Aircraft Battery Market to Surpass USD 1068.55 Million by 2030 owing to Electrification Advancements

Aircraft Battery Market?Scope & Overview:

SNS Insider's research underscores the pivotal role of Aircraft Battery?Market?in the aerospace industry's transition to electric and hybrid-electric aircraft. The market's growth is propelled by factors such as the growing commercial aircraft fleet, increased use of avionics, and advancements in battery technologies.

The SNS Insider report indicates that the Aircraft Battery?Market was valued at USD 388 million in 2022, projected to reach USD 1068.55 million by 2030, with a compound annual growth rate of 13.5% expected from 2023 to 2030.

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Aircraft Batteries, converting chemical energy into electrical energy, are essential for starting engines and powering up electrical systems during preflight. The market scope covers prominent technologies like Nickel-cadmium, Lithium-ion, and lead-acid batteries. Key criteria for battery development include high-energy density, lightweight, low maintenance costs, and portability. As aviation electrification gains momentum, challenges arise, including limited energy capacity for larger aircraft. Sustainable battery supply chains are crucial for the industry's environmental transition.

Key Players Included are:

Kokam, EnerSys , GS Yuasa , Cella Energy, Concorde Battery Corporation , Saft , Teledyne Battery Products , MGM COMPRO , EaglePicher Technologies , CustomCells and other players.

Market Analysis

The surging global appetite for air travel has spurred the expansion of commercial aircraft fleets. In this era of advanced aviation, the integration of advanced avionics systems in modern aircraft accentuates the vital role of reliable power sources, elevating the significance of Aircraft Batteries. The industry's trajectory is further shaped by a pivotal shift towards electric and hybrid-electric aircraft, offering a substantial opportunity. This paradigm shift is fueled by relentless research and development endeavors, propelling the evolution of advanced battery technologies. As aviation charts a course towards sustainability, these developments herald a transformative era in the aviation sector.

Segment Analysis

Lithium-ion batteries, acclaimed for high energy density, lead the product segment, while aftermarket services take precedence, driven by maintenance needs. Fixed-wing aircraft, especially in the Advanced Air Mobility (AAM) sector, dominate, demonstrating versatility and efficiency. In the realm of end-users, Original Equipment Manufacturers (OEMs) steer the course, meeting the surging demand for new aircraft with cutting-edge battery technologies.

Market Segmentation & Sub-segmentation included are:

By Offering

• Service
• Product

By Aircraft Type

• AAM
• Rotary-wing
• UAV
• Fixed-wing

By End User

• Aftermarket
• OEM

Key Regional Developments

North America:?The region dominates with numerous Aircraft Battery?manufacturers and extensive investment in innovative battery technology, essential for current and future aircraft technologies.

Asia Pacific:?The fastest-growing region, driven by rebounding passenger traffic, robust aircraft acquisitions, and fleet growth and modernization programs in countries like India, China, South Korea, and Japan.

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Key Takeaways for Aircraft Battery?Market Study

• The Aircraft BatteryMarket is propelled by the aviation sector's increasing focus on electrification, creating opportunities for advanced battery technologies.
• North America and Asia Pacific emerge as key players, with North America leading in battery technology innovation, and Asia Pacific experiencing rapid growth due to heightened air travel demand.

Recent Developments

• UK-based BAE Systemscollaborates with Heart Aerospace to develop a battery system for the Heart ES-30 regional electric aircraft at its facility in Endicott, New York.
• Chinese EV battery manufacturer CATLpartners with COMAC?to explore electric aircraft possibilities, establishing a joint venture called COMAC Times Aviation supported by Shanghai Jiao Tong University's Enterprise Development Group.

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