Solar Powered Drones Market on Path to Hit $5.19 Billion by 2029 at 19% CAGR

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Solar Powered Drones Market Outlook: What Size And CAGR Are Anticipated By 2025?
In the past few years, the market size of solar-powered drones has experienced a quick acceleration. The market, which stands at $2.17 billion in 2024, is expected to balloon to $2.58 billion in 2025, marking a compound annual growth rate (CAGR) of 18.8%. This significant growth during the historic period can be traced back to heightened awareness of environmental issues, a focus on sustainability, military and defence uses, a decline in the price of solar panels, and government initiatives and policies that encourage the use of renewable energy. Additionally, the broadening of uses to include fields like agriculture, surveillance, and disaster management has played a part.

What Is the Expected CAGR for the Solar Powered Drones Market Growth Through 2029?
The market size of solar-powered drones is projected to experience a considerable surge in the foroming years, growing to $5.19 billion in 2029 at a CAGR of 19.0%. The growth during the forecast period is anticipated to be due to the escalating demand for drones with extended endurance for various commercial utilizations, the implementation of new regulatory structures that favor the deployment of solar-powered drones, amplified concentration on precision farming and crop surveillance, the increase in infrastructure examination and upkeep applications, and the growth of the telecommunications sector. Other key trends expected during this period include the transition to hybrid solar-electric propulsion systems, the inclination towards the use of lightweight materials for superior performance and payload capability, the incorporation of sophisticated sensors and imaging technologies to augment data gathering, the development of business models revolving around solar-powered drone-as-a-service (DaaS), and the emergence of solar-powered drones in emergency management and disaster recovery situations.

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What Are the Primary Drivers Behind Solar Powered Drones Market Growth?
The increase in military and defense spending is anticipated to stimulate the growth of the market for solar-powered drones. This term refers to the allocation of financial resources by a nation for the establishment and upkeep of its military forces, incorporating the procurement of armaments, equipment, and troops. Nations are enhancing their military budgets to deter assaults from other nations, safeguard national security, and possibly avert wars. This escalating defense and military expenditure aids in the creation and usage of solar-powered drones for observation, surveillance, and strategic operations, enhancing their competences and innovation. For instance, based on data from the Stockholm International Peace Research Institute (SIPRI) - a Sweden-based independent international research organization, in April 2024, the total worldwide military expenditure reached $2443 billion in 2023, marking a rise of 6.8% from 2022. As a result, the growth of the solar-powered drone market is being fueled by increased spending on defense and the military.

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What Are the Key Segments Driving Solar Powered Drones Market Growth?
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

What Are the Technological Trends Impacting the Solar Powered Drones Market?
In the solar-powered drones market, top-tier companies are shifting their attention towards the creation of cutting-edge solutions such as solar-powered stratospheric aircraft, in a bid to outshine their competitors. This Unmanned Aerial Vehicle (UAV) is designed to soar in the stratosphere, powered mainly by solar energy. Its innovative design allows it to perform long-endurance flights and collect high-altitude data, serving various monitoring purposes. For instance, Kea Aerospace, an enterprise from New Zealand with its roots in technology launched the Kea Atmos Mk 1, the Southern Hemisphere's first-ever solar-powered drone or stratospheric aircraft in April 2023. With its 12.5-meter wingspan, weight below 40 kilograms, and the ability to reach up to 50,000 feet in altitude, the aircraft marks a significant advancement in the solar-powered drones market. It is especially suited for applications that demand prolonged, high-altitude data collection, making it a game-changer in its category.

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Who Are the Major Competitors in the Global Solar Powered Drones Market?
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

Which Region Dominates the Solar Powered Drones Market Share in 2025?
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.

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