What is Commercial Aircraft Battery Market?
The global commercial aircraft battery market is expected to grow at a sluggish rate during the forecast period, according to the AMA study. This is owing to the current aviation industry crisis due to the coronavirus pandemic across the world. The aviation industry is expected to witness reduction in revenue of approximately USD 63-113 billion in 2020. In addition, the rising production of commercial aircraft and rising global commercial aircraft fleet were expected to be the major drivers of this since during the past few years whereas the aircraft production and deliveries are expected to be delayed during the forecast period due to COVID-19 impact on the aviation industry which has led the industry into a crisis zone.
The market study is being classified by Type (Nickel Cadmium, Lithium-Ion and Others), by Application (Auxiliary Batteries, Backup Batteries, Emergency Lighting Batteries, Engine Start Batteries and Others) and major geographies with country level break-up.
EaglePicher Technologies (United States), ENERSYS (United States), GS Yuasa International Ltd. (Japan), Kokam (South Korea), Marvel Aero International, Inc. (United States), MarathonNorco Aerospace (United States), Mid-Continent Instrument Co., Inc. (United States), Saft (France), Sichuan Changhong Battery Co., Ltd. (China) and Teledyne Technologies Incorporated (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing and innovating new battery solutions to cater to the industry demands in order to remain competitive in the global market. The aircraft OEMs are also focusing on the electrification of aircraft to reduce carbon emissions. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Commercial Aircraft Battery market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Commercial Aircraft Battery market by Type, Application and Region.
On the basis of geography, the market of Commercial Aircraft Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Global Aircraft Production & Fleet
- Growing Demand for Electrification of Commercial Aircraft
Market Trend
- Introduction of Electric and Hybrid Electric Aircraft
Restraints
- Negative Impact of COVID-19 Pandemic in the Aviation Industry is one of the Biggest Restraints of Commercial Aircraft Batteries Market as the Market for Commercial Aircraft and Supporting Aviation Component Markets have been Come Under Uncertain Risk Due to Economical Crisis in the Industry
Opportunities
- Impact on Expected Production of more than 38,000 Commercial Aircraft During the Next 20 years
- Growing Adoption of Hydrogen Fuel Cells to Reduce Carbon Emissions
Challenges
- Challenges in Electrifying of Currently Operating Fleet of Commercial Aircraft
Market Leaders and some development strategies
In September 2019, Airbus announced that it has opened a new facility in Shenzhen, China for the development of aircraft batteries in order to support its OEM facility of China
In February 2018, Kokam announced that it has been awarded a contract worth USD 1 million to provide batteries for Eviation's all-electric Alice passenger aircraft
Stringent Regulations from Different Governments to Suspend the Scheduled Airline Flights for the Next Few Months to Avoid the Spread of COVID-19
Analyst Comment
The commercial aviation industry accounts for approximately 2% of the global carbon emissions which is very less in terms of share but in terms of volume it becomes higher. Moreover, the airlines are also adopting electric aircraft for their future use. However, the recent economic crisis in the industry has led many forecasted factors to be changed accordingly wherein the global commercial aircraft battery is one of the major markets which have been impacted heavily due to industry’s crisis.
Key Target Audience
Aircraft OEMs Manufacturers, Battery Manufacturers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations