Aerospace and Defense Battery Market Size is valued at USD 9.08 Bn in 2023 and is predicted to reach USD 16.39 Bn by the year 2031 at a 7.84% CAGR during the forecast period for 2024-2031.
Batteries are a source of power for a wide array of applications in the aerospace and defence industries. Some examples of these applications include aeroplanes, spacecraft, missiles, unmanned aerial vehicles (UAVs), military vehicles, communication systems, and a wide variety of electronic gadgets. Given the demanding and frequently mission-critical nature of aerospace and defence applications, these batteries must meet strict standards for energy density, dependability, safety, and performance. The rise of the aircraft battery market can be attributed to different causes, including the need to implement more electrical solutions to ensure the long-term performance of aviation systems and aircraft safety. The demand for helicopters and business jets to deliver medical supplies, freight, VIPs, and charter flights has significantly increased.
However, the COVID-19 epidemic has significantly impacted the aerospace and defence sectors of the economy, as well as the market for batteries utilized in these sectors. The pandemic brought forth a number of difficulties and disruptions that had an impact on demand, supply chains, manufacturing, and research and development initiatives.
Competitive Landscape
Some Major Key Players In The Aerospace and Defense Battery Market:
- Bren-Tronics, Inc.
- Concorde
- ECOBAT
- GS Yuasa International Ltd.
- Lincad
- Navitas System
- SAFT
- Sion Power Corporation
- WAE Technologies Limited
- Shift
- DENCHI POWER
- Kokam
- Enersys
- EXIDE Technologies
- Mathew Associates
- Navitas Systems
- Teledyne Technologies
- Cell-Con
- Leclanche Sa
- Sterling Planb Energy Solutions
- Lifeline Batteries
- BST Systems, Inc.
- Eaglepicher Technologies
- Arotech Corporation
- Ultralife Corporation
- Korea Special Battery Co., Ltd.
- Others
Market Segmentation:
The Aerospace and Defense Battery Market is segmented on the basis of application, battery type, and sales. Based on application, the market consists of space (Satellite, Launch Vehicle, Deep Space), aircraft (Military, Civil & Commercial), UAV (Military, Civil & Commercial), and defence (Ground Based, Marine Based. The battery type segment includes Lithium-Based Battery (Lithium Polymer Battery, Lithium-Ion Battery), Nickel-Based Battery (Nickel-Cadmium (NiCd) Battery, Nickel-Metal Hydride Battery), Thermal Battery, and others. By sales, the market is segmented into OEM Aftermarket.
Based On Application, The UAV Segment Is Accounted As A Major Contributor In The Aerospace And Defense Battery Market.
The UAV category is expected to hold a major share of the global Aerospace and Defense Battery Market in 2024. Unmanned aerial vehicles (UAVs) have become essential components of modern military operations, surveillance, and civilian applications. The increasing need for longer endurance and higher cargo capacity is one of the most significant developments affecting this industry. This involves the development of new battery technologies capable of supporting complex payloads such as high-resolution cameras and sensors and offering prolonged flight durations.
The Lithium-Ion Battery Segment Witnessed Growth At A Rapid Rate.
The Lithium-Ion Battery category is projected to grow at a rapid rate in the global Aerospace and Defense Battery Market. Lithium-ion (or Li-ion) batteries are smaller, require less maintenance, and are safer for the environment than nickel-cadmium (also known as NiCad, NiCd, or Ni-Cd) batteries. As a result, the use of lithium-ion batteries is expected to grow at the fastest rate when compared to other types during the projected period.
In The Region, The North America Aerospace And Defense Battery Market Holds A Significant Revenue Share.
The North America Aerospace and Defense Battery Market is expected to record the maximum market revenue share in the near future. The existence of a greater number of established defence and aerospace firms, as well as high-capacity battery producers, is propelling the regional market. A convergence of variables influences the regional market, including defence investments, electrification efforts, sustainability concerns, and collaborative research activities. These trends are projected to continue altering the market landscape, making it an important region for industry players and investors. Moreover, Asia Pacific is expected to increase at a significant rate over the forecast period. Many Asian Pacific countries have increased their defence budgets, modernising military equipment such as advanced aircraft, naval vessels, and ground-based systems. As a result, high-performance batteries are in high demand.
Recent Developments:
- In Feb 2023, Ecobat initiated the construction of its third facility dedicated to recycling lithium-ion batteries, representing its inaugural foray into North America. The newly established factory in Casa Grande, Arizona, initially generated an expected annual output of 10,000 tons of recycled material, with intentions to enhance its capacity to meet the increasing requirement for recycling lithium-ion batteries.
- In July 2022, Exide Industries started the establishment of a facility in Bengaluru dedicated to the production of lithium-ion battery cells. It was reported to the exchange by the company that a sales agreement for the establishment of an 80-acre facility had been executed by its subsidiary.
Aerospace and Defense Battery Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 9.08 Bn |
|
Revenue Forecast In 2031 |
USD 16.39 Bn |
|
Growth Rate CAGR |
CAGR of 7.84 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (Unit), and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application, Battery Type, Sales |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Bren-Tronics, Inc., Concorde, ECOBAT, GS Yuasa International Ltd., Lincad, Navitas System, SAFT, Sion Power Corporation, WAE Technologies Limited, Shift, DENCHI POWER, Kokam, Enersys, EXIDE Technologies, Mathew Associates, Navitas Systems, Teledyne Technologies, Cell-Con, Leclanche Sa, Sterling Planb Energy Solutions, Lifeline Batteries, BST Systems, Inc., Eaglepicher Technologies, Arotech Corporation, Ultralife Corporation, Korea Special Battery Co., Ltd., Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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