Innovations in Battery Technology Essential for Global UAV Battery Market Growth
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As per Inkwood Research, the Global UAV Battery Market is predicted to grow with a CAGR of 16.32% in terms of revenue during the forecast period of 2022-2030.?
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Although UAVs were first developed for military usage, they are now utilized for a variety of purposes. These include defense, surveillance, product delivery, photography, infrastructure inspection, precision farming, and others. A UAV’s battery pack comprises high-quality items with numerous safety features. The main components of the battery pack are the cells, the battery management system, external contacts or connectors, and the enclosure.
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Innovations in Battery Technology to Promote Global Market’s Growth
Based on present battery technology, drones can fly for up to 40 minutes. Owing to this factor, the correct maintenance and storage of UAV batteries are a vital part of drone operations. The use of smart batteries, which automatically adjust internal voltage, is a notable innovation within the UAV battery market. In order to ensure that batteries are stored at the proper capacity, DJI, for instance, designed a smart battery discharge system capable of lowering the voltage after a few days. Moreover, the UAV battery market has also recognized hydrogen fuel cells as a viable solution with the potential of delivering improved endurance. Hence, innovations in battery technology play an important role in augmenting the global UAV battery market growth.
Defense, Government & Law Enforcement is the Leading End-User
UAVs are required by militaries globally for intelligence, surveillance, and reconnaissance (ISR) and training in combat situations. ISR is a pivotal component of any military force since actionable intelligence enables commanders to make informed decisions that are efficient and prompt. Moreover, UAVs are used by aspiring pilots as well as ground soldiers for aerial target practice, as well. UAVs are therefore highly essential for defense forces across the world. On the other hand, small and large UAVs are also being used by homeland security for diverse purposes, such as border surveillance, search and rescue, and disaster management operations.
North America Dominated the Market in 2021
Leading UAV manufacturers are headquartered in North America. This factor results in increased revenue generation, thereby fueling the growth of the region’s UAV battery market. Also, the presence of key players and the high competition among them make North America the most technically advanced globally. However, the entrance of new players into the market, such as India and China, is likely to restrain the market growth of the region.
Although the UAV battery market is expanding, fierce competition exists among sector players. Nevertheless, major participants possess significant expertise in the market and have been active for over several decades, as well. Some of the leading companies operating in the global market are Plug Power, Intelligent Energy, HES Energy Systems, etc.
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