Global UAV Propulsion System Market to Grow at a (CAGR) of 11.8% during the Forecast Period 2022-2030

Sep-2022 | Semiconductor

As specified in the market business insights exclusive report, the global UAV Propulsion System Market is projected to reach USD 34,258.31 million by 2030.

Growth Drivers:

Market dynamics are the forces that influence the prices and behavior of global UAV propulsion systems market stakeholders. These forces create pricing signals that result from changes in the supply and demand curves for a given product or service. The forces of market dynamics can be related to macroeconomic and microeconomic factors.

Increasing demand for UAV propulsion systems market across the globe. The extensive research and development carried out by various major key players in the global market create various growth opportunities during the forecast period.

UAVs have rapidly evolved into capable platforms deployed for a wide variety of applications. The ability to fight effectively in urban areas against widely dispersed forces, while minimizing collateral damage and gaining information superiority, enables UAVs to play a greater role in critical missions. Although the UAV propulsion market share in the global market is increasing significantly, some factors restrict its growth. The presence of a high probability of failure in Thermal Propulsion Systems restricts the growth of the market globally.

However, the UAV Propulsion Systems market is expected to recover from this global pandemic by the end of the third quarter of the coming year by making appropriate strategies as per the market requirements.

Which region holds the largest share?

North America holds the lion's share of the UAV propulsion system market. A number of modernization programs are underway to enhance the current capabilities of the commercial and military end-users in the region.

Development of the Market:

In January 2019: Sky Power GmbH launched a two-stroke engine SP-210 FI TS, an engine for unmanned aerial vehicles (UAVs). It is expected to rotate at a speed of 5,000 rpm, that is, around 480 gr/HP/hour.

Some of the key players in the UAV propulsion system market are:

United Technologies Corporation (US), UAV Turbines, Inc. (US), UAV Propulsion Tech (US), UAV Engine Ltd. (US), Sky Power GmbH (Germany), Safran SA (France), Rotron Power Ltd. (UK), Orbital Corporation (US), LaunchPoint Technologies Inc. (US), Hirth Engines GmbH (Germany), GE Aviation (US), Ballard Power Systems Inc. (US), Austro Engine GmbH (Germany), 3W International GmbH (Germany) and among others.

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