Press release
Aircraft Batteries Market Size, Share, Growth Rate, Industry Report 2024 To 2033
Aircraft Batteries Market
Market Size And Growth Forecast:
The aircraft batteries market size has grown strongly in recent years. It will grow from $0.7 billion in 2023 to $0.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to the rise in air travel, increase in demand for hybrid and electric propulsion aircraft, increasing military spending and increasing emissions from aviation..
The aircraft batteries market size is expected to see strong growth in the next few years. It will grow to $1.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to passenger air traffic, growing demand for new fighter jets in developing countries and increasing focus on reducing emissions. Major trends in the forecast period include high voltage batteries, development of ultra-low maintenance batteries, focusing on technological advancements and developing new products, focusing on partnerships and collaborations and using lithium-ion batteries..
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Market Segmentation:
The aircraft batteries market covered in this report is segmented -
1) By Type: NIMH (Nickel Metal Hydride), Nickel Cadmium (Nicd), Lithium - Ion, Other Battery Types
2) By Technology: Traditional, More Electric, Hybrid Electric, Fully Electric
3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility
Major Driver - Air Travel Surge Fuels Expansion Of Aircraft Batteries Market
The rise in air travel across the globe propelled the growth of the aircraft batteries market going forward. The movement of passengers and cargo by any conveyance capable of sustained controlled flight is referred to as air travel. The growth in air passenger traffic contributes to the demand for aircraft batteries. For instance, in May 2022, according to a report published by the International Civil Aviation Organization, a Canada-based specialized agency of the United Nations, between January and April 2022, there were 65% more air travelers than in 2021, and there were 30% more aircraft departures. Therefore, the rise in air travel across the globe is driving the aircraft batteries market.
Competitive Landscape:
Major companies operating in the aircraft batteries market report are TotalEnergies SE, Eaglepicher, Teledyne Technologies Inc, HBL Power Systems Ltd, GS Yuasa,Enersys, Concorde Battery Corporation, Sion Power Corp, Mid-Continent Instruments and Avionics, Sichuan Changhong Battery Co. Ltd, High Energy Batteries Limited, Leoch International Technology Limited, Altech Batteries, China Aviation Lithium Battery Co. Ltd., Shenzhen Battery Building Industry Co. ltd., Shenzhen Resky Electronics Co. Ltd., Shenzhen Youliyuan Battery Technology Co. Ltd., Electroflight, Powervamp Ltd, Transair Flight Equipment, Custom Cells Itzehoe GmbH, Saft Company, Zavod AIT LLC, Wamtechnik Sp. z o.o, Industrias Tudor Sp De Bateriais Ltda, Acumuladores Moura S.A, Middle East Battery Company, Exide Industries Ltd, First National Battery, Monbat Batteries Plc, Öhlins, Fras-le S.A
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Top Trend - Rising Technological Innovations Driving Evolution In Aircraft Batteries Market
Technological advancements are a key trend gaining traction in the aircraft batteries market. Major companies operating in aircraft batteries are focusing on technological advancements and developing new products to strengthen their position in the market. For instance, in September 2022, Ampaire, a US-based hybrid-electric aircraft conversion firm, selected Electric Power (EP) Systems, a US-based provider of energy storage systems, to provide propulsion battery packs for the Eco Caravan aircraft. The nine-passenger Cessna Grand Caravan was upgraded to the hybrid-electric Eco Caravan. The Eco Caravan will incorporate the EPiC energy storage system from EP Systems. Embraer Ipanema, Boeing CAV, NASA X-57, Diamond eDA-40 and Aurora Flight Sciences Pegasus are just a few of the manned and unmanned aircraft that are currently powered by other battery systems from EP Systems
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aircraft Batteries Market Characteristics
3. Aircraft Batteries Market Trends And Strategies
4. Aircraft Batteries Market - Macro Economic Scenario
5. Aircraft Batteries Market Size And Growth
…..
27. Aircraft Batteries Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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