Fuel Cell UAV Market to Reach $5.38 Billion, Globally, by 2032 at 13.4% CAGR: Allied Market Research

The growth of the global fuel cell UAV market is driven by factors such as rise in demand for improved surveillance, increase in need for higher payload capacity UAVs, and supportive growth through regulatory compliance.

WILMINGTON, Del., March 6, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Fuel Cell UAV Market by Product Type (Hydrogen Fuel Cell, Solid Oxide Fuel Cell, and Proton Exchange Membrane Fuel Cell), End Use (Passenger UAV, Cargo UAV, and Others), Type (Fixed Wing, Rotary Wing, and Hybrid), Weight (Less Than 50 Kg and More Than 50 Kg), and Application (Military & Defense, Civil & Commercial, Logistics & Transportation, Construction & Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032".

 According to the report, the global fuel cell UAV industry size generated $1.56 billion in 2022 and is anticipated to generate $5.38 billion by 2032, witnessing a CAGR of 13.4% from 2023 to 2032.

(We are providing fuel cell UAV industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

• 222 - Tables
• 61 - Charts
• 348 - Pages

Download Sample Report and Table of Content - https://www.alliedmarketresearch.com/request-sample/A10660

 Prime Determinants of Growth

The growth of the global fuel cell UAV market is driven by factors such as rise in demand for improved surveillance, increase in need for higher payload capacity UAVs, and supportive growth through regulatory compliance. However, increase in security issues and cyber threat and high cost of fuel cells for UAV solutions hamper the growth of the market. On the contrary, technological advancements in military applications and surge in public-private partnerships to offer remunerative opportunities for the expansion of the fuel cell UAV market during the forecast period.

 Report Coverage and Details:

Impact of Russia–Ukraine War Scenario on Fuel Cell UAV Industry

• On February 24, 2022, Russia invaded Ukraine, leading to the Russo–Ukrainian war that began in 2014. Due to geopolitical conflicts, there is an emergence of global economic uncertainties. The Russia-Ukraine conflict has had significant implications for the global fuel cell UAV industry. With geopolitical realignments underway and renewed focus on European defense spending, the crisis has reshaped market dynamics and demand drivers.
• Overall, the Russia-Ukraine war introduces various challenges and risks for the fuel cell UAV industry, including supply chain disruptions, geopolitical concerns, and market uncertainties.

The hydrogen fuel cell segment to maintain its leadership status throughout the forecast period

Depending on product type, the hydrogen fuel cell segment held the highest market share in 2022, accounting for more than half of the global fuel cell UAV market revenue and is estimated to maintain its leadership status throughout the forecast period. This is owing to the rise in environmental concerns and government authorities are shifting toward a hydrogen economy by executing numerous policies to develop hydrogen-based fuel cells and hydrogen refueling stations for vehicles. However, the solid oxide fuel cell segment is projected to register the highest CAGR of 14.9% from 2023 to 2032, as the solid oxide fuel cell (SOFC) can operate at high temperatures, which reduces the need for costly catalysts, such as ruthenium.

Recent Advancements in Fuel Cell UAV Technology

• In April 2023, DroneUp, in partnership with Walmart, revealed plans to test cutting-edge hydrogen fuel cell technology. Developed by South Korea's Doosan Mobility Innovation (DMI), the technology aims to extend drone flight times to two to five hours. DMI, collaborating with MIT's Electric Vehicle Team, is also working on an open-source hydrogen-fuel-cell motorcycle.
• In January 2022, Southern California Gas Co. (SoCalGas), alongside Doosan Mobility Innovation (DMI) and GTI, introduced DMI's hydrogen drone technology at CES Las Vegas. SoCalGas plans to employ the DS30 drone, powered by a fuel cell, for natural gas pipeline inspections, enhancing maintenance with advanced imagery and aerial mapping.
• In June 2022, Intelligent Energy Limited inked a manufacturing deal with Hogreen Air in South Korea, expanding its hydrogen fuel cell production for drones and automotive applications in the region.
• In March 2021, Boeing subsidiary Insitu unveiled ScanEagle3, an all-electric UAV utilizing a hydrogen-fueled proton exchange membrane (PEM) fuel cell. The UAV, operational since December 2020, has conducted successful test flights, lasting up to half an hour.

Looking for Vendor Sourcing and Supplier Information, Regional/ Country Specific Study - https://www.alliedmarketresearch.com/request-for-customization/A10660

The others segment to maintain its leadership status throughout the forecast period

On the basis of end use, the others segment held the highest market share in 2022, accounting for nearly half of the global fuel cell UAV market revenue and is anticipated to maintain its leadership status throughout the forecast period as fuel cell UAVs are gaining traction across other industries due to the increased application among different industries and areas, such as keeping a watch over remote locations, miming surveillance, and medical product delivery. Moreover, the cargo UAV segment is projected to manifest the highest CAGR of 14.6% from 2023 to 2032, owing to increase in cargo supply activities at different locations.

The rotary wing segment to maintain its leadership status throughout the forecast period

On the basis of type, the rotary wing held the highest market share in 2022, accounting for nearly three-fifths of the global fuel cell UAV market revenue and is anticipated to maintain its leadership status throughout the forecast period as the prominent companies in this market include SZ DJI Technology Co., 3D Robotics, Inc., Parrot SA, Yuneec International Co. Ltd., and others. These companies are offering highly advanced products to customers to meet their professional business needs. Moreover, the hybrid segment is projected to manifest the highest CAGR of 15.0% from 2023 to 2032, as deployment of hybrid UAVs enables various advantages such as reduced operational footprint, ease of portability, reduced initial system and ongoing operational costs.

The less than 50 kg segment to maintain its lead position during the forecast period

Depending on weight, the less than 50 kg segment garnered the largest share in 2022, accounting for nearly two-thirds of the global fuel cell UAV market revenue and is estimated to maintain its leadership status throughout the forecast period owing to the growing requirement for surveillance and survey applications. Moreover, the more than 50 kg segment is projected to record the highest CAGR of 14.2% from 2023 to 2032, owing to its high-end military applications for surveillance and security applications and modern weaponries, which are attached on the UAV.

The civil and commercial segment to maintain its lead position during the forecast period

By application, the civil and commercial segment acquired the largest share in 2022, accounting for nearly one-third of the global fuel cell UAV market revenue and is estimated to maintain its leadership status throughout the forecast period as unmanned aerial vehicles are finding applications in aiding the management at construction sites, detecting methane in gas pipeline infrastructure and landfills, precision agriculture and farming, and various other commercial applications. Moreover, the others segment is projected to register the highest CAGR of 16.0% from 2023 to 2032, as consumers have increasingly used UAVs for recreational purposes, including personal interests and photography by citizens.

North America to maintain its dominance by 2032

Region-wise, North America held the highest market share in terms of revenue in 2022, accounting for nearly half of the market revenue, and is expected to dominate the market during the forecast period, owing to multiple military and law enforcement modernization and enhancement programs underway in the region. However, Asia-Pacific is expected to witness the highest CAGR of 16.2% from 2023 to 2032, owing to the rise of adoption of UAV data services and rise in development of UAV and related software across major economies, such as China and India.

Key Report Highlights:

• The fuel cell UAV market analysis covers over 16 countries, offering a segmented evaluation of each country's value ($ billion) for the forecast period 2022-2032.
• This study incorporates top-tier data, professional insights, and critical independent perspectives to provide a comprehensive view of global markets. The research approach aims to aid stakeholders in making informed decisions to attain ambitious growth objectives.
• Extensive review of more than 3,700 product literature, annual reports, industry statements, and similar materials from major industry participants enhances market understanding.

Procure Complete Research Report (PDF with Qualitative and Quotative Data, Insights, Statistics, Tables, Charts, Figures) - https://www.alliedmarketresearch.com/fuel-cell-uav-market/purchase-options

Leading Market Players

• AeroVironment Inc.
• Ballard Power Systems
• Boeing
• Elbit Systems Ltd.
• EnergyOR
• General Atomics
• H3 Dynamics
• Horizon Fuel Cell Technologies
• Intelligent Energy Limited
• Israel Aerospace Industries (IAI)
• ISS Aerospace
• Jadoo Power Systems, Inc.
• MMC-UAV
• Northrop Grumman Corporation
• Textron Inc.
• Ultra
• ZeroAvia, Inc.

The report provides a detailed analysis of these key players in the global fuel cell UAV market. These players have adopted various strategies such as contracts, agreements, partnerships, and expansion to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

AMR Resource Center: https://www.alliedmarketresearch.com/resource-center

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg