Fuel Cell UAV Market to Grow at CAGR of 14.01% through 2032 – Collaborations Between Public and Private Entities to Bolster Growth: The Brainy Insights

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The development of an increasingly modern, advanced engine is expected to fuel the expansion of the fuel cell UAV market. Expanding public-private collaborations and technological advances in military applications are anticipated to provide attractive opportunities in the fuel cell UAV market. It is projected that the changing trend regarding the usage of drones for commercial and military surveillance will boost the market growth in the Asia-Pacific region.

Newark, April 20, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 1.53 billion in 2022 fuel cell UAV market will reach USD 5.67 billion by 2032. In addition to having the advantages of minimal thermal and noise patterns, fuel-cell-powered UAVs operate for longer than their battery-powered counterparts. Worldwide support is being given to the development of modern, cutting-edge engines since their unique features enable alternative uses for UAVs. On the other hand, expanding public-private partnerships and technical breakthroughs in military applications are anticipated to present market participants with lucrative expansion opportunities.

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Key Insight of the Fuel Cell UAV Market

Asia-Pacific is anticipated to expand at the highest CAGR of 16.04% over the projection period.

Asia-Pacific is expected to grow at the highest CAGR of 16.04% over the forecast period. This expansion has been attributed to China’s and India’s rising need for high-tech military hardware. Additionally, the market expansion in Asia-Pacific is anticipated to be fuelled by the shifting trend towards drones for commercial and military surveillance.

In the fuel cell UAV market, the solid oxide fuel cell segment is expected to register the highest CAGR of 17.48% over the projected period.

The solid oxide fuel cell segment is anticipated to grow at the highest CAGR of 17.48% in the fuel cell UAV market. The high efficiency, long-term stability, fuel flexibility, minimal emissions, and comparatively low cost of this type of fuel cell are added advantages. The chemical energy of a fuel and an oxidant is directly converted into electrical energy using solid oxide fuel cells (SOFC). SOFCs generate electricity through an electrochemical reaction rather than a combustion process, making them significantly more effective and ecologically friendly than traditional methods of generating electricity. They are ideally suited to address the environmental, climate change, and water challenges of producing electric power from fossil fuels because of their intrinsic qualities.

The hybrid segment is expected to register the highest CAGR of 18.13% in the fuel cell UAV market over the projected period.

Over the forecasted period, the hybrid segment is anticipated to grow at the highest CAGR of 18.13% in the fuel cell UAV market. Compared to rotary-wing UAVs, these advantages include a bigger payload capacity, increased endurance, stability, a longer combat radius, and a limited ability to direct without power. Fixed-wing and rotor-based drone models that combine both have many benefits. These wings have rotors attached, enabling them to hover and do vertical take-off and landing. There aren’t many hybrids on the market yet, but as technology develops, this option can grow much more popular in the years to come.

The military & defence segment is expected to register the highest CAGR of 17.02% in the fuel cell UAV market over the projected period.

Over the forecasted period, the military & defence segment is anticipated to grow at the highest CAGR of 17.02% in the fuel cell UAV market. Significant technological advancements have been made in the fuel cell market for military unmanned aerial vehicles (UAVs). The military and private sectors have been encouraged to buy the most recent models. The adoption of environmentally friendly propulsion technologies like fuel cells and solar cells is driving the growth of the global economy.

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Market Dynamics

Driver: Technological advancements

In addition to less heat and noise, fuel cell-powered UAV systems have a longer lifespan than their battery-operated counterparts. As a result, its excellent design features enable a wide range of UAV applications. The market for fuel cell UAVs is anticipated to grow due to the development of an increasingly cutting-edge engine.

Restraint: Disruptions due to pandemic

The COVID-19 pandemic significantly impacted the fuel cell UAVs market because of workforce dependency, working capital management, liquidity & solvency management, regulation and policy adjustments. The pandemic significantly affected the private and commercial sectors of the economy because of worker shortages and supply chain problems.

Opportunity: Collaborations between public and private entities

Expanding public-private partnerships and technological advancements in military applications are expected to offer the fuel cell UAV market attractive opportunities.

Challenge: High costs

The high cost of fuel cells and issues with UAV security can prevent the growth of the fuel cell UAV market during the projected period.

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Some of the major players operating in the fuel cell UAV market are:

• Boeing
• H3 Dynamics
• Elbit Systems Ltd.
• Intelligent Energy Limited
• ZeroAvia, Inc.
• MMC-UAV
• Ballard Power Systems
• EnergyOR
• Ultra
• Textron Inc.
• AeroVironment Inc.
• Jadoo Power Systems, Inc.
• Northrop Grumman Corporation

Key Segments cover in the market:

By Product Type:

• Solid Oxide Fuel Cell
• Hydrogen Fuel Cell
• Proton Exchange Membrane Fuel Cell

By Wing Type:

• Fixed Wing
• Hybrid
• Rotary Wing

By Application:

• Civil & Commercial
• Construction & Mining
• Military & Defence
• Logistics & Transportation
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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