Fuel cell UAV market to reach $4,472.92 million in 2031

The concept of fuel cell UAVs is typically attributed to the transportation options that use a propulsion technology, which does not produce internal combustion engine exhaust or other carbon emissions when it operates. It is primarily designed to replace conventional ways of travel as they lead to environmental pollution. The fuel cell UAVs are electrochemical devices that convert chemical energy from fuels & oxidizers, without combustion, into useful electrical energy that can be used to power devices and vehicles. Recently, fuel cell UAVs have emerged as a viable alternative fuel to replace the conventional UAVs using gasoline or jet fuel for their operations, which are gradually depleting globally.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/fuel-cell-uav-market/purchase-options

According to a new report published by Allied Market Research, titled, "Fuel Cell UAV Market," The fuel cell UAV market size was valued at $1.4 billion in 2021, and is estimated to reach $4.5 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031.

In addition, the fuel cell UAV market has witnessed significant growth in recent years, owing to the continuous improvement in technology and involvement from various industry leaders has made the development of fuel-cells for UAV successful. For instance, in April 2019, Ballard Unmanned Systems, Inc., a subsidiary of Ballard Power Systems, Inc. announced the launch of the FCair fuel cell product line at the AUVSI Xponential Annual Conference, Chicago. It was a fuel cell power solution for commercial unmanned aerial vehicles (UAVs) with built-in hybrid battery control and charging. Furthermore, it was capable of delivering up to 1200 watts of power. Furthermore, the companies operating in the fuel cell UAV industry have adopted partnerships, investments, and agreements to increase their market share and expand their geographical presence. For instance, in June 2022, Intelligent Energy Limited signed a manufacturing agreement with Hogreen Air, a manufacturer of hydrogen fuel cells and intelligent tech products to manufacture hydrogen fuel cells in South Korea. This provided Intelligent Energy Limited the opportunity to offer a wider range of products across drones and automotive segment in South Korea as well as the South East Asian region.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬: https://www.alliedmarketresearch.com/request-sample/11025

Upsurge in military spending, growth in the demand for improved surveillance, and supportive growth through regulatory compliance are expected to drive the growth of the fuel cell UAV market. However, increase in security issues & cyber threat and high cost of fuel cells for UAV solutions restrain the growth of the market. On the contrary, technological advancements in military applications and increasing public-private partnerships are projected to offer lucrative growth opportunities for the market players.

The leading players operating in the fuel cell UAV market are 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, and ZeroAvia, Inc.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/11025

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

- By product type, the solid oxide fuel cell segment dominated the global fuel cell UAV market in 2021 in terms of growth rate.
- On the basis of end use, the cargo UAV segment is anticipated to exhibit a remarkable growth during the forecast period.
- On the type, the hybrid segment is the highest contributor to the fuel cell UAV market in 2021 in terms of growth rate.
- By weight, the more than 50 kg segment is anticipated to exhibit a remarkable growth during the forecast period.
- On the basis of application, the others segment is anticipated to exhibit a remarkable growth during the forecast period.
- By region, Asia-Pacific is anticipated to exhibit a remarkable growth during the forecast period.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
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Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.

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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.

This release was published on openPR.