Enjoy complimentary customisation on priority with our Enterprise License!
The energy storage market for unmanned aerial vehicles (UAVs) size is forecast to increase by USD 2,638.21 million and is estimated to grow at a CAGR of 18.06% between 2023 and 2028. The report includes historic market data from 2018 - 2022. The market is witnessing a growing demand for the use of artificial intelligence in autonomous UAVs, the development of drone swarm technology, and increasing strategic partnerships.
For More Highlights About this Report, Download Free Sample in a Minute
A key factor shaping the energy storage market for unmanned aerial vehicles (UAVs) growth is the use of artificial intelligence in autonomous UAVs. In a short amount of time, drones have revolutionized and enhanced the productivity of several industries. In addition, drones have been used for storm tracking, border surveillance, safety inspections, and security monitoring.
Moreover, they can also be equipped with missiles and bombs in military attacks, quickly deliver goods such as drugs and other products, enable the study of the natural environment or wildlife, and scan remote bases. In addition, the next generation of drones is expected to be powered by artificial intelligence (AI). Furthermore, the use of aerial artificial intelligence (AI) will enable the generation of loads of real-time data, which will open up new avenues for analyzing the captured data and studying complex physical structures or terrains. Therefore, it is positively impacting the energy storage market for unmanned aerial vehicles. Hence, such factors are driving the market growth during the forecast period.
The MALE (medium altitude long endurance) UAVs segment is estimated to witness significant growth during the forecast period. A MALE UAV can be referred to as an unmanned aerial vehicle (UAV) that flies for extended periods of time, usually 24 to 48 hours, at an altitude window of 10,000 to 30,000 feet. In addition, the most advanced MALE UAVs in the world are those made in the US, South Africa, Israel, and Turkey. Furthermore, these nations control a sizable portion of the MALE UAV market. According to the mission requirements and specific design, MALE UAVs can stay in the air for extended periods of time - often measured in hours or even days - as implied by the long endurance feature.
Get a glance at the market contribution of various segments Download PDF Sample
Moreover, operating altitudes between roughly 10,000 and 30,000 feet above sea level are referred to as medium altitudes. In addition, these are adaptable platforms that can be used for a variety of tasks, including border patrol, surveillance, reconnaissance, and critical infrastructure monitoring. Furthermore, MALE UAVs can transmit data and images in real-time to ground control stations or other receiving units thanks to the communication systems they are outfitted with. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is considered one of the largest operators of military-grade, remotely piloted aircraft worldwide and has the largest fleet of commercial and recreational drones due to the high contribution from the US. In addition, in the military application segment, the US is focusing on augmenting its inventory of weapons to counter any possible threat of attack. Moreover, the US military and its partners are widening the scope of drone operations to include logistic missions such as resupplying to forces in enemy territory or remote locations. Furthermore, the growing demand for UAVs has resulted in the emergence of several business opportunities fuelling the energy storage market for unmanned aerial vehicles in the region. Hence, such factors are driving the market growth in North America during the forecast period.
One of the key factors driving the energy storage market for unmanned aerial vehicles (UAVs) growth is the development of alternative propulsion technologies for UAVs. UAV manufacturers have long been planning the adoption of alternative propulsion technologies for UAVs. In addition, with several vendors focusing on innovative technologies, the dependence of UAVs on batteries may decline significantly. Furthermore, hydrogen fuel cells have emerged as a suitable replacement for Li-ion batteries in medium-sized to large-sized drones in recent years.
Moreover, the efficiency of fuel cells in terms of weight/power ratios is increasing rapidly. In addition, hydrogen fuel cells offer compelling value for UAVs due to their improved reliability over small internal combustion engines, thus enhancing safety and ensuring low maintenance operations. Furthermore, fuel cell-powered UAVs have a longer operational period than their battery-powered counterparts and, at the same time, offer the same noise and thermal signature. Hence, such factors are positively impacting the energy storage market for UAVs. Therefore, it is expected to drive the market growth during the forecast period.
SWaP and other network-based constraints are some of the key challenges hindering the energy storage market for unmanned aerial vehicles (UAVs) growth. In the last couple of decades, the development and deployment of UAV systems have witnessed significant growth due to their use in a wide range of roles, from urban reconnaissance to high-altitude, long-endurance operations. In addition, UAVs have become vital strategic weapons in the defense arsenal of many countries because of their ISR and enemy-striking capabilities.
However, the complexity and diversity of UAV applications and their underlying computing systems pose significant challenges for developers. In addition, one of these challenges is the need to meet the criteria of integrating high-performance systems for onboard processing within the size, weight, and power (SWaP) constraints in UAVs. Hence, such factors are negatively impacting the energy storage for unmanned aerial vehicles (UAVs) market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Energy Storage Market For Unmanned Aerial Vehicles (UAVs) Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Denchi Group Ltd: The company offers energy storage for unmanned aerial vehicles such as Lithium ion batteries for Sparrowhawk UAV.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The energy storage market for unmanned aerial vehicles (UAVs) report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Energy Storage Market For Unmanned Aerial Vehicles (UAVs) Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.06% |
Market Growth 2024-2028 |
USD 2,638.21 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.8 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Denchi Group Ltd., Doosan Corp., EaglePicher Technologies LLC, Edge Autonomy, H3 Dynamics Holdings Pte. Ltd., Highpower International Inc., Honeywell International Inc., Hylium Industries Inc., Intelligent Energy Ltd., Kokam Co. Ltd., Lumenier, MMC, Plug Power Inc., Shenzhen Grepow Battery Co. Ltd., Sion Power Corp., TDK Corp., The Fuel Cell Store, TotalEnergies SE, Vcanz Co. Ltd., and Veken Technology Co. Ltd. |
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, and Market condition analysis for the 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.