DUBLIN–(BUSINESS WIRE)–The “Electric Unmanned Aerial Vehicle Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The Electric Unmanned Aerial Vehicle (E-UAV) Market is anticipated to register a CAGR of over 12% during the forecast period.
- Aeronautics Ltd.
- Airbus SE
- AeroVironment Inc.
- AgEagle Aerial Systems, Inc.
- SZ DJI Technology Co., Ltd.
- Bye Aerospace
- Draganfly Inc.
- Elbit Systems Ltd.
- FLIR Systems, Inc.
- Impossible Aerospace Corp.
- Intel Corporation
- Lockheed Martin Corporation
- MicroMultiCopter Aero Technology Co., Ltd
- Parrot Drones SAS
- Raytheon Technologies Corporation
- Sunlight Aerospace
- Thales Group
- Xiaomi Corporation
Key Market Trends
Preferred Integration of Alternative Power Systems for UAVs
The continuous use of such non-renewable energy sources such as gasoline and jet fuel makes them scarce and expensive owing to their limited supply. Hence, owing to the depletion of fossil fuels, researchers are looking for alternative sources of fuel that will help power UAVs. The continuous improvement in technology and involvement from various industry leaders have made the development of fuel cells for UAV successful. For instance, China-based MicroMultiCopter Aero Technology developed a military drone, HyDrone 1800, which features a next-gen hydrogen technology that allows it to operate in extreme weather conditions with efficiency. The drone performs functions, such as intelligence gathering, border patrol, aerial fire support, laser designation, and battle management services. The inclination toward deploying UAVs has also contributed to the growth of solar-powered UAVs.
Various defense contractors across the globe have either developed or are on the verge of developing necessary capabilities to offer solar-powered UAVs that can augment the existing intelligence competencies of military organizations. Moreover, the defense departments of various countries are taking key interests in the advancement of solar-powered UAVs. For instance, in May 2016, the France MoD granted USD 18.95 million to Thales Alenia Space (a subsidiary of Thales) for the development of stratospheric HALE remotely controlled solar-powered airship. Similarly, in February 2016, the UK MoD signed a contract of USD 15.21 million with the Airbus Defence and Space, a business segment of Airbus, for the procurement of two solar-powered HAPS UAVs, namely Zephyr 8. Such contracts are expected to drive the development of alternative power systems for UAVs that can deliver next-generation battlefield intelligence capabilities to the military forces.
North America to Dominate the Market During the Forecast Period
The vast expanse of geographic national borders of countries such as the US necessitates deployment of UAVs to ensure continuous coverage in the regions that are unreachable by patrol forces. The need has resulted in a subsequent increase in demand for E-UAVs with enhanced endurance and lower operational costs to fulfill the operational requirements of the US border patrol forces. Furthermore, the significant deployment of tactical UAVs in military and defense applications has resulted in increased procurement of small UAVs. Since small UAS are powered by some sort of electric power system, the augmented procurement rate would drive the E-UAV market in the region.
The US military and its partners are widening their scope of drone operations to include logistics missions such as resupply to forces in enemy territories or remote locations. Unique design features are empowering alternative uses for UAVs. The US Department of Defense (DoD) and National Aeronautics and Space Administration (NASA) are investing heavily in the R&D of advanced engine and associative components for military UAVs, which will replace the existing propulsion systems. The growing demand for UAVs has resulted in the emergence of several business opportunities in the region and numerous contracts are being handed out to cater to the broad clientele.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.2.1 North America
5.2.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/epo65y
Laura Wood, Senior Press Manager
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