Aircraft Battery Market

According to Stratistics MRC, the Global Aircraft Battery Market is accounted for $440.8 million in 2023 and is expected to reach $1,223.4 million by 2030 growing at a CAGR of 15.7% during the forecast period. Aircraft batteries are specialized energy storage systems designed to power various essential functions within aircraft. They provide electrical energy for starting engines, operating avionics, emergency systems, and auxiliary power units. These batteries are engineered to meet stringent aviation safety standards, ensuring reliability during flight operations and emergencies. With advancements in technology, modern aircraft batteries often incorporate lithium-ion cells for higher energy density and reduced weight.

According to Boeing, the Asia-Pacific region will receive 8,595 aircraft deliveries during the 2022 - 2041 periods. About 76% of the delivered aircraft are expected to be single-aisle aircraft, and approximately 50% of aircraft will be delivered to airlines in China.

Market Dynamics:

Driver:

Rising demand for advanced air mobility solutions

The advent of electric vertical takeoff and landing (eVTOL) aircraft and urban air mobility platforms has revolutionized the aerospace industry by offering efficient, eco-friendly alternatives for short-distance travel. These innovative aircraft rely heavily on cutting-edge battery technologies to power their electric propulsion systems, leading to an increased emphasis on the development of high-energy-density batteries that can provide sustained power over longer flight durations. As the aviation sector seeks to reduce its carbon footprint and transition towards more sustainable options, the demand for reliable and lightweight batteries has surged.

Restraint:

Stringent aviation regulations impacting supply chain of aircraft batteries

As aviation safety remains a paramount concern, regulatory authorities impose rigorous standards on aircraft battery design, manufacturing, and usage. Compliance with these regulations necessitates thorough testing, certification, and adherence to specific guidelines, often leading to increased development timelines and costs. Manufacturers and suppliers must navigate complex certification processes, which could limit the agility of the supply chain and potentially delay the introduction of innovative battery technologies.

Opportunity:

Advancements in chemicals and battery technologies

As breakthroughs occur in materials science, chemistry, and energy storage, novel battery compositions with improved energy density, safety, and longevity are emerging. These developments are particularly advantageous for aviation, where lightweight, high-performance batteries are crucial. Enhanced chemical formulations and technological innovations not only propel the evolution of electric propulsion systems for aircraft but also enable longer flight durations, reduced operational costs, and increased environmental sustainability. Industry players capitalizing on these advancements are poised to shape the future of aviation by delivering efficient and reliable battery solutions to meet the demands of the modern aerospace landscape.

Threat:

Thermal heat discharge

As batteries are pushed to deliver higher power densities for the aviation industry's electric propulsion systems, they generate increased heat during operation. Managing this heat buildup is crucial, as it can lead to reduced battery efficiency, accelerated degradation, and even safety hazards like thermal runaway. Striking a balance between maximizing battery performance and ensuring effective thermal management is essential. Failure to address these challenges adequately could result in compromised flight operations, increased maintenance costs, and safety concerns. Thus, developing advanced thermal management solutions becomes imperative to mitigate the risks associated with excessive heat discharge and maintain the reliability and safety of aircraft battery systems.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the aircraft battery market by disrupting global aviation operations. Travel restrictions, reduced air travel demand, and financial constraints on airlines led to decreased aircraft production and delayed orders, affecting the demand for aircraft batteries. However, the pandemic accelerated the industry's focus on sustainability, encouraging research into more efficient and eco-friendly battery solutions for future aviation. As the industry recovers, the market is poised for resurgence with a renewed emphasis on resilient supply chains and innovative battery technologies aligned with changing aviation needs.

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

The traditional aircraft segment is expected to have lucrative growth. While electric propulsion systems are gaining traction, traditional aircraft continue to rely on batteries for critical functions such as starting engines, powering avionics, and supporting auxiliary systems. These batteries require high reliability, consistent performance, and efficient charging mechanisms to ensure safe and uninterrupted operations. As the aviation industry evolves towards sustainability, traditional aircraft batteries still play a vital role in supporting various operational aspects, even as advancements in electric propulsion reshape the landscape of aircraft battery technology.

The lithium ion battery segment is expected to have the highest CAGR during the forecast period

The lithium ion battery segment is anticipated to witness the fastest CAGR growth during the forecast period. These batteries employ lithium compounds for energy storage through reversible chemical reactions, making them well-suited for various aviation applications. Their lightweight nature is crucial for electric propulsion systems in aircraft, enabling extended flight ranges and improved efficiency. However, ensuring safety remains a critical concern due to the potential for thermal runaway events. As the industry seeks to balance performance and safety, ongoing research aims to enhance lithium-ion battery design, thermal management, and safety features, solidifying their integral role in shaping the future of aircraft battery technology.

Region with largest share:

During the forecast period, it is expected that the North American Aircraft Battery market will continue to hold a majority of the market share. With the increasing focus on electric propulsion systems and sustainable aviation solutions, the region's established aerospace companies and innovative start-ups are driving the demand for advanced aircraft batteries. Regulatory support for electric aircraft development, coupled with investments in research and development, positions North America as a key player in shaping the future of aviation. The presence of major aviation hubs and a strong ecosystem of battery technology providers further strengthen the region's role in influencing the evolution of aircraft battery technologies and solutions.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, Due to airlines' aggressive purchases of commercial aircraft as a result of the region's improving passenger traffic. As part of fleet growth and modernization initiatives, airlines in China, India, Japan, and South Korea have sizable order books for narrow-body and wide-body aircraft from aircraft OEMs. In addition, the region's rising military expenditures as a result of the ongoing geopolitical tensions between the nations are anticipated to drive the armed forces' investment in the acquisition of new-generation military aircraft to improve their aerial capabilities. Similar to this, it is anticipated that the widespread use of drones for business purposes would accelerate market expansion.

Key players in the market

Some of the key players in Aircraft Battery market include Concorde Battery Corporation, GS Yuasa Corporation, HBL Power Systems Ltd, Kokam, EaglePicher Technologies, Enersys, Cella Energy, Mid-Continent Instrument Co., Inc., Teledyne Technologies Incorporated, Marvel Aero International, Meggitt PLC, Saft Groupe SAS, Sichuan Changhong Battery Co. Ltd and Tesla.

Key Developments:

In April 2023, BAE Systems and Heart Aerospace, a Swedish electric airplane maker, will collaborate to define the battery system for Heart’s ES-30 regional electric airplane. The battery will be the first of its kind to be integrated into an electric conventional takeoff and landing (eVTOL) regional aircraft, allowing it to operate efficiently with zero emissions and low noise.

In November 2022, Ampaire, a leader in electric aviation, selected Electric Power Systems (EP Systems) under an exclusive agreement to supply the propulsion battery pack for its hybrid electric upgrade of the Cessna Grand Caravan.

In July 2022, Vertical Aerospace, a global aerospace and technology company that is pioneering zero-emissions aviation announced a strategic partnership with Molicel to supply high-power cylindrical cells for Vertical's VX4 eVTOL aircraft.

Types Covered:
• Lead Acid Battery
• Nickel Cadmium Battery
• Lithium Ion Battery
• Other Types

Aircraft Types Covered:
• Fixed-wing
• Rotary-wing
• Unmanned Aerial Vehicles
• Advanced Air Mobility

Power Densities Covered:
• Less than 100 Wh/kg
• 100- 300 Wh/kg
• More than 300 Wh/kg

Battery Capacities Covered:
• Less than 20 Ah
• More than 20 Ah

Technologies Covered:
• Traditional Aircraft
• Hybrid Aircraft
• More Electric Aircraft
• Electric Aircraft

Applications Covered:
• Propulsion
• Auxiliary Power Unit
• Emergency
• Flight Deck & Flight Control
• Navigation & Communication
• Cabin & Cargo Environmental Control
• Other Applications

Sales Channels Covered:
• Original Equipment Manufacturer
• 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 2021, 2022, 2023, 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

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• 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