The market growth is credited to growing demand for long duration flight time, high performance, UAVs for military applications.
The global UAV battery market accounted for US$ 1137.4 Million in 2020 and is estimated to be 3244.9 Million by 2029 and is anticipated to register a CAGR of 12.4%. The report. “Global UAV Battery Market, By Type (Medium Altitude Long Endurance, High Altitude Long Endurance, Tactical UAVs, and Small UAVs), By Battery Type (Fuel Cell, Lithium-Ion, Lithium Polymer, and Nickel Cadmium), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
The prominent player operating in the global UAV battery market includes Ballard Power Systems, Cella Energy Limited, EaglePicher Technologies, Denchi Power Ltd., H3 Dynamics, Sion Power Corporation, OXIS Energy Ltd., Kokam, and Tadiran Batteries GmbH.
- In February 2018, Sion Power, a global developer of lithium battery technology, declared the appointment of Dr. Jeff Britt as Vice President of operations. Britt’s duties will include overseeing the company’s and production easiness.
- In June 2019, OXIS Energy is setting up the first-ever manufacturing plant specifically for the mass production of lithium-suffer cells for the production of electrolyte and cathode active material. At the Kenfig Industrial Estate Port Talbot in Wales, the plant will be constructed.
Rising production of UAVS for deployment in the militaries across the globe
Growing UAV production across the world is forecasting to demand high for different types of batteries. In the UAV market, the U.S. estimated for the highest share of 41.9% by value, and 37.8% by volume in 2017. Additionally, Asia Pacific estimated for the second highest market for UAV batteries and second biggest share in the UAV market in 2017, followed by Europe and the rest of the world. Hence, growing production of UAVs across various regions is projected boost the growth of the global UAV battery market.
|Regional scope||North America, Asia Pacific, Europe, Latin America, and Middle East & Africa|
|Report coverage||Company share, market analysis and size, competitive landscape, growth factors and trends, and revenue forecast|
Key Market Insights from the report:
The global UAV battery market accounted for US$ 1137.4 Million in 2020 and is estimated to be 3244.9 Million by 2029 and is anticipated to register a CAGR of 12.4%. The market report has been segmented on type, battery type, and region.
- By type, the tactical UAVs segment is projected to register the largest growth rate over the forecast period due to growing deployment of UAVs for surveillance, intelligence, and reconnaissance operations by defense forces around the globe.
- By battery type, lithium-Ion (Li-Ion) segment accounted the leading share in the global UAV battery market in 2017 due to its high use in commercial drones and are measured as the most cost-effective solution to power drones. These batteries are also utilized along with hybrid fuel cell powered drones.
- By region, North America is the most leading region in the global UAV battery market and it is projected to register high growth in the near future. This is attributed due to expanding use of UAVs/drones for military and commercial applications. Additionally, growing production and deployment of UAVs for different military applications such as surveillance, intelligence, and reconnaissance (ISR), weather analysis, and tactical warfare in the region is also boosting growth for the target market.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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