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Aerospace Battery Market to Reach US$ 211.8 million in 2023

 


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The Global Aerospace & Defense Battery Market: Highlights The global aerospace & defense battery market is forecasted to reach US$ 211.8 million in 2023. Increasing production rates of major aircraft, such as B737, B787, A320, and A350XWB; an expected entry of upcoming aircraft, such as MRJ and C919; growing aircraft fleet size, and an advancement in technology are the key growth drivers of the global aerospace & defense battery market. Global Aerospace & Defense Battery Market - Insights by Aircraft Type Based on the aircraft type, the global Aerospace & Defense Battery Market is segmented as Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft. The narrow-body aircraft is expected to remain the largest segment of the global aerospace & defense battery market during the forecast period of 2018 to 2023.

High production rates of major aircraft (B737 and A320 family); introduction of fuel-efficient variants of major narrow-body aircraft (B737 Max and A320neo); upcoming aircraft programs, such as C919 and MC-21; and growing fleet size are the major factors driving the demand for batteries in the segment. Wide-body aircraft is projected to witness the highest growth during the same period, driven by increased deliveries of B787 and A350XWB aircraft and upcoming variants of the major aircraft, such as B777x and A330neo. Global Aerospace & Defense Battery Market by - Insights Battery Type Based on the battery type, the global aerospace & defense battery market is segmented as Nickel-Cadmium Battery, Lithium-Ion Battery, and Lead-Acid Battery.

Nickel-Cadmium is projected to remain the largest battery type in the global aerospace & defense industry during the forecast period, whereas lithium-ion is likely to be the fastest-growing battery type during the same period. All major commercial and regional aircraft rely on nickel-based batteries, whereas general aviation mainly relies on lead-acid batteries. All major aircraft manufacturers have started opting lithium-ion batteries in their next-generation aircraft, such as B787, A350XWB, and F35. Global Aerospace & Defense Battery Market by - Insights Region Asia-Pacific is projected to grow at the highest rate over the next five years, driven by China, India, and Japan. High demand for commercial aircraft to support rising passenger traffic, increasing defense spending, and upcoming commercial and regional aircraft, such as C919 and MRJ are the major growth drivers of the region. North America is expected to remain the largest market for batteries in the aerospace & defense industry during the forecast period.

The region is the manufacturing capital of commercial, regional, business jets, and military aircraft. The region also holds one of the largest commercial aircraft fleet size worldwide. The supply chain of this market comprises raw material suppliers, battery manufacturers, aircraft OEMs, distributors, and airline companies.

The key aerospace OEMs are Boeing, Airbus, Bombardier, Lockheed Martin, Embraer, ATR, and Mitsubishi Heavy Industries and key airline companies are Lufthansa, Delta Air, Air China, and Singapore Airlines. The global battery market in the aerospace & defense industry is a highly consolidated with the presence of less than a dozen player. The key battery manufacturers are Saft Groupe S.

A. , GS Yuasa Corporation, Concorde Aircraft Batteries, Securplane Technologies Inc. , and EnerSys.

New product development and long-term contracts with customers are the key strategies adopted by the major players to gain a competitive edge in the market. Source:- https://www.stratviewresearch.com/201/aerospace-and-defense-battery-market.html.

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