Aerospace Battery Market: In-depth Analysis, Demand Statistics & Competitive Outlook 2022-27

The market research report, entitled Aerospace Battery Market shows good possibilities in the Aerospace Battery Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges, and key players in the market.
Global Aerospace Battery Market Forecast:
The aerospace battery market is likely to rebound at a promising CAGR of 9.6% eventually reaching US$ 0.30 Billion in 2027. The ongoing supply chain disruption of lithium-ion batteries remains a concern for industry stakeholders. The aerospace industry is no exception and witnessing an increase in the price of batteries.
Market Highlights
Batteries are primarily utilized in the aerospace industry for flight preparation, starting the engine and auxiliary power units, and powering backup and emergency systems. They are critical because they provide power to the aircraft in the event of a power outage. Batteries in the aircraft must be dependable, strong, lightweight, and durable, as well as low-maintenance and low-cost-of-ownership. Lead-acid batteries are gradually giving way to nickel-cadmium batteries and then lithium-ion batteries in the industry.
The aerospace industry grew in 2019 as a result of an endless supply of orders and rising demand. Only the North American demand experienced a slight decline in 2019 due to the grounding of the B737MAX program. The devouring pandemic in 2020, on the other hand, proved too much for this thriving industry to handle. What appeared to be a manageable challenge became a barrier to survival for many stakeholders across industries. Aerospace Battery, a sizeable market, could not escape from such trends and witnessed a colossal decline (-33%+ in 2020). The long-term outlook still seems sanguine with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market.
Key Players
The following are some of the key players in the Aerospace Battery Market:
• Saft Groupe S.A.
• Securaplane Technologies, Inc.
• EnerSys
• GS Yuasa Corporation
• Concorde Battery Corporation.
Aerospace Battery Market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different driving factors and identify the most attractive segments and sub-segments. Aerospace Battery and other resources also allow companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the aircraft type, the aerospace battery market is segmented into narrow-body aircraft, wide-body aircraft, regional aircraft, general aviation, helicopters, military aircraft, and UAVs. The undisputed dominance of narrow-body aircraft is expected to last during the forecast period as well. Long-term market growth will be driven by narrow-body aircraft, propelled by huge order backlogs of key programs (B737 including Max: 4,185, A320 Family: 6,148; COMAC C919: 800+, and Irkut MC21: 175) (till 31st August 2022).
Based on the battery type, the market is segmented into nickel-cadmium batteries, lithium-ion batteries, and lead-acid batteries. The lithium-ion battery is likely to register the fastest growth over the next five years, whereas the nickel-cadmium battery is expected to continue to command the market during the same period. The aircraft industry is gradually transitioning away from lead-acid batteries to nickel-cadmium and lithium-ion batteries, with the support of key stakeholders. New-generation aircraft programs are more relying on lithium-ion batteries.
In terms of regions, North America is expected to maintain its position as the largest region in the market during the forecast period due to the region's proclivity for adopting and implementing modern technologies. Asia-Pacific is expected to have the fastest market recovery during the same period. The C919 commercial aircraft program, the opening of Boeing and Airbus’ assembly facilities in China, and the continued relocation of OEM assembly facilities from North America and Europe to the region are expected to generate a healthy long-term demand for aerospace batteries in the region.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
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