Solar-Powered Drone Market - Forecast(2024 - 2030)

Report Code: ESR 0887 Report Format: PDF + Excel

Solar-Powered Drone Market Overview:

 
Solar-Powered Drone Market size is estimated to reach $3 billion by 2030, growing at a CAGR of 14.5% during the forecast period 2024-2030. Solar-powered drones are experiencing significant market growth primarily due to their versatility and eco-friendly features. These drones are equipped with solar panels that harness renewable energy, enabling extended flight times and reducing the dependence on traditional power sources.
 
The surge in demand for Solar-Powered Drones can be attributed to their remarkable flight endurance achieved through solar panels, significantly increasing operational time and reducing dependency on traditional power sources. These drones find application in various sectors such as agriculture, surveillance, and environmental monitoring, leveraging their capability to cover large areas efficiently and transmit valuable data in real-time. For instance, In February 2023, Garuda Aerospace unveiled its latest solar-powered unmanned reconnaissance aerial J-Glider – SURAJ at the Aero India 2023 show in Bengaluru. Additionally, advancements in unmanned aerial vehicle (UAV) technology for solar panel inspection and maintenance contribute to the growing interest in solar-powered drone deployment. These factors positively influence the Solar-Powered Drone industry outlook during the forecast period.
 

Market Snapshot: 

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Solar-Powered Drone Market - Report Coverage:
 
The “Solar-Powered Drone Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Solar-Powered Drone Market.
 
Attribute Segment

By Product Type

  • Fixed-Wing Drones

  • Rotary-Wing (Multi-Rotor) Drones

  • Hybrid Wing Drones

By Application

  • Filming and Photography

  • Inspection and Maintenance

  • Others

By Range

  • Short

  • Medium

  • Long

By End Use

  • Agriculture

  • Energy

  • Military

  • Telecommunication

  • Delivery and Logistics

  • Others

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID -19 / Ukraine Crisis - Impact Analysis:  

 
The Covid-19 pandemic has presented both challenges and opportunities for the Solar-Powered Drones industry. Supply chain disruptions, labor shortages, and economic uncertainties initially posed obstacles. However, the heightened focus on sustainability and the need for contactless solutions in a post-pandemic world have accelerated the adoption of solar-powered drones in various sectors. This shift aligns with the industry's resilience and adaptability, showcasing its ability to navigate and capitalize on changing market dynamics.
 
The Russia-Ukraine war has had a notable impact on the Solar-Powered Drones industry, influencing supply chains and market dynamics. Political tensions and disruptions in the region have led to uncertainties in the production and distribution of critical components, affecting the overall availability of solar-powered drone technologies. Additionally, geopolitical instability has introduced challenges for international collaborations and trade, further shaping the landscape of the industry as it navigates through geopolitical complexities.
 

Key Takeaways: 

 
Asia-Pacific to Register Highest Growth
 
Geographically, in the global Solar-Powered Drone Market, Asia-Pacific is analyzed to grow with the highest CAGR of 15.2% during the forecast period 2024-2030. In recent years, the Asia Pacific region has positioned itself as the epicenter of rapid growth within the solar-powered drone industry, showcasing an unprecedented surge in demand and innovation. The market dynamics in this region are underscored by a confluence of factors that contribute to its prominence. Firstly, the region's robust economic development, led by technological powerhouses such as China, Japan, and India, has fostered a fertile ground for the adoption of cutting-edge technologies like solar-powered drones, amplifying their applications across various sectors and launching new products. For instance, In February 2023, Garuda Aerospace unveiled its latest solar-powered unmanned reconnaissance aerial J-Glider – SURAJ at the Aero India 2023 show in Bengaluru. Additionally, the commitment to sustainable practices and environmental consciousness has driven the proliferation of renewable energy solutions, with solar-powered drones at the forefront. The Asia Pacific region, comprising nations like China, India, Japan, Australia, and others, has witnessed a substantial increase in investments and initiatives aimed at harnessing the potential of solar-powered drones for tasks ranging from surveillance to agriculture.
 
Fixed-Wing Drones Segment to Register the Fastest Growth
 
In the Solar-Powered Drone Market analysis, the Fixed-Wing Drones segment is estimated to grow with the highest CAGR of 15.3% during the forecast period 2024-2030. The Solar-Powered Drone industry is witnessing a significant surge in innovation and market expansion, with Fixed-Wing Drones emerging as the fastest-growing segment. Unlike their multi-rotor counterparts, Fixed-Wing Drones boast remarkable efficiency and endurance, making them ideal for extended flight durations and large-scale operations. These drones leverage solar power to enhance their endurance, providing a sustainable and cost-effective solution for various applications. Their design enables efficient energy harvesting, allowing them to stay airborne for extended periods, making Fixed-Wing Drones particularly attractive for surveillance, monitoring, and data collection in sectors like agriculture, environmental research, and infrastructure inspection. In July 2023, IG Drones, a trailblazing drone manufacturer, has unveiled the highly anticipated Delta 400, a groundbreaking drone that sets new standards in the Indian market. Designed exclusively for large-scale industries' mapping requirements, this Fixed-wing system offers unparalleled capabilities surpassing those of traditional quadcopters.
 
Rising Demand from Military Sector is Propelling the Market Growth.
 
The solar-powered drones’ market is experiencing significant growth, primarily driven by the rising demand from the military sector. As governments worldwide recognize the strategic advantages of solar-powered drones, the military has become a key driving force behind the increased market demand. Solar-powered drones offer extended flight times, reduced operational costs, and enhanced surveillance capabilities, making them invaluable for military applications such as intelligence, surveillance, reconnaissance (ISR), border surveillance, and tactical operations. The adoption of these unmanned aerial vehicles (UAVs) in the military underscores a shift towards advanced technologies for persistent surveillance and improved operational effectiveness.
 
Integration Costs and Operational Efficiency Limiting the Market Growth.
 
The solar-powered drone industry encounters significant challenges related to integration costs and operational efficiency. One of the primary hurdles is the expensive integration of advanced technology into solar-powered drones. The incorporation of cutting-edge features and systems increases the overall cost, impacting the affordability and accessibility of these drones. Balancing the need for advanced capabilities with cost-effectiveness remains a critical consideration for manufacturers and users alike. Additionally, operational efficiency poses a challenge, as optimizing the performance of solar-powered drones while maintaining a reasonable operational cost is a complex task. The operational efficiency challenge extends to the complexity of managing the energy captured by the solar panels effectively. Ensuring a consistent power supply for sustained flight without compromising the drone's weight and maneuverability demands innovative solutions.
Solar-Powered Drone Market Share (%) By Region, 2023

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Solar-Powered Drone Market. The top 10 companies in this industry are listed below:
1. AeroVironment Inc
2. Atlantiksolar
3. Garuda Aerospace
4. Airbus
5. Xsun
6. Sunlight Photonics Inc
7. Kea Aerospace
8. Alta Devices
9. Skyfront
10. Aetos Drones
 

Scope of the Report:-

 
Report Metric Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

14.5%

Market Size in 2030

$3 billion

Segments Covered

Product Type, Application, Range, End Use and Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  1. AeroVironment Inc

  2.  Atlantiksolar

  3. Garuda Aerospace

  4.   Airbus

  5.  Xsun

  6. Sunlight Photonics Inc

  7.  Kea Aerospace

  8.  Alta Devices

  9. Skyfront

  10. Aetos Drones

 

 
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1. Solar-Powered Drone Market - Overview
    1.1 Definitions and Scope
2. Solar-Powered Drone Market - Executive Summary
3. Solar-Powered Drone Market - Comparative Analysis
    3.1 Company Benchmarking 
    3.2 Global Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Solar-Powered Drone Market - Start-up Companies Scenario 
    4.1 Key Start-up Company Analysis by
      4.1.1 Investment
      4.1.2 Revenue
      4.1.3 Venture Capital and Funding Scenario
5. Solar-Powered Drone Market – Industry Market Entry Scenario Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Solar-Powered Drone Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
      6.3.1 Bargaining power of suppliers
      6.3.2 Bargaining powers of customers
      6.3.3 Threat of new entrants
      6.3.4 Rivalry among existing players
      6.3.5 Threat of substitutes 
7. Solar-Powered Drone Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Solar-Powered Drone Market Segment Analysis – By Product Type
    8.1 Fixed-Wing Drones
    8.2 Rotary-Wing (Multi-Rotor) Drones
    8.3 Hybrid Wing Drones
9. Solar-Powered Drone Market Segment Analysis – By Application
    9.1 Filming and Photography
    9.2 Inspection and Maintenance
    9.3 Other 
10. Solar-Powered Drone Market Segment Analysis – By Range
    10.1 Short
    10.2 Medium
    10.3 Long
11. Solar-Powered Drone Market Segment Analysis – By End Use
    11.1 Agriculture
    11.2 Energy
    11.3 Military
    11.4 Telecommunication
    11.5 Delivery and Logistics
    11.6 Others
12. Solar-Powered Drone Market Segment Analysis -By Geography 
    12.1 North America
      12.1.1 U.S.
      12.1.2 Canada
      12.1.3 Mexico
    12.2 Europe
      12.2.1 U.K.
      12.2.2 Germany
      12.2.3 France
      12.2.4 Italy
      12.2.5 Spain
      12.2.6 Russia
      12.2.7 Rest of Europe
    12.3 Asia-Pacific
      12.3.1 China
      12.3.2 India
      12.3.3 Japan
      12.3.4 South Korea
      12.3.5 Australia & New Zealand
      12.3.6 Rest of Asia-Pacific
    12.4 South America
      12.4.1 Brazil
      12.4.2 Argentina
      12.4.3 Chile
      12.4.4 Colombia 
      12.4.5 Rest of South America
    12.5 Rest of the World
      12.5.1 Middle East
      12.5.2 Africa
13. Solar-Powered Drone Market - Entropy
14. Solar-Powered Drone Market – Industry/Segment Competition Landscape  
    14.1 Market Share Analysis
      14.1.1 Global Market Share – Key Companies
      14.1.2 Market Share by Region – Key companies
      14.1.3 Market Share by Countries – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Solar-Powered Drone Market – Key Company List by Country Premium 
16. Solar-Powered Drone Market - Company Analysis
    16.1 AeroVironment Inc
    16.2 Atlantiksolar
    16.3 Garuda Aerospace
    16.4 Airbus
    16.5 Xsun
    16.6 Sunlight Photonics Inc
    16.7 Kea Aerospace
    16.8 Alta Devices
    16.9 Skyfront
    16.10 Aetos Drones
 
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The Solar-Powered Drone Market is projected to grow at 14.5% CAGR during the forecast period 2024-2030.

Global Solar-Powered Drone Market size is estimated to be $1 billion in 2023 and is projected to reach $3 billion by 2030.

The leading players in the Solar-Powered Drone Market are AeroVironment Inc, Atlantiksolar, Garuda Aerospace, Airbus, Xsun and others.

The expansion of solar-powered drones into diverse industries such as agriculture, surveillance, environmental monitoring, and telecommunications is a prominent trend. These drones offer versatile solutions for various applications, contributing to their increased adoption across sectors.

The emphasis on eco-friendly technologies is driving the demand for solar-powered drones. Their ability to harness renewable energy aligns with global sustainability goals, making them attractive to industries seeking environmentally conscious solutions. Government initiatives and support for the development and deployment of solar-powered drones, particularly in defense and surveillance applications, create opportunities for market growth.