Drone Battery Market 2024: Size, Demand, Trends, Leading Companies, Growth Drivers, and Forecast Through 2033

The drone battery market size has grown exponentially in recent years. It will grow from $4.99 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to growth in agricultural sector, regulatory support, rise in defense budgets, rise in recreational activities, economic growth.

The drone battery market size is expected to see exponential growth in the next few years. It will grow to $13.34 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The growth in the forecast period can be attributed to rising military and defense sector, increasing r&d investments, rise in e-commerce, rising need for surveillance, rise in disposable income. Major trends in the forecast period include rapid advancements in battery chemistry, battery safety and fire mitigation, swappable battery systems, wireless charging technologies, ai battery management.

Market Overview -
A drone battery refers to the power system of a drone that allows the drone to fly high and runs the drone's onboard systems.

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Growing Adoption Of Drones In Commercial And Defense Applications Fuels Drone Battery Market Growth
The increase in the adoption of drones for commercial and defense applications is expected to propel the growth of the drone batteries market going forward. The adoption of drones for commercial and defense applications is required to detect threats, identify risk-prone areas of remote locations, conduct reconnaissance missions, track illegal activities, and to control crime. For instance, according to Goldman Sachs, a US-based Investment banking company, the drone sector is expected to reach $100 billion by 2022. Therefore, the increasing adoption of drones for commercial and defense applications drives the growth of the drone battery market.

Competitive Landscape -
Major companies operating in the drone battery market include Amper*ex Technology Limited, Skydio Inc., Yuneec International Co. Ltd., SolidEnergy Systems Corporation, Genspow GmbH, H3 Dynamics Holdings Pte Ltd, Plug Power Inc., Epsilor Electric Fuel Ltd., Shenzhen Grepow Battery Co Ltd., EaglePicher Technologies LLC, RRC power solutions GmbH, Proflight Zambia Limited, Amicell-Amit Industries Limited, UVify Inc., Zhejiang Gens Ace Technology Co. Ltd., Intelligent Energy Holdings plc, Ballard Power Systems Inc., Cella Energy Limited, Denchi Power Ltd., Kokam Co. Ltd., OXIS Energy Ltd., Sion Power Corporation, Tadiran Batteries GmbH, Autel Robotics USA LLC, Parrot SA, Venom Group International, SZ DJI Technology Co. Ltd., Doosan Mobility Innovation Inc., HES Energy Systems Ltd., Envision AESC Group Limited

Axon Partners With Skydio To Provide Autonomous Drones For Law Enforcement And Emergency Services
Strategic partnerships have emerged as the key trend gaining popularity in the drone batteries market. Major companies operating in the drone batteries sector are focused on partnerships to meet consumer demand and strengthen their position. For instance, in March 2021, Axon, a US-based provider of electronic control devices, partnered with Skydio, a US-based drone manufacturer. Through this partnership, Skydio's autonomous drones will be available to law enforcement and emergency services through Axon's unmanned aircraft program, Axon Air. Neuron Energy Launches LIPO HV Battery for High-Performance Drone Applications

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Key Segments -
The drone battery market covered in this report is segmented -
1) By Component: Cell, BMS, Enclosure, Connector
2) By Battery: Fuel Cell, Lithium-Ion, Lithium-Polymer, Nickel Cadmium
3) By Drone Type: Medium Altitude Long Endurance (MALE), High Altitude Long Endurance (HALE), Tactical, Small
4) By Function: Special Purpose Drones, Passenger Drones, Inspection And Monitoring Drones, Surveying And Mapping Drones, Agriculture Drones, Cargo Air Vehicles, Other Functions
5) By End-User: Commercial, Military, Government and Law Enforcement, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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