Technavio has monitored the fuel cells for the military unmanned aerial vehicle (UAV) market in its latest market research report. The market will grow by USD 176.37 million and accelerate at a CAGR of almost 10% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the fuel cells for the military unmanned aerial vehicle (UAV) market.
Frequently Asked Questions:
- Based on segmentation by type, which is the leading segment in the market?
The tactical UAV is the leading segment in the market. - What is the major trend in the market?
The adoption of fuel cells to decrease dependency on imported oil is the major trend in the market. - At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of almost 10%. - Who are the top players in the market?
AeroVironment Inc., Barnard Microsystems Ltd., Elbit Systems Ltd., Honeywell International Inc., Horizon Fuel Cell Technologies Pte. Ltd., Israel Aerospace Industries Ltd., ISS Aerospace, MicroMultiCopter Aviation, Plug Power Inc., Ultra Electronics Holdings Plc are the top players in the market. - What are the key market drivers and challenges?
The market is driven by the high investment in the military unmanned aircraft domain. However, the decline in prices of non-renewable resources will challenge market growth. - How big is the North American market?
37% of the market’s growth will originate from North America during the forecast period.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. AeroVironment Inc., Barnard Microsystems Ltd., Elbit Systems Ltd., Honeywell International Inc., Horizon Fuel Cell Technologies Pte. Ltd., Israel Aerospace Industries Ltd., ISS Aerospace, MicroMultiCopter Aviation, Plug Power Inc., and Ultra Electronics Holdings Plc are some of the major market participants.
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Although the high investment in the military unmanned aircraft domain will offer immense growth opportunities, the decline in prices of non-renewable resources is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this fuel cells for military unmanned aerial vehicle (UAV) market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Fuel Cells for Military Unmanned Aerial Vehicle (UAV) Market to Grow by USD 176.37 Million During 2021-2025|Technavio, Apr 15, 2021
