Solar Powered UAV Market Size was valued at USD 0.8944 billion in 2023. The Solar Powered UAV market is projected to grow from USD 0.9999392 billion in 2024 to USD 2.183 billion by 2032, exhibiting compound annual growth rate (CAGR) of 10.25% during the forecast period (2024 - 2032). The increasing demand for drone services for various commercial applications, including resource exploration and climate monitoring, and technological advancements are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Solar-Powered UAV Market Trends
Increase in demand for drone servicesis driving the market growth.
The rise in economic intensification has increased demand for cost-cutting and the development of high-efficiency solutions across industries. This increase in demand boosts the need for affordable, easy-to-implement, and high-value on-demand customized systems for the distinct requirements of various industries. This factor increases the market CAGR.
The drone manufacturers have increased the development of customized drones for warehouse management, capturing, viewing, and analyzing aerial imagery for agriculture, mining, utility, power, media, telecommunication, logistics, oil & gas, and construction industries. For instance, in April 2021, Skyports and Kenya Airways signed a Memorandum of Understanding (MoU) to launch permanent unmanned aerial vehicle (UAV) operations in Kenya. The partnership aims to explore the commercial impact and viability of various logistical, inspection, and medical drone use cases. Drone service companies are adopting mergers, acquisitions, and expansion for developing drone applications according to the custom requirement of the target industry.
Additionally, increased political, economic, or social upheaval among countries or regions has increased domestic and intercontinental tensions worldwide. Governments around the world have increased defense expenditures to defend against the growing territorial and intercountry instability. The defense expenditure has increased by 2.6% from 2019 and reached $1,981 billion in 2020. The surge in hostile instances worldwide has fueled the Solar Powered UAV market revenue. The huge demand for autonomous security and surveillance systems has promoted defense organizations to adopt drones to enhance their defense capabilities. For instance, in April 2021, Delta Drone International secured a contract for providing light detection and ranging (LIDAR) to a mining company in Ghana. Under the contract, Delta Drone International will help the company in the real-time examination of possible mine site expansions at various locations.
Solar Powered UAV Market Segment Insights
Solar Powered UAV Type Insights
The Solar Powered UAV market segmentation, based on Type, includes fixed wiring and others. The fixed wiring segment dominated the market. These drones are comprehensively utilized in military functions. Its flowing allows the drone to depict urban and distant zones. UAV automation was confined to implementation only in the safeguarding industry. Conversely, the tendency in the past two years has observed the involvement of large navigation and tech industries conducted with small independent companies in the solar-charged drone market.
Figure 1: Solar Powered UAV Market, by Type, 2022 & 2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Solar Powered UAV Application Insights
The Solar Powered UAV market segmentation, based on Application, includes commercial defense, commercial. The commercial defense segment dominated the market. The increased political, economic, or social upheaval among countries or regions has increased domestic and intercontinental tensions worldwide. Governments worldwide have increased defense expenditure to defend against the growing territorial and intercountry instability.
Solar Powered UAV Component Insights
Based on components, the Solar Powered UAV market segmentation includes airframe, payload, propulsion system, control system, and guidance navigation. The airframe segment dominated the market. The aerospace industry has been driven by advancements in technology, such as the development of more efficient engines and materials and increased demand for air travel and cargo transportation.
For Instance, April 2021 Delta Drone International secured a contract for providing light detection and ranging (LIDAR) to a mining company in Ghana. Under the contract, Delta Drone International will help the company in the real-time examination of possible mine site expansions at various locations.
For Instance, February 2021 Hindustan Aeronautics Limited, a state-run defense manufacturer in India, in partnership with NewSpace, a Bengaluru-based start-up company, is developing the solar-powered drone, Infinity. This drone is being developed as a part of India's unmanned drone warfare program, the Combat Air Teaming System (CATS). The drone is expected to provide surveillance from an altitude of more than 65,000 feet for ninety days.
Solar Powered UAV Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American solar-powered UAV market area will dominate this market, owing to the high investment from NASA and the Department of Defense for numerous projects in the Region will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SOLAR POWERED UAV MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Solar Powered UAV market accounts for the second-largest market share due to the increasing demand for drone services for various commercial applications, including resource exploration, climate monitoring, and technological advancements. Further, the German Solar Powered UAV market held the largest market share, and the UK Solar Powered UAV market was the fastest-growing market in the European Region.
The Asia-Pacific Solar Powered UAV Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the use of UAVs in agricultural & industrial activities and the adoption of defense drones. Moreover, China’s Solar Powered UAV market held the largest market share, and the IndianSolar Powered UAV market was the fastest-growing market in the Asia-Pacific region.
Solar-powered UAV Key Market Players & Competitive Insights.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the solar-powered UAV market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The solar-powered UAV industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Solar Powered UAV industry to benefit clients and increase the market sector. In recent years, the Solar Powered UAV industry has offered some of the most significant advantages to the healthcare sector. Major players in the Solar Powered UAV market, including Thales Group (France), AeroVironment Inc (US), Silent Falcon UAS Technologies (US), Facebook Inc (US), Sunlight Photonics Inc (US), Airbus SE (France), Sunbirds SAS (France), BAE Systems Plc (US), Bye Aerospace Inc (US), The Boeing Co (US), Barnard Microsystems Ltd (UK), Ocean Aero (US).and others, are attempting to increase market demand by investing in research and development operations.
Delta Drone International Limited provides drone-based data service and technology solutions for the mining, construction, security, renewable, agricultural, and engineering industries with high growth potential and fair value. Delta Drone International secured a contract for providing light detection and ranging (LIDAR) to a mining company in Ghana. Under the contract, Delta Drone International will help the company in the real-time examination of possible mine site expansions at various locations.
Hindustan Aeronautics Limited is an Indian public-sector aerospace and defense company headquartered in Bangalore. Established on 23 December 1940, HAL is one of the world's oldest and largest aerospace and defense manufacturers. Hindustan Aeronautics Limited, a state-run defense manufacturer in India in partnership with NewSpace, a Bengaluru-based start-up company, is developing the solar-powered drone, Infinity. This drone is being developed as a part of India's unmanned drone warfare program, the Combat Air Teaming System (CATS). The drone is expected to provide surveillance from an altitude of more than 65,000 feet for ninety days.
Key Companies in the solar-powered UAV market include.
Thales Group (France)
AeroVironment Inc (US)
Silent Falcon UAS Technologies (US)
Sunlight Photonics Inc (US)
Airbus SE (France)
Sunbirds SAS (France)
BAE Systems Plc (US)
Bye Aerospace Inc (US)
The Boeing Co (US)
Barnard Microsystems Ltd (UK)
Ocean Aero (US)
Solar-powered UAV Industry Developments
For Instance, April 2021 The Ripper Group announced a merger with Surf Life Saving Queensland (SLSQ) to enhance the companies' development and operational synergies. The merger is projected to integrate the search and rescue drone deployment, research, and training capabilities of the Ripper Group in the lifesaving surf operations of Surf Life Saving Queensland (SLSQ). The drones offer customizable working capacity, increasing their integration in different operations of multiple industries. The ability of drones to perform in multiple environments and deliver customized output is a key driver for the growth of drone services in different industries, which in turn is expected to fuel the demand for the growth of the solar-powered UAV market during the forecast period.
For Instance, April 2021 Skyports and Kenya Airways have signed a Memorandum of Understanding (MoU) to launch permanent unmanned aerial vehicle (UAV) operations in Kenya. The partnership aims to explore the commercial impact and viability of various logistical, inspection, and medical drone use cases. Drone service companies are adopting mergers, acquisitions, and expansion for developing drone applications according to the custom requirement of the target industry.
Solar-Powered UAV Market Segmentation
Solar-powered UAV Type Outlook
Fixed Wiring
Others
Solar-powered UAV Application Outlook
Commercial Defence
Commercial
Solar-powered UAV Component Outlook
Airframe
Payload
Propulsion System
Control System
Guidance Navigation
Solar-powered UAV Regional Outlook
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 0.8944 billion |
| Market Size 2024 | USD 0.9999392 billion |
| Market Size 2032 | USD 2.183 billion |
| Compound Annual Growth Rate (CAGR) | 10.25% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Component, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Thales Group (France), AeroVironment Inc (US), Silent Falcon UAS Technologies (US), Facebook Inc (US), Sunlight Photonics Inc (US), Airbus SE (France), Sunbirds SAS (France), BAE Systems Plc (US), Bye Aerospace Inc (US), The Boeing Co (US), Barnard Microsystems Ltd (UK), Ocean Aero (US) |
| Key Market Opportunities | The photovoltaic cells in the solar-powered UAV help enhance the flight range's capacity. |
| Key Market Dynamics | Solar Powered UAV Market Growth. |
Solar Powered UAV Market Highlights:
Frequently Asked Questions (FAQ) :
The Solar Powered UAV market size was valued at USD 0.8944 Billion in 2023.
The market is projected to grow at a CAGR of 10.25% during 2024-2032.
The key players in the market areThales Group (France), AeroVironment Inc (US), Silent Falcon UAS Technologies (US), Facebook Inc (US), Sunlight Photonics Inc (US), Airbus SE (France), Sunbirds SAS (France), BAE Systems Plc (US), Bye Aerospace Inc (US), The Boeing Co (US), Barnard Microsystems Ltd (UK), Ocean Aero (US).
The fixed wiring Solar Powered UAV category dominated the market in 2023.
Commercial Defence had the largest share of the market.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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