Aerospace Battery Market

According to Stratistics MRC, the Global Aerospace Battery Market is growing at a CAGR of 10.3% during the forecast period. An aerospace battery is a high-performance energy storage device designed to power electrical systems in aircraft, satellites, and spacecraft. These batteries must meet stringent requirements for lightweight construction, reliability, and safety under extreme conditions, such as high altitudes, temperature fluctuations, and vibration. They utilize advanced chemistries like lithium-ion or nickel-cadmium for long life cycles, energy density, and durability, ensuring consistent power supply for navigation, communication, avionics, and emergency backup systems.  

According to the data from the International Air Transport Association (IATA), global passenger traffic is expected to reach 8.2 billion passengers by 2037, doubling from the 4.1 billion passengers recorded in 2017.

Market Dynamics:

Driver: 

Growing unmanned aerial vehicle market

The expanding unmanned aerial vehicle (UAV) market is a significant driver for the aerospace battery industry. As UAV applications in the military, commercial, and civilian sectors continue to grow, the demand for high-performance, lightweight batteries increases. UAVs require efficient power sources to extend flight times and enhance operational capabilities. This trend is driving innovation in battery technology, particularly in lithium-ion and fuel cell solutions, to meet the specific needs of various UAV platforms. The growing UAV market is thus stimulating research, development, and production of advanced aerospace batteries.

Restraint:

Limited energy density

Despite advancements, current battery technologies still struggle to match the energy density of conventional aviation fuels. This limitation impacts the range and payload capacity of electric and hybrid-electric aircraft, particularly for larger commercial planes. The challenge of increasing energy density while maintaining safety standards and reducing weight hinders the widespread adoption of battery-powered propulsion systems in aviation.

Opportunity:

Development of solid-state batteries

Solid-state technology offers potential advantages such as higher energy density, improved safety, and faster charging capabilities compared to traditional lithium-ion batteries. These characteristics make solid-state batteries particularly attractive for aerospace applications, where weight, safety, and performance are critical factors. As research progresses and manufacturing processes improve, solid-state batteries could revolutionize electric propulsion in aviation, enabling longer flight times and enhanced aircraft performance. This emerging technology opens new avenues for innovation and market growth in the aerospace sector.

Threat:

Competition from alternative technologies

Advancements in hydrogen fuel cells, hybrid-electric systems, and sustainable aviation fuels are challenging the dominance of battery-powered solutions in aerospace applications. These competing technologies offer potential advantages in terms of energy density, range, and environmental impact. As the aviation industry seeks to reduce carbon emissions, the race to develop the most efficient and sustainable power sources intensifies. This competition could potentially slow the adoption of battery technologies in certain aerospace segments.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the aerospace battery market, causing disruptions in supply chains and reduced demand due to travel restrictions. However, it also accelerated the focus on sustainable aviation technologies, including electric propulsion. As the industry recovers, there's increased interest in battery-powered solutions for shorter routes and urban air mobility, potentially driving long-term growth in the aerospace battery market despite initial setbacks.

The commercial aircraft segment is expected to be the largest during the forecast period

Over the forecasted timeframe, the commercial aircraft segment is anticipated to dominate the market share. This dominance is driven by the increasing adoption of more electric aircraft (MEA) technologies in commercial aviation. Airlines are seeking to reduce fuel consumption and emissions, leading to greater integration of electric systems in aircraft. The growing demand for auxiliary power units (APUs) and emergency power systems in commercial planes further boosts the need for advanced aerospace batteries. Additionally, the development of electric taxiing systems and the gradual electrification of non-propulsive systems contribute to the segment's market leadership.

The propulsion segment is expected to have the highest CAGR during the forecast period

During the projection period, the propulsion segment is expected to grow at the highest CAGR. This rapid growth is attributed to the increasing focus on electric and hybrid-electric propulsion systems in aviation. The push for sustainable air travel is driving investments in battery-powered propulsion technologies, particularly for short-haul flights and urban air mobility vehicles. Advancements in battery technology, such as improved energy density and power output, are making electric propulsion more viable for larger aircraft, fueling the segment's expansion.

Region with largest share:

During the estimation period, the North America region is expected to capture the largest market share. This dominance is driven by the presence of major aerospace manufacturers, significant investments in electric aviation, and supportive government initiatives. The region's strong focus on technological innovation and early adoption of electric aircraft contributes to its market leadership. Additionally, the growing demand for UAVs in military and commercial applications further boosts the aerospace battery market in North America.

Region with highest CAGR:

The Asia Pacific region is projected to achieve the highest CAGR during the forecast period. This rapid growth is fueled by increasing investments in aerospace technology, rising air travel demand, and government initiatives promoting sustainable aviation. Countries like China, Japan, and South Korea are making significant strides in electric aviation and battery technology. The region's expanding manufacturing capabilities and growing focus on reducing carbon emissions in the aviation sector contribute to its high growth rate.

Key players in the market

Some of the key players in Aerospace Battery Market include Bren-Tronics, Inc., Concorde Battery Corporation, GS Yuasa International Ltd., Saft Groupe SA, Sion Power Corporation, Navitas Systems, ECOBAT, Lincad, WAE Technologies Limited, Shift Clean Energy, Exide Technologies, Teledyne Battery Products, EaglePicher Technologies LLC, Amprius Technologies, Kokam Co., Ltd., True Blue Power, Electric Power Systems, and FIAMM Energy Technology S.p.A.

Key Developments:

In June 2024, GS Yuasa announced that the batteries developed and manufactured by GS Yuasa Group company GS Yuasa Technology Ltd. (“GYT”) have been installed in the Third H3 Launch Vehicle developed by Mitsubishi Heavy Industries, Ltd. and the Japan Aerospace Exploration Agency (“JAXA”) for a planned launch from the Tanegashima Space Center on Jun 30, 2024, as well as the Advanced Land Observing Satellite-4 “DAICHI-4” (ALOS-4)*1.

In January 2024, Sion Power raised $75 million in Series A funding to commercialize its next-generation EV battery technology. The round was led by LG Energy Solution and will be used to build an automated manufacturing line for large format lithium-metal cells.

In September 2023, Lincad is pleased to announce it has signed a new contract with Marshall Aerospace to develop its lithium-ion battery technology for an airborne application. Lincad’s batteries will power sensors for intelligence and surveillance applications to support the expansion of the Adaptable Role fit Capability (ARC) family of products.

Battery Types Covered:
• Nickel-Cadmium Batteries
• Lithium-Ion Batteries
• Lead-Acid Batteries
• Nickel-Metal Hydride (NiMH) Batteries
• Other Battery Types

Aircraft Types Covered:
• Unmanned Aerial Vehicles (UAVs)
• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Helicopters
• Spacecraft
• Satellites

Power Capacities Covered:
• Low Power (Below 100 Wh)
• Medium Power (100 Wh - 1000 Wh)
• High Power (1000 Wh - 5000 Wh)
• Ultra-High Power (Above 5000 Wh)

Applications Covered:
• Propulsion
• Auxiliary Power Units (APUs)
• Emergency Systems
• Starting and Ignition Systems
• Other Applications

Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances