Global Solar-Powered UAVS Market - 2023-2030

Global Solar-Powered UAVS Market - 2023-2030

Global Solar-Powered UAVS Market reached US$ 1.01 million in 2022 and is expected to reach US$ 2.9 million by 2030, growing with a CAGR of 14.3% during the forecast period 2023-2030.

Solar-powered UAVs may operate for a longer duration of time than battery-powered or fuel-powered drones. This increased endurance is useful for applications that need continuous aerial monitoring, surveillance, or data collecting. Agriculture, infrastructure inspection, and disaster management all benefit from the capacity to cover wider regions and collect data over longer periods.

Fixed wing solar UAVs segment holds more than 2/3rd share in the market and these drones are often used in military operations. The drone can show distant and metropolitan areas because of its flowing nature. Only the protection sector was allowed to utilize UAV automation. In contrast, the market for solar-powered drones has seen a trend over the past two years of huge navigation and tech sectors working with independent small businesses.

Market Dynamics
Growing Consumer Demand For Drone Services
The demand for reducing expenses and the creation of high-efficiency solutions has risen as economic intensity has increased across industries. As a result of the rising demand, there is an increased need for on-demand customized solutions that are inexpensive, simple to use, and offer great value to meet numerous industry-specific needs.

Domestic and transcontinental tensions have developed globally as a result of rising political, economic, or social unrest among nations or regions. To counter the rising territorial and interstate instability, governments all over the world have raised their defense spending. Defense spending grew from 2019 to 2020 by 2.6%, totaling $1,981 billion. The rise in hostile incidents throughout the globe has boosted sales of solar-powered unmanned aerial vehicles. Military organizations have been encouraged to employ drones to improve their defense capabilities by the enormous need for autonomous security and surveillance systems.

For instance, in April 2021, a mining firm in Ghana signed a contract with Delta Drone International to supply light detection and ranging (LIDAR). Following the agreement, Delta Drone International can help the business in the immediate assessment of possible mine sire expansions at various locations.

Increasing Innovations In UAV Technology
The capacity of solar-powered UAVs is improving as a consequence of ongoing developments in lightweight materials, energy storage technologies, and power management techniques. Companies now have the chance to create solar-powered UAVs that are more effective, sophisticated, and capable of transporting larger payloads owing to these innovations in Type.

The manufacture of solar-powered UAVs is more scalable as technological advancements lower the cost of drone parts and manufacturing procedures. Because of their lower cost, solar-powered UAVs are now more widely applicable to a variety of industries and uses, which is expected to drive growth in demand and acceptance. The Increasing innovations in drone technology boost the growth of the solar-powered UAVs market.

Cybersecurity Issues Associated With Drones Is Impeding Market Expansion
Drones could be susceptible to unauthorized access or takeover by hackers. A solar-powered UAV's flight journey, payload, or data transmission can all be changed by an attacker if they take control of the drone, which might put people at risk for harm or be used inappropriately or in violation of their privacy.

Drone-based cyber attacks have the ability to cause anything from bodily harm or property damage to data theft and service interruption. Drones might be used maliciously by individuals to get confidential information or to obstruct operations by interfering with navigation or communication systems. A drone that has been armed with explosives or other potentially dangerous items may also cause bodily harm or destruction.

COVID-19 Impact Analysis
The market for solar-powered unmanned aerial vehicles after COVID-19 and their vast variety of potential applications across several industries, drones witnessed a sharp increase in demand during the pre-pandemic period. The COVID-19 outbreak, however, caused a global slowdown in industrial activity, which decreased demand for drones. Demand was impacted by restrictions on non-essential industrial activities since end-use industries, which predominantly utilize drones for purchasing, drive demand.

The pandemic had an impact on the automotive industry, which included the sales of electric vehicles. The demand for electric vehicles decreased as a result of travel restrictions, lockdowns, and economic downturns. With fewer EVs on the road, there was a reduction in the need for wireless charging infrastructure, including EV wireless power transfer.

Segment Analysis
The global solar-powered UAVs market is segmented based on type, range, component, mode of operation, application and region.

Rising Demand For Semi-Autonomous Option For Both Commercial and Defense
The semi-autonomous segment holds more than 51.1% share of the global solar-powered UAVs Market. Drones are currently fitted with artificial intelligence (AI) technologies that enable them to interpret data in real time, make wise judgments, and adapt to changing settings. Drones are equipped with machine learning algorithms that allow them to learn and develop over time, resulting in improved semi-autonomous capabilities.

The addition of innovative sensors, such as LiDAR, multispectral sensors, optical cameras, thermal cameras, and thermal cameras, improves the semi-autonomous capabilities of solar-powered UAVs. These sensors allow drones to operate with little or no operator involvement while capturing high-resolution pictures, gathering data, and carrying out activities like object detection, environmental monitoring, or inspection.

Geographical Analysis
Europe’s Growing Technological Developments of UAVs
Initiatives using renewable energy, such as solar energy, have been leading the way throughout Europe. The region's goal of lowering carbon emissions aligns with the emphasis on clean energy and sustainability, which fosters a climate that is conducive to the acceptance and expansion of solar-powered UAVs. In addition, many European nations have set in place regulations and guidelines that support the use of drones, especially solar-powered unmanned aerial vehicles (UAVs). These regulations aid in testing and deployment, assist innovation and commercialization, and give the industry a solid foundation.

Furthermore, Strict environmental regulations, such as restrictions on greenhouse gas emissions and pollution management, are currently in place all through Europe. When conducting airborne activities, businesses can adhere to rules by using solar-powered UAVs, which provide a more environmentally friendly alternative to conventional drones fueled by fossil fuels.

Additionally, Europe has a strong innovation environment that supports developments in drone-type, lightweight materials, solar-type, and energy storage. These technical advancements boost the solar-powered UAVs' effectiveness, durability, and performance, which is causing their market to expand.

Competitive Landscape
The major global players include AeroVironment, Inc., Sunbirds, Sunlight Photonics Inc., Bye Aerospace, Silent Falcon UAS Technologies, Alta Devices, Quaternium Technologies, Atlantik Solar, SunPower Corporation and Solar Ship Inc.

Why Purchase the Report?
• To visualize the global solar-powered UAVs market segmentation based on type, range, component, mode of operation, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of solar-powered UAVs market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key technologies of all the major players.
The global solar-powered UAVs market report would provide approximately 78 tables, 76 figures and 181 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies