Global Aircraft Battery Market is Estimated to Reach $916 million by 2025
Global Aircraft Battery Market report published by Accurize Market Research forecast that the global market is expected to reach $916 million by 2025; growing at a CAGR of 8.7% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rising adoption of UAVs in civil & commercial applications fuels to drive the global market
The global aircraft battery market trend includes an increase in a number of aircraft deliveries, rising adoption of UAVs in civil & commercial applications, as well as growing execution of more electric aircraft technology in commercial aircraft. However, the huge initial cost of battery might act as a barrier for the global aircraft battery market growth. Also, the acceptance of fuel cells to decrease carbon emissions and the requirement of better battery management systems is expected to provide several opportunities for the market in the coming years.
Offering, application, aircraft technology, power density, aircraft type, end-user, and geography are the classification of the global aircraft battery market. The offering segment is categorized into the product (battery and battery management system) and service (maintenance & overhaul and other services). The auxiliary power unit (APU), propulsion, emergency, and other applications are the segregation of the application segments. The aircraft technology segment is sub-segmented into hybrid aircraft, traditional aircraft, more electric aircraft, and electric aircraft. On the basis of power density, the segmentation includes more than 300 Wh/Kg and less than 300 Wh/Kg. By aircraft type, the market is separated as civil aviation (business jets, commercial aircraft, ultralight aircraft, and commercial helicopters), military aviation (military helicopters and military jets), and unmanned aerial vehicle (UAV). Furthermore, the end-user comprises OEM (by component (product and service)) and aftermarket (by component (product and service)).
North America, Europe, Asia-Pacific and the Rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada, and Mexico. Europe covers countries like Russia, the U.K., Germany, France, Italy and the Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa, and the Middle East.
"Product accounted for the largest market share in the offering segment", says Accurize