The solar powered drones market has seen considerable growth due to a variety of factors.
• In the past few years, the market for solar powered drones has seen a brisk expansion. The market, valued at $2.17 billion in 2024, is projected to rise to $2.6 billion in 2025, representing a compound annual growth rate (CAGR) of 19.4%.
This substantial growth during the historic period has roots in mounting environmental awareness, a focus on sustainability, applications in military and defense sectors, a decrease in the price of solar panels and government policies that encourage the adoption of renewable energy. Further growth is also spurred by a broadening range of applications including agriculture, surveillance, and disaster management.
The solar powered drones market is expected to maintain its strong growth trajectory in upcoming years.
• The market for solar powered drones is set to experience swift expansion in the coming years, predicted to reach a value of $5.26 billion in 2029 with a compound annual growth rate (CAGR) of 19.3%.
Several factors attribute to this predicted growth, such as the increasing demand for long-lasting drones for a myriad of commercial uses, the establishment of supportive regulatory frameworks for deploying solar powered drones, emphasis on precision agriculture and crop monitoring, rise in infrastructure inspection and maintenance applications, and the proliferation of the telecommunications industry. Future trends to watch include the move towards hybrid solar-electric propulsion systems, the use of lighter materials for higher performance and payload capacity, incorporation of advanced sensors and imaging technologies for superior data collection, evolution of solar-powered drone-as-a-service (DaaS) business models, and growing usage of solar-powered drones for emergency response and disaster recovery.
An increase in military and defense investment is anticipated to fuel the expansion of the solar-powered drones market. Such investments relate to the allocation of financial resources by a country towards the maintenance and augmentation of their armed forces, encompassing the arming and provision for soldiers. Nations are stepping up their military investments to deter aggression from others, guard national security, and possibly prevent conflicts. Such escalating expenditures in defense and military sectors contribute to the growth and deployment of solar-powered drones for surveillance, reconnaissance, and tactical operations, thus amplifying their capabilities and fostering innovation. Consider the fact, for example, that in April 2024 SIPRI (Stockholm International Peace Research Institute), an independent research organization based in Sweden, reported that global military expenditure had increased by 6.8% from 2022, reaching $2443 billion in 2023. Hence, the rise in defense and military spending propels growth in the solar-powered drones market. Surging demand for sustainable and environmentally-friendly solutions is set to stimulate progress in the solar-powered drones market. These solutions aim to lessen the environmental damage by conserving resources, curtailing waste, and fostering ecological equilibrium. Growing levels of environmental consciousness, regulatory pressure, and consumer inclination towards greener products are driving the adoption of sustainable, environmentally-friendly solutions. As an example, in July 2023, the International Energy Agency (IEA), an autonomous intergovernmental body based in France, noted that in 2022, power production from solar PV systems spiked by 26% from 2021, hitting a record 270 TWh. Precisely after wind and hydropower, solar PV remains the third largest renewable electricity-producing technology, contributing 4.5% of the total global electricity. Consequently, the escalating demand for environmentally-friendly and sustainable solutions fuels the growth of the solar-powered drones market.
The solar powered drones market covered in this report is segmented –
1) By Type: Vertical Take-Off And Landing (VTOL), Fixed Wing, Rotary Wing, Hybrid
2) By Component: Payload, Motors, Energy Systems, Frames, Controller And Navigation
3) By Services: Data Analysis, Data Collection, Drone Leasing
4) By Application: Agriculture, Energy, Military, Telecommunication, Research And Exploration, Surveillance, Disaster Management
5) By End-User: Commercial, Government, Non-Profit
Subsegments:
1) By Vertical Take-Off And Landing (VTOL): Multirotor VTOL Drones, Single Rotor VTOL Drones
2) By Fixed Wing: Conventional Fixed Wing Drones, Solar-Powered Fixed Wing Drones
3) By Rotary Wing: Traditional Rotary Wing Drones, Solar-Enhanced Rotary Wing Drones
4) By Hybrid: VTOL-Fixed Wing Hybrids, VTOL-Rotary Wing Hybrids
Leading firms in the solar-powered drones market are strategizing to enhance their position by focusing on the development of innovative solutions such as solar-powered stratospheric aircraft. These unmanned aerial vehicles (UAVs), powered primarily by solar energy, are intended to operate in the stratosphere, allowing for extended flights ideal for high-altitude data gathering and surveillance. To illustrate, in April 2023, New Zealand tech firm, Kea Aerospace, launched the Kea Atmos Mk 1, marking the first solar-powered drone or stratospheric aircraft created in the Southern Hemisphere. With a wingspan reaching 12.5 meters, a weight of under 40 kilograms, and the ability to ascend up to 50,000 feet, its long-lasting flight capacity and high-altitude data collection ability is set to revolutionize the solar-powered drones market, especially in applications that necessitate prolonged, high-altitude data collection.
Major companies operating in the solar powered drones market are:
• Google LLC (Titan Aerospace LLC)
• Meta Platforms Inc. (Ascenta)
• DHL International GmbH (Deutsche Post DHL Group)
• FedEx Corporation
• The Boeing Company
• Lockheed Martin Corporation
• Intel Corporation
• Airbus SE
• International Business Machines Corporation (IBM)
• Thales Group
• Bechtel Group Inc. (Bechtel Corporation)
• Balfour Beatty plc
• easyJet plc
• QinetiQ Group plc (The Carlyle Group)
• SunPower Corporation
• AeroVironment Inc.
• SZ DJI Technology Co. Ltd.
• SunCulture Solar Inc.
• Alta Devices Inc.
• Bye Aerospace Inc.
• Sunlight Photonics Inc.
• Silent Falcon UAS Technologies
• Sunbirds SAS
• Xsun
• UAV Instruments
• Barnard Microsystems Limited
• Elektra Solar GmbH
North America was the largest region in the solar powered drones market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar powered drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.