Middle East And Africa Uav Battery Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report suggests that the Middle East and Africa UAV battery market is deemed to advance at a compound annual growth rate of 16.06% during the forecasting period 2022-2028. Saudi Arabia, South Africa, the UAE, Turkey, and Rest of Middle East & Africa are studied in the region’s market.
In the United Arab Emirates, the government has made significant investments in expanding its armed forces’ capabilities. Moreover, it has managed to create one of the most advanced militaries in the region, operating with high-level air capabilities compared to other Gulf nations. The nation’s interest in unmanned aerial vehicles surfaced in 2013 when it signed a contract with General Atomics to procure MQ-1 Predator XP Aircraft and associated ground systems. Additionally, the country is communicating with Turkish drone maker Baykar to acquire 120 TB2 drones. Such developments are anticipated to augment the UAV battery market’s growth.
Saudi Arabia, on the other hand, permits the use of only registered drones. Although the nation has among the most advanced air forces in the region, it has only a few weaponized drones. Nevertheless, the country has stated its plans to work with Chinese products to develop its line of armed drones. Unmanned aircraft systems have become a beneficial technology across several other industries. This has led the nation to actively invest in the production of drones to diversify its revenue streams. Thus, the increase in the production of drone technology is expected to boost Saudi Arabia’s UAV battery market.
COMPETITIVE OUTLOOK
The key companies in the UAV battery market consist of Intelligent Energy, Epsilor, Plug Power, RRC Power Solutions, and Doosan Corporation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook