Energy Storage Market for UAVs by Product and Geography - Forecast and Analysis 2022-2026
The "Energy Storage Market for Unmanned Aerial Vehicles (UAVs) by Product and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report predicts the market to witness an accelerating growth momentum at a CAGR of 17.97%. The market growth potential is anticipated to increase by USD 2.26 billion from 2021 to 2026. 41% of the market growth will originate from North America with the US emerging as the key revenue-generating economy in the region. Product innovation will facilitate the energy storage market for unmanned aerial vehicles (UAVs) growth in North America over the forecast period. Furthermore, the report highlights that market for UAVs remained resilient despite the pandemic.
Technavio has announced its latest market research report titled Energy Storage Market for Unmanned Aerial Vehicles (UAVs) by Product and Geography - Forecast and Analysis 2022-2026
Prominent Market Dynamics
Key Driver: The growing affordability and popularity of UAVs among hobbyists are one of the key drivers fueling the energy storage market growth for drones. Manufacturers are selling drones having identical functioning, leading to intense competition in the global UAV market. This is also driving down the cost of drones as manufacturers are striving to maintain or increase their market shares. The lowered costs of drones will further fuel the adoption of UAVs.
Key Trend: The use of artificial intelligence in autonomous UAVs is one of the key energy storage market trends for unmanned aerial vehicles (UAVs) supporting the market growth. The need to increase operational efficiency is leading to the introduction of AI in the global UAV market, which will lead to the growth of the global energy storage market for UAVs during the forecast period.
Key Challenge: SWaP and other network-based constraints is one of the challenges limiting the energy storage market growth for drones. It is challenging for developers to integrate more sensor modules onboard a UAV system and still adhere to the SWaP footprint of current propulsion systems. This, in turn, is hampering the growth of the energy storage market for drones.
Competitive Analysis
The energy storage market for unmanned aerial vehicles (UAVs) is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The energy storage market for unmanned aerial vehicles (UAVs) forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The competitive scenario provided in the energy storage market for unmanned aerial vehicles (UAVs) report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Company Profiles
The energy storage market for UAVS report provides complete insights on key vendors including Ballard Power Systems Inc., Denchi Group Ltd., Doosan Corp., EaglePicher Technologies LLC, H3 Dynamics Holdings Pte. Ltd., Highpower International Inc., Hylium Industries Inc., Intelligent Energy Ltd., Kokam Co. Ltd., Lumenier, MicroMultiCopter Aviation, Shenzhen Grepow （格瑞普）Battery Co. Ltd., Sion Power Corp., TotalEnergies SE, Vcanz Co. Ltd., Veken Technology Co. Ltd., and TDK Corp. Some of the companies are launching products and solutions to meet the evolving business requirements. For instance, Ballard Power Systems Inc. offers energy storage for unmanned aerial vehicles namely, BFD H2 multi-rotor UAV, powered by FCair 600 and FCair 1200 liquid-cooled fuel cell power systems, with built-in hybrid battery control and charging, and delivering 600 and 1200 watts of power, respectively. In addition, Denchi Group Ltd. offers energy storage for unmanned aerial vehicles namely, Sparrowhawk, which is designed for the need for lightweight and high-power storage devices.
Revenue Generating Segmentation Highlights
By Product, the market is classified into Battery and Fuel Cell. The battery segment held the largest energy storage market share for UAVs in 2021. The segment will continue to account for the highest share throughout the forecast period. The adoption rate of Li-ion batteries and LiPo batteries has increased due to the high demand for UAVs. Many small UAVs utilize high-density Li-ion or LiPo batteries for power. Such increasing demand for batteries will drive the energy storage for drones market during the forecast period.
Energy Storage Market For Unmanned Aerial Vehicles (UAVs) Scope
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