Overview of the global unmanned aerial vehicle (UAV) battery market
Technavio’s market research analyst predicts that the global unmanned aerial vehicle (UAV) battery market will grow at a CAGR of more than 10% by 2020. At present, most UAVs rely on lithium polymer (Li-Po) or lithium-ion (Li-ion) batteries because of their high energy density and high charge and discharge rate capacity. However, the growing need for improved endurance in UAVs with enhanced flight range has propelled several UAV manufacturers to opt for solar technology as the primary source of power in UAVs. The UAV manufacturers are increasingly shifting towards the development of solar-powered UAV drone, which will positively aid in this market’s growth during the forecast period. Such drones offer a sustainable way to provide goods and services to remote areas quickly and effectively, which is similar to satellites. Also, these solar-powered UAVs are being increasingly used in the agricultural sector for monitoring climate change and environmental effects and in delivery services.
As per this industry research report, there is an increased spending on battery and power systems in the R&D sector. This recent increase in the R&D spending led to the emergence of fuel cells in the market. One of the major advantages of fuel cells over conventional battery technology is that they have a much higher energy density and provide ten times more power to small electric UAVs than the conventional batteries. This is expected to extend the flight endurance of a UAV, making it capable of long-distance and extended missions. Recently, Horizon Energy Systems (HES) launched HYCOPTER, the world's first hydrogen fuel cell-powered multi-rotor UAV, which is capable of providing a record flight endurance of around four hours. Also, the HYCOPTER is suitable for border patrol, infrastructure inspection, and survey applications.
Competitive landscape and key vendors
This market is highly competitive as the vendors compete on the basis of cost, product quality, reliability, and aftermarket service to gain maximum market traction. The established vendors have a competitive edge in the market in terms of in-house manufacturing capabilities, product offerings, global footprint network, R&D investments, newer technologies, and the presence of a strong client base. Several factors such as global economic recovery, the growth in the aerospace and defense sector, and R&D investments have opened huge growth opportunities for the UAV manufacturers and their subsystems vendors to compete and grow in the market.
Key players in the market are -
Ballard Power Systems
Segmentation by UAV type and analysis of the UAV battery market
During 2015, the medium-altitude long-endurance (MALE) UAV dominated the market and accounted for more than 36% of the total market share by 2020. A MALE UAV flies at an altitude range of 10,000-30,000 feet for extended durations of time. Some of the prevalent MALE UAVs include IAI Heron and General Atomics MQ-1 Predator. Several countries are making massive investments in the development of these UAVs, which will, in turn, boost growth in the overall market over the next few years.
Geographical segmentation and analysis of the UAV battery market
APAC will be the fastest-growing region in the UAV battery market during the forecast period and is anticipated to grow at a CAGR of around 16% by 2020. The growing demand from APAC has resulted in the tremendous growth and development of commercial UAVs as the majority of APAC nations do not have a high level of restriction for unmanned flight through the civil airspace. Factors such as the extensive use of civilian UAVs and increased defense spending will drive the market growth during the forecast period. Some of the key revenue-generating markets in this region are Japan, South Korea, Malaysia, Singapore, Taiwan, Thailand, India, Pakistan, and Indonesia.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global UAV battery market?
What are the key market trends impacting the growth of the global UAV battery market?
What are the challenges to market growth?
Who are the key vendors in the global UAV battery market?
What are the market opportunities and threats faced by the vendors in the global UAV battery market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global UAV battery market?
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