Lucintel's latest market report analyzed that UAV propulsion system provides attractive opportunities in the military and civil, commercial, and consumer market. The UAV propulsion system market is expected to reach $XX billion by 2028 with a CAGR of 12% to 14%. In this market, electric propulsion system is the largest segment by propulsion type, whereas military and civil is largest by end use industry. Development of new-generation UAV engines and growing investment for R&D activities provides strategic growth path in this market.
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Based on propulsion type, the UAV propulsion system market is segmented into electric propulsion system, thermal propulsion system, and hybrid propulsion system. The electric propulsion system segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the various benefits such as, lower carbon emission, less maintenance cost, less noise generation, and low cost.
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The UAV Propulsion System Market is marked by the presence of several big and small players. Some of the prominent players offering UAV propulsion system include Ballard Power Systems, LaunchPoint Technologies, Northwest UAV, ORIBTAL, Rotron Power, Safran SA, Sky Power GmbH, UAV Propulsion Tech, UAV Turbines, and GE Aviation.
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