Drone Battery Market size is anticipated to surpass USD 17 Billion by the end of 2033, growing at a CAGR of 20% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of drone battery was over USD 8 Billion. The primary growth factor of the drone battery market is increasing demand from commercial consumers and increased application in security, filmmaking, and agricultural mapping, among others. Additionally, a growing number of startups are specializing in supplying drones with batteries for improved flight time and greater aerial accuracy. For instance, in 2022, the drone segment was projected to drop to approximately USD 3.5 billion.
Global drone battery market trends such as the rising utilization of drones for traffic monitoring, search and rescue, videography, and surveillance are projected to influence the growth of the market positively over the forecast period. It is observed that about 1.5 million people lose their lives on account of road traffic crash every year. Moreover, the higher utilization of lithium-based batteries is further expected to hike the growth of the market over the forecast period. For instance, in 2018, the total production of lithium-ion batteries reached around 300 gigawatt-hours. Lithium-based batteries are the most common type of batteries to be installed in drones since they provide high energy density compared to their size. Hence, such factors are estimated to propel the growth of the market during the forecast period.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
20% |
|
Base Year Market Size (2022) |
USD 8 Billion |
|
Forecast Year Market Size (2033) |
USD 17 Billion |
|
Regional Scope |
|
Type (Fixed-Wing, Rotary-Wing, Fixed-Wing VTOL)
The global drone battery market is segmented and analyzed for demand and supply by type into fixed-wing, rotary-wing, and fixed-wing VTOL. Out of these, the fixed-wing VTOL segment is projected to witness noteworthy growth over the forecast period owing to their increased use in aerospace and civil aviation applications such as aerial photography and mapping, crop monitoring, Wildlife Surveillance & Control (WSC), and firefighting. As of 2022, about 0.08 million drones were registered solely in the USA.
Our in-depth analysis of the global drone battery market includes the following segments:
|
By Drone Type |
|
|
By Technology |
|
|
By Type |
|
|
By Component |
|
North America Market Forecast
The North America drone battery market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market is primarily attributed to the rising awareness of drones and the significant development of defense technologies in the region. As of 2022, the drone segment in the USA was projected to generate revenue of approximately USD 1 billion. Moreover, the higher utilization of drones in the agricultural sector of the region is further anticipated to hike the growth of the drone battery market during the forecast period.
H3 Dynamics LLC to get certified in Japan for its dynamics-powered hydrogen drone. This hydrogen drone is installed with H3 Dynamics’ AEROSTAK hydrogen fuel cell and has been officially been approved by the Japanese Minister of Economy, Trade and Industry (MITI).
Yuneec Holding Ltd. to announce its collaboration with ATL Americas and FoxFury Lighting Solutions. With this collaboration, Yuneec becomes able to take benefit of the powerful light systems of Foxfury to install in its flagship H520, H520E, and H520E-RTK for night missions.
Author Credits: Abhishek Verma, Hetal Singh
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?