Solar Powered Drone Trends and Forecast
The future of the global solar powered drone market looks promising with opportunities in the agriculture, energy, military, and telecommunication markets. The global solar powered drone market is expected to reach an estimated $2.4 billion by 2030 with a CAGR of 13.7% from 2024 to 2030. The major drivers for this market are increasing demand for long-endurance and environmentally friendly aerial platforms for applications, technological advancements in solar panel efficiency and lightweight materials, and growing emphasis on sustainability and reducing carbon emissions in aerospace and defense sectors.
• Lucintel forecasts that vtol is expected to witness the higher growth over the forecast period.
• Within this market, military is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States –NASA announced partnerships with drone companies to develop solar-powered drones for atmospheric research and environmental monitoring. The US government unveiled tax incentives and grants to encourage the adoption of solar-powered drones, aiming to support innovation and reduce carbon emissions in aerospace.
China –DJI introduced the "Solar Phantom," a solar-powered drone for agricultural surveillance, targeting improved crop monitoring efficiency. The Chinese government set targets to increase the deployment of solar-powered drones for environmental monitoring and disaster response, aligning with sustainability goals.
India –Indian Space Research Organisation (ISRO) collaborated with local startups to develop solar-powered drones for aerial surveying and telecommunications. The Indian government outlined plans to promote indigenous manufacturing of solar-powered drones, aiming to bolster domestic capabilities and reduce reliance on imports.
Germany –Lilium announced plans to develop a solar-powered drone for urban air mobility, aiming to revolutionize transportation with eco-friendly aerial vehicles. The German government allocated funds for research and development in solar-powered drone technology, fostering innovation and supporting the transition to sustainable aviation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Solar Powered Drone by Segment
The study includes a forecast for the global solar powered drone by type, application, and region.
Solar Powered Drone Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• VTOL
• Fixed Wing
• Others
Solar Powered Drone Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Agriculture
• Energy
• Military
• Telecommunication
• Others
Solar Powered Drone Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Solar Powered Drone Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solar powered drone companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solar powered drone companies profiled in this report include-
• Boeing
• Facebook
• AeroVironment
• Lockheed Martin
• Bye Engineering
• Atlantik Solar
• Airbus
Recent Development in the Solar Powered Drone Market
NASA: Partnered with drone companies to develop solar-powered drones for atmospheric research and environmental monitoring, aiming to enhance data collection capabilities.
DJI: Introduced the "Solar Phantom," a solar-powered drone designed for agricultural surveillance, optimizing crop monitoring efficiency.
Indian Space Research Organisation (ISRO): Collaborated with local startups to develop solar-powered drones for aerial surveying and telecommunications, promoting indigenous innovation in the drone industry.
Lilium: Announced plans to develop a solar-powered drone for urban air mobility, aiming to revolutionize transportation with eco-friendly aerial vehicles.
Features of the Global Solar Powered Drone Market
Market Size Estimates: Solar powered drone market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Solar powered drone market size by type, application, and region in terms of value ($B).
Regional Analysis: Solar powered drone market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the solar powered drone market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solar powered drone market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the solar powered drone market size?
Answer: The global solar powered drone market is expected to reach an estimated $2.4 billion by 2030.
Q2. What is the growth forecast for solar powered drone market?
Answer: The global solar powered drone market is expected to grow with a CAGR of 13.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the solar powered drone market?
Answer: The major drivers for this market are increasing demand for long-endurance and environmentally friendly aerial platforms for applications, technological advancements in solar panel efficiency and lightweight materials and growing emphasis on sustainability and reducing carbon emissions in aerospace and defense sectors.
Q4. What are the major segments for solar powered drone market?
Answer: The future of the solar powered drone market looks promising with opportunities in the agriculture, energy, military, and telecommunication markets.
Q5. Who are the key solar powered drone market companies?
Answer: Some of the key solar powered drone companies are as follows:
• Boeing
• Facebook
• AeroVironment
• Lockheed Martin
• Bye Engineering
• Atlantik Solar
• Airbus
Q6. Which solar powered drone market segment will be the largest in future?
Answer: Lucintel forecasts that vtol is expected to witness the higher growth over the forecast period.
Q7. In solar powered drone market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the solar powered drone market by type (vtol, fixed wing, and others), application (agriculture, energy, military, telecommunication, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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