Key Questions Answered in this Report:
- What are the key trends in the global UAV propulsion market across different regions?
- What are the major driving factors in global UAV propulsion system market during the forecast period 2019-2024?
- What are the major challenges inhibiting the growth of the global UAV propulsion system market?
- Which engine type of the global UAV propulsion market dominated in 2018, and what would be the expected scenario by 2024?
- What was the revenue generated by the global UAV propulsion system market by engine type, UAV type, application type, and region in 2018, and what would be the estimates for the same by 2024?
- What was the aggregate revenue generated by the global UAV propulsion system market segmented by region (North America, Europe, Asia-Pacific, and Rest-of-the-World) in 2018, and what would be the estimates by 2024?
- Who are the key players in the global UAV (unmanned aerial vehicle) propulsion system and what are the new strategies adopted by the market players to make a mark in the industry?
- What major opportunities do the UAV propulsion system companies foresee in the next 5 years?
- What is the competitive strength of the key leading players in the UAV propulsion system market?
Global UAV Propulsion System Market Forecast, 2019-2024
The UAV(unmanned aerial vehicle) propulsion industry analysis by BIS Research projects the market to grow at a moderate CAGR of 8.73% on the basis of value during the forecast period from 2019 to 2024. North America dominated the global UAV propulsion system market with a share of 77.37% in 2018. North America, including the major countries such as the U.S., is currently the most prominent region for the UAV propulsion system market. In North America, the U.S. acquired a major market share in 2018 due to the major usage of UAVs in military, government, and commercial applications.
The global UAV propulsion system market has gained widespread importance owing to the growing need to deploy UAVs in diverse and emerging application. However, high cost of development and restrictions on UAV propulsion due to certain set standards of emission and noise are some of the chief factors that are restraining the market growth.
“Paradigm shift toward electrically powered drones are expected to drive the unmanned aerial vehicle propulsion system market due to increasing usage in emerging applications”.
Scope of the Global UAV Propulsion System Market
The UAV propulsion system market research provides detailed market information for segmentation such as UAV type, engine type, application type and region. The purpose of this market analysis is to examine the UAV propulsion system market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market.
The UAV propulsion system market is further segmented into UAV type, engine type, application, and region. In terms of volume, the electrically powered UAVs dominated the global UAV propulsion system market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2024).
While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the industry that is analyzed. The report also analyzes different engine type that includes piston engine, wankel engine, turboprop engine, turbofan engine, electrically powered, and solar powered. In the UAV type segment, the market is segmented into micro UAV, mini UAV, tactical UAV, MALE UAV, and HALE UAV. In application segment, the market is segmented into military and government and commercial applications.
The UAV propulsion system market is segregated into four major regions, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is provided.
Key Companies in the Global UAV Propulsion System Market
The key market players in the global UAV propulsion system market include HES Energy Systems, RCV Engines, Advanced Innovative Engineering, UAV Propulsion Tech, Honeywell International Inc., United Technologies Corporation- Pratt & Whitney Division, 3W International GmbH, Austro Engine GmbH, Hirth Engines GmbH, UAV Factory, BRP-Rotax GmbH & Co.KG, UAV Engines LTD, and Northrop Grumman Corporation.