UAV Propulsion System Market is projected to reach USD 12.52 Billion by 2025, expanding at a CAGR of 12.6% between 2020 and 2025.
In this modern era where technology is very advanced, one of the most crucial steps is to choose the propulsion system during the design phase of the UAV. The propulsion chosen must be linked with the mission or task which is designed to be executed. The selected propulsion should be able to handle heavy loads like cargo and munitions for larger projects. This kind of propulsion system is largely used in the defense and military sectors.
COVID 19 Analysis of UAV Propulsion System Market
The global pandemic of COVID 19 has affected a major chunk of the population. Many people have lost their livelihood because of this global pandemic. It has affected the dynamics and growth of several industries. Everyone is worried about their immunity and follows social distancing. During the lockdown situation, operational activities of various end-user industries were halted, resulting in a demand shrink for the UAV propulsion system market, which further leads to decreased sales revenue. The supply chain networks were also disrupted which lead to a decline in profit margin.
However, the UAV propulsion system market is expected to recover from this global pandemic by the end of the third quarter of the coming year by properly strategizing according to the needs of the market.
Numerous factors drive the market demand in the UAV propulsion system market. Using this propulsion system in security helps in countering external and internal threats. It is largely used by defense forces all across the globe due to the availability of aerial platforms which drives the market demand in the global market. Another factor that drives the market demand is payloads and unmanned systems boost the market growth especially in countries like Afghanistan and Iraq. Moreover, increasing use of this system in border monitoring fuels the market demand.
The rise in demand for the UAV propulsion system market all across the globe. Increasing extensive research and development made by various major key players in the global market creates various growth opportunities during the forecasted period. Increasing use of this propulsion system in various end-user industries creates growth avenues in the global market during the forecasted period.
Though the UAV propulsion market share is increasing tremendously in the global market, some factors restrict its growth. The presence of high chances of failure in thermal propulsion systems restricts the market growth at the global level. Moreover, low endurance associated with electric propulsion systems is yet another factor that hinders the market growth to a great extent in the global market during the forecasted period.
Value Chain Analysis
The UAV propulsion system market is increasing at an incredible rate globally due to various benefits associated with it. It is largely used to control illegal migration due to the availability of high surveillance systems. It helps in monitoring deforestation. It also keeps a check on rebel groups and drug trafficking and hence provides a safe environment. It helps in cost-saving technology. This system is deployable and easy to control. It also minimizes health risks and dangers.
The UAV propulsion system market has been divided all across the globe based on the propulsion type, range, end-user, and region.
Based on the Propulsion Type
The market has been divided all across the globe based on the propulsion type into electric type, thermal type, and hybrid type. The electric propulsion system is largely used in electric motors owing to various benefits like less maintenance cost, less noise generation, and low cost. A thermal system is used for increasing endurance and advanced military.
Based on the Range
The market has been divided all across the globe based on the range into long-range, medium-range, and short-range. The largest market share in the global market is held by the long-range during the forecasted period owing to increasing use in military forces.
Based on the End-Users
The market has been divided all across the globe based on the end-users into military and defense activities, commercial activities, and consumer sectors. The largest market share in the global market is held by the military and defense sector during the forecasted period owing to increasing usage in (ISR) intelligence, surveillance, and reconnaissance missions by military forces.
Based on the Region
The market has been divided in the global market based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The UAV propulsion system market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the presence of various major key players like Orbital Corporation, GE Aviation, Ballard Power Systems Inc., and many others coupled with increasing investment.
The second-largest market share in the global market is held by the European region owing to increasing use of UAV system for performing reconnaissance missions, surveillance, and intelligence system that drives the market demand to this region.
Being the fastest-emerging economy, the third-largest market share in the global market is held by the Asia-Pacific region owing to increasing terrorist activities in countries like Australia, Indonesia, China, and India which results in higher expenditure on the defense sector and hence drives the market demand.
The least market share is held by the Latin American region and the Middle East and African region owing to the presence of low infrastructure in both these regions. Low per capita disposable income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the UAV propulsion system market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the UAV propulsion system market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the UAV propulsion system all across the globe.
This global UAV propulsion system market research report consists of the following elements mentioned below:
Frequently Asked Questions (FAQ) :
Global UAV propulsion system market is estimated to acquire market value of USD 12.52 billion by 2025.
Global UAV propulsion system market is expected to expand at a CAGR of 12.6% by 2025.
Global UAV propulsion system market is segmented into propulsion type, range, end-user, and region.
North America is projected to dominate the global UAV propulsion system market.
LaunchPoint Technologies Inc. (U.S.), 3W International GmbH (Germany), Rotron Power Ltd (U.K.), Austro Engine GmbH (Germany) are some of the prominent players of the global UAV propulsion system market.