Aircraft Batteries market forecast 2023-2032 - major trends, lucrative segments and fastest growing regions

As per The Business Research Company's Aircraft Batteries Opportunities And Strategies Market Report 2023, The aircraft batteries market reached a value of nearly $650.2 million in 2022, having grown at a compound annual growth rate (CAGR) of 4.8% since 2017. The market is First National Battery pected to grow from $650.2 million in 2022 to $931.8 million in 2027 at a rate of 7.5%. The market is then expected to grow at a CAGR of 7.8% from 2027 and reach $1,358.9 million in 2032.

An increase in passenger air traffic is expected to propel the growth of the aircraft batteries market going forward. The growing airline passenger traffic is expected to generate higher demand for commercial airplanes, thus contributing to the demand for aircraft batteries. For instance, in July 2022, according to the International Air Transport Association, a Canada-based trade association of the world's airlines, total air traffic in May 2022 was up by 83.1%, compared to May 2021. Further, in April 2021, according to Boeing, a US-based corporation that develops, produces and markets missiles, satellites, rockets, rotorcraft, rocket boosters and telecommunications equipment, around 42,730 new jets, valued at $6.3 trillion, will be required over the next 20 years, to accommodate increasing passenger demand and impending jet retirements. Therefore, the increase in passenger air traffic is expected to drive the growth of the aircraft batteries market.

View Complete Report @
https://www.thebusinessresearchcompany.com/report/aircraft-batteries-market

Companies in the aircraft batteries market are focusing on innovative battery packs to strengthen their position in the market. There has been a significant innovation in batteries in recent years, in part to fuel the development of electric aircraft and vehicles. Major companies are investing in developing battery technology for implementation with existing systems. For instance, in 2022, NASA (National Aeronautics and Space Administration), a US government agency involved in aeronautics research and space research, developed an innovative battery pack that is lighter, safer and performs better than batteries commonly used in vehicles and large electronics. As part of its commitment to environmentally friendly aviation, NASA is researching the use of solid-state batteries in aviation applications such as advanced air mobility and electric-propelled aircraft. A vital component in the creation of more environmentally friendly electric aircraft is battery performance. A crucial necessity in aviation is that these batteries must effectively store the enormous amount of energy needed to power an aircraft while being lightweight.

Opportunities -The top opportunities in the aircraft batteries market segmented by battery type will arise in the nickel cadmium (NiCd) segment, which will gain $96.3 million of global annual sales by 2027. The top opportunities in segment by technology will arise in the traditional segment, which will gain $215.5 million of global annual sales by 2027. The top opportunities in segment by platform will arise in the fixed wing segment, which will gain $196.3 million of global annual sales by 2027. The aircraft batteries market size will gain the most in the USA at $94.6 million.
Aircraft Batteries Market Segmentation:
The Aircraft Batteries market is segmented

By Battery Type -
The aircraft batteries market is segmented by battery type into
a) NIMH (Nickel Metal Hydride)
b) Nickel Cadmium (Nicd)
c) Lithium - Ion
d) Other Battery Types

By Technology -
The aircraft batteries market is also segmented by technology into
a) Traditional
b) More Electric
c) Hybrid Electric
d) Fully Electric

By Platform -
The aircraft batteries market is also segmented by platform into
a) Fixed Wing
b) Rotary Wing
c) Unmanned Aerial Vehicles (UAVs)
d) Advanced Air Mobility

Major players in the Aircraft Batteries market include TotalEnergies SE, Eaglepicher, Teledyne Technologies Inc, HBL Power Systems Ltd, GS Yuasa

The regions covered in the global Aircraft Batteries market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report -
https://www.thebusinessresearchcompany.com/sample_request?id=8922&type=smp

The latest report from The Business Research Company, 'Global Aircraft Batteries Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Aircraft Batteries Market Report Table Of Content

1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
………………………………………………..
22. Company Profiles
23. Key Mergers and Acquisitions
24. Opportunities And Strategies
25. Aircraft Batteries Market, Conclusions And Recommendations
26. Appendix

PURCHASE the report @
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8922

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

This release was published on openPR.