Solar-powered Drones Market: Introduction
- Solar-powered drones, also termed as solar-powered unmanned aerial vehicles (UAVs), are airborne vehicles that utilize solar energy for propulsion. These vehicles are piloted by operators by using remote control or autonomously by onboard computers.
- Currently, a very few countries are engaged in developing solar-powered drones and a limited number of end-users are procuring them. However, beneficial features of these drones coupled with their capability to cater to an extensive range of applications are likely to augment the demand for these drones in the next few of years.
To obtain all-inclusive information on forecast analysis of global Solar-powered Drones Market, request a Report Brochure here.
Key Drivers of Solar-powered Drones Market:
- Increasing awareness regarding the use of solar energy and favorable initiatives toward promotion of renewable energy are major factors driving the global solar-powered drones market
- Moreover, increasing use of solar-powered drones for various security and surveillance activities across the globe is likely to fuel the demand for these drones in the next few years
- Reliable and high-speed Internet connectivity has become essential across the globe. It is currently limited to urban areas only. Initiatives taken by network providers to connect remote rural areas with high-speed Internet and expansion of the consumer base are expected to drive the global solar-powered drones market during the forecast period.
- However, high initial investments and lack of skilled professionals are major factors restraining the global solar-powered drones market
Government & Defense Segment to Witness Attractive Opportunities
- The global solar-powered drones market can be segmented in terms of type, application, and region
- In terms of type, the global market can be classified into fixed-wing drones, multi-rotor drones, and others. The fixed-wing drones segment dominated the global solar-powered drones market in 2018. These drones are extensively used in military operations. Its aerodynamics allow the drone to be used for mapping urban and remote areas.
- Based on application, the global solar-powered drones market can be segmented into agriculture, energy, government & defense, telecommunication, and others. The government & defense segment dominated the global market in 2018, to owing to high usage of solar-powered drones in surveying and mapping.
North America to Hold a Major Share of Global Solar-powered Drones Market
- Based on region, the global solar-powered drones market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global market in 2018 and the trend is estimated to continue during the forecast period. High expenditure and technological advancements and the large number of deployments of UAVs are driving the market in the region. Demand for UAVs in the U.S. is very high, primarily for use in surveillance.
- The U.S. is also the largest manufacturer of unmanned systems across the world. Moreover, companies in the country are focusing on development of high-altitude pseudo-satellites (HAPSs) for enhancing connectivity.
- The market in Asia Pacific is expected to expand at the maximum CAGR during the forecast period. China, Japan, and Australia are major contributors, in terms of revenue, to the solar-powered drones market in Asia Pacific. Europe is expected to contribute significantly to the global solar-powered drones market during the forecast period.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Solar-powered Drones Market here
Key Players Operating in Global Solar-powered Drones Market:
The global solar-powered drones market is highly concentrated, with top manufacturers accounting for approximately 40%–45% share of the market. A few of the key players operating in the global solar-powered drones market are:
- AeroVironment, Inc.
- Airbus SE
- Silent Falcon UAS Technologies
- Sunlight Photonics Inc.
- Thales Group
- Titan Aerospace
- In January 2018, AeroVironment, Inc. entered into a joint venture with SoftBank Corp., a Japan-based telecommunications company, in order to develop a solar-powered, high-altitude long-endurance (HALE), unmanned aircraft for use in commercial operations
- In November 2016, Sunbirds launched SB4-Phoenix, a commercial solar drone that weighs 3 kilograms and that has a wingspan of 3 meters. SB4-Phoenix suitable for use in applications such as infrastructure surveillance and precision agriculture .
- BAE Systems and Prismatic, two U.K.-based aerospace firms, are developing a drone capable of remaining in the sky for an entire year. The drone can be described as a high-altitude long-endurance (HALE) unmanned aerial vehicle (UAV). Called PHASA-35 (Persistent High Altitude Solar Aircraft-35), the drone would be fitted with lithium-ion batteries and ultra-lightweight gallium arsenide solar cells to allow it to remain at altitudes between 55,000 feet and 70,000 feet for up to 12 months. The battery of this drone is to be charged during the day by using solar power, which allows it to function throughout the night.
Global Solar-powered Drones Market: Research Scope
Global Solar-powered Drones Market, by Type
- Fixed-wing Drones
- Multi-rotor Drones
Global Solar-powered Drones Market, by Application
- Government & Defense
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.