Market NEWS: The aircraft battery market is projected to grow from an estimated USD 475.0 Million in 2017 to USD 667.8 Million by 2022, at a CAGR of 7.05% from 2017 to 2022.
According to the new market research report "Aircraft
Battery Market by Offering (Product- Battery (NICAD, Lithium Ion, Lead
Acid, Others), BMS, Services) Application (Propulsion, APU, Emergency),
Aircraft Type, End User, Power Density, Aircraft Technology, and Region -
Global Forecast to 2022",
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85 Tables and 37 Figures spread through 132 Pages and in-depth TOC on
"Aircraft Battery Market - Global Forecast to 2022"
Press Release
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reports.
Aircraft manufacturers are increasingly shifting
towards the More Electric Architecture (MEA) that involves majority of
non-propulsive systems in an aircraft being powered by electricity. The growing
shift toward the more electric aircraft technology is expected to propel the
demand for aircraft batteries during the forecast period.
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The
UAV segment under the aircraft type is witnessing strong growth in the aircraft
battery market. Drones are widely accepted by the defense sector worldwide,
owing to their limited operational costs in comparison to manned aircraft and
benefits offered by them to defense forces. Moreover, there have been huge
R&D investments in the field of drones that have widened their
applicability in mining, surveying, 3D mapping, and oil & gas exploration
activities, among others.
Based on end user, the OEM segment is projected to
lead the aircraft battery market during the forecast period.
Based on end user, the OEM segment is expected to lead
the aircraft battery market during the forecast period. In the aviation
industry, aircraft are manufactured and delivered to airlines with aircraft
battery technology already installed in the aircraft. Original Equipment
Manufacturers (OEMs) are responsible for the installation of battery
components. This has become a suitable alternative for airline companies, as
post the delivery of aircraft, modification becomes cumbersome for aircraft
manufacturers.
Based on offering, the product segment of the aircraft
battery market is projected to witness the highest growth during the forecast
period.
Based on offering, the product segment of the aircraft
battery market is projected to witness the highest growth during the forecast
period. The product segment includes all the battery types and battery
management systems used in aircraft. As the aircraft architecture is moving
more towards electrical systems, the need for better and more number of
batteries is driving the product segment of the aircraft battery market.
The North America region is expected to lead the
aircraft battery market during the forecast period 2017 to 2022.
The North America region is expected to lead the
aircraft battery market during the forecast period. The growth of the North
America aircraft battery market is driven by factors such as the rapid growth
in the aircraft manufacturing, technological advancements in aircraft
architecture, and growth in the electric aircraft industry. Thus, the market
for aircraft batteries is expected to witness considerable growth in the region
following the increased demand from various applications.
Major companies profiled in the aircraft battery
market report are Concorde Batteries (US), Saft (France), EnerSys (US),
EaglePitcher (US), and Gill Batteries (US), among others.
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