Aircraft Batteries Market Expected to Reach $118.4 Billion by 2028

Overview and Scope
Aircraft batteries refer to preflight batteries that assist in starting the engines and/or auxiliary power unit as well as the electrical system. They are used to provide power for ground operations and start up the APU.

Sizing and Forecast
The aircraft batteries market size has grown strongly in recent years. It will grow from $0.7 billion in 2023 to $0.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to the rise in air travel, increase in demand for hybrid and electric propulsion aircraft, increasing military spending and increasing emissions from aviation.

The aircraft batteries market size is expected to see strong growth in the next few years. It will grow to $1.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to passenger air traffic, growing demand for new fighter jets in developing countries and increasing focus on reducing emissions. Major trends in the forecast period include high voltage batteries, development of ultra-low maintenance batteries, focusing on technological advancements and developing new products, focusing on partnerships and collaborations and using lithium-ion batteries.

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Segmentation & Regional Insights
The aircraft batteries market covered in this report is segmented –
1) By Type: NIMH (Nickel Metal Hydride), Nickel Cadmium (Nicd), Lithium – Ion, Other Battery Types
2) By Technology: Traditional, More Electric, Hybrid Electric, Fully Electric
3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility

North America was the largest region in the aircraft batteries market in 2023. The regions covered in the aircraft batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise in air travel across the globe propelled the growth of the aircraft batteries market going forward. The movement of passengers and cargo by any conveyance capable of sustained controlled flight is referred to as air travel. The growth in air passenger traffic contributes to the demand for aircraft batteries. For instance, in May 2022, according to a report published by the International Civil Aviation Organization, a Canada-based specialized agency of the United Nations, between January and April 2022, there were 65% more air travelers than in 2021, and there were 30% more aircraft departures. Therefore, the rise in air travel across the globe is driving the aircraft batteries market.

Key Industry Players
Major companies operating in the aircraft batteries market report are TotalEnergies SE, Eaglepicher, Teledyne Technologies Inc, HBL Power Systems Ltd, GS Yuasa,Enersys, Concorde Battery Corporation, Sion Power Corp, Mid-Continent Instruments and Avionics, Sichuan Changhong Battery Co. Ltd, High Energy Batteries Limited, Leoch International Technology Limited, Altech Batteries, China Aviation Lithium Battery Co. Ltd., Shenzhen Battery Building Industry Co. ltd., Shenzhen Resky Electronics Co. Ltd., Shenzhen Youliyuan Battery Technology Co. Ltd., Electroflight, Powervamp Ltd, Transair Flight Equipment, Custom Cells Itzehoe GmbH, Saft Company, Zavod AIT LLC, Wamtechnik Sp. z o.o, Industrias Tudor Sp De Bateriais Ltda, Acumuladores Moura S.A, Middle East Battery Company, Exide Industries Ltd, First National Battery, Monbat Batteries Plc, Öhlins, Fras-le S.A

The aircraft batteries market report table of contents includes:
1. Executive Summary
2. Aircraft Batteries Market Characteristics
3. Aircraft Batteries Market Trends And Strategies
4. Aircraft Batteries Market - Macro Economic Scenario
5. Global Aircraft Batteries Market Size and Growth
…..
32. Global Aircraft Batteries Market Competitive Benchmarking
33. Global Aircraft Batteries Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aircraft Batteries Market
35. Aircraft Batteries Market Future Outlook and Potential Analysis
36. Appendix