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Solar Powered Drones Market to see good times ahead

Author : Ronak Bora | Published Date : 2019-04-15 

Global Market Insights, Inc. added research on Solar Powered Drones Market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.

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On the basis of applications, the global solar powered drones market can be segmented into agriculture, energy, government & defense, telecommunication, and media & entertainment. The government and defense segment contributed a major share till 2015 owing to the major applications for surveying and mapping of regions. Regulatory amendments over the forecast timeframe are anticipated to propel the growth in the commercial sectors as well. Telecommunication, media, and commercial segments are expected to witness significant growth rates over the forecast timeline.

Technological advancements surfacing in hydrogen fuel cell, photovoltaic cell, and hybrid propulsion system used to generate energy may help in improving the endurance and flight range. This will assist in their penetration in the global solar powered drones market owing to their increased demands in civil and commercial application utilities to function on an autonomous power source.

Reliable and good quality internet connectivity has become a necessity around the globe, which is restricted only to the urban areas. Initiatives taken by network providers to connect with remote rural regions with best quality internet services and increase in the consumer base are expected to drive market growth. Such unmanned aerial vehicles also find major applications in mapping, disaster management, and surveillance.

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Severe government regulations prohibiting the adoption of these aerial vehicles are anticipated to restrain solar powered drones market size. Severe threats to public security and privacy norms are challenging the growth prospects. As these technologies have only recently established a foothold in the industry, lack of trained professionals and pilots to manage the functions is expected to pose major challenges to the growth.

North America solar powered drones market share was the largest in 2015 owing to high adoption rates due to the extensive applications of military drones. Combat and surveillance operations in the critical war zones are projected to enhance growth prospects in the region. Initiatives undertaken by aviation regulatory authorities and government, such as EASA in Europe and FAA in the U.S., will drive the growth till 2024. Asia Pacific region is expected to be the major regional segment due to high investments by countries such as Japan, India, and China for military and commercial purposes.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Airbus (QinetiQ)
  • Boeing Phantom Works
  • Google (Titan Aerospace)
  • Facebook (Ascenta)
  • AeroVironment/NASA
  • Lockheed Martin (Hale-D)
  • Bye Engineering
  • Atlantik Solar

Browse Full Report: https://www.gminsights.com/industry-analysis/solar-powered-drones-market

Key participants holding major solar powered drones market share include Airbus (QinetiQ), Boeing Phantom Works, Google (Titan Aerospace), and Facebook (Ascenta). Other participants include AeroVironment/NASA, Lockheed Martin (Hale-D), Bye Engineering, and Atlantik Solar. Solar powered aviation has witnessed a steep rise in R&D expenditure in the last two years prior to 2015.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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