According to a new report, published by KBV research, The Global Fuel Cell UAV Market size is expected to reach $3.8 billion by 2030, rising at a market growth of 13.1% CAGR during the forecast period.
The More Than 50 Kg segment is experiencing a CAGR of 13.9% during (2023 - 2030). UAVs in the more than 50 Kg segment typically have larger payload capacities than smaller drones. This characteristic renders them well-suited for the conveyance of heavier equipment, sensors, or payloads across various applications, including but not limited to surveillance, mapping, cargo delivery, and passenger transportation. Hence, these factors can lead to increased demand in the upcoming years.
The Hydrogen Fuel Cell segment is generating the maximum revenue in the Global Fuel Cell UAV Market by Product Type in 2022; thereby, achieving a market value of $1.9 billion by 2030. Hydrogen fuel cells offer several advantages over traditional power sources such as batteries or internal combustion engines. They provide higher energy density, longer flight durations, and faster refueling times, making them well-suited for applications requiring extended endurance and rapid turnaround times. Hence, these factors can boost the demand in the segment.
The Military & Defence segment is exhibiting a CAGR of 12.8% during (2023 - 2030). Fuel cell-powered UAVs produce less noise and have a lower thermal signature than traditional combustion engine UAVs. This makes them suitable for stealth operations where minimizing detection is critical. Fuel cell UAVs are in demand for military and defense activities. The growth of military and defense sector propels the demand for UAVs. As per the Government of Canada, the country’s defense industry contributed close to $9.2B in GDP to the Canadian economy in 2020. Therefore, these aspects will pose lucrative growth prospects for the segment.
The Rotary Wing segment is leading the Global Fuel Cell UAV Market by Type in 2022; thereby, achieving a market value of $2.3 billion by 2030. Rotary wing UAVs powered by fuel cell technology offer extended endurance and range compared to traditional battery-powered UAVs. Fuel cells provide a continuous and efficient power source, allowing rotary wing UAVs to operate for longer durations and cover greater distances without the need for frequent recharging or refueling. Hence, the segment will grow rapidly in the upcoming years.
The Cargo UAV segment is registering a CAGR of 13.6% during (2023 - 2030). The increased prevalence of e-commerce platforms and the proliferation of online purchasing have resulted in a heightened need for efficient and punctual delivery services. Cargo UAVs powered by fuel cell technology offer a viable solution for last-mile delivery, enabling faster, more cost-effective, and environmentally friendly transportation of parcels and goods to consumers' doorsteps. Hence, these aspects will boost the growth of the segment.
Full Report: https://www.kbvresearch.com/fuel-cell-uav-market/
The North America region dominated the Global Fuel Cell UAV Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.97 billion by 2030. The Europe region is poised to grow a CAGR of 12.8% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 14.4% during (2023 - 2030).
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