“Impending age of electric flight & ever-expanding use of military drones having a profound effect on the Aircraft Battery Market” says new Visiongain report
02 August 2019
The Aircraft Battery market is estimated to witness a Compound Annual Growth Rate (CAGR) of 6.1 per cent from 2019 to 2030.
Commercial aircraft manufacturers are currently renewing their push for more electric and all-electric fleets which is having a profound, driving effect on the Aircraft Battery market.
The defence sector’s widespread use of Unmanned Arial Vehicles (UAVs) is also positively affecting the growth of this market. There is a desire for cost-effective batteries that are compact yet powerful and can cope with the changing conditions of hostile environments.
Visiongain anticipates that global investment and consolidation will be healthy over the next decade or so, with demand for advanced battery solutions continuing to rise and environmental concerns becoming more and more of a priority.
Leading companies such as Tesla Industries, GS Yuasa International, Teledyne Technologies International Corp, Meggitt PLC and EnerSys, among others, are active in this USD 545.4 million market.
The Senior Aviation Analyst said: "There are several, major factors currently driving the Aircraft Battery market forward, such as the new era of electric flight and global proliferation of drone technology.
"However, we also must not dismiss the impact of other, less significant drivers. For example, we are seeing great advancements being made in aircraft manufacturing processes, the large-scale electrification of vital, onboard systems and military modernisation programmes being implemented around the world.
"Delays associated with the procurement of aircraft, especially in the defence sector, is not expected to restrain the Aircraft Battery industry substantially.
"This is why, all things considered, visiongain predicts that the market will register strong, stable growth over the next few years."
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