Description
UAV Battery Market is predicted to register 16% CAGR during the forecast period 2018-2023. The Global UAV Battery Industry Shares segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa
Market Scenario
The global UAV Battery Market is predicted to register 16% CAGR during the forecast period (2018-2023) owing to the increasing demand for unmanned aerial vehicles (UAVs). A battery is considered an integral part of UAV and comprises stored energy which provides power during flight. UAVs are extensively used for better cross border surveillance in order to enhance communication, military intelligence, and border security. Developed countries such as Japan and the U.S. are heavily investing in UAVs which has resulted in improved input data and has brought down the number of human casualties.
Drivers and Constraints Impacting the Market
The advent of battery bus architecture in the UAVs has evolved the propulsion system. Several parameters such as charge rate, specific energy, cost per kilowatt-hour, and cycle life are present in order to measure the performance of the drone battery. Investment has also been made on the development of battery possessing higher specific energy, which is considered to foster the global UAV battery market during the assessment period. government agencies like the Federal Air Transport Agency (FATA) and Federal Aviation Administration (FAA) are continuously working on policies in order to improve the efficacy of the battery performance. Tesla is also working on battery technology which will improve the flight efficiency and longevity. Such factors are considered to enhance the market growth in the coming years. The duration of drone flights previously did not last for more than 30 minutes. With continuous development in the drone architecture, the flight duration has improved and lasts till an hour. The development of disruptive technology is further considered to drive the global UAV battery market. Fuel cell technology has been proven to improve the operating performance of UAVs.
On the flip side, high cost, high discharge rate, and low payload capacity of the UAVs are some of the major factors considered to impede the global UAV battery market growth during the appraisal period.
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Global UAV Battery Market: Segmental Analysis
The global UAV battery market has been segmented on the basis of UAV type, battery type, and region.
By mode of UAV type, the global UAV battery market has been segmented into HALE, MALE, small, and tactical. Among these, the medium-altitude long endurance (MALE) segment is extensively used and occupies the largest market share owing to the long duration flights at an altitude of 10,000-30,000 feet.
By mode of battery type, the global UAV battery market has been segmented into lithium-ion, fuel cell, nickel cadmium, and lithium polymer. Among these, the fuel cell segment is considered to experience the highest demand across the globe owing to the rising spending on research and development activities in fuel cell technology. Moreover, fuel cell powered UAVs offer several advantages such as no lubricants, low maintenance, and higher flight duration which lasts up to 8 hours. Such factors are presumed to drive the segment. Cella Energy has signed a contract with the Israel Aerospace Industries in order to evaluate and develop a fuel cell power system for the IAI’s BirdEye Mini UAV.
Regional Insights
Geographically, the UAV battery market spans across regions namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Among all the regions the North American region is considered to dominate the market in the coming years owing to the rising investment in drones. North American companies have started investing in drones in order to utilize them in several applications such as military and agriculture.
The Asia Pacific region is presumed to occupy the second position in the global market owing to the extensive use of civilian UAVs coupled with the growing defense spending in economies such as South Korea, Japan, Singapore, Malaysia, Indonesia, and Taiwan.
Industry Updates
January 09, 2018: A team of engineers from the U.K. has recently developed a hydrogen-powered drone which has achieved a flight time of 70 minutes and can carry a 5kg payload. Funded by the Innovative UK, the Project Rachel has been led by the Coventry-based engineering company Productiv on behalf of the UAV filming specialists BATCAM.
Competitive Dashboard
The prominent players operating the global UAV battery market are Denchi Power Limited (U.K), Cella Energy Limited (U.K), OXIS Energy (U.K), Tadiran Batteries (U.S.), Sion Power Corporation (U.S.), Ballard Power Systems (Canada), MicroMultiCopter Aero Technology Co. Ltd. (China), Hylium Industries INC (South Korea), H3 Dynamics (Singapore), and Ultracharge (Australia).
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