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Fuel Cell UAV Market to Grow at a CAGR of 13.4% and will Reach USD 5.4 billion by 2032

04-24-2024 08:18 AM CET | Aerospace & Defense

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Fuel Cell UAV Market

Fuel Cell UAV Market

The growth of the global ๐…๐ฎ๐ž๐ฅ ๐‚๐ž๐ฅ๐ฅ ๐”๐€๐• ๐Œ๐š๐ซ๐ค๐ž๐ญ 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. The global fuel cell UAV market size was valued at $1.6 billion in 2022, and is projected to reach $5.4 billion by 2032, growing at a CAGR of 13.4% from 2023 to 2032.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: 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.

๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

๐€๐ž๐ซ๐จ๐•๐ข๐ซ๐จ๐ง๐ฆ๐ž๐ง๐ญ ๐ˆ๐ง๐œ., ๐๐š๐ซ๐ง๐š๐ซ๐ ๐Œ๐ข๐œ๐ซ๐จ๐ฌ๐ฒ๐ฌ๐ญ๐ž๐ฆ๐ฌ ๐‹๐ญ๐., ๐„๐ง๐ž๐ซ๐ ๐ฒ๐Ž๐‘ ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ, ๐„๐ฅ๐›๐ข๐ญ ๐’๐ฒ๐ฌ๐ญ๐ž๐ฆ๐ฌ ๐‹๐ญ๐., ๐‡๐จ๐ซ๐ข๐ณ๐จ๐ง ๐…๐ฎ๐ž๐ฅ ๐‚๐ž๐ฅ๐ฅ ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ, ๐๐ฅ๐ฎ๐  ๐๐จ๐ฐ๐ž๐ซ ๐ˆ๐ง๐œ., ๐“๐ž๐ฑ๐ญ๐ซ๐จ๐ง ๐ˆ๐ง๐œ., ๐ˆ๐’๐’ ๐€๐ž๐ซ๐จ๐ฌ๐ฉ๐š๐œ๐ž, ๐๐จ๐ซ๐ญ๐ก๐ซ๐จ๐ฉ ๐†๐ซ๐ฎ๐ฆ๐ฆ๐š๐ง, ๐๐จ๐ž๐ข๐ง๐ 

The concept of fuel cell UAVs is typically attributed to the transportation options that use propulsion technology, which does not produce internal combustion engine exhaust or other carbon emissions when it operates. It is primarily designed to replace conventional means 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 is 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.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/fuel-cell-uav-market/purchase-options

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.

Fuel cell UAV market players are focused on the development of technologically advanced products to further strengthen their position in the global market. Companies offer new products to penetrate the market and are dedicated to expanding their presence in untapped markets. Moreover, the increased application areas among aerial imaging, surveillance, LiDAR, geospatial services, and other mapping services act as a driver for the increased demand for fixed wing drone segment. To serve market opportunities among various sectors, companies are collaborating with regional players to capture the increasing demands from a particular market.

For instance, in December 2021, ZeroAvia, Inc. signed a Memorandum of Understanding (MoU) to design & develop hydrogen-electric engines for both new and in-service Dash 8-400 aircraft. It is considered as one of the most dependable turboprop aircraft globally, equipped with hydrogen electric propulsion and power-by-the-hour (PBH) assistance. As part of the MoU, ZeroAvia, Inc. is expected to create a flight demonstrator using a Dash 8-400 aircraft to showcase the operational & commercial potential of the engine prior to its certification. Thus, rise in public-private partnerships are expected to provide lucrative opportunities for the fuel cell UAV market globally.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

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.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A10660

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.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

By product type, the solid oxide fuel cell segment is anticipated to exhibit significant growth in the future.

By end use, the others security segment is anticipated to dominate the market in the coming future.

By type, the rotary wing segment is anticipated to lead the market.

By weight, the more than 50 kg segment is anticipated to exhibit fastest growth from 2023-2032.

By application, the others segment is anticipated to exhibit significant growth in the future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Electric Aircraft Market - https://www.alliedmarketresearch.com/electric-aircraft-market

Aircraft Engines Market - https://www.alliedmarketresearch.com/aircraft-engines-market

Small Satellite Market - https://www.alliedmarketresearch.com/small-satellite-market

Aircraft Manufacturing Market - https://www.alliedmarketresearch.com/aircraft-manufacturing-market-A53658

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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.

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