Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 162 | Code: MRS - 828570
The aerospace battery technology market is set for rapid growth over the forecast period. In terms of revenue, the global aerospace battery technology market accounted for USD 430.0 Million in 2019 and is anticipated to reach around USD 690.0 Million by 2026, growing at a CAGR of 6.8%.
Global Aerospace Battery Technology Market: Overview
Batteries are mostly used in the aircraft industry for power backup and rescue systems, as well as starting the engine and auxiliary power units and flight planning. They are extremely important because they provide electricity to the aircraft in the event of a power outage. Batteries in aircraft must be dependable, long-lasting, low-maintenance, light-weight, low-cost-of-ownership, and have a long life. The market is gradually moving away from lead-acid batteries and into nickel-cadmium and lithium-ion batteries. Batteries are often used in aircraft to control additional systems such as emergency doors, entertainment devices, and escape path lighting. Rechargeable lithium-ion and lithium-polymer batteries are referred to as lithium secondary batteries. Lithium-metal batteries are non-rechargeable lithium main batteries. The type of battery used in an aircraft is determined by the type of aircraft and the battery's viability quotient in relation to the aircraft's usability. Nickel-cadmium batteries are used in large aircraft and helicopters, while valve-operated lead-acid batteries (VRLA) and nickel-cadmium batteries are used in small aircraft and some business jets.
Global Aerospace Battery Technology Market: Growth Factors
Increased demand for lightweight and more powerful aircraft, as well as an increase in aircraft deliveries in the military and commercial sectors and an increase in the number of airports, are projected to drive demand for aerospace battery technology in the region. As a result, the aviation industry's growing market for aerospace battery technology is a major growth driver. Furthermore, Many aircraft battery makers are showing an increased interest in producing more electric aircraft, which is in line with the need to reduce emissions. In addition, the global aerospace battery technology market may be hampered by its deep discharge property and its sensitivity to high temperature In the forecast period. The need for more sophisticated battery technologies is fueled by the desire to reduce weight and fly with electric aircraft. The global aerospace battery technology demand has also been led by an increase in passenger aviation, and increasing aircraft fleet, and technological advancements. Increasing demand for advanced military and commercial aircraft is projected to open new opportunities for the global aerospace battery technology industry in the future.
Global Aerospace Battery Technology Market: COVID-19 Impact
The suspension of commercial air travel after the pandemic has harmed the global aviation industry. The United States, the United Kingdom, Italy, India, and China have initiated stimulus programs to alleviate the impact of COVID-19 on the aviation industry. OEMs of aerospace battery technology are experiencing operational problems, resulting in lower demand for the material. COVID-19 is having a negative impact on the growth of the aerospace battery technology industry. As airline companies fight to stay solvent, aircraft orders and repairs have been put on hold indefinitely. Suppliers of aerospace battery technologies would have to develop alternatives dependent on the rate of containment recovery. The COVID-19 has had a significant effect on global economic development, forcing organizations, individuals, businesses, and policymakers to adapt to the challenges posed by the crises. Air traffic restrictions in various countries have resulted in idle fleets on both domestic and international routes all around the world. The COVID-19 pandemic has had a major impact on the aerospace battery technology market, as well as many others. The global economy and business condition in major sectors around the world have been affected by COVID-19's Coronavirus outbreak in 2020. The pandemic scenario has hampered demand volatility, trade policies, industrial processes, and other instances of global lockdown. The rest of the aircraft industry has been halted due to the COVID-19 epidemic. The aerospace battery industry has been hampered by a supply-demand gap created by available inventory supplies in the OEM and MRO markets, as well as production units. Furthermore, owing to lockdowns in various countries, aircraft deliveries in the first and second quarters of 2020 have been delayed, further reducing manufacturer revenues. The aerospace battery industry endured a supply and demand gap during COVID-19 lockdowns. Although COVID-19 pathogens spread across the workforce, plant capacity can be affected unless appropriate preventative measures are taken. The lockdown also hindered the supply chain and logistics, preventing the supply of finished goods and the procurement of raw materials. Since the majority of the production workforce works in on-site roles that cannot be handled remotely, the aerospace battery technology industry may be particularly vulnerable. Furthermore, given the market's challenges, businesses can need to explore how to provide social distancing in crowded workplaces. Trade controls, market fluctuations, supply chain uncertainty, volatile demand, and labor shortages are all projected to have an effect on the aerospace battery technology industry as a whole.
Global Aerospace Battery Technology Market: Segmentation
The global aerospace battery technology market is segmented as an offering, aircraft type, aircraft technology, power density, application, end-use, end market, sales channel, and region. By offering, the global market is bifurcated into the lead-acid battery, nickel-cadmium battery, lithium-ion battery, and battery management system. By aircraft type, the global market is bifurcated into wide-body aircraft, narrow-body aircraft, general aviation, very large aircraft, helicopter, and others. By aircraft technology, the global market is bifurcated into more electric aircraft, traditional aircraft, electric aircraft and hybrid aircraft. By power density, the global market is bifurcated into less than 300 wh/kg, and more than 300 wh/kg. By application, the global market is bifurcated into the auxiliary power unit (APU), propulsion, emergency, and others. By end-use, the global market is bifurcated into military aviation, civil aviation, and UAV. By the end market, the global market is bifurcated into the OEM and aftermarket. By sales channel, the global market is bifurcated into direct sales and distributor sales. Geographically, the global aerospace battery technology market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Global Aerospace Battery Technology Market: Regional Analysis
The aerospace battery technology industry in North America is the largest, followed by Europe and the Asia Pacific. North America region dominated the global aerospace battery technology market in 2019 and is anticipated to continue its dominance in the upcoming years. Because of its large production base of industrial OEMs and retrofit industry, North America is projected to dominate the market in aerospace battery technology. The North American economy is dominated by the United States. North America has seen consistent growth and is projected to dominate the global aerospace battery technology industry. Eastern and Western European regions are attempting to reclaim their dominance of aircraft carrier battery technology, indicating future expansion in the global aerospace battery technology industry. During the projected period, the Asia Pacific region is expected to expand at a faster rate, with China emerging as the leading market, followed by India and Japan in the global aerospace battery technology market. The expansion of the aerospace battery technology industry in the area would be aided by an increase in the number of military programs and other relevant steps.
Global Aerospace Battery Technology Market: Competitive Players
Some of the key players in the aerospace battery technology market are Concorde Battery Corporation, Cella Energy, EaglePicher Technologies, Enersys, Kokam, GS Yuasa International Ltd, Marathonnorco Aerospace, Marvel Aero International, Saft Groupe S.A., Mid-Continent Instruments and Avionics, Teledyne Battery Products (Teledyne Technologies), Sichuan Changhong Battery Co. Ltd, TransDigm Group, Quallion LLC, Aero Lithium Batteries, Securaplane Technologies Inc, HBL Power Systems Ltd, Gill Battery, Tesla, True Blue Power, Meggitt PLC, among others.
Global Aerospace Battery Technology Market: Regional Segment Analysis
Aerospace Battery Technology
Aerospace Battery Technology