Research Nester has released a report titled “Aircraft Battery Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The shipments of aviation airplane grew from 1132 units in the year 1994 to 2399 units in the year 2020, according to the statistics by the General Aviation Manufacturers Association (GAMA).
The statistics portray the growing demand for different types of aviation airplanes worldwide. In the recent years, the demand for air travel has grown significantly, which is driving the need amongst airline operators to expand their existing fleet. With the surge in the adoption of aircrafts worldwide, the demand for aircraft batteries is also projected to grow massively, and in turn contribute to the market growth. Moreover, owing to the rising concerns for aviation emissions globally, aircraft manufacturers are looking forward towards efficient aircrafts, and are adopting electric aircrafts or are adapting to modern processes that can mitigate the issue of emission. Such a factor is also expected to drive the growth of the market in the coming years.
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The global aircraft battery market is anticipated to grow with a CAGR of 7.26% during the forecast period, i.e., 2021-2030. The market is estimated to garner a revenue of USD 1068.7 Million by the end of 2030, up from a revenue of USD 539.2 Million in the year 2020. The market is segmented by battery type into nickel-based battery, lead acid battery, and lithium-ion battery. By the end of 2030, the lead acid battery segment is anticipated to garner the largest revenue of USD 597.6 Million. Moreover, in the year 2020, the segment registered a revenue of USD 289.9 Million. Besides this, the market is also segmented on the basis of power density into less than 100 Wh/Kg, and more than 100 Wh/Kg, out of which, the more than 100 Wh/Kg segment is projected to grow with the highest CAGR of 8.53% during the forecast period.
The global aircraft battery market is segmented by region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst the market in these regions, the market in North America is anticipated to garner the highest market share throughout the forecast period and also attain the largest revenue of USD 394.3 Million by the end of 2030, up from USD 194.3 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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However, the operational challenges that remain with batteries is one of the major factors predicted to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global aircraft battery market, which includes company profiling of Teledyne Technologies Incorporated, Concorde Battery Corporation, Kokam Co., Ltd., EnerSys, Sichuan Changhong Battery Co., Ltd., Mid-Continent Instrument Co., Inc., Saft, EaglePicher Technologies, HBL Power Systems Ltd., Meggit PLC, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Aircraft Battery Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global aircraft battery industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global aircraft battery market in the near future.
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