Stratview Research publishes a new report titled Aerospace Battery Market which is segmented by Aircraft Type(Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, General Aviation, Helicopters, 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). (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The aerospace battery marketis likely to grow at aCAGR of 9.6%eventually reachingUS$ 0.30 Billion in 2027. The ongoing supply chain disruption of lithium-ion batteries remains a concern for industry stakeholders. The aerospace industry is no exception and witnessing an increase in the price of batteries.

Batteries are primarily utilized in the aerospace industry for flight preparation, starting the engine and auxiliary power units, and powering backup and emergency systems. They are critical because they provide power to the aircraft in the event of a power outage. Batteries in the aircraft must be dependable, strong, lightweight, and durable, as well as low-maintenance and low-cost-of-ownership. Lead-acid batteries are gradually giving way to nickel-cadmium batteries and then lithium-ion batteries in the industry.

The aerospace industry grew in 2019 as a result of an endless supply of orders and rising demand. Only theNorth American demand experienced a slight declinein 2019 due tothe grounding of the B737MAX program. The devouring pandemic in 2020, on the other hand, proved too much for this thriving industry to handle. What appeared to be a manageable challenge became a barrier to survival for many stakeholders across industries.Aerospace Battery, a sizeable market, could not escape from such trends and witnessed a colossal decline (-33%+ in 2020).The long-term outlook still seems sanguine with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market.

Global Aerospace Battery Market Report Segments:

Based on the aircraft type, the aerospace battery market is segmented into narrow-body aircraft, wide-body aircraft, regional aircraft, general aviation, helicopters, military aircraft, and UAVs.The undisputed dominance of narrow-body aircraft is expected to last during the forecast period as well.Long-term market growth will be driven by narrow-body aircraft, propelled by huge order backlogs of key programs (B737 including Max: 4,185, A320 Family: 6,148; COMAC C919: 800+, and Irkut MC21: 175) (till 31st August 2022).

Based on the battery type, the market is segmented into nickel-cadmium batteries, lithium-ion batteries, and lead-acid batteries.The lithium-ion battery is likely to register the fastest growth over the next five years, whereas the nickel-cadmium battery is expected to continue to command the market during the same period.The aircraft industry is gradually transitioning away from lead-acid batteries to nickel-cadmium and lithium-ion batteries, with the support of key stakeholders. New-generation aircraft programs are more relying on lithium-ion batteries.

In terms of regions,North America is expected to maintain its position as the largest region in the market during the forecast perioddue to the region's proclivity for adopting and implementing modern technologies.Asia-Pacific is expected to have the fastest market recovery during the same period. The C919 commercial aircraft program, the opening of Boeing and Airbus assembly facilities in China, and the continued relocation of OEM assembly facilities from North America and Europe to the region are expected to generate a healthy long-term demand for aerospace batteries in the region.

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