According to the latest report published by Variant Market Research,the global aircraft battery market size is projected to reach $916 million by 2025. In this report, Aircraft Batterymarket forecast says that the global market is growing at a CAGR of 8.6% from 2017 to 2025. On the basis of geographical analysis, Asia-Pacific is anticipated to attain the fastest CAGR during the forecast period. The main battery in the aircraft is used in refueling the plane as well as it provides backup power to the aircraft in case of emergency power failure. Growth in demand of unmanned aerial vehicle (UAV) is likely to boost the growth of the aircraft battery market during the forecast period.
Aircraft Battery Market (By Offering: Product and Service; By Application: Auxiliary Power Unit (APU), Propulsion, Emergency, and Other Applications; By Aircraft Technology: Hybrid Aircraft, Traditional Aircraft, More Electric Aircraft, and Electric Aircraft; By Power Density: More Than 300 Wh/Kg and Less Than 300 Wh/Kg; By Aircraft Type: Civil Aviation, Military Aviation, and Unmanned Aerial Vehicle (UAV); By End User: OEM And Aftermarket; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Rising adoption of UAVs in civil & commercial applications fuels the global aircraft battery market
The global aircraft battery market trend includes increase in number of aircraft deliveries, rising adoption of UAVs in civil & commercial applications, as well as growing execution of more electric aircraft technology in commercial aircraft. However, huge initial cost of battery might act as a barrier for the global aircraft battery market growth. Also, acceptance of fuel cells to decrease carbon emissions and requirement of better battery management systems is expected to provide several opportunities for the market in the coming years.
Offering, application, aircraft technology, power density, aircraft type, end user, and geography are the classification of the global aircraft battery market. The offering segment is categorized into product (battery and battery management system) and service (maintenance & overhaul and other services). Auxiliary power unit (APU), propulsion, emergency, and other applications are the segregation of application segment. Aircraft technology segment is sub-segmented into hybrid aircraft, traditional aircraft, more electric aircraft, and electric aircraft. On the basis of power density, the segmentation includes more than 300 Wh/Kg and less than 300 Wh/Kg. By aircraft type, the market is separated as civil aviation (business jets, commercial aircraft, ultralight aircraft, and commercial helicopters), military aviation (military helicopters and military jets), and unmanned aerial vehicle (UAV). Furthermore, end user comprises OEM (by component (product and service)) and aftermarket (by component (product and service)).
On the basis of geography, global aircraft battery market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Product, by offering expected towitness the highest growth over the forecast period
On the basis of offering, product segment is expected to witness the highest growth over the forecast period. All the battery types as well as battery management systems used in aircraft are included in the product segment. The requirement for better and more number of batteries is increasing as the aircraft architecture is inclining more towards electrical systems, which is further driving the product segment of the aircraft battery market.
OEM, by end user is projected to dominate the market over the forecasted period
OEM, by end user is projected to dominate the market over the forecasted period. In the aviation manufacturing, aircrafts are manufactured with installed aircraft battery technology in the aircraft & delivered to airlines. OEMs are accountable for the fixing of battery components. This is likely to drive the growth of the OEM segment of the global aircraft battery market.
North America, projected to dominate the aircraft battery market throughout the forecast period
North America is projected to dominate the aircraft battery market throughout the forecast period. The growth of the region is contributed to the technological improvements in aircraft architecture, fast growth in aircraft manufacturing, and growing electric aircraft industry. Owing to this, the aircraft battery market is projected to grow in the region.
Key players are offering innovative products and services to increase their aircraft battery market share. Main players competing in the market include EaglePicher Technologies, Concorde Battery Corporation, EnerSys, Saft, Gill Batteries, Sichuan Changhong Battery Co., Ltd., Cella Energy, Marvel Aero International, Inc., GS Yuasa Corporation, and Kokam, among others.