The global small and tactical UAV fuel cell market is expected to grow by USD 182.71 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 14%.
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Technavio has announced its latest market research report titled Global Small and Tactical UAV Fuel Cell Market 2020-2024 (Graphic: Business Wire)
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The small and tactical UAV fuel cell market is driven by the development of new generation engines for UAVs. In addition, the use of AI for autonomous UAVs is anticipated to boost the growth of the small and tactical UAV fuel cell market.
Vendors in the market have long been focusing on the development of alternative propulsion technologies for UAVs. This trend among UAV manufacturers has significantly reduced the dependence of UAVs on fossil fuels. Recently, hydrogen fuel cells have emerged as viable alternatives to fossil fuels. They offer improved reliability, safety, and low maintenance compared to internal combustion engines. Also, UAVs powered by fuel cells operate longer than battery-powered counterparts and have better power to weight ratios. Further advancements in terms of design and functionalities are expected to result in the development of new and more efficient UAV engines during the forecast period. All these factors are positively influencing the growth of the global small and tactical UAV fuel cell market.
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Major Five Small and Tactical UAV Fuel Cell Companies:
AeroVironment Inc. operates its business through a unified segment. The company offers UAV fuel cells for small and tactical UAVs.
Ballard Power Systems Inc.
Ballard Power Systems Inc. operates its business through the Fuel cell products and services segment. The company offers small and tactical UAV fuel cells under the brand, Ballard FCair.
Doosan Corp. operates its business through segments such as Electro-Materials BG, Mottrol BG, Industrial Vehicle BG, Doosan Digital Innovation BG, Others, DHC, DI, DEC, and DE. The company offers fuel cell powerpacks for small and tactical UAVs.
Elbit Systems Ltd.
Elbit Systems Ltd. operates its business through a unified Reportable Segment. The company offers UAV fuel cells for small and tactical UAVs.
H3 Dynamics Holdings Pte. Ltd.
H3 Dynamics Holdings Pte. Ltd. operates its business through a unified segment. The company offers small and tactical UAV fuel cells under the brand, AEROSTAK .
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Small and Tactical UAV Fuel Cell Market Application Outlook (Revenue, USD Million, 2020-2024)
- Commercial and civil
Small and Tactical UAV Fuel Cell Market Geography Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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