Electric Unmanned Aerial Vehicle (E-UAV) Market by Technology and Geography - Forecast and Analysis 2022-2026

The electric unmanned aerial vehicle (E-UAV) market share is expected to increase by USD 5.42 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.36%.

This electric unmanned aerial vehicle (E-UAV) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric unmanned aerial vehicle (E-UAV) market segmentation by technology (battery, solar, and fuel cell) and geography (North America, APAC, Europe, Middle East and Africa, and South America). The electric unmanned aerial vehicle (E-UAV) market report also offers information on several market vendors, including AeroVironment Inc., Airbus SE, Auterion Ltd., Bye Aerospace Inc., Draganfly Inc., Elbit Systems Ltd., ELcomponics Sales Pvt. Ltd., Equinox's Drones Pvt. Ltd., Eviation Aircraft, Guangzhou XAG Co. Ltd., Intel Corp., Lockheed Martin Corp., Parrot Drone SAS, Raytheon Technologies Corp., Sunlight Aerospace, SZ DJI Technology Co. Ltd., Teledyne FLIR LLC, Xiaomi Global Community, Yuneec International Co. Ltd., and Thales Group among others.

What will the Electric Unmanned Aerial Vehicle (E-UAV) Market Size be During the Forecast Period?

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Electric Unmanned Aerial Vehicle (E-UAV) Market: Key Drivers, Trends, and Challenges

The development of powerful electric engines is notably driving the electric unmanned aerial vehicle (E-UAV) market growth, although factors such as swap and other network-based constraints may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric unmanned aerial vehicle (E-UAV) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Unmanned Aerial Vehicle (E-UAV) Market Driver

One of the key factors driving the global electric unmanned aerial vehicle (E-UAV) market growth is the development of powerful electric engines. The development of sophisticated payloads has augmented the role of UAVs in critical missions. Lightweight and more energy-efficient electric motors permit the use of expensive payload for a given mission without significantly affecting the size and cost of the UAV. In addition, hydrogen fuel cells are emerging as a viable alternative fuel to replace Li-ion batteries in mid to large-size drones, and their efficiency in terms of weight/power ratios is increasing rapidly. They offer compelling value for UAVs due to improved reliability over small internal combustion engines, enhancing safe and low maintenance operation. As the unique design features are empowering alternative uses for E-UAVs, the development of newer advanced engines is being promoted worldwide, which will drive the concerned market growth during the forecast period.

Key Electric Unmanned Aerial Vehicle (E-UAV) Market Trend

Rapid adoption of sensor fusion technology is one of the key electric unmanned aerial vehicle market trends that is expected to impact the industry positively in the forecast period. Sensor fusion technology is defined as an amalgamation of data from multiple sensors for processing and generating output that cannot be achieved through a single sensor. Solar UAVs such as HAPS play an important role as an indispensable weapon, as they deliver high-resolution reconnaissance data through their increasingly sophisticated sensors. Furthermore, the adoption of sensor fusion technologies will result in incorporating an assortment of advanced sensors, which through onboard software support can process data in a swift and efficient way. Moreover, the integration of miniaturized sensors results in significant weight savings for payload by both defense and commercial operators. Such technological advancements are expected to further support market growth in the coming years.

Key Electric Unmanned Aerial Vehicle (E-UAV) Market Challenge

One of the key challenges to the global E-UAV market growth is the SWaP and other network-based constraints. The complexity and diversity of UAV applications and their underlying computing systems have cropped up some of the most advanced design challenges for developers. Such as the challenge to meet the criteria of integrating high-performance systems for onboard processing within the SWaP constraints. Moreover, the reduction in DoD spending on technology development has forced many integrators to turn toward standards such as VPX for their payload designs. Larger UAS systems such as the Predator employ 3U and 6U VPX, but smaller UAS systems lack the required room and hence utilize Small Form Factor (SFF) designs for their payload requirements. In addition, the small UAVs are required to be outfitted with more mission autonomy for increased situational awareness. Such factors are expected to limit the market growth during the forecast period.

This electric unmanned aerial vehicle (E-UAV) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global electric unmanned aerial vehicle (E-UAV) market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric unmanned aerial vehicle (E-UAV) market during the forecast period.

Who are the Major Electric Unmanned Aerial Vehicle (E-UAV) Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AeroVironment Inc.
• Airbus SE
• Auterion Ltd.
• Bye Aerospace Inc.
• Draganfly Inc.
• Elbit Systems Ltd.
• ELcomponics Sales Pvt. Ltd.
• Equinox's Drones Pvt. Ltd.
• Eviation Aircraft
• Guangzhou XAG Co. Ltd.
• Intel Corp.
• Lockheed Martin Corp.
• Parrot Drone SAS
• Raytheon Technologies Corp.
• Sunlight Aerospace
• SZ DJI Technology Co. Ltd.
• Teledyne FLIR LLC
• Xiaomi Global Community
• Yuneec International Co. Ltd.
• Thales Group

 

This statistical study of the electric unmanned aerial vehicle (E-UAV) market encompasses successful business strategies deployed by the key vendors. The electric unmanned aerial vehicle (E-UAV) market is fragmented and the vendors are deploying growth strategies such as technological innovations to compete in the market.

Product Insights and News

• AeroVironment Inc. - The company offers unmanned aircraft solutions to unmanned vehicles such as Jump 20, T-20,  Raven B, and others. 
• AeroVironment Inc. - In July 2021, the company introduced Crysalis, a next-generation ground control solution, designed for collaboration across dynamic battlefields. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric unmanned aerial vehicle (E-UAV) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electric Unmanned Aerial Vehicle (E-UAV) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electric unmanned aerial vehicle (E-UAV) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Electric Unmanned Aerial Vehicle (E-UAV) Market?

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35% of the market's growth will originate from North America during the forecast period. US is the key market for electric unmanned aerial vehicles (E-UAV) in North America. However, market growth in this region will be slower than the growth of the market in other regions.

The significant increase in the procurement of small UAVs owing to the rapid deployment of tactical UAVs in military and defense applications will facilitate the electric unmanned aerial vehicle (E-UAV) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 had an adverse impact on several countries in North America. As of January 20, 2022, over 68.79 million COVID-19 cases and 877,462 associated deaths were reported in the US. However, in the first half of 2021, lockdowns were lifted, and the production and supply chain activities of the E-UAV market were resumed, owing to the initiation of vaccination programs in the region. Hence, the regional demand for E-UAVs is expected to grow during the forecast period.

What are the Revenue-generating Technology Segments in the Electric Unmanned Aerial Vehicle (E-UAV) Market?

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The electric unmanned aerial vehicle (E-UAV) market share growth by the battery segment will be significant during the forecast period. The growth of the global battery-powered electric UAV market in the coming years can be attributed to the widescale adoption and requirements of individual industries, which prompts manufacturers to develop new propulsion technologies to improve the performance characteristics of their product offerings.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric unmanned aerial vehicle (E-UAV) market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Unmanned Aerial Vehicle (E-UAV) Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 14.36%
Market growth 2022-2026	$ 5.42 billion
Market structure	Fragmented
YoY growth (%)	14.29
Regional analysis	North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution	North America at 35%
Key consumer countries	US, Turkey, Israel, China, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AeroVironment Inc., Airbus SE, Auterion Ltd., Bye Aerospace Inc., Draganfly Inc., Elbit Systems Ltd., ELcomponics Sales Pvt. Ltd., Equinox's Drones Pvt. Ltd., Eviation Aircraft, Guangzhou XAG Co. Ltd., Intel Corp., Lockheed Martin Corp., Parrot Drone SAS, Raytheon Technologies Corp., Sunlight Aerospace, SZ DJI Technology Co. Ltd., Teledyne FLIR LLC, Xiaomi Global Community, Yuneec International Co. Ltd., and Thales Group
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electric Unmanned Aerial Vehicle (E-UAV) Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive electric unmanned aerial vehicle (E-UAV) market growth during the next five years
• Precise estimation of the electric unmanned aerial vehicle (E-UAV) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the electric unmanned aerial vehicle (E-UAV) industry across North America, APAC, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of electric unmanned aerial vehicle (E-UAV) market vendors

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