The global UAV (Drone) Propulsion Systems Market size was estimated at USD 6,500.0 million in 2023 and is projected to reach USD 11,564.9 million in 2030 at a CAGR of 11.50 % during the forecast period 2024-2030.
The UAV (drone) propulsion systems market is an essential component of the rapidly growing drone industry. These propulsion systems are responsible for powering unmanned aerial vehicles, providing thrust and manoeuvrability for various applications such as surveillance, agriculture, delivery services, and military operations. With advancements in technology, the propulsion systems have evolved to meet the increasing demand for more efficient, longer-lasting, and lightweight solutions.
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The drivers of the UAV propulsion systems market are closely tied to the increasing demand for drones in various industries. The surge in applications, including aerial photography, mapping, agriculture, and logistics, has driven the need for more reliable and advanced propulsion systems.
Key Findings:
Based on application, the military & defence sector leads the market, holding the largest revenue share throughout the forecast period. The unmanned aerial vehicle (UAV) market is divided into military & defence, civil & commercial, logistics & transportation, construction & mining, and other applications.
Based on type, the fixed-wing UAV segment is experiencing significant growth in terms of compound annual growth rate (CAGR) during the forecast period. The market is segmented into fixed-wing and rotary-wing UAVs. Among these, the fixed-wing category is expanding rapidly, with sub-segments including Conventional Take-Off and Landing (CTOL) and Vertical Take-Off and Landing (VTOL).
Based on system, the avionics segment is anticipated to see the fastest revenue growth in the UAV market over the forecast period. The UAV market is categorized into airframe, payloads, avionics, propulsion, and software. The avionics segment is expected to grow rapidly due to advancements in automated flight management systems, advanced electronics, and path control systems.
Recent Developments
- In August 2023, Field Group chose Alva Industries for the ATLUS X60 electric propulsion system to enhance the safety and efficiency of infrastructure inspections. The system’s outstanding performance, reliability, and long lifespan made it an ideal option. Field Group made a significant initial purchase to integrate the systems into their UAV fleet.
- In December 2022, Orbital Corporation Ltd. and Animal Dynamics entered into a partnership to drive innovation in advanced propulsion systems for the Stork-STM UAVs. The collaboration aimed to develop initial concepts for heavy fuel engine systems for Animal Dynamics's heavy lift unscrewed aircraft systems.
Competitive Landscape
· General Dynamics
· Teledyne Marine
· Saab AB
· Aerovironment, Inc.
· Northrop Grumman Corporation
· Honeywell Aerospace
· Rolls-Royce Holdings PLC and more.
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North America to Dominate the Market
North America is expected to maintain the largest market share throughout the forecast period. This dominance is driven by the increasing use of drones in the military for applications such as aerial mapping, forest monitoring, and infrastructure surveys. The US, as one of the leading producers of military UAVs, exports to numerous countries, further bolstering its market presence.
The UAV (Drone) Propulsion Systems Market Segmentation:
Based on Vehicle Type
· Small
· Medium
· Large
Based on Application
· Commercial
· defence & Government
Based on Propulsion System
· Electric
· Hybrid
· Conventional
Based on Power
· <500W
· 500W-5KW
· 5KW-100KW
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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