Drones are UAVs (unmanned aerial vehicles), controlled by handheld remote or mobile devices. Drones are equipped with GPS so that the user can track the drone. They also come with sensors such a gyro meter and accelerometer, which are used to control and stabilize the drone during flight. Drones can be classified into three types based on end-users: personal, commercial, and military. Drones have evolved over the years in terms of design, flight time, range and tenure, and data processing. Modern-day drones can process high-resolution videos and images and other surveillance data in real time.
Technavio’s analysts forecast the global energy storage market for drones to grow at a CAGR of 11.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global energy storage market for drones for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio's report, Global Energy Storage Market for Drones 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Ballard Power Systems
Other prominent vendors
MicroMultiCopter Aero Technology
Shenzhen Herewin Technology
Vertical Partners West (Venom Group International)
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Technavio Announces the Publication of its Research Report – Global Energy Storage Market for Drones 2017-2021
Technavio recognizes the following companies as the key players in the global energy storage market for drones: Amperex Technology, Ballard Power Systems, DJI, Highpower International, and Kokam.
Other Prominent Vendors in the market are: Grepow, H3 Dynamics, Intelligent Energy, Lumenier, MicroMultiCopter Aero Technology, Shenzhen Herewin Technology, Vcanz, and Vertical Partners West (Venom Group International).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing strategic partnerships. A drone is a complex assortment of hardware, software, and mechanics meant to work together. Several drone companies specialize in one aspect alone, which require interdisciplinary expertise. The huge potential drones hold in commercial applications has led to the formation of strategic partnerships and investment by vendors and technology providers alike to develop more capable devices.”
According to the report, one driver in the market is growing commercial use. Applications of drones have expanded beyond the initial use in the military sector to commercial use in segments such as agriculture, construction, power and water utility, real estate, journalism, cinematography, transportation, and the energy sector, which includes the mining, oil and gas, and clean energy sectors. Drones are being used in these segments for monitoring, mapping, surveying, and maintenance activities to increase productivity with greater efficiency than conventional methods.
Further, the report states that one challenge in the market is uncertain market conditions limiting market growth potential. With the rapid rise in demand for consumer drones in the historical period, the number of unregistered, unmonitored, and untraceable drones has increased. The tracking of unregistered drones is difficult, which is a major concern for governments and the general masses. For instance, in 2015, an unregistered consumer drone crashed into the White House grounds. In 2016, British Airways' international passenger carrier was reported to have apparently hit a flying drone while landing at the Heathrow International Airport, London, UK. Since then, stringent rules have been drawn, which makes it illegal to fly drones near the UK airport, and those found violating the rules can face up to five years in prison.
Amperex Technology, Ballard Power Systems, DJI, Highpower International, Kokam, Grepow, H3 Dynamics, Intelligent Energy, Lumenier, MicroMultiCopter Aero Technology, Shenzhen Herewin Technology, Vcanz, and Vertical Partners West (Venom Group International).