UAV Propulsion System Market Research Report: By Propulsion Type (Electric, Thermal, Hybrid), By Range (Long Range, Medium Range, Short Range) and By End-User (Military & Defense, Commercial, Consumers) – Forecast to 2030
Market Forecast
UAV Propulsion System Market is projected to be valued at USD 12.52 Billion by 2025, expanding at a CAGR of 12.6% between 2019 and 2025. The increasing use of UAVs for countering internal and external security threats is primarily driving the growth of the market. Furthermore, increasing demand for UAVs for border monitoring is driving the growth of the market.
Market USP
The growing demand for UAVs by the defense agencies for tactical missions is expected to boost the demand for advanced UAV propulsion systems.
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Growth Opportunities in the Market
- Electric propulsion system segment accounted for the largest market share in 2018: The electric propulsion system segment is also expected to grow at the highest CAGR during the forecast period from 2019 to 2025. The growth can be attributed to the high utilization of electric propulsion system in UAVs. This is because the electric propulsion system creates less noise, weighs less, and requires less maintenance.
- Long-range segment is expected to witness a higher growth in the market: The long-range segment is expected to grow at a higher CAGR during the review period. This is due to the increasing demand for UAVs with high endurance by the military and commercial end-users and high investments in the development of long-range UAV propulsion systems.
- Commercial segment is expected to register the highest growth in the market: The commercial segment is expected to grow at the highest CAGR during the review period. This is due to the increasing use of UAVs for commercial applications such as mapping & surveying, climate & pollution monitoring, and recreational photography and videography among others.
- UAV Propulsion System Market is projected to be valued at USD 12.52 Billion by 2025, expanding at a CAGR of 12.6% between 2019 and 2025. The increasing use of UAVs for countering internal and external security threats is primarily driving the growth of the market. Furthermore, increasing demand for UAVs for border monitoring is driving the growth of the market.
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Key Players
- 3W International GmbH (Germany)
- Austro Engine GmbH (Germany)
- Ballard Power Systems Inc. (US)
- GE Aviation (US)
- Hirth Engines GmbH (Germany)
- LaunchPoint Technologies Inc. (US)
- Orbital Corporation (US)
- Rotron Power Ltd (UK)
- Safran SA (France)
- Sky Power GmbH (Germany)
- UAV Engine Ltd (US)
- UAV Propulsion Tech (US)
- UAV Turbines, Inc. (US)
- United Technologies Corporation (US)
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