NEW YORK, Dec. 11, 2023 /PRNewswire/ -- The fuel cells for military unmanned aerial vehicle (UAV) market is expected to grow by USD 232.91 million from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 9.82% during the forecast period, according to Technavio. The rising need for extended flight time is notably driving the fuel cells for the military unmanned aerial vehicle (UAV) market. However, factors such as high initial costs of fuel cell systems may impede market growth. The market is segmented by product (hydrogen fuel cell, proton exchange membrane fuel cell, and solid oxide fuel cell), type (tactical UAV, mini UAV, micro UAV, medium altitude long endurance (MALE) UAV, and high altitude long endurance (HALE) UAV), and geography (North America, APAC, Europe, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the fuel cells for military unmanned aerial vehicle (UAV) market including AeroVironment Inc., Aviation Turkey, Ballard Power Systems Inc., Barnard Microsystems Ltd., Cobham Ltd., Doosan Corp., Elbit Systems Ltd., General Dynamics Corp., H3 Dynamics Holdings Pte. Ltd., Honeywell International Inc., Intelligent Energy Ltd., Israel Aerospace Industries Ltd., ISS Aerospace, MMC, Northrop Grumman Corp., Plug Power Inc., Textron Inc., The Boeing Co., TW Horizon Fuel Cell Technologies, and ZeroAvia Inc. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a Free Sample Report.
Fuel Cells For Military Unmanned Aerial Vehicle (UAV) Market 2024-2028: Company Analysis
AeroVironment Inc: The company offers fuel cells for military unmanned aerial vehicles such as hybridized proton exchange membrane fuel cell, which employs a lithium ion battery to provide peak power during takeoff and dash maneuvers.
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Fuel Cells For Military Unmanned Aerial Vehicle (UAV) Market 2024-2028: Segmentation
Product
- The market growth by the hydrogen fuel cell segment is significant during the forecast period. The main advantage of this segment is that it provides longer flight endurance compared to traditional batteries or internal combustion engines. Hence, such factors are fuelling the growth of this segment, which in turn drives the market growth.
Geography
North America accounts for 33% of the market growth during the forecast period. Some of the main factors that are fuelling the market growth in North America include the growing need for security and surveillance, the demand for UAVs with improved endurance capability, and the presence of military-grade remotely piloted aircraft in the region. Hence, such factors drives the marekt growth in North America.
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Fuel Cells For Military Unmanned Aerial Vehicle (UAV) Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.82% |
Market Growth 2024-2028 |
USD 232.91 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
8.6 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, Japan, and the UK |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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