Aircraft Battery Market Set to Grow Exponentially During the Forecast 2017 – 2027
Future Market Insights has announced the addition of the “Aircraft Battery Market Global Industry Analysis and Opportunity Assessment, 2017 – 2027"report to their offering.
Valley Cottage, NY -- (SBWire) -- 04/16/2018 --Aircraft Battery are rechargeable energy storage devices housed within an aircraft for the purpose of powering up the entirety of aircrafts electrical system and initiate the auxiliary power units such as aircraft engines. The auxiliary power units which is connected to the generators helps in generating electricity which serves the dual purpose of being the source of electrical power and recharging the aircraft batteries. Aircraft battery also serve as a back-up power source in the unlikely event of failure of primary power source. The aircraft battery market is anticipated for healthy growth in the future owing to a positive growth witnessed in the aviation industry as well as the demands placed by both the aircraft manufacturers and airline carriers for high density and robust batteries to support the power requirements of the aircraft.
An aircraft in the recent market scenario has become much more than a simple means of transportation, the level of sophistication and innovations deployed in an aircraft has steadily increased over the years demanding batteries with high energy storage capacities and longevity. This is further driven by the growing number of electrical instruments, navigational devices, advanced cabin interior systems and lighting accommodated within an aircraft. Aircraft manufacturers or the OEMs also push the battery manufacturers to produce aircraft batteries that are highly reliable, require low maintenance, can be operated easily and generally be lightweight so as to reduce the payload carried by the aircraft and have minimal impact on the environment.
With an influx in demand observed in air travel since the last couple of years, airline carriers are steadily increasing the number of orders for new aircrafts prompting the OEMs to increase the production output for aircrafts biding well for the growth of the aircraft batteries in the forecast period. The surge in long haul flights with zero transitional stops further augments the requirement of large capacity batteries which in turn aids in the growth of the aircraft battery market.
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Though aircraft battery market has paved itself a way to grow in the forecast period, they are not without its restraints. Some of the roadblocks associated to the growth of the market is high initial cost associated with the product due to costly raw materials, regular maintenance requirements to ensure its smooth functioning thereby increasing its service costs and high risk hazards associated with it. Aircraft battery manufacturers are constantly challenged by Government bodies and environmental watchers to manufacture aircraft batteries that causes minimum pollution to the environment and Aircraft Battery Market Segmentation By Battery Type – Lead acid battery, Nickel cadmium battery, Nickel metal hydride battery, Lithium ion battery, Others; By Sales Channel – OEM, Aftermarket; By Aircraft Type – Narrow Body Aircraft, Wide Body Aircraft, Very Large Body Aircraft, Regional Aircraft
The aviation industry in the Asia Pacific is en route for the fastest growth among all other regions owing to burgeoning interest in air travel and increasing disposable income of the people. Narrow body aircrafts take up the majority of market share in the region and large orders have also been placed for such aircrafts. China is on a path to break the duopoly of Boeing and Airbus by investing a huge amount of capital to manufacture its own aircraft in order to reduce cost and improve its manufacturing prowess hence biding well for the growth of the aircraft battery market in the region. The Middle East and Africa region is home to some of the most well-known and reputed airline carriers with flights reaching many important locations on the globe while the aviation industry in the North American and European market is also on a rise owing to growth witnessed in air travellers thereby influencing a positive growth in the aircraft battery market in the upcoming years
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Examples of some of the major players in the Global Aircraft Battery market, identified in the value chain include: Concorde Battery Corporation, Saft Groupe S.A., HBL Power Systems Ltd., EaglePicher Technologies, LLC, Mid-Continent Instrument Co., Inc., Cella Energy Ltd., Tadiran Batteries GmbH, Teledyne Battery Products, AeroBatteries, Inc., Storage Battery Systems, LLC
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