UAV Propulsion System Market Overview
The global UAV propulsion system market is estimated to reach $10.76 billion in 2033, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 2.33% during the forecast period 2023-2033.
The global UAV propulsion system market has witnessed a high growth rate in the last five to six years owing to its widespread applications across various industries, which were further bolstered by the COVID-19 pandemic. Further, large-scale expansion of industries has rendered the necessity to level up and improve their surveillance and security deployment, warehouse and inventory management, and product delivery, especially the supply of medical essentials during the pandemic. Favorable government initiatives have created a positive outlook for the market as improved UAV production capacities of UAV manufacturers elevated the need for suitable and efficient engines.
USP of the Report
• Dedicated section on growth opportunities and recommendations
• Qualitative and quantitative analysis of the global UAV propulsion system market based on applications and products at the regional- and country-level segments
Analyst Perspective
According to Arunkumar Sampath Kumar, Principal Analyst, CRI Report, the deployment of unmanned aerial systems is growing across various applications. Owing to the growing need for long-duration and long-distance missions, drones with IC engines are being preferred over the ones with electric propulsion. This is also driving the migration of drone platforms to IC engines from existing electric-based propulsion systems. The need for IC engines for drone platforms is growing as a consequence. With many types of drones being developed for different use cases, the demand for electric and IC engine-based propulsion capabilities will grow moving forward. The drone manufacturers will remain critical in deciding which platforms are available across electric and IC engine variants.
Key Companies Operating in The Market
Key players in the global UAV propulsion systems market analyzed and profiled in the study involve UAV propulsion system manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global UAV propulsion system market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as contracts, partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include 3W International GmbH, BRP-Rotax GmbH & Co KG, Diamond Aircraft Industries (Austro Engine), Gemini Diesel (Superior Aviation Group), HIRTH ENGINES GMBH, Rotron Power Ltd., Suter Industries AG, UAV Engines Ltd., Advanced Innovative Engineering Ltd., Pratt & Whitney Inc. (Part of Raytheon Technologies), Avio Aero (GE Aviation), Rolls-Royce Holdings PLC, PBS India (Part of PBS Aerospace), and UAV Turbines Inc. (Subsidiary of Locust USA Inc.)
Key Questions Answered in the Report
• What are the trends in the global UAV propulsion system market, and how is the market expected to change over the forecast period 2023-2033?
• What are the key drivers and challenges for the UAV propulsion system manufacturers operating in the global UAV propulsion system market?
• What will be the growth trend of the market over the forecast period 2023-2033?
• What are the existing and emerging opportunities to expand businesses in the global UAV propulsion system market?
• What are some of the key business and corporate strategies implemented by the key market players to survive in a highly competitive environment?
• Which region is expected to dominate the global UAV propulsion system market by 2033 at an overall level, application level, and product level?
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