About this market
The growing realization of the UAV deployment in military operations has also encouraged vendors to offer UAVs that can be used in numerous commercial applications. These UAVs are also getting acceptances in other applications. including Internet provision in remote places. aerial photography and video recording. survey and document wildlife. and public service missions. Drones are widely perceived as ideal platforms for surveillance, precision agriculture. wildlife monitoring. and wireless communications due to their capability of low to medium altitude flight and increased mission endurance. The emergence of miniature Crones has enabled integration of powerful optic capabilities. Commercial drone manufacturers have rolled out several product lines for attracting buyers from different segments. Such adoption trends are expected to result in an increased demand for UAVs, thereby driving the global electric UAV market during the forecast period. analysts have predicted that the electric unmanned aerial vehicle (E-UAV) market will register a CAGR of close to 24% by 2023.
Market Overview
Preferred integration of alternative power systems for UAVs
The continuous use of such non-renewable energy sources such as gasoline and jet fuel make them scarce and expensive. owing to their limited supply. Hence. with the depletion of fossil fuels. researchers are looking for alternative sources of fuel that will help power UAVs. The continuous improvement in technology and involvement from various industry leaders have made the development of fuel cells for UAV successful.
High R&D costs
Development cost has been a major challenging factor for UAV propulsion systems in the past. The development of a new electric-motor engine for a tactical military UAV may escalate quickly due to unforeseen challenges that are encountered by UAV manufacturers during the design phase. Thus. the high R&D costs have resulted in favoring the adaptation of existing conventional propulsion technologies in a budget-constrained. suboptimal manner. usually by sacrificing both performance and reliability.
For the detailed list of factors that will drive and challenge the growth of the electric unmanned aerial vehicle (E-UAV) market during the 2019-2023, view our report.
Competitive Landscape
The E-UAV market is moderately fragmented, and companies are focusing on leveraging advanced technologies to introduce innovative products. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.