Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global UAV propulsion system market anticipated fuelling due to the surge in demand for UAV in high-tech regional wars, and the complex counterinsurgency, intelligence, surveillance, and counter-terrorism operations
Global UAV propulsion system market anticipated growing with a CAGR of over 13.7% during 2020-2027. The primary factors are the rise in demand for lightweight; more fuel-efficient engines permit usage of expensive payload for a given mission without significantly affecting the size and cost of the UAV. Additionally, the shift towards the development of fuel cell and solar power, which are a viable alternative to small internal combustion engines, given their low heat and noise profile will propel the growth of the UAV propulsion system market in the future periods. Further, the growing usage of fuel-cell based for its improved reliability over small internal combustion engines and enhancing safe and low maintenance operation is strengthening the market growth. The rising application of UAVs for surveillance and attack purposes, along with the increasing demand for spare parts of the propulsion system is anticipated to boost the growth of the market.
Moreover, the upsurge in the popularity of UAVs across the globe for industry verticals, such as aerial photography, express shipping, and delivery, gathering information or supplying essentials for disaster management, geographical mapping of inaccessible terrain and locations, building safety inspections, precision crop monitoring, unmanned cargo transport, etc., expected to drive the market growth. The growing demand for UAV propulsion for reducing cost with superior performance, including improving aircraft range, reliability, and durability of the propulsion system, will trigger the global UAV propulsion system market size. Also, the increasing demand for hydrogen fuel cells in smaller drones to improve their efficiency in terms of weight/power ratios is increasing, which is estimated to boom the growth of the UAV propulsion system industry.
Engine Type Overview in the Global UAV Propulsion System Market
Based on engine type, the global UAV propulsion system market classified into electric propulsion systems, thermal propulsion systems, and hybrid propulsion systems. The electric propulsion systems segment is likely to lead the market by 2027. It is owing to the electric propulsion provides more flexibility in the installation of machinery as they are compact, and the absence of several moving components of the drivetrain, they weigh less and hence contribute toward weight savings and endurance enhancement of a particular UAV model.
UAV type Overview in the Global UAV Propulsion System market
Based on UAV type, the global UAV Propulsion System market segregated into Micro UAV, Mini UAV, Tactical UAV, MALE UAV, and HALE UAV. The tactical UAV segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to the growing demand for tactical UAV by armies for competitive advantage for them in the battlefield such as target designation, strike, chemical-bio detection, mine countermeasures, theater air missile defense, electronic warfare, and information warfare.
Range Overview in the Global UAV Propulsion System Market
Based on range, the global UAV propulsion system market classified into a long-range, mid-range, and short-range. The long-range segment projected to lead the market by 2027. It is due to the long-range UAV useful in precision agriculture, aerial mapping, security surveillance, disaster relief humanitarian aid, etc.
End-User Overview in the Global UAV Propulsion System Market
By the end-user, the global UAV propulsion system market categorized into Military & Civil, Commercial, and Consumers. The Commercial segment will be the fastest-growing segment owing to the growing application across the entertainment, agriculture, and energy sector and ability to perform hazardous tasks, such as inspecting utility pipelines, with higher precision and cost-effectiveness.
Regional Overview in the Global UAV Propulsion System Market
By geography, the global UAV propulsion system market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the presence of prominent players and the surge in the adoption of UAVs in the military for performing intelligence, surveillance, and reconnaissance missions.
Global UAV Propulsion System Market: Competitive Landscape
Companies such as Ballard Power Systems Inc., LaunchPoint Technologies Inc., Northwest UAV, ORBITAL CORPORATION, Rotron Power Ltd., Safran SA, Hirth Engines GmbH (UMS SKELDAR AG), Honeywell International Inc., Rolls-Royce plc, BRP-Rotax GmbH & Co KG, MicroMultiCopter Aero Technology Co., Ltd., Sky Power GmbH, UAV Propulsion Tech, and UAV Turbines, Inc., are the key players in the global UAV propulsion system market.