Covid-19 Impact on Aircraft Battery Market to See Strong Expansion Through 2026
May 31, 2022
A report on the Aircraft Battery Market has been recently published by Stratview Research. This Market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Aircraft Battery Market. The historic years considered for the study are 2015-2020 the base year is 2021, and the forecast period is 2021-2026.
The study includes an in-depth analysis of type, application, and regional segments. It also includes a Market channel, distribution, and customer analysis, industry cost analysis, Market analysis by application, production, revenue, and price trend analysis by type, production and consumption analysis by region, and various other Market studies.
Market Analysis
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 Aircraft Battery Market is likely to pick up the pace from 2021 onwards to reach an estimated value of US$ 210 million in 2026.
The Market is segmented by Battery Type (Nickel-Cadmium Battery, Lithium-Ion Battery, and Lead-Acid Battery), by Sales Channel Type (Direct Sales and Indirect Sales), by Aircraft Type (Commercial Aircraft [Wide-Body Aircraft and Narrow-Body Aircraft]), Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This report also focuses on the short- and long-term implications of the novel Coronavirus pandemic on Aircraft Battery Market at the global, and regional dimensions. To evaluate the percentage of loss or profit to the industry, the report also compares pre-COVID and post-COVID scenarios.
Report Features
The report delivers a detailed view of the industry based on Aircraft Battery Market size, Market growth, and opportunities. The report also analyses Market key aspects such as-
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Covid-19 Impact analysis.
- Market environment analysis: Growth drivers and constraints, and SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive Market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
The research provides in-depth analysis of the important elements that drive Market growth, including growth potential, opportunities, current Market trends, industry-specific obstacles, and dangers.
Key Segments Aircraft Battery Market Report Covers:
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.
Asia-Pacific, a sizeable market, is likely to offer the highest growth opportunities to the market participants in the coming five years, driven by a multitude of factors including greater production of commercial aircraft, higher involvement of Asian companies in the aircraft part manufacturing, and higher inclination of Asian countries to become self-sufficient in the aerospace industry.
According to the report, brands or companies that are leading globally in this Market are –
- Saft Groupe S.A.
- Securaplane Technologies, Inc. (Meggitt)
- Concorde Battery
- GS Yuasa Corporation
- ENERSYS
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