Global Solar Powered UAV Market Research Report – Forecast to 2023

Description

Solar powered 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. Companies developing solar powered UAVs mainly target the connectivity, agriculture, infrastructure & landscape monitoring, and utility sectors. 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 its capability to cater a wide range of applications are expected to generate tremendous demand during the forecast period. Factors such as advancement in battery and solar cell technology, economies of scale, improved endurance with enhanced flight range, falling costs, and focus on environmental conservation have made solar UAVs suitable for commercial applications. Meanwhile, weather dependency of solar powered UAVs, rising UAV incidents, and absence of tighter regulations related to drone operations are hindering the market growth. However, the growing recognition of the significance of solar powered UAVs usage in the renewable energy sector and focus on enhancing connectivity solutions offers a huge opportunity for the market.

Regional Analysis
The global solar powered UAV market is estimated to witness 14.38% CAGR during the forecast period, 2017-2023. In 2016, the market was led by North America with 34.90% share, followed by Europe and Asia Pacific with shares of 29.24% and 25.59%, respectively. The Asia Pacific region is becoming a lucrative region for the firms that provide solar powered UAVs, due to the significant demand from both defense and commercial sectors in countries such as China and South Korea. Meanwhile, North America dominated the solar powered UAV market in 2016, due to the increasing applications of UAVs in the military, homeland security, as well as commercial areas. 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 the UAVs and related technologies. Moreover, companies in this region are focusing on developing High Altitude Pseudo-Satellite (HAPS) for enhancing connectivity. Therefore, it is expected that the market in North America would witness a CAGR of 14.80%, during the forecast period.

Key Players
AeroVironment, Inc., Airbus SE, Silent Falcon UAS Technologies, Sunbirds, Sunlight Photonics Inc., and Thales Group are the major companies that focus on the development and provision of solar powered UAVs services to both, commercial and defense applications. Airbus and Facebook accounted for more than 45% market share of the global market in 2016.

Objective of the Global Solar Powered UAV Research Report – Forecast to 2023
• To provide insights into factors influencing the market growth
• To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on application, type, component, and region
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market

Target Audience
• Manufacturers of avionics system
• Original Equipment Manufacturers (UAV OEMs)
• Camera and other payload device providers
• Solar cell and related component providers
• Providers of raw materials and equipment for airframe
• Commercial end-users
• Military end-users

Key Findings
• The solar powered UAV market in this report has been segmented on the basis of application into two types, namely, defense, and commercial. The commercial segment market is projected to register the highest CAGR of 15.04% during the forecast period.
• The global solar powered UAV market has been segmented, by type, into fixed-wing and other types. The fixed-wing segment market is projected to register the highest CAGR of 14.60% during the forecast period.
The global solar powered UAV market, in this report, has been segmented on the basis of component into four types, namely, propulsion system, airframe, Guidance Navigation & Control system, and payload. The payload segment market is projected to register the highest CAGR of 15.56% during the forecast period.
• North America dominated the global solar powered UAV market in 2016. It is expected to register a CAGR of 14.80% during the forecast period. It is expected to reach a market size of USD 544.1 million by 2023.

The regional analysis also includes –
• North America
o U.S.
o Canada
• Europe
o France
o U.K
o Russia
o Germany
o Rest of Europe
• Asia Pacific
o China
o South Korea
o India
o Rest of Asia Pacific
• Rest of the World

 

Table of Contents:

1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing use of UAVs in commercial sector
4.2.2 Falling cost of UAVs and advancements in solar technology
4.3 Restraint
4.3.1 Weather dependency of solar powered UAVs
4.4 Opportunities
4.4.1 Growing focus towards renewable energy
4.4.2 Focus on enhancing connectivity solutions
4.5 Challenge
4.5.1 Rising UAV incidents and absence of tighter regulations
5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Threat of New Entrants
5.1.2 Bargaining Power of Suppliers
5.1.3 Bargaining Power of Buyers
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Supply Chain
6 Global Solar Powered UAV Market, By Application
6.1 Overview
6.1.1 Defense
6.1.2 Commercial
7 Global Solar Powered UAV Market, By Type
7.1 Overview
7.1.1 Fixed-Wing
7.1.2 Other Types
8 Global Solar powered UAV Market, By Component
8.1 Overview
8.1.1 Propulsion System
8.1.2 Airframe
8.1.3 Guidance Navigation & Control System
8.1.4 Payload
9 Global Solar Powered UAV Market, By Region
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.1.1 U.S. by Application
9.2.1.2 U.S. by Type
9.2.1.3 U.S. by Component
9.2.2 Canada
9.2.2.1 Canada by Application
9.2.2.2 Canada by Type
9.2.2.3 Canada by Component
9.3 Europe
9.3.1 France
9.3.1.1 France by Application
9.3.1.2 France by Type
9.3.1.3 France by Component
9.3.2 U.K
9.3.2.1 U.K by Application
9.3.2.2 U.K by Type
9.3.2.3 U.K by Component
9.3.3 Russia
9.3.3.1 Russia by Application
9.3.3.2 Russia by Type
9.3.3.3 Russia by Component
9.3.4 Germany
9.3.4.1 Germany by Application
9.3.4.2 Germany by Type
9.3.4.3 Germany by Component
9.3.5 Rest of Europe
9.3.5.1 Rest of Europe by Application
9.3.5.2 Rest of Europe by Type
9.3.5.3 Rest of Europe by Component
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China by Application
9.4.1.2 China by Type
9.4.1.3 China by Component
9.4.2 South Korea
9.4.2.1 South Korea by Application
9.4.2.2 South Korea by Type
9.4.2.3 South Korea by Component
9.4.3 India
9.4.3.1 India by Application
9.4.3.2 India by Type
9.4.3.3 India by Component
9.4.4 Rest of Asia Pacific
9.4.4.1 Rest of Asia Pacific by Application
9.4.4.2 Rest of Asia Pacific by Type
9.4.4.3 Rest of Asia Pacific by Component
9.5 Rest of the World
9.5.1.1 Rest of the World by Application
9.5.1.2 Rest of the World by Type
9.5.1.3 Rest of the World by Component
10 Competitive Landscape
10.1 Competitive Scenario
10.2 Market Share Analysis
11 Company Profiles
11.1 Active Players
11.1.1 AeroVironment, Inc.
11.1.1.1 Company Overview
11.1.1.2 Financial Overview
11.1.1.3 Product Offerings
11.1.1.4 Key Developments
11.1.1.5 SWOT Analysis
11.1.1.6 Key Strategy
11.1.2 Airbus SE
11.1.2.1 Company Overview
11.1.2.2 Financial Overview
11.1.2.3 Product Offerings
11.1.2.4 Key Developments
11.1.2.5 SWOT Analysis
11.1.2.6 Key Strategy
11.1.3 Facebook, Inc.
11.1.3.1 Company Overview
11.1.3.2 Financial Overview
11.1.3.3 Product Offerings
11.1.3.4 Key Developments
11.1.3.5 SWOT Analysis
11.1.3.6 Key Strategy
11.1.4 Silent Falcon UAS Technologies
11.1.4.1 Company Overview
11.1.4.2 Financial Overview
11.1.4.3 Product Offerings
11.1.4.4 Key Developments
11.1.4.5 SWOT Analysis
11.1.4.6 Key Strategy
11.1.5 Sunbirds
11.1.5.1 Company Overview
11.1.5.2 Financial Overview
11.1.5.3 Product Offerings
11.1.5.4 Key Developments
11.1.5.5 SWOT Analysis
11.1.5.6 Key Strategy
11.1.6 Sunlight Photonics Inc.
11.1.6.1 Company Overview
11.1.6.2 Financial Overview
11.1.6.3 Product Offerings
11.1.6.4 Key Developments
11.1.6.5 SWOT Analysis
11.1.6.6 Key Strategy
11.1.7 Thales Group
11.1.7.1 Company Overview
11.1.7.2 Financial Overview
11.1.7.3 Product Offerings
11.1.7.4 Key Developments
11.1.7.5 SWOT Analysis
11.1.7.6 Key Strategy
11.2 Upcoming Players
11.2.1 Established Companies
11.2.1.1 DJI
11.2.2 Start-ups
11.2.2.1 Praxis Aeronautics
11.2.2.2 SolarDrone
11.3 In-active Players
11.3.1.1 AC Propulsion, Inc.
11.3.1.2 Alphabet Inc.
11.3.1.3 Lockheed Martin Corporation
11.3.1.4 The Boeing Company
11.4 Others
11.4.1.1 Autonomous Systems Laboratory
11.4.1.2 Northrop Grumman Corporation
11.4.1.3 BAE Systems PLC
12 Conclusion
13 Appendix
13.1 References