Drone Battery Market Size & Share, by Drone Type {Medium Altitude Long Endurance (MALE), High Altitude Long Endurance (HALE), Small, Tactical}; Technology (Fuel Cell, Lithium-Based, Nickel-Based); Type (Fixed-Wing, Rotary-Wing, Fixed-Wing VTOL); Component (BMS, Cell, Connector, Enclosure) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 3027
  • Published Date: Feb 10, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

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.


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Drone Battery Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Drones in Defense Sector - For instance, as of august 2020, 5 drones were approved by the unit of the U.S. Department of Defense Organization, Defense Innovation Unit for military and federal application. Defensive forces manage the defense system by continuously assessing and tracking the enemy's activity, which potentially results in military fatalities. To study enemy movement, drones (UAVs) are utilized as a key alternative. Drones are made so that they often quickly recognize regions that are vulnerable to terrorism-related problems. Therefore, such a higher requirement is anticipated to hike the growth of the drone battery market over the forecast period.
  • Rising Prevalence of UAVs across the Globe - In 2020, the project commercial drone sector was anticipated to generate a revenue of around USD 2.5 billion while the total spending on commercial UAVs is estimated to reach around USD 3 billion.
  • Ongoing Advancement in Smart Battery Technology - For instance, the total cost of the battery pack is projected to reach approximately 55 USD/kWh by the year 2030.
  • Increasing Requirements for Surveillance - As of 2020, approximately 31,000 drones were projected to be flying solely in the United States skies.

Challenges

  • Requirement for Higher Initial Investment - The requirement for higher initial investment is estimated to challenge the market growth. As per recent data, 1.1 billion dollars being invested in drone businesses in 2020. The market for commercial drones is anticipated to reach a value of $43.1 billion by 2024.
  • Lack of Awareness of the Drones
  • Constant Need for Expensive Maintenance

Drone Battery Market: Key Insights

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

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Drone Battery Segmentation

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

  • Medium Altitude Long Endurance (MALE)
  • High Altitude Long Endurance (HALE)
  • Small
  • Tactical

        By Technology

  • Fuel Cell
  • Lithium-Based
  • Nickel-Based

         By Type

  • Fixed-Wing
  • Rotary-Wing
  • Fixed-Wing VTOL

 

         By Component

  • BMS
  • Cell
  • Connector
  • Enclosure

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Drone Battery Industry - Regional Synopsis

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.

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Companies Dominating the Drone Battery Landscape

top-features-companies
    • Oxis Energy Ltd
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Amperex Technology Limited
    • Ballard Power Systems Inc.
    • Yuneec Holding Ltd. 
    • Parrot Drone SAS.
    • H3 Dynamics LLC
    • Skydio. Inc.
    • Genspow GmbH
    • Autel Robotics Co., Ltd. 
    • Plug Power Inc

In-the-news

In The News

  • 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


  • Report ID: 3027
  • Published Date: Feb 10, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing demand for drones in the defense sector and the rising prevalence of UAVs across the globe are estimated to majorly boost the market growth.

The market is anticipated to attain a CAGR of 20% over the forecast period, i.e., 2023-2033.

The requirement for higher initial investment and constant need for expensive maintenance is estimated to challenge the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Amperex Technology Limited, Ballard Power Systems Inc., Yuneec Holding Ltd., Parrot Drone SAS., H3 Dynamics LLC, Skydio. Inc., Genspow GmbH, Autel Robotics Co., Ltd., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by drone type, technology, type, component, and by region.

The fixed-wing segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Drone Battery Market Report Scope
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