Upcoming Trends And Drivers Of The Solar-Powered Drones Market
Solar Powered Drones Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Solar Powered Drones Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 10, 2024 /EINPresswire.com/ -- The global solar-powered drones market is projected to grow from $1.82 billion in 2023 to $2.17 billion in 2024, at a compound annual growth rate (CAGR) of 19.5%. The market is anticipated to reach $4.41 billion by 2028, driven by advancements in technology and expanding applications across various sectors including agriculture, surveillance, telecommunications, and disaster management.
Rising Demand for Long-Endurance Drones Drives Market Growth
The increasing demand for long-endurance drones capable of sustained flight operations is a significant factor propelling the growth of the solar-powered drones market. These drones, equipped with photovoltaic panels, harness solar energy to extend flight times significantly, making them ideal for applications requiring extended aerial monitoring and data collection. The market growth is further supported by new regulatory frameworks promoting the deployment of solar-powered drones and the expansion of precision agriculture and infrastructure inspection applications.
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Major Players and Market Trends
Key players in the solar-powered drones market include Google LLC (Titan Aerospace LLC), Meta Platforms Inc. (Ascenta), DHL International GmbH (Deutsche Post DHL Group), and others. These companies are focusing on developing advanced solutions such as solar-powered stratospheric aircraft to enhance their market presence. For instance, Kea Aerospace launched the Kea Atmos Mk 1 in April 2023, a solar-powered stratospheric aircraft designed for high-altitude data collection and monitoring purposes.
Market Segments:
1. Type: Vertical Take-off And Landing (VTOL), Fixed Wing, Rotary Wing, Hybrid
2. Component: Payload, Motors, Energy Systems, Frames, Controller And Navigation
3. Services: Data Analysis, Data Collection, Drone Leasing
4. Application: Agriculture, Energy, Military, Telecommunication, Research And Exploration, Surveillance, Disaster Management
5. End-User: Commercial, Government, Non-Profit
Geographical Insights: North America Leading the Market
North America dominated the solar-powered drones market in 2023, driven by significant investments in military and defense applications and technological innovations. Asia-Pacific is expected to witness the highest growth rate during the forecast period, fueled by increasing commercial applications and supportive government initiatives.
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Solar Powered Drones Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Solar Powered Drones Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on solar powered drones market size, solar powered drones market drivers and trends, solar powered drones market major players, competitors' revenues, market positioning, and market growth across geographies. The solar powered drones market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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