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Aircraft Battery Market to Surpass USD 1068.55 Million by 2030 owing to Electrification Advancements

Aircraft Battery market

Aircraft Battery market

Aircraft Battery Market driven by demand for reliable power, shifting to lithium-ion for efficiency and lightweight design.

AUSTIN, TEXAS, UNITED STATES, February 28, 2024 / -- Aircraft Battery Market Overview:

The π€π’π«πœπ«πšπŸπ­ 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐫𝐀𝐞𝐭 is witnessing steady growth driven by the increasing demand for aircraft across commercial, military, and general aviation sectors. The rise in air travel, coupled with the growing fleet size and the need for more reliable power sources, is fueling the demand for advanced aircraft batteries. Lithium-ion batteries are gaining popularity in the aircraft industry due to their high energy density, lightweight, and longer life compared to traditional lead-acid batteries. These batteries are being used in various aircraft systems, including emergency power units, auxiliary power units, and main batteries, contributing to the market's growth.

Another key trend in the Aircraft Battery Market is the development of smart batteries with advanced monitoring and diagnostic capabilities. These batteries can provide real-time data on their health, performance, and remaining capacity, allowing for proactive maintenance and improved safety. The integration of battery management systems (BMS) with these smart batteries further enhances their efficiency and reliability, making them ideal for use in modern aircraft. Additionally, the growing focus on reducing carbon emissions in the aviation industry is driving the development of more efficient and environmentally friendly aircraft batteries, further boosting the market growth.

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SNS Insider's research underscores the pivotal role of aircraft batteries in the aerospace industry's transition to electric and hybrid-electric aircraft. The market's growth is propelled by factors such as the growing commercial aircraft fleet, increased use of avionics, and advancements in battery technologies.

Market Sizing Paragraph:

The SNS Insider report indicates that the Aircraft Battery Market was valued at USD 388 million in 2022, projected to reach USD 1068.55 million by 2030, with a compound annual growth rate of 13.5% expected from 2023 to 2030.

Market Report Scope

Aircraft batteries, converting chemical energy into electrical energy, are essential for starting engines and powering up electrical systems during preflight. The market scope covers prominent technologies like Nickel-cadmium, Lithium-ion, and lead-acid batteries. Key criteria for battery development include high-energy density, lightweight, low maintenance costs, and portability. As aviation electrification gains momentum, challenges arise, including limited energy capacity for larger aircraft. Sustainable battery supply chains are crucial for the industry's environmental transition.

Major Key Players Included are:

β†’ Kokam
β†’ EnerSys
β†’ GS Yuasa Corporation
β†’ Cella Energy
β†’ Concorde Batteries
β†’ Saft
β†’ Teledyne Battery Products
β†’ MGM Compro
β†’ EaglePicher Technologies
β†’ Custom cells and other players.

Market Analysis

The surging global appetite for air travel has spurred the expansion of commercial aircraft fleets. In this era of advanced aviation, the integration of advanced avionics systems in modern aircraft accentuates the vital role of reliable power sources, elevating the significance of aircraft batteries. The industry's trajectory is further shaped by a pivotal shift towards electric and hybrid-electric aircraft, offering a substantial opportunity. This paradigm shift is fueled by relentless research and development endeavors, propelling the evolution of advanced battery technologies. As aviation charts a course towards sustainability, these developments herald a transformative era in the aviation sector.

Segment Analysis

Lithium-ion batteries, acclaimed for high energy density, lead the product segment, while aftermarket services take precedence, driven by maintenance needs. Fixed-wing aircraft, especially in the Advanced Air Mobility (AAM) sector, dominate, demonstrating versatility and efficiency. In the realm of end-users, Original Equipment Manufacturers (OEMs) steer the course, meeting the surging demand for new aircraft with cutting-edge battery technologies.

Market Segmentation & Sub-segmentation included are:

By Offering
β€’ Service
β€’ Product

By Aircraft Type
β€’ AAM
β€’ Rotary-wing
β€’ UAV
β€’ Fixed-wing

By End User
β€’ Aftermarket
β€’ OEM

Key Regional Developments

North America:Β The region dominates with numerous aircraft battery manufacturers and extensive investment in innovative battery technology, essential for current and future aircraft technologies.

Asia Pacific:Β The fastest-growing region, driven by rebounding passenger traffic, robust aircraft acquisitions, and fleet growth and modernization programs in countries like India, China, South Korea, and Japan.

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Key Takeaways for Aircraft Battery Market Study

β€’ The Aircraft Battery Market is propelled by the aviation sector's increasing focus on electrification, creating opportunities for advanced battery technologies.
β€’ North America and Asia Pacific emerge as key players, with North America leading in battery technology innovation, and Asia Pacific experiencing rapid growth due to heightened air travel demand.

Recent Developments
β€’ UK-based BAE Systems collaborates with Heart Aerospace to develop a battery system for the Heart ES-30 regional electric aircraft at its facility in Endicott, New York.
β€’ Chinese EV battery manufacturer CATL partners with COMACΒ to explore electric aircraft possibilities, establishing a joint venture called COMAC Times Aviation supported by Shanghai Jiao Tong University's Enterprise Development Group.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Aircraft Battery Market Segmentation, By Offering

9. Aircraft Battery Market Segmentation, By Aircraft Type

10. Aircraft Battery Market Segmentation, By End User

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

About Us:

SNS InsiderΒ is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
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