Global UAV Battery Market, By Type (Medium Altitude Long Endurance, High Altitude Long Endurance, Tactical UAVs, and Small UAVs), By Battery Type (Fuel Cell, Lithium-Ion, Lithium Polymer, and Nickel Cadmium), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030
Global UAV Battery Market accounted for US$ 1137.4 Million in 2020 and is estimated to be 3244.9 Million by 2029 and is anticipated to register a CAGR of 12.4%. Unmanned Aerial Vehicle (UAV) batteries are manufactured to support and power the UAV structure for a particular period of time which can be prolonged with the help of various batteries in UAVs. Growth in production of UAVs for deployment in the military across various regions is boosting the UAV battery market growth. UAVs do not have pilots on board and instead use a combination of technologies including computer vision, obstacle avoidance technology, and artificial intelligence to conduct various tasks. Drones are increasingly being utilized in a variety of industries, including construction, agriculture, emergency response, surveillance, and e-commerce, to conduct a variety of tasks such as mapping and imagery, package delivery, and so on. Drones can also be useful for giving information from difficult-to-reach places during natural disasters, as well as for live crop monitoring for nutrition, disease, and cost-cutting strategies.
Analyst View & COVID-19 Impact on UAV Battery Market:
COVID-19 has wreaked havoc on nearly every industry, including infrastructure, retail, manufacturing, and others. Most countries have enacted lockdowns to combat the COVID-19 epidemic, and are presently easing it in phase-by-phase and industry-by-industry. The growing demand for UAVs in healthcare applications has fueled the growth of the UAV battery market during the pandemic. Many healthcare organizations are using unmanned aerial vehicles (UAVs) to spray disinfectant in public locations and to stop the spread of COVID-19. These disinfectant-filled UAVs spray a bigger area in half the time and 50 times faster than traditional approaches. Drones are in high demand across a wide range of businesses, including construction, agriculture, emergency response, mapping, law enforcement, surveillance, and e-commerce. Drone technology has the potential to dramatically outperform traditional methods of operation. For example, delivery charges in e-commerce can be quite high, sometimes outweighing the costs of the food or merchandise ordered. Furthermore, many people may believe that the model is unsustainable in the long run. However, with the arrival of drones, the use of vehicles and reliance on manual labor can be reduced, resulting in huge prospects for UAV battery manufacturers.
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Key Highlights of UAV Battery Market:
- In February 2018, Sion Power, a global developer of lithium battery technology, declared the appointment of Dr. Jeff Britt as Vice President of operations. Britt’s duties will include overseeing the company’s and production easiness.
- In June 2019, OXIS Energy is setting up the first-ever manufacturing plant specifically for the mass production of lithium-suffer cells for the production of electrolyte and cathode active material. At the Kenfig Industrial Estate Port Talbot in Wales, the plant will be constructed.
- Ballard Sells UAV Business to Honeywell – Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) recently announced that its subsidiary in Southborough, Massachusetts has sold its Unmanned Aerial Vehicle (UAV) business assets to Honeywell International.
- LG Chem Acquires Sion Power Technology – Sion Power recently announced that LG Chem, Ltd. has been granted a licence to various Sion Power patents covering batteries, cells, separators, and electrolyte components made of boehmite through its licensee Optodot Corporation.
Key Market Insights from the report:
The Global UAV Battery Market accounted for US$ 1137.4 Million in 2020 and is estimated to be 3244.9 Million by 2029 and is anticipated to register a CAGR of 12.4%. Global UAV Battery Market has been segmented into on the basis of type, battery type, and region.
Competitive Landscape & their strategies of UAV Battery Market:
The prominent player operating in the global UAV battery market includes Ballard Power Systems, Cella Energy Limited, EaglePicher Technologies, Denchi Power Ltd., H3 Dynamics, Sion Power Corporation, OXIS Energy Ltd., Kokam, and Tadiran Batteries GmbH. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.
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Global UAV Battery Market, By Type:
- Medium Altitude Long Endurance
- High Altitude Long Endurance
- Tactical UAVs
- Small UAVs
Global UAV Battery Market, By Battery Type:
- Fuel Cell
- Lithium Polymer
- Nickel Cadmium
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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Global Automotive Battery Market By Battery Type (Lead–Acid Battery, Lithium Ion Battery, Nickel Based Battery, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles (LCVs), and Electric Vehicles), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Trends, Analysis and Forecast till 2030
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
- Bottom-Up Approach
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Opportunities
- Market Trends
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
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