IMARC Group, a leading market research company, has recently releases report titled “Solar-Powered UAV Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global solar-powered uav market trends, growth, share, size, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Solar-Powered UAV Market
Solar-powered unmanned aerial vehicles (UAVs) represent high-altitude pseudo-satellites or drones mainly designed to obtain power directly from the sun to perform continuous stratospheric operations for a longer period. It contains a range of solar-powered cells that are unified with the vehicle to capture radiant light during the day and generate and recharge the battery on board to provide energy in nighttime flights. Solar-powered UAVs offer better stability, higher flight altitude, larger coverage area, and superior load capacity. Consequently, it finds extensive application in surveillance and rescue operations, disaster management, attack missions, and intelligence-gathering operations.
How Big Is the Solar-Powered UAV Market?
The global solar-powered uav market size reached US$ 331.6 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 620.3 Million by 2028 exhibiting a CAGR of 10.3% during 2023-2028.
Solar-Powered UAV Market Trends and Drivers:
The escalating demand for drone services in numerous commercial applications, including resource exploration and climate monitoring, is among the key elements stimulating the solar-powered UAV market. Moreover, several improvements in the military and defense sector are acting as significant growth-inducing factors. Besides this, the rising usage of solar-powered UAVs in the agricultural sector to analyze crop growth, climatic conditions, spray fertilizers, and track soil conditions is also propelling the market growth. Furthermore, the widespread adoption of high-altitude pseudo-satellites to assess the ecological damage and active risks, and minimize the adverse effects of potential danger in the mining sector to improve workers safety is positively influencing the global market. Apart from this, the growing usage of photovoltaic (PV) cells and hybrid-electric propulsion engines to enhance vessel performance at lower maintenance costs is further fueling the market growth. Additionally, various technological advancements, such as the increasing integration of image-transmitting systems and strategic collaborations amongst key players, are anticipated to fuel the solar-powered UAV market over the forecasted period.
Global Solar-Powered UAV Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: BAE Systems Plc, Barnard Microsystems Ltd, Eos Technologie, Sunlight Aerospace, UAV Instruments S.L, Xsun.
The report segmented the market based on type, range, component, mode of operation and application.
Type Insights:
- Fixed Wing Drones
- Multirotor Drones
- Quadcopter Drones
Range Insights:
- Less Than 300 KM
- More Than 300 KM
Component Insights:
- Propulsion System
- Airframe
- Guidance Navigation
- Control System
- Payload
Mode of Operation Insights:
- Semi-Autonomous
- Autonomous
Application Insights:
- Defense
- Commercial
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa