Aircraft Battery Market Size & Share
Aircraft Battery Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026 See less
Aircraft Battery Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Aircraft Battery Market is segmented by Battery Type (Nickel-Cadmium Battery, Lithium-Ion Battery, and Lead-Acid Battery), by Sales Channel Type (Direct Sales and Indirect Sales), by Aircraft Type (Commercial Aircraft [Wide-Body Aircraft and Narrow-Body Aircraft]), Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Battery Market is segmented by Battery Type (Nickel-Cadmium Battery, Lithium-Ion Battery, and Lead-Acid Battery), by Sales Channel Type (Direct Sales and Indirect Sales), by Aircraft Type (Commercial Aircraft [Wide-Body Aircraft and Narrow-Body Aircraft]), Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and by Region...
In the aircraft industry, batteries are used mainly for power backup and emergency systems, starting the engine and auxiliary power units, and flight preparation. They play a very crucial role as they supply power to the aircraft in the case of power failure. Batteries in the aircraft must be reliable, durable, lower in maintenance, low weight, lower in the cost of ownership, and have an extended life. The industry is witnessing a gradual transition from lead-acid batteries to nickel-cadmium batteries to lithium-ion batteries.
With unending orders and booming demand, the aerospace industry exhibited an uphill trajectory up until 2019. The market underwent a minimal impact of B737MAX grounding, only the North American demand suffered a minor downturn in 2019. However, this flourishing industry could not escape from the ravaging pandemic in 2020. What initially seemed like a viable hitch, lately has metamorphosed into an obstruction for survival for many stakeholders across industries.
The aircraft battery market is expected to mirror the industry’s fitful path, marking a grave decline (+25%) in 2020. The short-term impact on the market is apparent including but not limited to employee layoffs, cash-burnouts of several players including the big guns, production halts, and reductions, etc. However, unceasing demand from the relatively unstirred defense industry offered a supporting hand to the batteries’ falling demand in 2020.
The long-term outlook still seems hopeful with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market. Stratview Research’s estimates suggest that the market is likely to pick up the pace from 2021 onwards to reach an estimated value of US$ 210 million in 2026.
In recent years, the overall market has witnessed a shift towards a more electric architecture including the different electrical systems present in an aircraft. More and more aircraft systems are now electrically connected, which increases the market opportunity for the battery manufacturers. Also, the increasing demand for unmanned aerial vehicles for commercial, civil, and military applications accelerates the market growth of aircraft batteries, as they primary bank on batteries with long lives.
Based on the battery type, the aircraft battery market is classified as nickel-cadmium battery, lithium-ion battery, and lead-acid battery. Among the different types of batteries, nickel-cadmium batteries are the most preferred ones in 2020 and are also expected to maintain their dominance in the market during the forecast period as well. Concurrently, lithium-ion batteries are likely to witness the highest growth during 2021-2026 in the wake of their preference for the latest aircraft programs.
In terms of regions, North America held the largest market share for aircraft electrical batteries in 2020. This region houses a number of key market players such as Securaplane Technologies, Inc., Concorde Battery, and EnerSys. The region’s aerospace industry is currently under immense pressure in the wake of several challenges starting from B737max grounding paired with the COVID-19 outbreak. However, it is anticipated that the region’s market will mark an excellent recovery in the near future, helping the region to maintain its legacy in the global market in the foreseen future.
Asia-Pacific, a sizeable market, is likely to offer the highest growth opportunities to the market participants in the coming five years, driven by a multitude of factors including greater production of commercial aircraft, higher involvement of Asian companies in the aircraft part manufacturing, and higher inclination of Asian countries to become self-sufficient in the aerospace industry.
The competitive landscape of the batteries market for the aerospace industry is quite different than other end-use industries such as automotive. The aircraft battery market is highly consolidated with a couple of companies securing a huge market dominance. The following are the key players in the aircraft battery market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft battery market realities and future market possibilities for the forecast period of 2021 to 2026.
The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The aircraft battery market is segmented into the following categories:
Aircraft Battery Market by Material Type
Aircraft Battery Market by Sales Channel Type
Aircraft Battery Market by Aircraft Type
Aircraft Battery Market by Region
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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Aircraft batteries are used mainly for power backup and emergency systems, starting the engine and auxiliary power units, and flight preparation in the aerospace & defense industry. They play a very crucial role as they supply power to the aircraft in the case of power failure.
The aircraft battery market is estimated to grow at a CAGR of 8.5% over the next five years to reach a value of US$ 210 Million by 2026.
North America is expected to remain the largest market for batteries in the aerospace industry during the forecast period. The region is the manufacturing capital of commercial, regional, business jets, and military aircraft. The region also holds one of the largest commercial aircraft fleet sizes worldwide.
The key battery manufacturers are Saft Groupe S.A., GS Yuasa Corporation, Concorde Aircraft Batteries, Securplane Technologies Inc., and EnerSys.
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