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Market Snapshot: Algal Production Systems & Aquaculture

Algae encompass a diverse group of organisms, including both macroalgae, such as kelp and nori, and microalgae, like spirulina and chlorella. Over 50,000 species of algae have been identified world-wide. All types of algae possess chlorophyll and play a crucial role in aquatic ecosystems, serving as the primary source of energy for aquatic organisms. The U.S. government has exhibited an interest in using algae for both nutrition/animal feed applications and for biofuels/bioproducts. In its most recent solicitation, the U.S. Department of Agriculture (USDA) sought novel or innovative approaches for algal production systems to improve quality, development, and harvesting of algal biomass for use in aquaculture feed and human food. The main cultivation systems widely used for algae cultivation are open ponds, attached growth systems, and closed photobioreactors (PBRs). 

The aquaculture industry has demonstrated a growing interest in cultivating microalgae because of its rapid growth and high lipids content. Algae products like lipids (omega-3, omega-6, and omega-9), carotenoids, carrageenan, agar, algal protein, algal flour, and alginate can be extracted from algae to serve various end-use applications. Applications in the algae products market include food & beverages, nutraceuticals & dietary supplements, animal feed, pharmaceuticals, personal care products, and other applications.

The algae-based animal feed market is one part of the algae products market. The algae-based animal feed market is expected to grow to $6.6 billion by 2034 from the 2024 valuation of $4.5 billion, exhibiting a CAGR of 3.9%. This market includes microalgae and macroalgae for both animal feed and aquaculture feed products. The use of algae in animal and fish feed is becoming increasingly popular. By type and source, aquaculture and microalgae hold the dominant share of the market respectively. Over half of the fish on the market are raised in fish farms, where fish feed constitutes around 90% of the cost. Most of the fish feed currently used is derived from either wild fish or terrestrial agricultural products. Both sources present problems in sourcing. Microalgae biomass, on the other hand, has the potential to support sustainable aquaculture and a circular economy as an environmentally-friendly feed ingredient. However, the high cost of microalgae  production remains a barrier to aquaculture.

While algal biomass cultivation has significant market potential, especially as seen for fish feed, the USDA is searching for improved production systems. The main cultivation systems—open ponds, attached growth systems[1], and photobioreactors (PBRs)—have their own shortcomings and challenges. General barriers for mass cultivation include financial challenges (the cost of water and nutrients) the limitations on recycling, biomass loss due to biocontamination and pond crashes, as well as the energy costs associated with harvesting. While open ponds have lower capital costs, they yield lower overall production rates. A major challenge of open ponds is the sensitivity to pollutants. Thus, only a few species can be cultivated in these ponds for biomass production on a commercial scale. Another concern is the problem of evaporation in open systems, which require water replacement to maintain the optimum balance of suspended salts and water.

Enclosed photobioreactors offer several advantages over open systems, which include larger surface-to-volume ratio, reduced risk of contamination, smaller area requirements, and the ability to prevent evaporation. Vertical-column and tubular photobioreactors designs are the most used. However, photobioreactors are more costly: the construction and maintenance are ten times higher than open ponds. While photobioreactors can maintain higher biomass density, the significant cost difference makes photobioreactors uncompetitive for industrial-scale production of microalgae biomass. As a result, closed system photobioreactors are mainly used for higher value products. The development of new technologies, such as closed-loop photobioreactors and precision fermentation, are improving the cost effectiveness of algae biomass production. Such advances seek to address the concerns related to high production costs, but microalgae harvesting remains a challenge for commercial-scale biomass production.

Improved algal production systems would benefit various markets and industries beyond aquaculture, including biofuels/bioproducts, pharmaceuticals, and wastewater treatment. The U.S. Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) has an Advanced Algal Systems program, which supports research and development (R&D) to lower the costs of producing algal biofuels and bioproducts. The Algae Biomass Organization (ABO) explains how algae-based systems have the opportunity to provide a sustainable solution to wastewater treatment, identifying Iowa-based Gross-Wen Technologies’ patented solution Revolving Algal Biofilm (RAB) treatment system, which utilizes an algae biofilm to treat wastewater.

[1] Open ponds and photobioreactors are the two systems predominantly used for algae growth related to animal and fish feed. Attached growth systems relate to algal biomass production for biofuel and wastewater treatment.

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Market Snapshot: Coal-Based Carbon Fiber

Acceleration of coal technology – including production of coal-based carbon fiber – is an area of interest under the current presidential administration. This is signaled by President Trump’s Executive Order “Reinvigorating America’s Beautiful Clean Coal Industry” (April 2025), which highlights coal-based carbon fiber as a research and development area alongside other high-performance, high-value coal-to-carbon products like coal-derived graphite. It is also implied by the energy and water development appropriations bill passed by the House in early September 2025, which proposes $688 million for DOE’s Office of Fossil Energy and Carbon Management (FECM) or Office of Fossil Energy (FE). Alongside critical minerals and materials technology, coal and carbon utilization is a focus for FE under its Minerals Sustainability program.

The global carbon fiber market is expected to grow at a CAGR of 7.2% over the next five years, from $4.82 billion USD in 2025 to $6.82 billion in 2030, according to MarketsandMarkets. Widespread adoption of carbon fiber in the aerospace, defense, and wind energy industries continues to drive growth, as does increasing demand for lightweight, high-strength materials in the automotive, sporting goods, and construction industries. Most carbon fiber – about 90-95% – is made from polyacrylonitrile (PAN), a synthetic organic polymer resin also widely used to make acrylic fabrics. Pitch-based carbon fiber, made from petroleum or coal tar, accounts for about 4-5% of the overall carbon fiber market by value in 2025, . Coal tar pitch is obtained by distilling coal tar, a byproduct of coal coking, primarily carried out in steelmaking.

While today’s market for pitch-based carbon fibers (CFs) is relatively small, pitch-based CFs are attractive because they can offer higher rigidity and electrical and thermal conductivity than PAN-based CFs. They also offer higher carbon yield using cheaper precursors, so they have the potential to be cheaper, although PAN-based CF’s more mature manufacturing techniques can mean it is cheaper to produce at scale. Compared to petroleum pitch-based CF, coal-based CF is generally lower in tensile strength but also has a lower precursor cost, higher carbon yield, higher electrical and thermal conductivity, and is simpler to manufacture. Challenges remain, however, before coal-based CF can be produced cost-competitively at scale. Natural impurities in coal greatly affect the attributes of the resulting CF, and manufacturing improvements are needed to address variability in the source coal and pitch composition and determine processing control requirements. (For more information, see DOE publications on coal-based CF on OSTI.gov.)

Given the abundance and relatively low cost of coal in the U.S., Giraud-Carrier and Barlow (2022) point out that coal tar pitch is a carbon fiber precursor candidate that could reduce reliance on foreign suppliers while helping coal-producing communities continue to cope with the decline in domestic consumption of coal as fuel. Carbon fiber can even be produced from waste coal, left over from ongoing and legacy coal processing. The University of Kentucky Center for Applied Energy Research (CAER) announced the development of such a method in 2023 under the $10 million C4WARD: Coal Conversion for Carbon Fibers and Composites project, in collaboration with DOE FE and the Oak Ridge National Laboratory and its Carbon Fiber Technology Facility.

Top global manufacturers of carbon fiber in general include Hexcel Corp. (U.S.), Mitsubishi Chemical Group Corp. (Japan), Teijin Ltd. (Japan), Toray Industries Inc. (Japan), and Zhongfu Shenying Carbon Fiber Co. Ltd. (China). For coal tar pitch-based carbon fiber specifically, there are a handful of key, vertically integrated players, including Mitsubishi Chemical Group Corp. (Japan), Nippon Graphite Fiber Corp. (Japan) – an affiliate of Nippon Steel Chemical & Material (Japan), and Osaka Gas Chemical Co. Ltd. (Japan). Mitsubishi Chemical’s DIALEAD, Nippon Graphite’s GRANOC, and Osaka Gas Chemical’s DONACARBO are coal tar pitch-based carbon fibers used for aerospace, sports, and industrial applications, among others.

To learn more about innovations in coal-based carbon fiber and other coal-to-carbon technologies, consider checking out the American Carbon Society’s Carbon 2026 Conference, to be held July 12-17, 2026 in Charleston, SC.

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Market Snapshot: In-Space Manufacturing

In-space manufacturing (ISM) encompasses the production and assembly of goods in space, beyond the earth’s atmosphere, to create products such  as artificial retinas, tissues, structures and parts, advanced materials, semiconductors and many others. As space exploration ventures further from Earth, the logistical challenges and associated costs associated with resupply missions and repairs become increasingly cost prohibitive. By reducing reliance on Earth-based supply chains, ISM could enhance the flexibility of future space missions. In this article, we provide a snapshot of the  status ISM and identify funding opportunities that small businesses can consider as they pursue research and development (R&D) funding for technology development.

Valued by MarketsandMarkets at $4.6 billion in 2030, the in-space manufacturing market is expected to expand exponentially to $62.8 billion by 2040, with a compound annual growth rate (CAGR) of 29.7%. A McKinsey analysis suggests that  R&D and manufacturing is approaching reality. The anticipated growth can be attributed to factors such as technological advancements in enabling technologies like 3D printers and bio-printers, space robotics for assembly and automation, and the miniaturization of hardware. Additionally, the growing demands of the space industry, heightened interest in space-based R&D manufacturing, and availability of funding for in space manufacturing contribute to this projected growth.

Factories in Space has compiled a list of over 200 companies engaged in this market, spanning emerging startups to well-established aerospace and defense entities. According to MarketsandMarkets, the key players in this sector include Airbus SAS, Northrop Grumman Corporation, Blue Origin LLC, Sierra Space Corp., Redwire Corporation, Axiom Space, Inc., Astroscale Holdings, Inc., Astrobotic Technology, Inc., Orbit Fab, Inc., Astra Space, Inc., Le Global Graphene Group, Inc., Virgin Galactic Holdings, Inc., Momentus Space, Inc., and others. Other notable small companies include  Varda Space Industries Inc., LambdaVision, CisLunar Industries, Auxilium Biotechnologies, Space Forge, Inc., Dcubed, Lunar Resources, Inc. and Faraday Technology, Astral Materials, and many others.

Advanced technology firms often require funding to advance the maturation of their technology. Funding opportunities are available in the form of non-dilutive funding sources from the federal government and various states. NASA’s In-Space Production Applications program (InSPA) is an applied research and development program sponsored by NASA and the International Space Station National Lab aimed at demonstrating space-based manufacturing and production activities by using the unique space environment to develop, test, or mature products and processes that could have an economic impact. On an annual and ongoing basis, NASA releases two calls for white papers from U.S. entities through Special Focus Area #1 (In Space Production Applications) of the NASA Research Announcement NNJ13ZBG001N, “Research Opportunities for International Space Station Utilization.” Companies with the highest-rated white papers are subsequently invited to submit a comprehensive proposal. Other programs such as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR), administered by 11 federal agencies can help de-risk early-stage in space manufacturing ventures. Through competitive awards, the SBIR and STTR enable small businesses to explore their technological and commercialization potential. To be eligible for the SBIR/STTR program, a company must be a United States-based, for-profit, small business with 500 or fewer employees, at least 51% U.S.-owned and controlled. Additionally,  States also offer financial assistance to small companies in the form of grants, loans, and investments, as well as networking opportunities.

Upcoming events for networking in 2026, include the following conferences:

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Market Snapshot: Small Modular Reactors

Small modular reactors (SMRs) are an integral part of the Department of Energy’s goal to “develop safe, clean, and affordable nuclear power options.” SMRs are nuclear fission reactors with a power capacity of up to 300 MW(e) per unit, approximately one-third of the generating capacity of traditional nuclear power reactors. Modular designs allow components to be assembled in a factory and add more modules as required. SMRs can be deployed for various applications like power generation, process heat, desalination or other industrial applications. SMRs could also help with the demanding energy needs of data centers. The various types of SMRs include heavy water and light water reactors, high-temperature reactors, fast neutron reactors, and molten salt reactors.

SMRs are an emerging market with numerous designs currently under development. In a July 2025 report, the Nuclear Energy Agency (NEA) identified 127 global SMR technologies (74 with publicly accessible information, 25 under development but which requested not to be included, and 28 not under active development). Of the 74 SMR designs under development, 30 designs are being pursued by 25 design organizations headquartered in North America. NEA also cited additional benefits of SMRs including using significantly less water than large reactors and a lower requirement for critical minerals.

The World Nuclear Association states there are two SMRs currently operational: Russia’s KLT-40S pressurized water reactor (PWR) and China’s high-temperature gas-cooled modular pebble bed (HTR-PM) reactor demonstrator. The KLT-40S began commercial operation in May 2020. It is owned and operated by Joint Stock Company ‘Concern Rosenergoatom.’ China’s HTR-PM began commercial operation in December 2023. It is owned by China Huaneng Group and operated by Huaneng Shandong Shidao Bay Nuclear Power Company, Ltd.

In 2020, the U.S. Nuclear Regulatory Commission (NRC) approved the first SMR design in the U.S., which was submitted by NuScale Power (NYSE: SMR) based in Corvallis, OR. In May 2025, NRC approved NuScale Power’s uprated power module–the company’s second SMR design. Other U.S. SMR companies that are publicly traded include BWX Technologies (NYSE: BWXT) in Lynchburg, Virginia and Oklo Inc. (NYSE: OKLO) from Santa Clara, California. Some of the major SMR developers in North America expected to commercialize SMRs in the near future are NuScale Power, LLC. (U.S.), GE Hitachi Nuclear Energy (U.S.), Moltex Energy (Canada), and Terrestrial Energy Inc. (U.S. & Canada), according to MarketsandMarkets.

Upcoming events of interest include MiNES 2025 and SMR, AMS Winter 2025, and Advanced Reactor 2026. Materials in Nuclear Energy Systems 2025 (MiNES 2025) in Cleveland, Ohio December 7-11, 2025. Conference organizers are affiliated with several national labs, universities, and industry leaders. The 2025 ANS Winter Conference & Expo will be held in Washington, DC November 9-12, 2025. This event includes executive sessions to unpack the latest executive orders and attended by senior officials from the administration and Congress. The SMR & Advanced Reactor 2026  will be held in Austin, Texas in May 2026. This senior-level meeting for the SMR community will bring together over 750 leaders from utilities, financiers, reactor developers, technology providers and regulators.

If you found this helpful and would like more information, please contact Lyn Barnett.

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For all other questions and more information, please contact Lyn Barnett by emailing lbarnett@dawnbreaker.com

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Market Snapshot: Solid Oxide Fuel Cell Market

U.S. and global electricity demand are both expected to increase 50% or more by 2050. To meet anticipated demand, cleaner, more efficient, reliable, and affordable energy generation and storage solutions are needed. Solid oxide fuel cell (SOFC) technology is a promising, efficient, low-emissions means of generating electricity from a range of fuels, including hydrogen, natural gas, biogas, and syngas. A recent U.S. House of Representatives Energy & Water Development Appropriations subcommittee report (July 2025) recommended up to $30 million to advance SOFC research and development.

SOFCs, which produce electricity by oxidizing gaseous fuels at high temperatures, are closely tied to solid oxide electrolysis cells (SOECs) and reversible solid oxide fuel cell (R-SOFC) systems. While SOFCs use hydrogen and oxygen to produce electricity along with heat and water, SOECs use electricity, water, and heat to produce hydrogen gas, along with oxygen. R-SOFC systems are single, hybrid devices that can do both. SOFCs are the leading fuel cell technology for stationary applications and are well-suited to serving as continuous power supplies.

According to MarketsandMarkets, the global solid oxide fuel cell (SOFC) market is expected to grow at a compound annual growth rate (CAGR) of 31.2%, expanding from $2.98 billion in 2025 to $11.61 billion in 2030. These figures account for planar and tubular-type SOFCs and for the fuel cell stacks as well as the balance of the plant.* In these projections, analysts segment the market into portable, stationary, and transport applications and identify residential, commercial and industrial, data center, and military and defense customers as the major end user groups. MarketsandMarkets projects that data centers will be the fastest-growing end user group through 2030.

The fuel-to-electricity efficiency, near-zero emissions, and fuel flexibility of SOFCs, as well as the integration of R-SOFC systems with renewable energy sources, are driving market growth. As a result, substantial market opportunities are emerging. These include data centers, drones, battery chargers, distributed generation, microgrids, chemical and fuel production, transportation, and more. The high temperatures at which SOFCs operate make them an attractive option for industries using combined heat and power (CHP) systems to improve efficiency. However, SOFC technology is not without competition from other low-emissions fuel cell technologies, including molten carbonate (MCFC) and polymer electrolyte membrane (PEMFC) fuel cells. Currently, SOFC market growth is challenged by the high cost of high-durability materials needed for high-temperature operation.

Top players in the global SOFC market include Bloom Energy (U.S.), Mitsubishi Heavy Industries (Japan), AISIN Corp. (Japan), and Kyocera Corp. (Japan). The global SOFC market is fairly consolidated, as those four companies account for about 70-80% of the entire market, according to MarketsandMarkets. Other notable SOFC companies include Ceres Power (UK), Convion (Finland), Cummins (U.S.), Doosan Fuel Cell (S. Korea), Elcogen (Estonia), FuelCell Energy (U.S.), Miura (Japan), Nexceris (U.S.), Sunfire (Germany), WATT Fuel Cell (U.S.), and Bosch (Germany), which pivoted away from the SOFC business in early 2025 in favor of hydrogen-generating electrolyzers.

The DOE Office of Fossil Energy and Carbon Management (FECM) supports the growth of the domestic market with its Solid Oxide Fuel Cell (SOFC) Program,  initiated in 2000 and led by the National Energy Technology Laboratory (NETL). NETL’s SOFC team, under the Hydrogen with Carbon Management Program, conducts R&D projects  on “technical issues facing the commercialization of R-SOFC technologies and pilot-scale testing… to validate the solutions.” This line of inquiry is designed to “enable the generation of efficient, low-cost electricity and hydrogen.” Areas of focus include cell degradation characterization and modeling, advanced electrode engineering, and systems engineering and analysis. (See sample publications on OSTI.gov.)

To learn more about innovations in SOFCs, SOECs, and R-SOFCs, consider checking out these upcoming events in 2026:

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Market Snapshot: Plastic Circularity

Written by: Jenny C. Servo,Ph.D. & Erin George, MLS

Who could have imagined that the search for a substitute for ivory used in billiard balls in the 19th century[1] would give rise to an industry whose impact today is already preserved in sedimentary layers of the earths’ fossil record[2]. Dubbed as the “plastics age”, research conducted by the Scripps Institution of Oceanography in the Santa Barbara basin off the California coast[3] has demonstrated that since the 1940’s microscopic sediments in the ocean have doubled about every 15 years. The more apparent, visible signs of the pervasive use of plastics today is seen in the “Great Pacific Garbage Patch” – regions of the Pacific ocean. as large as the state of Texas[4], filled with the stifling debris of plastic.

The impact on the environment which most consumers don’t see, could have a profound impact on the food chain. There is growing evidence that microplastics, pieces of plastic less than five millimeters in length, are entering the food chain. “Microplastic exposure to humans is caused by foods of both animal and plant origin, food additives, drinks[5], and plastic food packaging.”[6] There is also evidence that nanoplastics, smaller than 1 micrometer can enter human cells and cause DNA damage[7].

The “take-make-waste” model is no longer acceptable. Taking oil and gas from the earth, turning it into plastic and then throwing it away is having profound and negative impact.[8] Data on what happens to waste varies, but in general, 14% of plastic waste is collected for recycling, 14% is incinerated and/or used for energy recovery, 40% is landfilled and 32% leaks into the oceans.[9] The concept of the circular economy mirrors the sustaining processes in nature. “In a new plastics economy, plastic never becomes waste or pollution.[10]”

Although the concept of a circular economy has gained traction, there are over one hundred definitions of what that means[11]. However, when it comes to plastics, the definition used by plasticmakers.org is clear “Circularity means using plastics… more efficiently by keeping the material in use for as long as possible, getting the most we can from the material during its use, and then recovering it to make new products.[12]”

The market for plastic circularity is growing. According to the American Chemistry Council, it is important however to note that there are differences between durable and non-durable  plastics and the end-of-life  (EOL) methods each uses for recycling. Durable plastics that are meant to be in use for many years and are used in automotive, building and construction, electronics and medical industries. Non-durable plastics are those intended for single use and packaging. The global market for recycled plastics, according to MarketsandMarkets, was valued at $69.4 billion in 2023 and projected to reach $120 billion by 2030 at a growth rate of 8.1%.[13]

 The growing use of recycled plastics by major companies in the automotive, packaging, and electrical and electronics industries is a major driver of growth in the market, along with the policies and initiatives that are being implemented to promote the recycling of plastics and their reuse. Some of the key players in the U.S. market include MBA Polymers, Plastipak Holdings, Republic Services, and Stericycle.[14]

In a similar vein, MarketsandMarkets also reports on the global post-consumer recycled plastics market in 2024 was valued at $71.44 billion and projected to grow to $106.97 billion by 2029 at an 8.4% CAGR. The market is defined as those plastics that are recycled and collected from consumers such as bottles, films, and foams. Circular economy programs are promoting resource utilization and waste management which is a main driving factor in the growth of this market.[15]

[1] Arthur Neves, “First successful substitutes for ivory billiard balls were made with celluloid reinforced with ground cattle bone,” Phys.org, November 24, 2023

[2] Damian Carrington, “After bronze and iron, welcome to the plastics age, say scientists,” The Guardian, September 4, 2019

[3] Jennifer A. Brandon et al, “Multidecadal increase in plastic particles in coastal ocean sediments,” Science Advances, September 4, 2019

[4] National Geographic, “Great Pacific Garbage Patch” Accessed January 30, 2025

[5] Zia Sherrell, “Concerned about microplastics in tea bags? Here’s what researchers say you should know,” Yahoo/Life, January 30, 2025

[6] Abdullah al Momun et al, “Microplastics in human food chains: Food becoming a threat to human safety,” Elsevier, Volume 858, Part 1, February 2023

[7] Stephanie Duchen, “Microplastics everywhere,” Harvard Medicine, Spring 2023

[8] Ellen McArthur Foundation, “Plastics and the circular economy – deep dive,” September 15, 2019

[9] World Economic Forum, Ellen McArthur Foundation and McKinsey and Company, “The New Plastics Economy: Rethinking the future of plastics, “2016

[10] Ellen McArthur Foundation, “Plastics and the circular economy – deep dive,” September 15, 2019

[11] Julian Kircherr et al, “Conceptualizing the circular economy: An analysis of 114 definitions,” Resources, Conservation and Recycling,  Volume 127, December 2017

[12]  Plasticmakers.org, “ What is circularity?” Accessed January 31, 2025

[13] “Recycled Plastics Market,” MarketsandMarkets, April 2023

[14] “Recycled Plastics Market,” MarketsandMarkets, April 2023

[15] “Post-Consumer Recycled Plastics Market,” MarketsandMarkets, October 2024

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Market Snapshot: Precision Agriculture

Market Snapshot: Precision Agriculture

Agriculture, in its most general sense, is the science and art of cultivating plants and livestock, and is credited with shifting civilization from hunter gatherers to permanent settlements. Today, the agricultural landscape is increasingly complex as society looks for new, more efficient, and environmentally sound ways to address the water-food-energy nexus. The USDA reports that within agriculture, the greatest technology push has been in precision agriculture (also known as site-specific management or smart agriculture) where sensing, information technologies, and mechanical systems enable crop and livestock management.

Major factors contributing to the growth of the smart agriculture market include the increasing adoption of advanced technologies in various agriculture applications such as precision farming, smart green house, livestock monitoring, and fish farm monitoring. Changing weather patterns due to increasing global warming have impelled the adoption of advanced farming technologies to enhance farm productivity and crop yield. Farmers or growers across the globe are increasingly adopting advanced farming devices and equipment such as steering and guidance, sensors, yield monitors, display devices, and farm management software. MarketsandMarkets reports that the global precision farming market is forecast to grow from $9.7 billion in 2023 to $21.9 billion by 2031 growing at a CAGR of 10.7% from 2023 to 2031.

While there are many factors driving growth in this space, the high cost of technologies, and limited exposure among farmers who would utilize them is seen as restraining the market. Furthermore, smart agriculture requires high initial investment, efficient farming tools, and skilled and knowledgeable farmers or growers. The USDA notes that despite the push toward integrating smart or precision techniques, acceptance by the agricultural community has been hesitant and weak, although most producers admit they will have to adopt these technologies eventually. Specific and recent trends in this area are addressed in the 2023 paper from USDA titled, Precision Agriculture in the Digital Era: Recent Adoption on U.S. Farms.

Key players in the precision farming market include Deere & Company (John Deere) (U.S.), Trimble Inc. (U.S.), AGCO Corporation (U.S.), AgJunction LLC (U.S.), Raven Industries, Inc. (U.S.), AG Leader Technology (US), Teejet Technologies (U.S.), Topcon (U.S.), Taranis (Israel), AgEagle Aerial Systems Inc (U.S.), ec2ce (Spain), Descartes Labs, Inc. (U.S.), Granular Inc. (U.S.), Hexagon AB (Brazil), Climate LLC (U.S.), and CropX Inc. (Israel). The leading players in this market have leveraged merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.

The International Conference for On-Farm Precision Experimentation will be taking place in 2024 along with several other events happening in 2023 and 2024.

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Market Snapshot: Biomass & Biofuels

Biomass is unique in that it can be converted directly into liquid fuels, called biofuels to help meet transportation fuel needs. The two most common types of biofuels in use today are ethanol and biodiesel, these are also known as “drop-in” fuels, meaning they can serve as petroleum substitutes in existing refineries, tanks, pipelines, pumps, vehicles, and smaller engines.

While almost two-thirds of biofuel demand growth will occur in emerging economies, primarily India, Brazil and Indonesia biofuel demand is forecast to rise by 6% or 5,700 million liters between 2022 and 2024 in advanced economies with the majority of the increase happening in the United States and Europe. Biomass According to BCC Research, the global liquid biofuels market should reach $153.8 billion by 2024 from $136.2 billion in 2019 at a compound annual growth rate (CAGR) of 2.2% for the forecast period of 2019 to 2024. The following sections break this broader market down into the markets for ethanol and biodiesel.

Ethanol is an alcohol most commonly made by fermenting any biomass high in carbohydrates through a process similar to beer brewing, but it can also be produced by a process called gasification, which uses high temperatures and a low-oxygen environment to convert biomass into synthesis gas, a mixture of hydrogen and carbon monoxide. The resulting synthesis gas (syngas) can then be chemically converted into ethanol and other fuels. Typically, ethanol is used as a blending agent with gasoline to increase octane and cut down carbon monoxide and other smog-causing emissions. MarketsandMarkets reports that the global bioethanol market is projected to grow from $33.7 billion in 2020 to $64.8 billion by 2025, at a CAGR of 14.0%, from 2020 to 2025. Demand for bioethanol is driven by the mandatory use of bioethanol fuel blends in many countries to reduce greenhouse gas (GHG) emissions and increase the fuel efficiency of the vehicles.

In terms of the different fuel blends, the E10 segment is projected to be the largest market for bioethanol given that Europe countries and across other regions have mandated the use E10 fuel blends in vehicles to lower the GHGs emission rate. Additionally, a small percentage of bioethanol can be mixed with the pure gasoline to prepare bioethanol blends, which burn more efficiently and produce zero carbon emission.  As a result, the use of bioethanol fuel blends is mandated in many countries around the world. Based on these factors, transportation is projected to be the largest end-use segment of the bioethanol market in terms of value and volume.

Biodiesel, the other biofuel, is made by combining alcohol with vegetable oil, animal fat, or recycled cooking grease, and can be used as an additive to reduce vehicle emissions or in its pure form as a renewable alternative fuel for diesel engines. Although the pace of research interest had slowed, research into the production of liquid transportation fuels from microscopic algae, or microalgae, is on the upswing at NREL. MarketsandMarkets reports that the biorefinery market size is estimated to be $210.3 billion by 2027 up from $141.8 billion in 2022 growing at a CAGR of 8.2% during the forecast period.

Oil crops such as rapeseed, palm, or soybean are the largest source of biodiesel, which makes it a sustainable alternative compared to conventional diesel. Furthermore, biodiesel meets both the biomass-based diesel and overall advanced biofuel requirement of the Renewable Fuel Standard – it also meets specifications created by the American Society of Testing and Materials (ASTM) for legal diesel motor fuel (ASTM D975) and the definition for biodiesel itself (ASTM D6751). Pure biodiesel is referred as B100 (100% biodiesel) but is rarely used given that existing diesel engines may not be suitable for pure biodiesel. Therefore, just like with ethanol, blends are used that have a certain proportion of biodiesel mixed with fossil diesel. Most of the current diesel engines are capable of handling biodiesel blended fuels. – the most common blends currently in use are B5 (up to 5% biodiesel) and B20 (6% to 20% biodiesel).

In June 2023 the USDA announced plans to invest up to $500 million from the Inflation Reduction Act to increase the availability of domestic biofuels and give Americans additional cleaner fuel options at the pump. Also in June of 2023 the EPA announced a final rule to establish biofuel volume requirements and associated percentage standards for cellulosic biofuel, biomass-based diesel (BBD), advanced biofuel, and total renewable fuel for 2023–2025. DOE has also announced several sources of funding for biofuels in 2023.

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Market Snapshot: Wildfire Protection

From air quality alerts to the loss of natural habitats and homes, the threat and impact of wildfires has become increasingly concerning in many parts of the United States. Approximately 85% of wildfires in the United States are caused by humans, whether it is from unattended campfires, arson, or equipment malfunctions – these events are costly and dangerous. Since 2000 an annual average of 70,025 wildfires have burned an annual average of 7.0 million acres, which is more than double the average annual acreage burned in the 1990s.

In 2022, 52% of the nationwide acreage burned by wildfires was on federal lands for which the federal government is responsible. The U.S. Department of Agriculture Forest Service (FS) carries out wildfire management and response across the National Forest System (NFS), and the Department of the Interior (DOI) manages wildfire response for national parks, wildlife refuges and preserves, other public lands, and reservations. As of June 1, 2023, approximately 18,300 wildfires have impacted over 511,000 acres within the U.S. this year. 

To address the wildfire crisis the Forest Service launched a comprehensive 10-year strategy in January 2022 focused on the communities most likely to be immediately impacted. The strategy, called “Confronting the Wildfire Crisis: A Strategy for Protecting Communities and Improving Resilience in America’s Forests,” combines congressional funding with scientific research and planning to create a national effort designed to increase the scale and pace of forest health treatments over the next decade. The Forest Service plans to work with states, Tribes and other partners to addresses wildfire risks to critical infrastructure, protect communities, and make forests more resilient through this strategy.

While wildfires are not the only fire-related threat, Grandview Research reports that the global fire protection system market size was valued at $77.88 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030 – this market is not limited to wildfire, protection and includes myriad sources and systems. With a focus on wildfire prevention and management, the Institute for Defense & Government Advancement (IDGA) published a report covering spending and technology trends in this area. According to IDGA the wildfire prevention and management industry is pivoting from procurement to leasing of helicopters, aircraft and ground vehicles, to leasing with the Forest Service expected to spend $2.4 billion on leasing helicopters for wildfire purposes alone. Additionally, digital technologies such as artificial intelligence (AI), machine learning (ML), deep learning (DL) and robotics are playing a key role in the early detection of wildfires.

In March 2023 the U.S. Department of Agriculture’s Forest Service announced an investment of $197 million in 100 project proposals benefiting 22 states and seven tribes, as part of the Community Wildfire Defense Grant program, which is funded by the Bipartisan Infrastructure Law. Additionally, the Forest Service and other federal, tribal, state, and local partners  developed and are implementing a National Cohesive Wildland Fire Management Strategy that has three key components: Resilient Landscapes, Fire Adapted Communities, and Safe and Effective Wildfire Response. Other sources of potential funding for innovators includes the USDA Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) solicitations for qualified businesses.

To learn more about this area and more, several upcoming conferences and events may offer opportunities to interact with others working in this area, and discover more about the wildfire and wildland prevention space. The 2024 NFPA Conference & Expo® will be held in Orlando, Florida next June, and the International Association of Fire Chiefs is hosting several events in 2024.

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Market Snapshot: Hypersonic Weapons

Operating in extreme environments presents many technical challenges. When these environments include the demands of hypersonic flight in the upper atmosphere, the challenges are even greater. The Congressional Research Service reports that the U.S. Department of Defense (DoD) is pursuing two types of hypersonic weapons technologies: boost-glide systems that place a maneuverable glide vehicle atop a ballistic missile or rocket booster, and cruise missiles that would use high-speed, air-breathing engines to travel to hypersonic speeds.

A leading difference between missiles armed with hypersonic glide vehicles (HGVs) and missiles armed with ballistic reentry vehicles is their ability to maneuver and change course after they are released from their rocket boosters. Furthermore, hypersonic vehicles operating in the upper atmosphere are subject to extreme speeds, these may exceed Mach 5, which is five times the speed of sound. These vehicles may also experience temperatures of over 1,000 degrees Celsius, oxidation from the atmosphere and tremendous aerodynamic shear loads. In addition to materials and coatings able to withstand these extreme environments, these platforms will necessitate flight control systems that are able to make rapid adjustments in response to the surrounding and rapidly changing flight conditions.

Despite these challenges, analysts report that the hypersonic missile market is expected to be valued at $130.50 million by 2028 at a compound annual growth rate (CAGR) of 2% during the forecast period (2023-2028). Deloitte notes that in the United States, annual unclassified defense spending requests for hypersonic technology have grown at a 26% CAGR since 2014 and already total more than $2.6 billion. This annual domestic spending is expected to grow to $5 billion by 2025 while the international hypersonic market was predicted to grow at a CAGR of 7.23% between 2018 and 2022. Furthermore, the hypersonic market has received more than $328 million in venture capital investment since 2015.

The development of hypersonic platforms and enabling technologies is being carried out by groups including prime contractors, government and universities, and small businesses. The leading prime contractors appear to be Lockheed Martin and Raytheon. Raytheon’s Hypersonic Air-breathing Weapon Concept (HACM) leverages Northrop Grumman scramjet propulsion system with the team reportedly on schedule to deliver a system to the Air Force, which has said it plans for the missile to be operational by fiscal year 2027. Lockheed Martin is partnering with the U.S. Navy to integrate hypersonic strike capability onto surface ships with the Conventional Prompt Strike (CPS) weapon system that will be integrated onto ZUMWALT-class guided missile destroyers (DDGs). The CPS is a hypersonic boost-glide weapon system that enables long range missile flight at speeds greater than Mach 5, with high survivability. Additionally, the Missile Defense Agency (MDA) is developing systems to counter hypersonic missiles with its Glide Phase Interceptor, which is a missile designed to shoot down a hypersonic weapon in the middle (or glide phase) of its flight.

In terms of research and development activities for enabling capabilities, researchers at the Johns Hopkins Applied Physics Laboratory (APL) are developing coatings that can stand up to the extreme environments of hypersonic flight in the upper atmosphere. The University of Texas at San Antonio is working on Pressure-Sensitive Paint Measurements of a Hypersonic Vehicle in support of NASA’s ULI Full Airframe System Technology (FAST), and the University of Virginia is also working on advanced hypersonic materials. To learn more about research and innovation in hypersonics there are several conferences happening in 2023 and 2024 –  the 5th Annual Hypersonic Weapons Summit takes place in September and 3rd National Summit on Hypersonic Weapons Systems is happening in April 2024.