Aircraft Battery Market worth 667.8 Million USD by 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", published by MarketsandMarkets™, the 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.
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Browse 85 Tables and 37 Figures spread
through 131 Pages and in-depth TOC on "Aircraft Battery Market - Global
Forecast to 2022"
Download PDF Brochure:
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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.
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.
Know more about Aircraft Battery Market:
https://www.marketsandmarkets.com/Market-Reports/aircraft-battery-market-50723530.html
Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
