Drone Battery Market to Cross USD 20.81 Billion in 2030 due to Demand for Drone Batteries that are Environmentally Friendly and Offer Longer Flight Times | By SNS Insider
Based on SNS Insider analysis, with the increasing use of drones for various applications such as aerial photography, surveillance, inspection, and delivery, the demand for drone batteries is also on the rise
Pune, April 03, 2023 (GLOBE NEWSWIRE) -- The SNS Insider reports that “The Drone Battery Market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 20.45% from 2022 to 2030, increasing from USD 4.69 billion in 2022 to USD 20.81 billion in 2030”.
Drone batteries are a critical component of any drone, and their role cannot be overstated. A reliable and high-quality battery is essential for ensuring the safe and optimal operation of a drone. A high-quality battery with a larger capacity can provide longer flight times and better stability, while a low-quality battery with a smaller capacity can lead to shorter flight times and less stable flights.
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Drone Battery Market Report Scope
Report Attributes | Details |
Market Size in 2022 | US$ 4.69 Billion |
Market Size by 2030 | US$ 20.81 Billion |
CAGR From 2023 to 2030 | 20.45% |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Key Segments | • By Technology (Lithium-Based, Nickel Based, Fuel Cell) |
Market Analysis
The use of drones has revolutionized many industries, from agriculture and construction to military and law enforcement. With the increased adoption of these unmanned aerial vehicles for both commercial and defense purposes, the demand for high-quality drone batteries has grown significantly. The growth of the drone battery market is expected to continue as the adoption of drones for commercial and defense applications increases. This trend will create new opportunities for battery manufacturers, as they work to develop and refine the next generation of drone batteries that will power the drones of the future.
Impact of Russia-Ukraine Conflict
The Russia-Ukraine conflict has had a significant impact on the drone battery market. The conflict has created a sense of urgency among manufacturers and defense agencies to acquire more advanced drone technology. As a result, the demand for drone batteries and their accessories has risen sharply, leading to significant growth in the market.
Key Regional Development
North America, with its robust aerospace industry and advanced technological infrastructure, is in a prime position to lead the drone battery market. The region is home to several established drone manufacturers and startups, all working towards developing innovative solutions to meet the increasing demand for efficient drone batteries. Furthermore, the growing adoption of drones across various industries, including agriculture, logistics, and surveillance, is driving the demand for high-quality drone batteries.
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Key Takeaway from Drone Battery Market Study
The military sector is expected to be a significant segment that drives high revenues in the market. The need for advanced, reliable, and long-lasting batteries for military drones is expected to fuel the demand for drone batteries, creating significant growth opportunities in this market segment.
The passenger drone segment has shown remarkable growth, and experts predict that it will dominate the market in the near future. The use of these drones is not limited to personal transportation, but they also have potential applications in fields such as emergency services, military operations, and delivery services.
Recent Developments Related to Drone Battery Market
DJI, a renowned name in the drone industry, has come up with a new innovation that is set to change the way pilots fly their drones. DJI's Goggles Integra is a next-generation device that integrates a battery for improved ergonomics and convenience. Traditionally, drone pilots had to carry their drone goggles and a separate battery pack, making it cumbersome and inconvenient to use. With the DJI Goggles Integra, this issue has been resolved, as the device now comes with an integrated battery, providing an all-in-one solution for pilots.
Aero Team Eindhoven, a Dutch student team that specializes in developing innovative technology for sustainable aviation, has recently made a significant breakthrough in the development of airborne cargo drones. The team has successfully fitted these drones with new batteries, enhancing their efficiency and sustainability. The new batteries developed by Aero Team Eindhoven have a higher energy density, making them more efficient and capable of carrying heavier loads.
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Table Of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Drone Battery Market, By Technology
9. Drone Battery Market, By Component
10. Drone Battery Market, By Drone Type
11. Drone Battery Market, By Platform
12. Drone Battery Market, By Function
13. Drone Battery Market, By Point Of Sale
14. Regional Analysis
15. Company Profiles
16. Competitive Landscape
17. Conclusion
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