Global Aircraft Battery Market 2020 is poised to reach USD 807.34 billion by 2025, recording a CAGR of 6.8% (2019 to 2025).
The global aviation industry looks forward to growing the growth of durable and high-density aircraft batteries that fulfil the power needs of the aircraft battery pack. There is a significant change in the aviation industry towards MEA (more electric architecture) for better and renewable batteries, which in turn drives the development of the demand for aircraft batteries.
Due to the production of more electric aircraft for commercial aviation and an increase in demand for new aircraft, the global aircraft battery industry has reported strong growth over the past few years. In addition, the rising use of UAVs in commercial and civil applications is driving the market ‘s growth. Owing to decreased aircraft noise and pollution and lower operating and maintenance costs, the need for more electric aircraft has increased. At present, the growing interest of many suppliers of aircraft batteries in producing more electric aircraft, combined with the need to minimize emissions, has been pushing the industry.
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If demand for new aircraft grows, a wider involvement of regional firms in the construction of more electric aircraft is anticipated. More electric aircraft need high-capacity batteries, which are expected to fuel the growth of the global demand for aircraft batteries.
The eminent players of the Global Market are CELLA Energy (US), Saft Groupe SA (France), Concorde Battery Corporation (US), EAGLEPICHER (US), Enersys (US), KOKAM (South Korea), Marvel Aero International (US), Mid-Continent Instruments and Avionics (US), Teledyne Battery Products (US), GS Yuasa (Japan), and others.
The global aircraft battery market is segmented based on the aircraft type, end-user, application, power density, aircraft technology, and region.
The battery is categorized into the Lead acid battery, Nickel Cadmium battery, and Lithium-Ion battery. In the coming years, the move toward all-electric aircraft is expected to increase demand for lithium-ion batteries. Because of this, the use of the lithium-ion battery over the projected timeframe is expected to rise at the maximum rate as compared to other types.
The aircraft battery market is divided into civil aviation, UAV, and military aviation in terms of aircraft type. Private ships, private helicopters, military planes, and ultralight planes are categorized under civil aviation. Combat aircraft is categorized as military jets and military helicopters.
Based on the region, the Aircraft Battery Market is divided into North America, Europe, APAC, and RoW.
North America dominates the aircraft battery market. Due to prominent players such as Eaglepicher, Enersys, Marvel Aero International and Teledyne Battery Products, and high investments by them in the production of aircraft batteries, this trend is expected to continue during the forecast era.
Over the review period, the growing adoption of UAVs by military forces for tactical missions is projected to fuel the development of the European industry.
During the forecast period, the demand in this area is expected to display a strong CAGR. Growing demand for new aircraft and rising defence spending are projected to fuel market growth in countries such as India and China. Growing combat aircraft acquisition and a major rise in the country’s defence budget to boost its military capability are also anticipated to help the region ‘s development in the demand for aircraft batteries.
The rise in defence spending by countries such as Saudi Arabia, the UAE, and Israel is driving the Middle East & African region’s demand expansion.
There has been an increase in UAVs in Latin America for intelligence collection on drug trafficking and rebel movements, tracking deforestation and regulating illicit migration, which is expected to fuel business demand.
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