Aircraft Battery Market
Aircraft Battery Market is projected to reach USD 1099.59 Million by 2030, registering a CAGR of 7.53% between 2020-2030. The Aircraft Battery Market is driven by the necessity for aircraft in various industries and their development for optimum operation. The battery is critical to the aircraft's operation. The military sector's demand for modern aircraft, particularly for the air forces, is fueled by the rising use of aircraft in military operations. It will assist the market in propelling its business by providing military aircraft with high-quality characteristics, particularly strong battery life.
The demand for airplanes in the commercial and civic sectors for various reasons. The use of unmanned aerial vehicles (UAVs) for commercial, civic, and military objectives fuels the growth of the Aircraft Battery Market. UAVs are employed for investigation and monitoring in the military, and they can also be utilized for commercial transport.
The Aircraft Battery Market is showing its growth in various industries, including military, civil, and commercial. The government's large investments in the aviation sector to develop various aircraft products are creating enormous opportunities. Major market opportunities include increased adoption of fuel cells to reduce carbon emissions and the need for better battery management systems.
The Aircraft Battery Market will reach a value of USD 1099.59 Million by 2030 and a CAGR of 7.53 % between 2020-2030.
Market Segments
The Aircraft Battery Market is segmented into battery type, technology, aircraft type, and application.
The battery type segment is sub-divided into Lithium-Ion Battery, Lead Acid Battery, Nickel-Cadmium Battery, and others. The lead-acid battery captures the largest market share due to its better energy storage and power provision properties. The nickel-cadmium battery reached the highest CAGR in the forecast period due to its rise in demand.
The technology segment is categorized into traditional, electric, hybrid, and electric aircraft.
The aircraft type segment is classified into military aviation, commercial and civil aviation, and unmanned aerial vehicles. The civil aviation segment holds the highest growth rate due to the development of hybrid aircraft and more electric aircraft in this sector. Military Aviation will score a significant CAGR value in the forecast period. The UAVs will also register the highest growth rate because of the higher demand for UAVs for surveillance, reconnaissance, missile detection, border patrol, intelligence, and satellite communications.
The application segment is categorized into emergency, auxiliary power unit (APU) propulsion, and others.
Key Players
Following is the Aircraft Battery Market Players:
- Cella Energy (US)
- Concorde Battery Corporation (US)
- Eaglepicher (US)
- Enersys (US)
- GS Yuasa (Japan)
- Kokam (South Korea)
- Marvel Aero International (US)
- Mid-Continent Instruments and Avionics (US)
- Saft Groupe SA (France)
- Teledyne Battery Products (US)
Regional Analysis
The geographical status of the Aircraft Battery Market covers major regions such as Europe, Asia Pacific, North America, Middle East Africa, and Latin America. Among these, North America is the superior region due to key industrial players investing in the development of aircraft batteries. The higher adoption of UAVs in military missions and investigation purposes is driving the European region.
The Asia Pacific will obtain the highest CAGR due to its increased growth rate. The demand for new aircraft in civil and commercial applications along with investment in defense sectors in India and China are driving regional growth. The investment in defense by countries such as Saudi Arabia, UAE, and Israel in the Middle East African region is accelerating the regional market trends. In Latin America, the usage of UAVs for sting operations is flourishing the regional market growth.
Industry News
In May 2022, Amprius Technologies Inc. made a deal with a special-purpose acquisition company that values the maker of silicon-anode batteries at about USD 1.3 billion and would take it public, company officials said.
Aircraft Battery Market Research Report: By Battery Type (Lead Acid Battery, Lithium-Ion Battery, Nickel-Cadmium Battery, and others), Technology (Traditional Aircraft, More Electric Aircraft, Hybrid Aircraft, and Electric Aircraft), Aircraft Type (Commercial Aviation, Military Aviation and Unmanned Aerial Vehicles [UAV]), Application (Propulsion, Emergency, Auxiliary Power Unit (APU) and others) - Forecast till 2030
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