Unmanned aerial vehicles are defined as remotely piloted aircrafts or drones. A solar-powered unmanned aerial vehicle uses limitless power source in case of electrical systems including propulsion systems. Solar radiation gets converted to electric power using photovoltaic cells, and then the electric motor converts it to kinetic energy.
One of the key factors driving the growth of the global solar-powered unmanned aerial vehicles (UAVs) market is the improved flight range alongside enhanced endurance. The acceptance of solar-powered drones in civil and commercial applications has raised the use of present technologies. The limited endurance capacity of conventional drones remains to be a chief issue in case of commercial drones.In order to mitigate this restraint, government agencies collaborated with defense contractors for developing solar-powered UAVs which can fly over jet stream. Therefore, solar-powered UAVs are extremely vital in unsafe missions with manned aircrafts. Another driving force for this market is the enhanced security and surveillance activities.
However, there are certain restraining factors which are hindering the growth of the solar-powered UAV market. The challenges include dissimilar restrictions and laws, technical constraints, and deferred or withdrawn funds. The utility of solar-powered drones depends largely on the restrictions and laws of the nation where these UAVs are operated. Commercial bodies such as agriculture, entertainment, telecommunications, real estate and journalism, and governments among others have focused on the commercial feasibility of using solar-powered drones. Besides, in several regions across the globe, superior quality internet services coverage is restricted to urban sections of the society. Of the world population, only about a third makes use of internet services.
In spite of the restraints, innovative technologies have entered the global solar-powered UAV market in the recent past. Over the last decade, hydrogen fuel and photovoltaic cells, and hybrid electric propulsion engines have been used increasingly used for powering these solar UAVs. Another emerging opportunity that is propelling the growth for this marketis the initiative for connecting remoteareas. Internet services has become a necessary condition all over the world. Besides, as human needs rise, the quality of these services is expected to be enhanced further. Another key opportunity lies in the escalating deployment of solar-powered UAVs in emerging economies.
The global solar-powered UAV market is segmented on the basis of application and geography. On the basis of application, the market is segmented into civil and commercial, and defense and military. Out of these two applications, defense and military accounts for the larger market share, because of the use of solar-powered UAVsin search and rescue operations, pollution monitoring, security, disaster management, attack missions, and communications applications. The civil and commercial segment grows at a faster rate, owing to the use in professional aerial photography and surveillance, agriculture, data collection, recreation and hobby, motion pictures filmmaking, journalism, law enforcement, scientific research, conservation, anti-poaching activity, mineral, oil and gas production and exploration, disaster relief, archaeology, passenger transport, and cargo transport.
According to geography, the global solar-powered UAV market is divided into North America, Europe, Asia pacific, the Middle East and Africa, and Latin America. Of late, the Americas have dominated the global market. In the U.S., solar-powered UAVs are mainly used for defense andmilitary applications. Besides, major nations in the North America and Latin America regions such as Canada, Mexico, and Brazil have been expanding their solar-powered UAV capacities. The U.S. has been dominating this market because of high investment from the NASA, and the Department of Defense for numerous projects.
The key players in the global solar-powered UAV market are Airbus, AeroVironment, Alphabet, Lockheed Martin, Facebook, Thales, AC Propulsion, Silent Falcon UAS, Boeing, DJI, Sunlight Photonics, and Barnard Microsystems among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.