In a recent published report, Kenneth Research has updated the market report for Aircraft Battery Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aircraft Battery Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Aircraft Battery Market is estimated to reach $916 million by 2025; growing at a CAGR of 8.6% from 2017 to 2025. An aircraft has a main battery & auxiliary power unit (APU) battery. The main battery is useful in refueling the plane, also offers backup power to the aircraft in emergency power failure. Aircraft batteries assist to power the electrical system in an aircraft. Lithium ion batteries are used in main & APU batteries. Increasing demand of unmanned aerial vehicle (UAV) is expected to act as a major driver for the growth of the aircraft battery market during the forecast period. Rising number of navigational devices, electrical instruments, advanced cabin interior systems and lighting within an aircraft drive the requirement of battery. The increase in long haul flights with zero transitional stops further increases the necessity of large capacity batteries which in turn helps in the growth of the aircraft battery market.
Some of the factors driving the growth of the global aircraft battery market include growing acceptance of UAVs in civil & commercial applications, growing number of aircraft deliveries, and rising implementation of more electric aircraft technology in commercial aircraft. One of the roadblocks associated with the market growth is high initial cost of battery. Moreover, acceptance of fuel cells to decrease carbon emissions and requirement of better battery management systems would create new opportunities for players in this market.
The aircraft battery market has been categorized on the basis of offering, application, aircraft technology, power density, aircraft type, end user, and geography. Offering includes product (battery and battery management system) and service (maintenance & overhaul and other services). Battery is further sub segmented as (nickel cadmium battery, lead acid battery, and lithium ion battery). Application includes auxiliary power unit (APU), propulsion, emergency, and other applications. By aircraft technology, the market is sub segmented into hybrid aircraft, traditional aircraft, more electric aircraft, and electric aircraft. By power density, the market is separated into more than 300 Wh/Kg and less than 300 Wh/Kg. Aircraft type comprises civil aviation (business jets, commercial aircraft, ultralight aircraft, and commercial helicopters), military aviation (military helicopters and military jets), and unmanned aerial vehicle (UAV). On the basis of end user, the market is divided into OEM (by component (product and service)) and aftermarket (by component (product and service)).
Global aircraft battery market, on the basis of geography is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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Major players competing in the market are Concorde Battery Corporation, EnerSys, Saft, Gill Batteries, Sichuan Changhong Battery Co., Ltd., Cella Energy, GS Yuasa Corporation, EaglePicher Technologies, Kokam, and Marvel Aero International, Inc., among other.
The key takeaways from the report:
The report will provide detailed analysis of Global Aircraft Battery Market with respect to major segments such as offering, application, aircraft technology, power density, aircraft type, and end user
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Aircraft Battery Market has been included in the report
Profile of the key players in the Global Aircraft Battery Market will be provided, which include key financials, product & Synthetic Platelets, new developments and business strategies
Scope of the Global Aircraft Battery Market:
Offering Segments
Product
Battery
Nickel Cadmium Battery
Lead Acid Battery
Lithium Ion Battery
Battery Management System
Service
Maintenance & Overhaul
Other Services
Application Segments
Auxiliary Power Unit (APU)
Propulsion
Emergency
Other Applications
Aircraft Technology Segments
Hybrid Aircraft
Traditional Aircraft
More Electric Aircraft
Electric Aircraft
Power Density Segments
More Than 300 Wh/Kg
Less Than 300 Wh/Kg
Aircraft Type Segments
Civil Aviation
Business Jets
Commercial Aircraft
Ultralight Aircraft
Commercial Helicopters
Military Aviation
Military Helicopters
Military Jets
Unmanned Aerial Vehicle (UAV)
End User Segments
OEM
By Component
Product
Service
Aftermarket
By Component
Product
Service
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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