Aircraft Batteries Market
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What Is the Expected CAGR for the Aircraft Batteries Market Through 2025?
In the past few years, the aircraft batteries market scale has seen a significant expansion. It is projected that the market would see an increase from $0.74 billion in 2024 to $0.79 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.8%. The remarkable growth during the historical period is due to factors such as an increase in air travel, a growing demand for hybrid and electric propulsion aircraft, a rise in military expenditure, and soaring emissions from aviation.
What’s the Projected Size of the Global Aircraft Batteries Market by 2029?
The size of the aircraft batteries market is anticipated to experience robust growth in the forthcoming years, increasing to $1.06 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. This projected growth during the forecast period can be linked to the rise in passenger air traffic, the heightened demand for new fighter jets in emerging nations, and a growing emphasis on emission reductions. The forecast period will also witness major trends such as the emergence of high voltage batteries, innovations in ultra-low maintenance batteries, technological advancements and launch of new products, placing importance on partnerships and collaborations, and the utilization of lithium-ion batteries.
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Top Growth Drivers in the Aircraft Batteries Industry: What’s Accelerating the Market?
The global surge in air travel is a key driver for the expanding aircraft batteries market. Air travel denotes the transportation of passengers and goods via an apparatus capable of controlled, sustained flight. The uptick in air passenger traffic spikes the need for aircraft batteries. For example, a May 2022 report from the International Civil Aviation Organization, a United Nations’ specialized agency located in Canada, indicated a 65% leap in air travelers and a 30% upturn in aircraft departures between January and April 2022 compared to 2021. Thus, the global increase in air travel acts as a catalyst to the growth of the aircraft batteries market.
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What Trends Will Shape the Aircraft Batteries Market Through 2029 and Beyond?
Technological progression is a primary trend emerging in the aircraft batteries market. Numerous prominent companies in this market are emphasizing on technological innovation and creating novel products to fortify their standing in the market. For example, in September 2022, Ampaire, a hybrid-electric aircraft conversion company based in the US, opted for Electric Power (EP) Systems, a US-based energy storage systems provider, to supply propulsion battery packs for their Eco Caravan aircraft. The nine-seater Cessna Grand Caravan was upgraded to the hybrid-electric model, Eco Caravan, which will integrate the EPiC energy storage system from EP Systems. Embraer Ipanema, Boeing CAV, NASA X-57, Diamond eDA-40, and Aurora Flight Sciences Pegasus are some of the aircraft, both manned and unmanned, that are powered by different battery systems from EP Systems.
What Are the Main Segments in the Aircraft Batteries Market?
The aircraft batteries market covered in this report is segmented –
1) By Type: NIMH (Nickel Metal Hydride), Nickel Cadmium (Nicd), Lithium – Ion, Other Battery Types
2) By Technology: Traditional, More Electric, Hybrid Electric, Fully Electric
3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility
Subsegments:
1) By NIMH (Nickel Metal Hydride): High-Capacity NIMH Batteries, Standard NIMH Batteries
2) By Nickel Cadmium (NiCd): Rechargeable NiCd Batteries, High-Rate NiCd Batteries
3) By Lithium-Ion: Lithium-Ion Polymer Batteries, Lithium Iron Phosphate Batteries
4) By Other Battery Types: Lead-Acid Batteries, Solid-State Batteries, Fuel Cell Batteries
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Which Top Companies are Driving Growth in the Aircraft Batteries Market?
Major companies operating in the aircraft batteries market include TotalEnergies SE, Eaglepicher, Teledyne Technologies Inc, HBL Power Systems Ltd, GS Yuasa, Enersys, Concorde Battery Corporation, Sion Power Corp, Mid-Continent Instruments and Avionics, Sichuan Changhong Battery Co. Ltd, High Energy Batteries Limited, Leoch International Technology Limited, Altech Batteries, China Aviation Lithium Battery Co. Ltd., Shenzhen Battery Building Industry Co. ltd., Shenzhen Resky Electronics Co. Ltd., Shenzhen Youliyuan Battery Technology Co. Ltd., Electroflight, Powervamp Ltd, Transair Flight Equipment, Custom Cells Itzehoe GmbH, Saft Company, Zavod AIT LLC, Wamtechnik Sp. z o.o, Industrias Tudor Sp De Bateriais Ltda, Acumuladores Moura S.A, Middle East Battery Company, Exide Industries Ltd, First National Battery, Monbat Batteries Plc
Which Regions Will Dominate the Aircraft Batteries Market Through 2029?
North America was the largest region in the aircraft batteries market in 2024. The regions covered in the aircraft batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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