Market Size of Aircraft Battery Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.78 Billion |
| Market Size (2029) | USD 1.09 Billion |
| CAGR (2024 - 2029) | 6.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Battery Market Analysis
The Aircraft Battery Market size is estimated at USD 0.78 billion in 2024, and is expected to reach USD 1.09 billion by 2029, growing at a CAGR of 6.91% during the forecast period (2024-2029).
In a modern aircraft, a battery acts as an inevitable part as it is used for various applications on board aircraft, such as starting auxiliary/standby power unit, engine cranking, canopy opening, emergency power, flight control backup, or a combination of the above. The demand for aircraft batteries in the commercial aviation sector is driven by the rising air passenger, which, in turn, drives airlines to procure new aircraft that use different types of aircraft batteries.
In the general aviation sector, the demand for helicopters and business jets to transport medical supplies, cargo, VIPs, and charter operations experienced a significant rise, supporting the growth of the market. In the military aircraft segment, factors such as increasing geopolitical tensions and aircraft modernization programs by various countries to bolster their security are driving the market demand.
The shift toward more electric architecture, including several electrical systems used in aircraft, requires high energy storage capacity and longevity, which further generates opportunities for advancement and innovation in aircraft batteries. However, factors such as the operational risk from lithium-based batteries, government rules and regulations, risk hazards, and the high initial cost of raw aircraft technologies are expected to hinder the aircraft battery market growth.
Despite this challenge, an increase in demand for unmanned vehicles in the civil and commercial sectors for various applications is also driving market growth. UAVs are also used in the military sectors for surveillance and combat applications. Overall, the growing use of UAVs for military, civil, and commercial applications is expected to accelerate the aircraft battery market growth during the forecast period.
