Global UAV Battery Market is Anticipated to Attain a CAGR of 17.46% by 2028

 

Triton Market Research presents the Global UAV Battery Market report sanctioned by Product Type (Nickel-Based Battery, Lithium-Based Battery, Fuel Cell), UAV Model (Fixed-Wing VTOL (Hybrid), Fixed-Wing, Rotary-Wing), Industry Vertical (Commercial, Defense, Government, & Law Enforcement, Consumer), and Regional Outlook (Europe, Middle East and Africa, Asia-Pacific, Latin America, North America).

The report also discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Key Impact Analysis, Market Attractiveness Index, Vendor Scorecard, Industry Components, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

According to Triton’s research report, the global UAV battery market is set to witness growth at a CAGR of 17.46% during the forecast period 2022-2028.

 


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Over the years, the demand for UAVs for multiple applications has soared significantly, including commercial, recreational, and public. This has increased the deployment of batteries, fuel cells, and solar power.

Factors such as developments in smart battery technology, ongoing R&D in UAVs, and rising demand for long-range UAVs are driving the studied market’s growth. The current technology assists drones in flying for 35 to 40 minutes. This has made maintenance and storage of batteries an essential component for drone operations. In this regard, the use of smart batteries automatically helps adjust the internal voltage.

However, issues due to thermal runaway and regulations against the transport of UAV batteries are restricting the UAV battery market’s development.

The Asia-Pacific is deemed to observe the fastest growth during the forecast period. The region’s robust growth can be attributed to the growing demand for UAVs for numerous applications, such as deliveries, agriculture, entertainment, and logistics. Additionally, the increasing advancements in battery technology have fuelled the adoption of long-range and extended battery packs. Thus, as mentioned above, these factors are widening the scope and growth of the UAV battery market.

The major companies in the UAV battery market include RRC Power Solutions, Doosan Corporation, Plug Power, Sion Power, Inventus Power, Intelligent Energy, Eagle Picher Technologies, Epsilor, HES Energy Systems, and Shenzhen Grepow Battery.

The market is cost-intensive, making suppliers benefit from brand equity. Additionally, players are required to invest heavily in R&D due to the complexity of the battery technology. Since clients have specific needs, the sector does not offer quick profits and prioritizes brand loyalty. This makes the threat of new entrants moderate. Further, existing players are competing based on components, service time, and affordability.

 

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