Aerospace Energy Storage Market 2023: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2032
The Business Research Company's Aerospace Energy Storage Global Market Report 2023 identifies increasing demand for aircraft electrification as the major driver for the Aerospace Energy Storage market's growth in the forecast period. Aircraft electrification refers to the process of replacing or supplementing traditional combustion engines with electric systems like motors and batteries. Aerospace energy storage plays a crucial role in aircraft electrification by providing efficient and reliable power for various electrical systems.
The global aerospace energy storage market size is expected to grow from $1.54 billion in 2022 to $1.73 billion in 2023 at a compound annual growth rate (CAGR) of 12.03%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of aerospace energy storage market is expected to reach $2.64 billion in 2027 at a CAGR of 11.15%.
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Major competitors in the Aerospace Energy Storage market are Tesla Inc, GE Energy, Raytheon Technologies, The Boeing Company, Lockheed Martin, BYD Co. Ltd, Northrop Grumman, Honeywell Aerospace, Jabil Energy Storage, Siemens Energy AG, NextEra Energy Resources, Eaton Corporation plc, Rolls-Royce PLC, Parker Hannifin, Sichuan Changhong Battery Co. Ltd., GreenSmith Energy Management Systems, Sungrow Power Supply Co. Ltd, Samsung SDI, Fluence Energy Inc., Saft Batteries, LG Energy Solution Ltd, Meggitt PLC, Invenergy LLC, Enphase Energy, A123 Systems LLC, Eagle-Picher Technologies LLC, ComEd, Electric Power Systems Inc, NEC Energy Solutions, EAS Batteries GmbH, Kokam Co. Ltd, Xtreme Power, Custom Cells, EEnovate Technology, nanoFlowcell Holdings plc, Cuberg Inc., Gnanomat S.L., Electroflight Ltd., and Nsure Reliable Power Solutions
A key trend in the Aerospace Energy Storage market includes Product innovation. Companies operating in the aerospace energy storage market are focused on the development of modular and scalable energy storage solutions for aircraft electrification to sustain their position in the market.
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The Aerospace Energy Storage market is segmented -
1) By Type: Lead Acid Battery, Lithium Battery, Other Types
2) By Technology: Pumped Hydro, Compressed Air, Batteries, Flywheels, Fuel Cells, Other Technology
3) By Application: Aircraft, Spacecraft
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Aerospace Energy Storage market.
The Business Research Company's "Global Aerospace Energy Storage Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Aerospace Energy Storage Market Include:
1. Executive Summary
2. Aerospace Energy Storage Market Characteristics
3. Aerospace Energy Storage Market Trends And Strategies
4. Aerospace Energy Storage Market - Macro Economic Scenario
5. Aerospace Energy Storage Market Size And Growth
32. Global Aerospace Energy Storage Market Competitive Benchmarking
33. Global Aerospace Energy Storage Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aerospace Energy Storage Market
35. Aerospace Energy Storage Market Future Outlook and Potential Analysis
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