Research Nester published a report titled “Aircraft Battery Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global aircraft battery market in terms of market segmentation by battery type, application, aircraft type, supplier, aircraft technology, power density, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global aircraft battery market is anticipated to grow with a CAGR of 7.26% during the forecast period, i.e., 2021-2030. The market is segmented by battery type into nickel-based battery, lead acid battery, and lithium-ion battery, out of which, the lead acid battery segment is anticipated to garner the largest revenue of USD 597.6 Million by the end of 2030, up from USD 289.9 Million in the year 2020. The market is further segmented by power density, the market is segmented into less than 100 Wh/Kg, and more than 100 Wh/Kg. Amongst these segments, the more than 100 Wh/Kg segment is projected to grow with the highest CAGR of 8.53% during the forecast period.
The global aircraft battery market is estimated to garner a revenue of USD 1068.7 Million by the end of 2030, up from a revenue of USD 539.2 Million in the year 2020. Rising air passengers worldwide, which is contributing to the surge in adoption of aircrafts around the globe, is one of the major factors which is anticipated to drive the demand for aircraft batteries. Moreover, surge in the shipments of aircrafts is also expected to create numerous opportunities for market growth. The market is segmented by region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America region garnered the largest revenue of USD 194.3 Million in the year 2020, and is further expected to touch USD 394.3 Million by the end of 2030. One of the major factors projected to drive the market growth in the region is the surge in demand for air transport amongst the individuals, especially in the United States.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Airplane Shipments to Contribute to the Market Growth
The General Aviation Manufacturers Association, in one of its statistics, stated that aviation airplane shipments around the world touched 2399 units in the year 2020, up from 1132 units in the year 1994.
Backed by the rising demand for air travel around the globe, and for the increasing need for efficient aircrafts, the sales of different types of aircrafts have witnessed a massive surge in the recent years. The surge in the sales of aircrafts is expected to drive the demand for aircraft batteries, and in turn accelerate the market growth. Moreover, surge in sales of unmanned aerial vehicles (UAVs) and the increasing shift towards electric aircrafts, backed by the rising concerns for aviation emissions, are also anticipated to contribute to the growth of the market in the coming years.
However, the operational challenges that remain with batteries is expected to operate as key restraint to the growth of global aircraft battery market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global aircraft battery market which includes company profiling of Teledyne Technologies Incorporated, Concorde Battery Corporation, Kokam Co., Ltd., EnerSys, Sichuan Changhong Battery Co., Ltd., Mid-Continent Instrument Co., Inc., Saft, EaglePicher Technologies, HBL Power Systems Ltd., Meggit PLC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aircraft battery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.