Solar Powered UAV Market Brought Tremendous Growth in Aerospace Industry: Complete Study of Current Trends and Competitor Analysis like AeroVironment, Airbus SE, Facebook, Silent Falcon UAS Technologies, Sunbirds, Sunlight Photonics Forecast 2019-2023

“The Global Solar-Powered Uav Market is estimated to grow at a CAGR over 13% during the forecast period of 2017-2023.” - Global Solar Powered UAV Market by Application (Defense and Commercial), Type (Fixed-Wing and Other Types), Component (Propulsion System, Airframe, Guidance Navigation & Control System, and Payload), and by Region - Forecast to 2023

For the study, the solar powered UAV market is segmented into application, type, component, and region.

In terms of application, defense segment accounted for the largest market share of 61.53% in 2016, with a market value of USD 365.3 million, which is projected to witness a CAGR of 13.96% during the forecast period.

On the basis of type, fixed-wing segment accounted for the largest market share of 80.15% in 2016, with a market value of USD 475.8 million, which is projected to witness a CAGR of 14.60% during the forecast period.

In terms of component, propulsion system segment accounted for the largest market share of 40.18% in 2016, with a market value of USD 238.5 million, which is projected to witness a CAGR of 14.21%.

Solar Powered UAV Market

Solar Powered (UAV) Unmanned Aerial Vehicles, also termed as solar powered UAVs or solar powered drones, are airborne vehicles that utilize solar energy for propulsion. These vehicles are piloted by operators using remote control or autonomously by onboard computers.

Typically developed for defense requirements, UAVs are rapidly expanding their reach to commercial, industrial, scientific, recreational, agricultural, and other applications. Currently, only a handful of countries are developing solar powered UAVs and a limited number of end-users are procuring it. However, aspects such as beneficial features of these UAVs coupled with their capability to cater to a wide range of applications are expected to generate tremendous demand in the next couple of years.

Over the past few years, the UAV industry has been tremendously influenced by copious changes in technology. Few companies are using this technology to develop UAVs with enhanced range and endurance for surveillance and related purposes, while others are focusing on utilizing them to beam internet connectivity across the world.

In either case, there is a huge scope for the solar powered UAV market in the near future. Moreover, the end-users are exploring new and different possibilities, right from using them for delivering goods to monitoring glaciers in the polar regions, tackling the refugee crisis, and so on.

On the basis of region, the market has been segmented into the following regions, namely North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share of 34.90% in 2016, with a market value of USD 207.2 million and is projected to witness a CAGR of 14.80% during the forecast period.

The region also leads the global market in terms of expenditure and technological advancements and has a large number of deployments of UAVs in vulnerable regions. The U.S. generates very high demand for UAVs used for surveillance purposes. Though Canada made some considerable investments in the development of UAVs, the market is primarily dominated by the U.S. The U.S. is also the largest manufacturer of unmanned systems, globally. The necessity for continual and superior ISR capability by the armed forces has stimulated the U.S. to invest substantially in UAVs and related technologies. Moreover, companies in this region are focusing on developing High Altitude Pseudo-Satellite (HAPS) for enhancing connectivity.

Solar Powered UAV Market Key Players:

Few key active players of solar powered UAV market are AeroVironment, Inc. (U.S.), Airbus SE (France), Facebook, Inc. (U.S.), Silent Falcon UAS Technologies (U.S.), Sunbirds (France), Sunlight Photonics Inc. (U.S.), and Thales Group (France).

Industry News:

In December 2017, Airbus signed a MoU with Williams Advanced Engineering to combine Williams’ expertise in lightweight composites and battery with Airbus‘s Zephyr High Altitude Pseudo-Satellite (HAPS) program.

In August 2016, Silent Falcon established distribution partnership with three companies, namely, Astrike Technologies SAS (Colombia), Syber Quest Aerospace Sdn Bhd (Malaysia), and USA Indian Aerospace Development Corporation, LLC (U.S. & India) to represent Silent Falcon UAS in their respective regions.

In July 2015, Facebook unveiled its first full-scale solar powered UAV Aquila, which is designed to provide internet access to remote areas.

In November 2016, Sunbirds launched SB4-Phoenix drone, a commercial solar drone that weighs 3kg and has a wingspan of 3m, suitable for infrastructure surveillance and precision agriculture, among other applications.

In April 2016, Thales officially started the Stratobus research & development project with funding of 17 million euros from the French Government.

Hence, the solar powered UAV market is estimated to reach USD 1,519.8 million by 2023 at a CAGR of 14.38% during the forecast period.

Global Solar Powered UAV Market Research Report: Information by Application (Defense and Commercial), Type (Fixed-Wing and Other Types), Component (Propulsion System, Airframe, Guidance Navigation & Control System and Payload) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2025 @ https://www.marketresearchfuture.com/reports/solar-powered-uav-market-5856