The Global UAV Propellers Market was valued at US$ 409.9 Million in 2021 and is expected to surpass US$ 1268.7 Million by 2030, registering a CAGR of 13.6 % during the forecast period (2022-2030), according to the Global UAV Propellers Market, By Material Type (Wood Propellers, Carbon Fiber Propellers, Composite Propellers, and Others), By Industry (Government and Defense, Oil and Gas Industry, Mining, E-commerce, and Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), published by Coherent Market Insights.
The demand for UAV is significantly increasing, owing to its wide-range of applications in defense, oil & gas, and e-commerce industries. According to the Coherent Market Insights’ analysis, UAV market accounted for the US$ 18.3 Billion in 2019 and expected to exhibit a CAGR of 13.2% over the forecast period. This market growth is attributed to increasing demand for drones in the e-commerce industry. For instance, in November 2017, China-based e-commerce company, Alibaba, started delivery of products through drones. These drones have capacity to delivery 5Kg-45Kg (MTOW) packages to any remote location within stipulated period of time. Furthermore, the usage of drones for goods delivery in e-commerce industry will improve the efficiency and time-lines of delivery process.
Moreover, different organizations around the globe are organizing unmanned aerial vehicle racing events, and due to these events the awareness about the UAV is increasing. For instance, Drone Racing League organizes drone racing events every year around the globe for custom built drones. In April 2019, Drone Racing League organized DRL Allianz world Championship in Miami, U.S.
Key Developments
In July 2022 - McCauley Propeller Systems, an aircraft propeller manufacturer announced its new UAV propeller for General Atomics Aeronautical Systems, Inc. a remotely piloted aircraft system. This new UAV propeller has achieved Federal Aviation Administration (FAA) certification.
UAV Propellers Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has adversely affected the global UAV propellers market. Propellers are widely used to provide lift for the aircraft by spinning and creating an airflow as they have the capability to allow the vehicle to take off and land vertically and to hover. But due to the pandemic, a lack of raw materials caused supply chain and logistics disruption so manufacturers faced financial crises which directly impacted the sales of the UAV propellers. Hence, the global UAV propellers market witnessed slow growth during the pandemic.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/uav-propellers-market-3811
Browse 150 market data tables* and 90 figures* on “UAV Propellers Market- Global Forecast to 2030”
Key Trends and Analysis of the Global UAV Propellers Market:
- North America held the dominant position in the global UAV propellers market in 2019, and is expected to retain its dominance throughout the forecast period. This is owing to increasing popularity of UAV due to drone racing events. For instance, in December 2019, Lockheed Martin Corporation hosted an Artificial Intelligence Robotic Racing (AIRR) Circuit race for UAV in Austin, Texas.
- Asia Pacific is expected to witness significant growth over the forecast period. This is owing to increasing demand for UAVs in the region for application in the defense sector. For instance, in October 2018 China's Chengdu Aircraft Industrial Group sold 48 military drones to Pakistan Aeronautical Complex Kamra, a defense contractor in Pakistan.
- Europe, Middle East, and Africa are also expected to witness significant growth during the forecast period, owing to increasing demand for UAV by governments in these regions. For instance, in June 2019, Terra Drone Corporation signed an agreement to provide unmanned aerial vehicle (UAV) services to Ordnance Survey conducted by the National Mapping Agency of the UK.
- Among material type, composite propeller segment held dominant position in the market in 2019, and is expected to retain its dominance during the forecast period. The composite drones generates less noise and vibrations due to which they are widely used in the spy drones. Moreover Composite Propellers also have long life than the wood Propellers.
- Major players operating in the global UAV propellers market include Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and others
- Major players operating in the global UAV propellers market include Cato Manufacturing Ltd, Culver Props, Inc., Delta Electronics, Inc., Dowty Circuits Limited, Hartzell Propeller, Inc., McCauley Propeller Systems, Inc., Sensenich Propeller Service, Inc., and others
