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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.
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 -
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.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by UAV type
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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