of Operation
9.1 Semi-Autonomous
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Autonomous
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Application
10.1 Defense
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Commercial
10.2.1 Market Trends
10.2.2 Market Forecast
11 Market Breakup by Region
12 Drivers, Restraints, and Opportunities
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/limrbb
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