Designed to support strategic planning, this report breaks down key metrics and trends across the aircraft batteries sector.
How Fast Is The Aircraft Batteries Market Growing Towards 2025?
The aircraft batteries market size has grown strongly in recent years. It will grow from $0.74 billion in 2024 to $0.78 billion in 2025 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to the rise in air travel, increase in demand for hybrid and electric propulsion aircraft, increasing military spending, and increasing emissions from aviation.
The aircraft batteries market size is expected to see strong growth in the next few years. It will grow to $1.03 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to passenger air traffic, growing demand for new fighter jets in developing countries, and increasing focus on reducing emissions. Major trends in the forecast period include high voltage batteries, the development of ultra-low maintenance batteries, the development of technological advancements and the development of new products, focusing on partnerships and collaborations, and using lithium-ion batteries.
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Aircraft Batteries Market Drivers And Opportunities
The rise in air travel across the globe propelled the growth of the aircraft batteries market going forward. The movement of passengers and cargo by any conveyance capable of sustained controlled flight is referred to as air travel. The growth in air passenger traffic contributes to the demand for aircraft batteries. For instance, in May 2022, according to a report published by the International Civil Aviation Organization, a Canada-based specialized agency of the United Nations, between January and April 2022, there were 65% more air travelers than in 2021, and there were 30% more aircraft departures. Therefore, the rise in air travel across the globe is driving the aircraft batteries market.
How Is The Aircraft Batteries Market Segmented?
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
What Are The Future Trends Of The Aircraft Batteries Market?
Technological advancements are a key trend gaining traction in the aircraft batteries market. Major companies operating in aircraft batteries are focusing on technological advancements and developing new products to strengthen their position in the market. For instance, in September 2022, Ampaire, a US-based hybrid-electric aircraft conversion firm, selected Electric Power (EP) Systems, a US-based provider of energy storage systems, to provide propulsion battery packs for the Eco Caravan aircraft. The nine-passenger Cessna Grand Caravan was upgraded to the hybrid-electric Eco Caravan. The Eco Caravan will incorporate the EPiC energy storage system from EP Systems. Embraer Ipanema, Boeing CAV, NASA X-57, Diamond eDA-40 and Aurora Flight Sciences Pegasus are just a few of the manned and unmanned aircraft that are currently powered by other battery systems from EP Systems
Major Companies Operating In The Aircraft Batteries Market Are:
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
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Regional Analysis: Opportunities And Challenges In The Aircraft Batteries Market
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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