Global UAV Battery Market is expected to Exhibit a CAGR of 11.1% During the Forecast Period (2023 - 2030), owing to Increasing demand for drone delivery and mapping services.
Global UAV Battery market, By UAV Type (Medium Altitude Long Endurance (MALE), High Altitude Long Endurance (HALE), Tactical UAVs, Small UAVs (Micro & Mini)), by Battery Type (Fuel Cell, Lithium-Ion, Lithium-Polymer, Nickel Cadmium), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa) - Global Forecast to 2030, is expected to be valued at US$ Billion by 2030, exhibiting a CAGR of during the forecast period (2023 - 2030), as highlighted in a report published by Coherent Market Insights.
UAV (unmanned aerial vehicles) batteries or drone batteries are one of the most critical components. Batteries are responsible for the UAV’s operation and have a big impact on their overall performance since some UAV operations demand a lot of energy, hence batteries are just as vital as the UAV’s build and capabilities play an important role in military intelligence, communication, and border security. An unmanned aerial vehicle (UAV) is a type of aircraft that operates without the presence of a human pilot. When it comes to UAVs, there is no set classification. While civilians have an ever-evolving definition of UAVs based on their expanding usage, defense organizations have specified their own rules for the aircraft. A UAV’s battery pack consists of more than just a group of cells. They are high-quality items with a variety of safety features. The most crucial aspects to consider when choosing a battery are its voltage level, capacity (measured in milliamp hours), discharge rate, or how much current can be drawn from it at once. The other factors that affect a UAV’s battery selection include cost, longevity, activation time, and charging time.
Global UAV Battery Market- Drivers
Increasing Demand for UAVs in the Commercial Sector will Increase to Support Market Expansion
The commercial sector is seeing increasing demand for UAVs, particularly in the agriculture, construction, and oil and gas industries. UAVs are used for crop monitoring, land surveying, and site inspection, which can be more efficient and cost-effective than traditional methods. Using UAVs in these industries can improve productivity, reduce costs, and improve safety, driving demand for UAVs. As such, the market for UAVs in the commercial sector is expected to grow significantly in the coming years.
The key factors driving the UAV Battery market include developments in smart battery technology, ongoing research and developments in UAV and adjacent industries, and the growing need for long-range UAVs with high payload capacity. Due to their low energy density, batteries are insufficient for long-distance flights, especially when cameras and other devices are powered by the same battery as the UAV’s propulsion system.
Global UAV Battery Market – Opportunities
Innovations in smart battery technology
With the availability of cheap microprocessors, manufacturers such as Shenzhen Grepow (China) and Maxell(Japan) are now offering lithium ion or polymer batteries with integrated battery management systems. These systems are capable of charge & discharge management and temperature management, short circuit management, data logging, and other functionalities. These functionalities help extend the battery life and allow for real-time monitoring of the system. They can also be used in conjunction with IoT and smart chargers to calculate optimum charging times and diagnostics. With a rise in IoT technology and systems integration, this is expected to be a standard feature of drone batteries in the future.
Global UAV Battery Market- Restraints
Heat & fire issues due to thermal runaway
Lithium-powered batteries have encountered 50% heat and fire hazards while charging.The batteries could burst during charging, endangering the operators’ safety and resulting in property damage. Due to their high altitude operation and increased exposure to temperature, vibration, and shock extremes, drone batteries are particularly prone to damage.
Global UAV Battery Market- Trends
The increasing use of solar panels in order to enhance flight time of UAVs is one of the key trends, which is expected to drive growth of the market over the forecast period. Majority of UAV OEMs such as SolAero Technologies, Sion Power Corporation, and AeroVironment are focused on implementing solar powered panels in their UAV models in order to offer extra flight time and make battery of UAV as a secondary power backup for UAVs. Moreover, in 2020, Sion Power Corporation (Battery manufacturer in Tucson, Arizona) designed the Licerion High Energy (HE) lithium-metal rechargeable batteries for UAV platforms, which uses photovoltaic cells mounted on the surface of the aircraft to recharge batteries.
Global UAV Battery Market- Impact of Coronavirus (Covid-19) Pandemic
The onset of the COVID-19 outbreak has severely affected the drone battery industry across the globe. The outbreak hampered the operations of construction industries as their facilities were shut down to prevent the spread of COVID-19, which directly impacted the import and export of drone batteries. Companies operating in the drone battery market had to make tough choices to sustain during the pandemic and the post-pandemic recovery period. The onset of the COVID-19 pandemic led to disruptions in the raw material supply chain, which led the market players to witness a slowdown in production. However, by mid-2020, the drone market had gained momentum. Official bodies started using drones for public surveying, inspections, and monitoring owing to social distancing requirements. Due to the use of drones for surveying, the drone battery market witnessed substantial growth.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/uav-battery-market-2820
Key Takeaways:
The Global UAV Battery Market was valued at US$ 5.21 Billion in 2022 and is forecast to reach a value of US$ 12.1 Billion by 2030 at a CAGR of 11.1% between 2022 and 2030.
Global UAV Battery Market: Competitive Landscape
Ballard Power Systems., Denchi Group Ltd, EaglePicher Technologies, H3 Dynamics Holdings Pte. Ltd., Kokam, OXIS Energy Ltd., Sion Power Corporation, Tadiran Batteries, AMIT industries L.T.D, and Amprius Technologies
Global UAV Battery Market- Recent Developments
- In August 2020, Amperex Technology Limited, the supplier of Lithium-ion batteries, acquired a 180-acre land at US$ 75 million in Haryana, India. The company has two cell manufacturing facilities in China; however, due to India-China border tension, the company has decided to invest in an India-based manufacturing unit.
- In April 2022, Lithium-ion batteries power everyday products, from laptops to drones, because of their longevity, safety, and charging speeds. Yet its production relies on rare metals, including cobalt and nickel. A research group at Tohoku University has unearthed a potential method for incorporating more common and cheaper elements as synthesizing electrode materials.
- In Sep 2020, StoreDot, with its latest battery technology breakthrough, StoreDot successfully reduced drone recharge time from 1-2 hours to 5 minutes.
- In may 2023 Indian Govt to bring quality control order for drones and electronic vehicles, policy for battery swapping under deliberation.
