The global UAV Battery Market was valued at US$XX in the year 2019 and is expected to reach a market worth US$XX million by 2026, growing at a CAGR of XX% during the period. UAV or unmanned aerial vehicle (UAV) is an aircraft piloted by remote or software used for observation, tactical planning, deliveries, and other minor function. With a rise in automation, the UAV or as commonly known as a drone, has witnessed a surge in market adoption across various industry verticals to perform certain operations at a lower cost. A battery is one of the crucial parts of a UAV device since it fuels the UAV so that it can carry out its operations. It is expected that the rise in sales of UAVs will increase the demand for UAV batteries. Furthermore, innovation and the launch of new products are projected to open new opportunities for the market. Increasing automation across the food and beverage industry supports the inculcation of robotic and drones which is projected to provide notable growth potential for the market.
Geographically, the UAV battery market is divided into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific regions for the study. The Asia Pacific UAV battery market is expected to be the prime supplier of UAV batteries during the forecast period. Countries like China and South Korea have been emerging as manufacturing hubs for the production of electronics and batteries. Lower labor cost accompanied by the availability of raw materials is projected to support production in the region. The North America and Europe regions are expected to be the key consumer market of UAV batteries with the rising adoption of drones across several industry verticals. Significant investment and supporting infrastructure also play a crucial role in the development of the market.
One of the prime reasons which are anticipated to drive exponential growth in the market for UAV batteries during the forecast period is rising demand for UAVs. UAVs, or as known as a drone, have witnessed a surge in adoption across security, military and defense, entertainment and photography, and home delivery industries. The rise in drone adoption increased the demand for UAV batteries. It is forecasted that increasing demand for drones will drive the market growth of UAV batteries.
The vast outbreak of the covid-19 virus led to the implementation of nationwide lockdown and restrictions in trade. In the e-commerce industry, increased infection among delivery personnel and the fear of the spread of the virus to consumers encouraged the adoption of automation as an alternative, which involved robots and drone delivery. Hence a surge in demand for drones was observed which significantly increased the market demand for UAV batteries. Especially in North America and European regions where the sale of commercial drones surged with the rise in automation. Furthermore, increasing usage of drones for delivery, sanitization, inspection, and other operation expanded the market scope for development. Hence, the covid-19 pandemic bombarded growth in the UAV battery market.
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||UAV Type, Battery Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Ballard Power Systems, Denchi Power Limited, Sion Power Corporation, Tadiran Batteries, OXIS Energy, H3 Dynamics, Ultracharge, MicroMultiCopter Aero Technology Co. Ltd., Hylium Industries INC.|
|Customization scope||Free report customization with purchase|
Key Market Segments
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. GLOBAL UAV BATTERY MARKET, BY UAV TYPE
5.2. Low-altitude long-endurance (LALE)
5.3. Medium-altitude long-endurance (MALE)
5.4. High-altitude long-endurance (HALE)
6. GLOBAL UAV BATTERY MARKET, BY BATTERY TYPE
6.2. Fuel cell
6.5. Lithium polymer
7. GLOBAL UAV BATTERY MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Ballard Power Systems
9.2. Denchi Power Limited
9.3. Sion Power Corporation
9.4. Tadiran Batteries
9.5. OXIS Energy
9.6. H3 Dynamics
9.8. MicroMultiCopter Aero Technology Co. Ltd.
9.9. Hylium Industries INC.
Ballard Power Systems
Denchi Power Limited
Sion Power Corporation
MicroMultiCopter Aero Technology Co. Ltd.
Hylium Industries INC.
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