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Drone fuel cells are electrochemical devices that transform chemical energy from fuels and oxidizers into useable electrical energy that can be used to power electronics and vehicles without the use of combustion. The cell does not need to be charged, but it does require a constant supply of fuel and oxidizer.Unmanned aerial vehicles (UAVs) are one of the most cutting-edge systems in the aviation sector, with uses in military, civilian, and commercial settings. With technological improvements, the appeal of environmentally friendly propulsion technologies such as fuel cells and solar cells has grown in the UAV market. Unmanned aerial vehicles (UAVs) are one of aviation's most cutting-edge technology, with applications in military, civilian, and commercial settings. The popularity of environmentally friendly propulsion technologies such as fuel cells and solar cells has developed in the UAV market as a result of technological advancements. UAVs have recently become one of the most important weapons in the military's arsenal. At the same time, the number of civic and commercial UAV applications is increasing.
Increasing use of high-altitude, long-endurance (HALE) and medium-altitude, long-endurance (MALE) UAVs for military surveillance applications is expected to drive market growth over the forecast period. According to Dan Gettinger's drone databook 2019, 17 countries have armed unmanned aerial vehicles, and over 100 countries have military UAV programmes. Increase demand for drones in commercial applications such as transportation, offshore oil and gas plant inspection, medical, and photography between 2021 and 2028 to raise the market size.
Key Market Driver -
• Rising adoption of Drone (UAV) for military and commercial application to boost growth.
Key Market Restraint -
• Stringent design standards for Drone component to restrict the market growth
By application, the market is divided into commercial and Civil & Military. Among these, the commercial application segment dominated the market in the base year owing to a large demand for commercial Drones. On the other hand, the military defense segment displays significant growth during the forecast period due to increasing government spending to strengthen defense capabilities. Based on Type, the market is segmented into MALE, HALE, Mini UAV, Micro UAV, and, Tactical UAV. By Industrial Vertical, the market is divided into Defense & Security, Agriculture, Construction & Mining, Wildlife & Forestry, Media & Entertainment, and, Logistics & Transportation. Based on Product, the market is segmented into Hydrogen Fuel Cells, Solid Oxide Fuel Cell, and, Proton Exchange Membrane Fuel Cell. Based on Region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The major companies included in the global Drone Fuel Cell market report are Energy OR Technologies (Canada), General Atomics (The U.S.), Horizon Fuel Cell Technologies (China), Textron Inc. (The U.S.), MicroMultiCopter Aero Technology (China), Honeywell International, Inc. (the U.S.), Elbit Systems Ltd.(Israel), Northrop Grumman Corporation (the U.S.), Barnard Microsystems Ltd.(The U.K.), Ultra Electronics (The U.K.), Boeing (The U.S.), and among others.
The Drone Fuel Cell market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America registered a large market share in the base year.The U.S. Department of Defense (DoD) spending a large amount on procurement of advanced, innovative solutions for defense applications. Besides, the rising demand for UAVs in commercial and military applications is expected to boost the demand.
The market in Europe registered the second-largest share in the base year owing to the increased focus on strengthening defense capabilities by the governments of Germany, France, and the U.K.
Asia Pacific witness strong growth in the market during the forecast period. This growth is attributing to the growing demand for advanced military equipment by China and India. Furthermore, the shifting trend towards the adoption of Drones for military surveillance and commercial application is expected to drive the market growth in Asia Pacific.
Growing focus on adoption of UAVs across the world is expected to expand the market size in Latin America and the Middle East & Africa respectively during an estimated period.
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