The UAV Propulsion System Market Size was valued at USD 5.76 billion in 2023. It is expected to reach USD 9.16 billion by 2031 and grow at a CAGR of 5.92% during the forecast period 2024-2031.
The capacity of unmanned aerial vehicles to fight effectively in urban locations against widely dispersed forces while reducing collateral damage and attaining information superiority has allowed them to play a larger role in important operations. The increased need for and reliance on unmanned aerial vehicles in war fighting and peacekeeping operations has more than doubled the rate of UAV-related R&D in recent years.
A UAV's endurance is impacted by the propulsion technology utilized, as well as the aerodynamic design and amount of fuel carried. Several kinds of piston engines and electric motors have been produced by market participants to meet the energy requirements of a wide range of UAVs. The potential benefits of a propulsion system are quantified in terms of their impact on the overall cost of the UAV. Lightweight, more fuel-efficient engines enable the use of costly payload for a particular mission without considerably altering the UAV's size and cost. Electric propulsion systems have grown in favour among small or mini UAVs in recent years due to their obvious benefits: silent operation, ease of handling and storage, precise power management and control.
.png)
To get more information on UAV Propulsion System Market - Request Free Sample Report
MARKET DYNAMICS
KEY DRIVERS
Increased Interest in UAVs for Border Monitoring
Increasing the use of unmanned aerial vehicles (UAVs) to combat internal and external security threats
RESTRAINTS
Thermal Propulsion System Failure
Electric Propulsion System's Low Endurance
OPPORTUNITY
The demand for UAV propulsion systems is increasing all over the world.
Extensive research and development by various major key players in the global market creates a variety of growth chances during the anticipated period.
IMPACT OF COVID-19
The global COVID 19 pandemic has impacted a large portion of the population. As a result of the global pandemic, many people have lost their jobs. It has had an impact on the dynamics and growth of a number of sectors. Everyone is worried about their immunity and keeps a social distance. During the lockdown, numerous end-user industries' operational operations were interrupted, resulting in a fall in demand for the UAV propulsion system market, which results to lost sales income. Profit margins were also reduced as supply chain networks were disrupted.
However, by carefully planning according to market needs, the UAV propulsion system market is predicted to recover from this global pandemic by the end of the third quarter of the approaching year.
The market has been classified into three categories based on propulsion type: electric, thermal, and hybrid. The electric propulsion method is widely utilised in electric motors due to numerous advantages such as low maintenance, reduced noise generation, and low cost. A thermal system is utilised to improve endurance and increase military technology.
The market has been classified into three categories: long-range, medium-range, and short-range. Long-range will hold the greatest market share in the global market over the anticipated period due to increased application in armed forces.
The market has been segmented by end-user across the globe into military and defence activities, commercial activities, and consumer sectors. During the anticipated period, the military and defence sector will hold the highest market share in the global market due to increased utilisation in (ISR) intelligence, surveillance, and reconnaissance operations by armed forces.
The UAV propulsion market has a great potential for growth in the aerospace and military industries, which is primarily due to the rapid proliferation of UAVs. Aside from that, the rising use in commercial applications such as agriculture, photography, product transportation, and oil and gas has pushed the industry forward.
Value Chain Analysis
The global market for UAV propulsion systems is expanding at an unbelievable rate due to the numerous benefits associated with it. Because of the availability of high-tech monitoring equipment, it is mostly employed to control illegal migration. It aids in the monitoring of deforestation. It also keeps rebel organisations and drug traffickers at bay, resulting in a safe atmosphere. It aids in cost-cutting technology. This system is deployable and simple to operate. It also reduces health risks and hazards.
By Range
Long Range
Medium Range
Short Range
By Propulsion Type
Electric
Thermal
Hybrid
By End-User
Military & Defense
Commercial
Consumers
Need any customization research on UAV Propulsion System Market - Enquiry Now
REGIONAL ANALYSIS
The market for UAV propulsion systems has been segmented by region, with North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa being the most important. The North American region has the greatest market share in the global market due to the presence of different major key players such as Orbital Corporation, GE Aviation, Ballard Power Systems Inc., and many others, as well as increased investment
The European area holds the second-largest market share in the global market, owing to the increased use of UAV systems for reconnaissance missions, surveillance, and intelligence systems, which drives market demand to this region.
The Asia-Pacific region holds the third-largest market share in the global market because to increased terrorist activities in countries like as Australia, Indonesia, China, and India, which results in more expenditure on the military sector and hence boosts market demand.
Because of the lack of infrastructure in both of these regions, Latin America and the Middle East and Africa have the smallest market share. Another barrier to market expansion in these areas is a low per capital disposable income.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are UAV Engine Ltd., Sky Power GmbH, Safran SA, LaunchPoint Technologies Inc., Hirth Engines GmbH, United Technologies Corporation, UAV Turbines, Inc., Rotron Power Ltd., Orbital Corporation, UAV Propulsion Tech and Other Players
UAV Engine Ltd-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 5.76 Billion |
| Market Size by 2031 | US$ 9.16 Billion |
| CAGR | CAGR of 5.92% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024- 2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By End-User (Military & Defense, Commercial, Consumers) • By Propulsion Type (Electric, Thermal, Hybrid) • By Range (Long Range, Medium Range, Short Range) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | UAV Engine Ltd., Sky Power GmbH, Safran SA, LaunchPoint Technologies Inc., Hirth Engines GmbH, United Technologies Corporation, UAV Turbines, Inc., Rotron Power Ltd., Orbital Corporation, UAV Propulsion Tech. |
| DRIVERS | • Increased Interest in UAVs for Border Monitoring • Increasing the use of unmanned aerial vehicles (UAVs) to combat internal and external security threats |
| RESTRAINTS | • Thermal Propulsion System Failure • Electric Propulsion System's Low Endurance |
The growth rate of the UAV Propulsion System Market is 5.92% during the forecast period.
UAV Engine Ltd., Sky Power GmbH, Safran SA, LaunchPoint Technologies Inc., Hirth Engines GmbH, United Technologies Corporation, UAV Turbines, Inc., Rotron Power Ltd., Orbital Corporation, UAV Propulsion Tech. are leading players in the UAV Propulsion System Market.
Increased Interest in UAVs for Border Monitoring and Increasing the use of unmanned aerial vehicles (UAVs) to combat internal and external security threats are the key driving factors for the UAV Propulsion System Market.
The Covid-19 pandemic impacted the UAV Propulsion System Market significantly. The detailed impact is included in the final report.
North America region led the UAV Propulsion System Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. UAV Propulsion System Market Segmentation, by Propulsion Type
8.1 Electric
8.2 Thermal
8.3 Hybrid
9. UAV Propulsion System Market Segmentation, by Range
9.1 Long Range
9.2 Medium Range
9.3 Short Range
10. UAV Propulsion System Market Segmentation, by End-User
10.1 Military & Defense
10.2 Commercial
10.3 Consumers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 UAV Engine Ltd.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Sky Power GmbH
12.3 Safran SA
12.4 LaunchPoint Technologies Inc.
12.5 Hirth Engines GmbH
12.6 United Technologies Corporation
12.7 UAV Turbines, Inc.
12.8 Rotron Power Ltd.
12.9 Orbital Corporation
12.10 UAV Propulsion Tech
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Airport Baggage Handling System Market size was valued at USD 7.5 Billion in 2022 & is estimated to reach USD 12.69 Billion by 2030 and increase at a compound annual growth rate (CAGR) of 6.8% between 2023 and 2030.
The Galley Equipment Market Size was valued at USD 10 billion in 2023 and is expected to reach USD 15 billion by 2031 with a growing CAGR of 5.2% over the forecast period 2024-2031.
The Stratospheric UAV Payload Technology Market Size was valued at a CAGR of 4% over the forecast period 2023-2030.
The Aerobatic Aircraft Market Size was valued to grow at a CAGR of 8.3% over the forecast period 2023-2030.
The Military Vehicle Electrification Market Size was valued at USD 5.67 billion in 2022 and is expected to reach USD 15.62 billion by 2030 and grow at a CAGR of 13.5% over the forecast period 2023-2030.
The Digital Shipyard Market Size was valued at USD 0.996 billion in 2022 and is expected to reach USD 4.13 billion by 2030 with a growing CAGR of 19.5% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
