DETROIT, March 12, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Aircraft Battery Market by Platform Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by Battery Type (Nickel-Cadmium Battery, Lithium-Ion Battery, and Lead-Acid Battery), by Sales Channel Type (Direct Sales and Distributor Sales), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026.
This report, from Stratview Research, studies the aircraft battery market over the trend period of 2015 to 2020 and the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as formulate growth strategies.
Aircraft Battery Market: Highlights
In the aircraft industry, batteries are used mainly for power backup & emergency systems, starting the engines and auxiliary power units, and flight preparation. They play a very crucial role as they supply power to the aircraft in case of power failure. Batteries in an aircraft must be reliable, durable, low maintenance, low weight, have low cost of ownership, and have an extended life. The industry is witnessing a gradual transition from lead-acid batteries to nickel-cadmium batteries to lithium-ion batteries.
With unending orders and booming demand, the aerospace industry exhibited an uphill trajectory until 2019. The market underwent a minimal impact of B737MAX grounding, only the North American demand suffered a minor downturn in 2019. However, this flourishing industry could not escape from the pandemic in 2020. What initially seemed like a viable hitch, lately has metamorphosed into an obstruction for survival for many stakeholders across industries.
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 pace from 2021 onwards to reach an estimated value of US$ 198.2 million in 2026.
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Based on the platform type, narrow-body aircraft is expected to maintain its unquestionable dominance till 2026. The aircraft segment is expected to fuel the market in the long-term, logging the fastest recovery, owing to strong order backlogs of 10,403 (Airbus: 6,372 and Boeing: 4,031) aircraft as of December 2020. The UAV and the military aircraft segments remained relatively unflinching. Early signs of healing are discernible with the lift of FAA's B737max grounding order (Nov. 2020) and Airbus' highest delivery figures (Oct. 2020) since before the onset of the pandemic.
Based on the battery type, Nickel-Cadmium battery is likely to hold the throne in the market till 2026, whereas lithium-ion battery is expected to grow at the fastest rate over the next five years. The shifting paradigm in the aerospace industry with the preference of key stakeholders is gradually transitioning from lead-acid to nickel-cadmium to lithium-ion batteries.
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All regions took a nosedive in 2020. Despite the downturn, North America is projected to remain the largest market during the forecast period owing to the region's predilection towards new technology adoption and implementation. However, Asia-Pacific is anticipated to log the quickest recovery in the market during the forecast period. Upcoming commercial aircraft program, C919, opening of assembly plants in China by Boeing and Airbus, and an ongoing shift in assembly plants of OEMs in the region from North America and Europe are likely to create a healthy long-term demand for aircraft batteries in the region.
The supply chain of this market comprises raw material suppliers, aircraft battery manufacturers, distributors, OEMs, and MRO companies. Key aircraft battery manufacturers include Saft Groupe S.A., GS Yuasa Corporation, Concorde Battery Corporation, and Securaplane Technologies, Inc. Formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players to gain a competitive edge in the market. The prevalent COVID-19 crisis has pushed leading players to realign their strategies to adapt to the need of the hour.
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 on 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
This report studies the global aircraft battery market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Aircraft Battery Market, by Platform Type
- Narrow-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Very Large Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Battery Market, by Battery Type
- Nickel-Cadmium Battery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Lithium-Ion Battery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Lead-Acid Battery (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Battery Market, by Sales Channel Type
- Direct Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Distributor Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Battery Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
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