UAV propulsion system market Forecasting Market Growth and Size in 2023-2031

The global UAV (Unmanned Aerial Vehicle) propulsion system market is anticipated to grow at a CAGR of over 14.1% during the forecast period of 2022 to 2030.

The market's growth is driven by factors such as the technological shift towards incorporating AI into UAVs to achieve advanced features like dynamic target tracking capability and visual surveillance.

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Major market players included in this report are Ballard Power Systems Inc., LaunchPoint Technologies Inc., Northwest UAV, ORBITAL CORPORATION, Rotron Power Ltd., Safran SA, Hirth Engines GmbH (UMS SKELDAR AG), Honeywell International Inc., Rolls-Royce plc, BRP-Rotax GmbH & Co KG, MicroMultiCopter Aero Technology Co., Ltd., Sky Power GmbH, UAV Propulsion Tech, and UAV Turbines, Inc.

The objective of this study is to define market sizes of different segments and countries in recent years and forecast their values for the next eight years. The report incorporates both qualitative and quantitative aspects of the industry within each region and country involved in the study. It provides detailed information about driving factors, challenges, opportunities, competitive landscape, and product offerings of key players.

The market segments and sub-segments are as follows:

By Engine Type:
- Electric Propulsion Systems
- Thermal Propulsion Systems
- Hybrid Propulsion Systems

By UAV Type:
- Micro UAV
- Mini UAV
- Tactical UAV
- MALE UAV
- HALE UAV

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By Range:
- Long Range
- Mid-Range
- Short Range

By End User:
- Military & Civil
- Commercial
- Consumers

The regional analysis covers North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Spain, Italy, Russia, Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, Rest of Asia Pacific), South America (Brazil, Argentina, Rest of South America), and the Middle East & Africa (UAE, Saudi Arabia, South Africa, Rest of MEA).

The study considers historical years as 2017 and 2020, the base year as 2021, and the forecast period from 2022 to 2030.

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The target audience for this market study includes key consulting companies and advisors, large, medium-sized, and small enterprises, venture capitalists, value-added resellers (VARs), third-party knowledge providers, investment bankers, and investors.

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