The global UAV propulsion systems market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). UAV stands for the unmanned aerial vehicle that is widely used in the military and defense sector for monitoring and tracking applications. A UAV propulsion system is defined as the system or a type of engine that provides a continuous supply of power to assure an uninterrupted continuous flight of UAVs. There are two types of propulsion technologies including a conventional UAV propulsion system and an electric propulsion system. Conventional propulsion system utilizes internal combustion (IC) engine and stores energy in the form of fuel to perform their operations while an electric propulsion system utilizes batteries and fuel cells as energy storage devices to perform their operations.
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The increasing penetration of UAVs and drones in various applications including aerial photography, geographical mapping of inaccessible terrain and locations, border control surveillance, unmanned cargo transport, tracking of storms and disasters in the commercial sector is anticipated to supplement the market growth. The emergence of new-generation UAV engines with enhanced technological efficiencies and capabilities is expected to drive the growth of the market. Furthermore, the growing demand for fuel-efficient, high-performance alternative UAVs in the military and commercial sectors with environmental concern is anticipated to create lucrative growth opportunities for the manufacturers of UAV propulsion systems, which, in turn, is projected to drive the market growth during the forecast period.
Moreover, the key players present in the global UAV propulsion systems market include Honeywell International Inc., Rolls-Royce PLC, BRP-Rotax GmbH & Co. KG, and others adopted various strategies that include product launches, mergers & acquisitions, among others to remain competitive in the market. For instance, in October 2019, Elbit System Inc. signed a contract for about $153 million to deliver 1000 units of THOR drones and other UAVs in South-East Asian countries. Additionally, in January 2019, Sky Power GmbH announced the launch of SP-210 FI TS, a two-stroke engine for UAVs. It can rotate at a speed of 5,000 rpm, that is, about 480 gr/HP/hour.
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Market Coverage
- Segment Covered-
o By Engine Type
o By Application
o By UAV Type
- Competitive Landscape- Honeywell International Inc., Rolls-Royce PLC, BRP-Rotax GmbH & Co. KG, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global UAV Propulsion Systems Market Report Segmentation
By Engine Type
- Conventional
- Hybrid
- Full-Electric
By Application
- Civil & Commercial
- Military
By UAV Type
- Micro UAV
- Mini UAV
- Tactical UAV
- MALE UAV
- HALE UAV
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