Military Aircraft Battery Market by Type and Geography - Forecast and Analysis 2020-2024

The military aircraft battery market size has the potential to grow by USD 34.77 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by type (lithium-based batteries, nickel-based batteries, and lead-acid batteries) and geography (North America, APAC, Europe, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Concorde Battery Corp., EaglePicher Technologies LLC, EnerSys, GS Yuasa Corp., HBL Power Systems Ltd., Meggitt Plc, Sion Power Corp., TADIRAN BATTERIES Ltd., Teledyne Technologies Inc., and Total SA.

Market Overview

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Market Competitive Analysis

The market is concentrated and is highly competitive. It is crucial for the vendors to provide cost-effective and high-quality aircraft batteries to survive and succeed in an intensely competitive market environment. Also, vendors are dependent on market conditions, government support, and industry development for the growth of the market. Concorde Battery Corp., EaglePicher Technologies LLC, and EnerSys are some of the major market participants. Although the increase in the use of Li-ion batteries will offer immense growth opportunities, the competition from fuel cells will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this military aircraft battery market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this military aircraft battery market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Concorde Battery Corp.
• EaglePicher Technologies LLC
• EnerSys
• GS Yuasa Corp.
• HBL Power Systems Ltd.
• Meggitt Plc
• Sion Power Corp.
• TADIRAN BATTERIES Ltd.
• Teledyne Technologies Inc.
• Total SA

Military Aircraft Battery Market: Segmentation by Geography

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North America was the largest military aircraft battery market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as high investment in procurement, sustainment and modernization, and R&D programs for advanced aircraft by the US Department of Defense (DoD) will significantly drive military aircraft battery market growth in this region over the forecast period.

42% of the market's growth will originate from North America during the forecast period. The US is a key market for military aircraft batteries in North America. Market growth in this region will be faster than the growth of the market in other regions.

Military Aircraft Battery Market: Segmentation by Type

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Prime defense contractors are testing the scope of use of lithium-based batteries in military aircraft. Lithium-based batteries are low-maintenance batteries that do not need to be completely recharged; this is an advantage that lithium-based batteries have over most other batteries. 

Therefore, the military aircraft battery market share growth by the lithium-based batteries segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the military aircraft battery market size.

Military Aircraft Battery Market: Key Drivers and Trends

According to Technavio's global military aircraft battery industry research report, the market is expected to steadily at a CAGR of more than 3% by 2024. Li-ion batteries are highly-efficient rechargeable batteries that provide efficient use in portable devices that have less memory effect and high energy density. These batteries are the major source for backup power in the forward electrical equipment bay and the auxiliary power units (APU). In addition to supporting refueling operations and enabling power braking systems, these batteries also support critical electrical power equipment. As a result, the coming years will record a significant increase in the use of Li-ion batteries, which will have a positive impact on the military aircraft battery market growth.

This market research report identifies the growing demand for more electric aircraft (MEA) as one of the key military aircraft battery market trends. The demand for MEA is increasing due to the changes in industry dynamics in favor of fuel-efficient aircraft. The designs for MEA will be impacted by innovations in battery designs and further innovations in electric motors. Reducing the weight and size of electromagnetic interference filters will proportionately influence the success of MEA by implementing the wideband gap devices that feature high operating temperature, low losses, and high switching efficiency. Innovations toward improving the efficiency and performance of MEA will augment the military aircraft battery market demand in the coming years.

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Military Aircraft Battery Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive military aircraft battery market growth during the next five years
• Precise estimation of the military aircraft battery market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the military aircraft battery industry across North America, APAC, Europe, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of military aircraft battery market vendors

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