What Is The Current and Historic Market Size Analysis Of Aircraft Batteries Market?
The aircraft batteries market has seen considerable growth due to a variety of factors.
• The aviation battery market has witnessed robust growth in the past few years. The sector, worth $0.74 billion in 2024, is projected to increase to $0.79 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.8%.
Factors contributing to growth during the historic period include a surge in air travel, escalating demand for hybrid and electric propulsion aircraft, rising military expenditure, and heightened emissions from the aviation sector.
What are the Market Size and Expected Growth Rates for the Aircraft Batteries Market?
The aircraft batteries market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions for the aircraft batteries market over the next few years indicate a significant rise in size, with an expected increase to $1.06 billion by 2029, at a compound annual growth rate (CAGR) of 7.6%.
Factors contributing to this growth during the forecast period include an increase in passenger air traffic, heightened demand for new fighter jets from developing nations, and a growing emphasis on lowering emissions. Some of the major trends to watch in this period are the development of high voltage batteries and ultra-low maintenance batteries, advancements in technology and new product developments, a focus on partnerships and collaborations, and the utilisation of lithium-ion batteries.
What Key Factors and Trends are Driving the Growth of the Aircraft Batteries Market?
The growth of the aircraft batteries market has been fueled by the global increase in air travel. Air travel, defined as the transportation of passengers and cargo via any vehicle capable of controlled, sustained flight, has seen a growth in passenger traffic, which has increased demand for aircraft batteries. A May 2022 report from the International Civil Aviation Organization, a specialized agency of the United Nations based in Canada, indicated that air travelers increased by 65% between January and April 2022, compared to 2021, and aircraft departures increased by 30%. Consequently, global air travel growth is steering the expansion of the aircraft batteries market.
What Are The Key Segments Within The Global Aircraft Batteries Market?
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
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How Are New Trends Impacting The Size Of The Aircraft Batteries Market?
The emergence of technological innovations is a notable trend spurring momentum in the aircraft batteries market. Most prominent market players are centering their efforts on tech advancements and the creation of new products to reinforce their market standing. For instance, in September 2022, Ampaire, a hybrid-electric aircraft conversion company based in the US, selected Electric Power (EP) Systems to supply propulsion battery packs for the Eco Caravan aircraft. The Cessna Grand Caravan, a nine-passenger plane, was revamped to become the hybrid-electric Eco Caravan, integrating the EPiC energy storage system from EP Systems. This underscores the broad range of both manned and unmanned aircraft like Embraer Ipanema, Boeing CAV, NASA X-57, Diamond eDA-40, and Aurora Flight Sciences Pegasus that are already leveraging battery systems from EP Systems.
Who Are the Key Players in the Aircraft Batteries Market?
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
What are the Regional Insights into 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.
