Aircraft Batteries Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 16, 2024 /EINPresswire.com/ -- The aircraft batteries market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated
The aircraft batteries market is projected to grow strongly, reaching $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.

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Growth Driver Of The Aircraft Batteries Market
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.

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Major Players And Market Trends
Key players in the aircraft batteries market include 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.
Technological advancements are a key trend gaining traction in the aircraft batteries market. Major companies operating in aircraft batteries are focusing on technological advancements and developing new products to strengthen their position in the market.

Segments:
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

Geographical Insights: North America Leading The Market
North America was the largest region in the aircraft batteries market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of aircraft batteries.

Aircraft Batteries Market Definition
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.

Aircraft Batteries Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aircraft Batteries Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aircraft batteries market size, aircraft batteries market drivers and trends, aircraft batteries market major players, aircraft batteries competitors' revenues, aircraft batteries market positioning, and aircraft batteries market growth across geographies. The aircraft batteries market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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