Aircraft Battery Charging and Testing Market to Surpass US$ 1,120.4 Million by 2030, Says Coherent Market Insights (CMI)
Burlingame, April 11, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Aircraft Battery Charging and Testing Market is estimated to be valued at US$ 652.57 million in 2021 and is expected to exhibit a CAGR of 7.7% during the forecast period (2023-2030).
Analysts' Views on Global Aircraft Battery Charging and Testing Market:
Global Aircraft Battery Charging and Testing Market's growth is expected to increase during the forecast period, due to an increase in air travel and increasing manufacturing of new aircraft. The aircraft batteries are very crucial to regulate the DC voltage of the aircraft. This guarantees that the electrical and electronic equipment receives stable power. As a result, the batteries must be of exceptional quality and maintained, so that they are always in perfect working condition. For instance, in September 2021, Teledyne Instruments Inc., a design and manufacturer of gas and liquid analyzers, doing business as Teledyne Webb Research, a subsidiary of a Teledyne Instruments Inc., has given a contract of US$16,500,000 for a lithium battery kit that will power the Littoral Battlespace Sensing-Gliders.
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Global Aircraft Battery Charging and Testing Market- Driver
Increasing demand for defence equipments
The demand for aeroplanes is rapidly rising in both, the commercial and civic sectors for a variety of uses. The market for testing and charging aircraft batteries is also being driven by the use of unmanned aerial vehicles (UAVs) for commercial, civil, and military uses. UAVs are employed for investigation and monitoring in the military, and they can be utilized commercially to transport goods for logistics. As UAV applications become more prevalent and are in great demand, the demand for aircraft batteries is also rising. Because of the costs of those batteries, repairing and maintaining the old batteries is economical rather than buying new batteries. For instance, In June 2020, Duncan Aviation, a privately owned Jet Maintainance, Repair and Overhaul (MRO) service provider in the U.S., extended their sales and service contract with Meggit PLC, a British company, specializing in sub-systems for the defence, aerospace and selected energy markets by 3 more years, which has been going on since 2005.
Global Aircraft Battery Charging and Testing Market- Restraint
Difficuties in handling charging and maintainance operations of batteries
Aircraft battery manufacturers face a number of difficulties including setup and system complexity, lengthy testing periods, adherence to evolving safety regulations. Moreover, due to complicated systems and dangerous materials used in batteries, battery testing has turned into a difficult and drawn-out process. Batteries can explode due to their high currents, toxic compounds, and high voltages. For instance, the majority of battery manufacturers do life cycle tests, which can take up to six months or longer. It takes a lot of time because separate tests are needed for each application. For instance on March 7, 2023, according to a report published by Federal Aviation Administration, which is a part of the U.S. department of Transportation, that there has been 433 verified accidents occurred between March 3, 2006 to March 7, 2023 among those incidents 185 accidents were caused by the Battery packs or Batteries. The incidents casued by these lithium batteries involved smoke, fire or extreme heat. To avoid these kinds of incidents the Indian government has also taken a safty measures like testing of the batteries in two phases, one is the electric abuse test, this test comprises the overcharge of the battery cell. The second test is mechanical abuse of a battery pack which includes vibration and mechanical shock test.
Aircraft Battery Charging and Testing Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2021: | US$ 652.57 Mn | |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 7.7% | 2030 Value Projection: | US$ 1120.40 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | ATEQ AVIATION, Blue Skies Aviation, DUNCAN AVIATION INC., Saft, ARBIN INSTRUMENTS, Concorde Battery Corporation, Enersys, The Boeing Company, GS Yuasa Corporation, Securaplane Technologies, Inc. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Aircraft Battery Charging and Testing Market- Opportunity
Opportunity for the Lithium Ion batteries to grow in the market
Lithium-Ion batteries have advantages over the other types of batteries such as Nickel Cadmium and Lead Acid batteries. The Lithium-ion batteries can be used in low volume as this are light weight, which then can be used in RPAS (Remotely Piloted Aircraft Systems) as this systems are compact and has no pilot and has to be as small as possible with similar functions as the real commercial aircrafts. These kind of aircrafts have different applications such as surveillance, which includes UAVs (Unmanned Aerial Vehicle). However, these batteries are much more expensive than the other batteries and has safety hazards such as these battery have high energy densities with flammable electrolyte, which are the main contents that makes them unsafe. For instance, in April 2021, KULR Technology Group Inc., a thermal management solutions provider, launched a new high capacity lithium battery line, which will serve the commercial drone market, which totals around US$ 127 billion . For instance in November 2022, according to news from Newsnation, a U.S.-based cable news network, NASA has completed the development of their X-57 all electric aircraft and ready for the test this aircraft includes 400 pound lithium ion battery packs in the cabin of the aircraft, which indeed is the most important energy source for the motor of the aircraft.
Global Aircraft Battery Charging and Testing Market Cross Sectional Analysis:
Among Battery Type, the Lithium-ion battery segment is expected to be dominant during the forecast period in North America region due to the growing usage of unmanned aerial vehicle (UAVs) for military tasks and responsibilities, such as object inspection, is driving the growth of the North America market. Asia Pacific is anticipated to have the highest CAGR throughout the projection period due to its expanding development rate. The need to conserve land in nations such as China and India, as well as the rising demand for new aircraft for both general aviation and commercial use, are driving the regional market to expand. For instance, in July 2021, Boeing HorizonX Ventures, a venture capital firm of a Boeing Airlines, has invested in the Battery manufacturer Cuberg, which is a U.S-based startup that has been engaged in developing a high density Lithium-ion battery pack, which will indirectly help the Boeing Airlines to launch their first electric aircraft.
Global Aircraft Battery Charging and Testing Market Segmentation:
The Global Aircraft Battery Charging and Testing Market report is segmented into Aircraft Type, Battery Type, Battery Charging Type, Battery Testing Type and Region.
Based on Aircraft Type, the market is segmented into Commercial Aircraft, and Private Aircraft. Out of which, Commercial Aircraft segment is expected to dominate the Aircraft Battery Charging and Testing Market.
Based on Battery Type, Global Aircraft Battery Charging and Testing Market is segmented into Nickel Cadmium battery, Lead Acid battery, and Lithium-ion battery. The Lithium-ion battery is expected to dominate the market over the forecast period and this is attributed to the development in electric aircrafts.
Based on Battery Charging Type, Global Aircraft Battery Charging and Testing Market is segmented into Constant Voltage Charging (CP) and Constant Current Charging. Constant Current Charging is expected to dominate the market over the forecast period.
Based on Battery Testing Type, Global Aircraft Battery Charging and Testing Market is segmented into Capacity Test and Charge Acceptance Test. Capacity Test is expected to dominate the market over the forecast period.
Based on Region, Global Aircraft Battery Charging and Testing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market over the forecast period.
Global Aircraft Battery Charging and Testing Market: Key Developments
Increasing research and development activities and product launch by key players in the market is expected to generate new opportunities in the Global Aircraft Battery Charging and Testing Market during the forecast period (2023-2030).
In November 2022, United Airline, an U.S. based airline, which is headquartered in Chicago, U.S., announced that the company is purchasing the part of Natron as a equity investment. Natron is a battery manufacturer who is going to help the United Airline in making their ground equipments electronic.
On February 10, 2023, Mobius Energy, a high end battery solutions provider for the electric aircrafts based in U.S., announced their collaboration with Dust Identity an authentication and digital thread solutions platform for physical objects. Their collaboration is to ensure to trace a life of a battery so that it can be reused after and also to know the end life recovery.
In November 2021, GS Yuasa Corporation, a battery manufacturing company announced that their subsidiary, GS Yusa International Ltd., confirmed that they have done the testing of their 400Wh/kg-class lithium-sulfur battery. It was the primary goal of Yusa Internation Ltd. in their Research and Development work on the light weight aircraft storage batteries. The company is doing this Research and Development program for their Next-Generation Electrical Propulsion Systems component of the ‘Research and Development Project for Advanced Aircraft Systems toward Practical Application' of the New Energy and Industrial Technology Development Organization (NEDO).
In November 2021, Concorde Battery Corporation, a lead acid battery manufacturer, developed a heated battery in order for their batteries to perform in the cold weather. Cold weather increases the resistance of a battery, and in result, it decreases the battery capacity, which reduces the battery's capability to accept current that charges the battery.
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Key Market Takeaways:
North America held a dominant position in the global aircraft battery charging and testing market. The region's substantial governmental and corporate investment is also anticipated to support the expansion of the electronics sector.
Asia Pacific is the second contributor to the battery testing equipment market. The need for various solutions is increasing due to the expanding automobile industry and the relocation of the majority of manufacturing facilities to the Asian continent. Driving forces behind this expansion include the rising popularity of electric vehicles in nations such as China and India. According to Economic Times, in February 2022, Indian government is investing US$ 34 million under Production Linked Incentive (PLI) scheme in electronics sector, by 2025. Due the growth of the consumer electronics industry and the existence of major manufacturers of battery testing equipment, there is an expansion in the regional market.
Furthermore, according to Coherent Market Insights, 2022, the battery testing equipment market in Europe is expected to witness steady growth owing to the region's advanced medical sector and digital communications. Germany and France have the major market share in this region.
Competitive Landscape:
Major players operating in the global aircraft battery charging and testing market include ATEQ AVIATION, Blue Skies Aviation, DUNCAN AVIATION INC., Saft, ARBIN INSTRUMENTS, Concorde Battery Corporation, Enersys, The Boeing Company, GS Yuasa Corporation, Securaplane Technologies, Inc., and Others.
Market Segmentation:
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Global Aircraft Battery Charging and Testing Market , By Aircraft Type:
- Commercial Aircraft
- Private Aircraft
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Global Aircraft Battery Charging and Testing Market , By Battery Type:
- Nickel Cadmium Battery
- Lead Acid Battery
- Lithium-ion Battery
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Global Aircraft Battery Charging and Testing Market , By Battery Charging Type:
- Constant Voltage Charging
- Constant Current Charging
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Global Aircraft Battery Charging and Testing Market , By Battery Testing Type:
- Capacity Test
- Charge Acceptance Test
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Global Aircraft Battery Charging and Testing Market , By Region:
- North America
- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
- Europe
- By Country:
- Germany
- Italy
- U.K.
- France
- Russia
- Rest of Europe
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country/Region:
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- By Country/Region:
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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