Global Aircraft Battery Market is Estimated to Reach $916 million by 2025, Says Accurize Market Research
Global Aircraft Battery Market report published by Accurize Market Research forecast that the global market is expected to reach $916 millionby 2025; growing at a CAGR of 8.7% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rising adoption of UAVs in civil & commercial applications fuels to drive the global market
The global aircraft battery market trend includes increase in number of aircraft deliveries, rising adoption of UAVs in civil & commercial applications, as well as growing execution of more electric aircraft technology in commercial aircraft. However, huge initial cost of battery might act as a barrier for the global aircraft battery market growth. Also, acceptance of fuel cells to decrease carbon emissions and requirement of better battery management systems is expected to provide several opportunities for the market in the coming years.
MarketSegmentation
Offering, application, aircraft technology, power density, aircraft type, end user, and geography are the classification of the global aircraft battery market. The offering segment is categorized into product (battery and battery management system) and service (maintenance & overhaul and other services). Auxiliary power unit (APU), propulsion, emergency, and other applications are the segregation of application segment. Aircraft technology segment is sub-segmented into hybrid aircraft, traditional aircraft, more electric aircraft, and electric aircraft. On the basis of power density, the segmentation includes more than 300 Wh/Kg and less than 300 Wh/Kg. By aircraft type, the market is separated as civil aviation (business jets, commercial aircraft, ultralight aircraft, and commercial helicopters), military aviation (military helicopters and military jets), and unmanned aerial vehicle (UAV). Furthermore, end user comprises OEM (by component (product and service)) and aftermarket (by component (product and service)).
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"Product accounted for the largest market share in the offering segment", says Accurize
On the basis of offering, product segment is expected to witness the highest growth over the forecast period. All the battery types as well as battery management systems used in aircraft are included in the product segment. The requirement for better and more number of batteries is increasing as the aircraft architecture is inclining more towards electrical systems, which is further driving the product segment of the aircraft battery market. OEM, by end user is projected to dominate the market over the forecasted period. In the aviation manufacturing, aircrafts are manufactured with installed aircraft battery technology in the aircraft & delivered to airlines. OEMs are accountable for the fixing of battery components. This is likely to drive the growth of the OEM segment of the global aircraft battery market.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America is projected to dominate the aircraft battery market throughout the forecast period. The growth of the region is contributed to the technological improvements in aircraft architecture, fast growth in aircraft manufacturing, and growing electric aircraft industry. Owing to this, the aircraft battery market is projected to grow in the region.
Top players in the market
Major companies operating in the market include EaglePicher Technologies, Concorde Battery Corporation, EnerSys, Saft, Gill Batteries, Sichuan Changhong Battery Co., Ltd., Cella Energy, Marvel Aero International, Inc., GS Yuasa Corporation, and Kokam, among others.
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