The market research report, entitled Aircraft Battery Market shows good possibilities in the Aircraft 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 Aircraft Battery Market Forecast:
The long-term outlook still seems hopeful with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market. Stratview Research’s estimates suggest that the market is likely to pick up the pace from 2021 onwards to reach an estimated value of US$ 210 million in 2026.
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The following are some of the key players in the Aircraft Battery Market:
- Saft Groupe S.A.
- Securaplane Technologies, Inc. (Meggitt)
- Concorde Battery
- GS Yuasa Corporation
COVID-19 Impact on Global Aircraft Battery Market
The COVID-19 pandemic is likely to favourably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and are promoting social distancing measures. Strict restrictions on the movement of people are further expected to negatively impact land-based casino operations.
Aircraft Battery Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Aircraft Battery and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on the battery type, the aircraft battery market is classified as nickel-cadmium battery, lithium-ion battery, and lead-acid battery. Among the different types of batteries, nickel-cadmium batteries are the most preferred ones in 2020 and are also expected to maintain their dominance in the market during the forecast period as well. Concurrently, lithium-ion batteries are likely to witness the highest growth during 2021-2026 in the wake of their preference for the latest aircraft programs.
Based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Among aircraft types, commercial aircraft held the lion’s share in 2020 and is also estimated to be the fastest-growing segment of the market during the forecast period as well. Despite several shockwaves (B737Max grounding, B787 deliveries halt, and COVID-19), B737Max, A320neo family, A350XWB, and B787 are likely to remain the major aircraft programs generating a substantial demand for batteries. The market entry of C919 and MC-21 are likely to add additional growth momentum in the years to come.
In terms of regions, North America held the largest market share for aircraft electrical batteries in 2020. This region houses a number of key market players such as Securaplane Technologies, Inc., Concorde Battery, and EnerSys. The region’s aerospace industry is currently under immense pressure in the wake of several challenges starting from B737max grounding paired with the COVID-19 outbreak. However, it is anticipated that the region’s market will mark an excellent recovery in the near future, helping the region to maintain its legacy in the global market in the foreseen future.
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.