Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Aircraft Battery Market size was valued at USD 787.28 million in 2024 and is expected to reach USD 1.82 billion by 2037, registering around 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of aircraft battery is assessed at USD 832.12 million.
Moreover, in the year 2020, the aircraft battery market attained a revenue of USD 539.2 Million. The growth of the market can be attributed to growing demand for aircrafts, backed by the rising urbanization, and for the transitional shift towards electric aircrafts worldwide. According to the statistics by the World Bank, urban population as a share of global population increased from 43.029% in the year 1990 to 56.15% in the year 2020. On the other hand, according to the statistics by the General Aviation Manufacturers Association, the total number of aviation airplane shipments globally increased from 1132 units in the year 1994 to 2399 units in the year 2020. Batteries are a vital part of any modern aircraft as it is used in various applications, such as cranking of engine, starting standby power unit, canopy opening, and others. Over the last decade, the growth in passenger air travel has witnessed a massive growth, and is driving the need for advanced aircrafts. The surge in the adoption of aircrafts is therefore projected to drive the demand for aircraft batteries, and in turn drive the market growth. Moreover, growing adoption of commercial and recreational drones worldwide, along with the increasing effectiveness of aircraft batteries are also expected to create numerous opportunities for aircraft battery market growth.
Aircraft Battery Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Aircraft Shipments Worldwide
- Growing Adoption of Unmanned Aerial Vehicles (UAVs)
Challenges
- Operational Challenges with Batteries
Aircraft Battery Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.7% |
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Base Year Market Size (2024) |
USD 787.28 million |
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Forecast Year Market Size (2037) |
USD 1.82 billion |
|
Regional Scope |
|
Aircraft Battery Segmentation
Asia Pacific aircraft battery market is likely to hold largest revenue share of 37% by 2037, attributed to growing demand for air transport, which in turn is driving the need for aircrafts, and in turn the demand for aircraft batteries. In the other statistics by the World Bank, the number of passengers carried through air transport increased from 732006924 numbers in the year 2009 to 1.02 Billion in the year 2019. On the other hand, the market in the Asia Pacific is anticipated to grow with the highest growth rate during the forecast period. The market in the region is further segmented by country into India, China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is projected to garner the largest revenue by the end of 2037. 7
Our in-depth analysis of the global aircraft battery market includes the following segments:
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Battery Type |
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Application |
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Aircraft Type |
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Supplier |
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Aircraft Technology |
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Vishnu Nair
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Aircraft Battery Industry - Regional Synopsis
Asia Pacific industry is likely to hold largest revenue share of 37% by 2037, attributed to growing demand for air transport, which in turn is driving the need for aircrafts, and in turn the demand for aircraft batteries. In the other statistics by the World Bank, the number of passengers carried through air transport increased from 732006924 numbers in the year 2009 to 1.02 Billion in the year 2019. On the other hand, the market in the Asia Pacific is anticipated to grow with the highest CAGR during the forecast period, and further touch a revenue of USD 260.4 Million by the end of 2030. The market in the region is further segmented by country into India, China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is projected to garner the largest revenue of USD 119.9 Million by the end of 2030, up from USD 51.9 Million in the year 2020. Alternatively, the aircraft battery market in India is anticipated to grow with the highest CAGR during the forecast period.
Companies Dominating the Aircraft Battery Landscape
- Teledyne Technologies Incorporated
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Concorde Battery Corporation
- Kokam Co., Ltd.,
- EnerSys
- Sichuan Changhong Battery Co., Ltd.
Recent Developments
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June 24, 2021: Meggit PLC has announced a collaboration with Ansys, Inc. to create next-generation aircraft technologies for meeting stringent greenhouse gas reduction guidelines and for satisfying strict flight certification requirements.
Author Credits: Ipseeta Dash
- Report ID: 3518
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
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