Press release
Aerospace Energy Storage Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Aerospace Energy Storage Market
The surge in the need for aircraft electrification is projected to boost the expansion of the aerospace energy storage market in the future. The term aircraft electrification refers to the substitution or enhancement of conventional combustion engines with electrical systems such as motors and batteries. Aerospace energy storage is critical for aircraft electrification as it provides effective and dependable power to numerous electrical systems. To exemplify, a press release by the GOV.UK, a government website based in the UK, revealed in February 2023 that the UK government and industry pledged an investment of £113 million ($146.32 million) towards the development of hydrogen and all-electric flight technologies. This is part of their support for projects that aim to develop lightweight batteries for small aircraft and zero-emission liquid hydrogen combusting jet engines. Hence, the escalating demand for aircraft electrification is propelling the aerospace energy storage market's expansion.
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What is the future CAGR of the aerospace energy storage market, and how will it impact industry expansion?
The value of the aerospace energy storage market has expanded significantly lately. An increase from $1.9 billion in 2024 to $2.11 billion in 2025 is predicted, representing a compound annual growth rate (CAGR) of 11.5%. The expansion during the historical phase is due to the high demand for electric aircraft, growing necessity for low-weight energy storage, increased attention to environmental preservation, enhancements in electric propulsion systems, and government's push towards eco-friendly aviation.
Expectations indicate a swift expansion in the aerospace energy storage market in the coming years, with predictions suggesting a growth to $3.19 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.8%. The prospective growth over the forecast period can be credited to the swift proliferation of electric aircraft initiatives, the consistent focus on utilizing lightweight materials, the worldwide shift towards sustainable aviation, and integration with hybrid propulsion systems. Key trends over this forecast period include regulatory propulsion for sustainable aviation, ingenious product innovation, and technological advancement.
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What are the most significant trends transforming the aerospace energy storage market today?
The increased focus on product innovation is becoming a dominant trend in the aerospace energy storage sector. Businesses in this field are striving to create modular, scalable energy storage solutions aimed at aircraft electrification to maintain their market foothold. For example, Electroflight, a US firm known for its specialisation in battery systems for aerospace and defense sectors, introduced the SEED for aerospace energy storage in June 2022. The SEED (Scalable, Expandable, and Energy-efficient) battery system could be easily incorporated without the expensive and lengthy procedure of crafting a personalized battery system. This innovation caters to the growing requirement of aerospace pioneers for the early, pre-certification development stages of hybrid and electric aircraft for trial operations. High safety and quality standards are essential for these battery systems. The SEED system is intended for the initial stages of product development and aims to accelerate the prototype development of electric aviation projects.
Which key market segments comprise the aerospace energy storage market and drive its revenue growth?
The aerospace energy storage market covered in this report 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
Subsegments:
1) By Lead Acid Battery: Flooded Lead Acid Battery, Valve-Regulated Lead Acid (VRLA) Battery
2) By Lithium Battery: Lithium-Ion Battery, Lithium Polymer Battery, Lithium Iron Phosphate (LiFePO4) Battery
3) By Other Types: Nickel-Cadmium (NiCd) Battery, Nickel-Metal Hydride (NiMH) Battery, Solid-State Batteries, Ultracapacitors
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What regions are at the forefront of aerospace energy storage market expansion?
Europe was the largest region in the aerospace energy storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace energy storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the aerospace energy storage market?
Major companies operating in the aerospace energy storage market include 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., Nsure Reliable Power Solutions
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What Is Covered In The Aerospace Energy Storage Global Market Report?
• Market Size Forecast: Examine the aerospace energy storage market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aerospace energy storage market for a structured understanding.
• Key Players Overview: Analyze major players in the aerospace energy storage market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aerospace energy storage market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aerospace energy storage market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aerospace energy storage market.
• Industry Challenges: Identify potential risks and obstacles affecting the aerospace energy storage market.
• Competitive Landscape: Review strategic developments in the aerospace energy storage market, including expansions, agreements, and new product launches.
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