Pune, India, July 29, 2021 (GLOBE NEWSWIRE) – The global market size for drone power sources was $ 2.45 billion in 2020. The market is expected to grow from $ 2.57 billion in 2021 to 5, 33 billion USD in 2028 at a CAGR of 11.0% over the period 2021-2028. This information is published by Fortune Business Insights ™, in its report entitled, “Drone Power Source Market Size, Share and COVID-19 Impact Analysis, by Drone Type (MALE, HALE, Special Mission Drone, Medium and Small Drone, Nano Drone, and Passenger Drone), by power source (fuel cells, battery, solar energy) Cells) by flight time (less than one hour, 1 hour to 25 hours, 25 hours to 50 hours and more than 50 hours), by point of sale ( OEM & Aftermarket), By End User (Commercial & Military) and Regional Forecast, 2021 – 2028.
According to our researchers, the increasing adoption of drones in established and emerging economies has led to an increase in demand for modern drone power sources. The increasing requirements for surveillance drones by military and military forces are ensuring increased sales of their energy sources.
For example, in April 2021, the United States Naval Research Laboratory examined solar foils and hydrogen fuel powered by a Tiger cell fusion unmanned aerial vehicle (UAV). This strategic drone has documented a flight time of 24 hours. This is expected to amplify the demand and promote the growth of the Drone Power Sources market during the forecast period.
Impact of COVID-19: positive commercial sales observed in the midst of a pandemic
The overall impact of the COVID-19 pandemic on the market has been recorded as positive. The industry is seeing an increase in demand for medical industry transport drones to deliver drugs and vaccines to remote areas.
For example, according to the United Nations Children’s Emergency Fund (UNICEF), amid the COVID-19 pandemic, nearly 18 countries have organized drones to transport laboratory testers and drugs, the aerial spraying of disinfectants and supervision and regulation of communal areas.
Additionally, in May 2021, Blue Dart, one of the leading logistics companies, said it had performed an experimental drone test to deliver COVID-19 vaccines to remote areas below the “Medicine from the Sky” mission. . This plan was administered in association with the Telangana State Government, Niti Aayog, the World Economic Forum and Healthnet Global.
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Fortune Business Insights ™ lists some of the renowned companies in the drone power source market. They are as follows:
- Skydio, Inc. (US)
- SZ DJI Technology Co., Ltd. (China)
- HES Energy Systems (Singapore)
- Sion Power Corporation (United States)
- Honeywell International Inc. (United States)
- Hylium Industries, Inc. (South Korea)
- Sky Power GmbH (Germany)
- MicroMultiCopter Aero Technology Co. Ltd. (China)
- Intelligent Energy Limited (UK)
- Pegasus Aeronautics (Canada)
- UAV Engines LTD (United Kingdom)
- PBS INDIA PRIVATE LIMITED (India)
- Drone Factory (United States)
- Northwest UAV, Inc. (US)
- Denchi Power Limited (UK)
- EaglePicher Technologies (United States)
- Guangzhou EHang Intelligent Technology Co. Ltd (China)
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The market report provides a holistic assessment of the market overview and segments. A comprehensive study of current trends and future opportunities in the market is presented in the report. It also provides exhaustive analysis of regional information and how these factors shape the market in the respective regions. The impact of the COVID-19 pandemic is added to better understand the possible threats in the market. The effective strategies of the major players and how they are driving the growth of the market are discussed in the following report.
Conductors and constraints
Growing implementation of drone technology for commercial use to drive market growth
At present, the implementation of drone technology is constantly increasing for a wide variety of commercial uses. The diverse collection of apps including aerial photography, thoroughness, agriculture, wildlife monitoring, imaging, law and enforcement, disaster management, entertainment, rescue and relief , logistics and shipping, research and development and construction. These wide choice drone applications are likely to navigate the expansion of progressive drone power sources such as fuel cells or LiPo batteries to provide improved flight time.
For example, according to a Federal Aviation Administration data report, 504,878 recreational drones and 365,194 commercial drones were listed in the United States as of May 2021.
Major colossal tech company such as Amazon Inc. and large logistics companies such as Blue Dart Express Limited, DHL, UPS and FedEx are capitalizing deeply in building drone transport portals due to increased demand for services home supply for food, medicine and medicine, organ transfer, as well as e-commerce sectors.
On the basis of drone type, the market is divided into MALE, HALE, special mission drone, medium and small drone, nano drone, and passenger drone. By power source, the market is categorized into fuel cell, battery, solar cell, non-renewable, and hybrid. Based on the flight time, the market is divided into less than 1 hour, 1 hour – 25 hours, 25 hours – 50 hours, and more than 50 hours. Based on the point of sale, the market is divided into OEM and aftermarket. In terms of region, the market is categorized as North America, Europe, and Asia-Pacific.
By end user, the market is categorized into commercial and military. The commercial segment is expected to be the fastest growing segment during the forecast period. This growth is attributed to the sharp increase in demand for drones in several sectors such as consumer, logistics, agriculture, healthcare, construction, media and entertainment, weather forecasting, search and rescue and mining.
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North America held a market share of Drone Power Sources worth USD 1.16 billion in 2020 and is expected to dictate the market due to the rapid implementation of progressive technologies and the existence of many producers. of drones and suppliers of drone power sources in the region.
The market in Europe is expected to grow at a robust CAGR during the period mentioned. Increasing investments from crucial players to improve and implement progressive drone technologies is likely to support the market growth.
Asia-Pacific is expected to show rapid growth in the coming years. This growth is credited to government funds boosted to acquire army drones to increase border and country security. Leading countries such as China, Japan and India have focused their attention on the emergence and acceptance of contemporary unmanned aerial cars.
Innovative and advanced tactics adopted by key players to maintain their position
A key company such as SZ DJI Technology Co., Ltd. provides a wide variety of advanced rechargeable LiPo battery infused commercial drones including various cells such as two cell, three cell, four cell or six cell. The company uses cells in accordance with the requirements of the application. In addition, prominent fuel cell producer H3 Dynamics Holdings Pte. Ltd., changed and increased its level of focus on improving Liquid Hydrogen Energy Bases in order to increase flight time for BVLOS drone setup.
Key industry development
October 2020: Ballard Power Systems has announced that it has completed the sale of its drone business to Honeywell International Inc.
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Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological advances
- Porters Five Forces Analysis
- Supply chain analysis
- Qualitative insights
- Impact of COVID-19 on the market for energy sources for drones
- Measures taken by industry / government / business to overcome the impact
- Potential opportunities due to the COVID-19 epidemic
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