An unmanned Aerial Vehicle (UAV), popularly known as Drone, is an airborne system or an aircraft operated remotely by a human operator or autonomously by an onboard computer. UAVs do not have pilots on-board and rather combine technologies such as computer vision, object avoidance technology, and artificial intelligence among others to perform various activities. Drones are increasingly being used in industries like construction, agriculture, emergency response, surveillance, and e-commerce to perform a plethora of functions like mapping and imagery, package delivery, etc. Drones can also be ideal for providing insights from areas that are difficult to access during natural hazards as well as for living monitoring of crops for nutrition, diseases, and various cost-cutting measures.
One of the most important components of drones is their batteries. Batteries are responsible for the functioning of these drones and have a significant impact on their overall performance as some functions performed by drones require high energy and thus batteries are as important for drones as the drone’s build and capabilities. Drones are of different types such as low-altitude long-endurance (LALE), medium-altitude long-endurance (MALE), high-altitude long-endurance (HALE), tactical and small drones depending on the level of altitude they can fly up to as well as their function and size, with medium-altitude long-endurance (MALE) drones being the most widely used. Similarly, different types of batteries are used to power these drones such as fuel cell, lithium-ion, nickel-cadmium, and lithium polymer, etc., with the lithium-ion battery being the most widely used because of their cost-effectiveness and higher energy density as compared to the older nickel-based batteries due to which lithium-based batteries provide more power per unit weight.
Lithium-ion batteries are also used as secondary sources of power in cases where drones use solar power as their main source and need increased in-flight time or are on night missions. There are various factors that must be considered before choosing a battery for drones such as the capacity of the battery, discharge rate, voltage level, the lifespan of the battery, activation time, cost, and charging time. With the increasing popularity of drones, constant innovations and developments are taking place in battery technology with fuel cell batteries which use hydrogen fuel in combination with oxygen to produce electricity making their way to the drone battery market. Drones are extensively being used by various industries, especially by the military for patrolling borders, surveillance of sensitive areas, etc. leading to a growth of the global UAV battery market.
However, the high cost, high discharge rate, and low payload capacity of UAVs are expected to be the major restraining factor for the growth of the global UAV battery market.
The global UAV battery market can be segmented on the basis of UAV type, battery type, and geography.
With wide applications in various industries, the demand for drones is increasing by leaps and bounds which is directly proportional to the demand for batteries. Drones are increasingly being used in industries like construction, agriculture, emergency response, mapping, law enforcement, surveillance, and e-commerce, etc. to perform a plethora of functions like mapping and imagery, package delivery, etc.
Increasing military expenditure by governments across the globe is creating lucrative opportunities for market players in the global UAV battery market. Increasing adoption of UAVs for strengthening defense and military capabilities for intelligence, reconnaissance, and surveillance purposes is a major factor that is expected to aid the growth of the global UAV battery market.
It Saves lives and reduces costs
Drones can be used to reach places that have been hit by natural disasters and help in rescuing stranded people. Drones can also be used for the delivery of eCommerce packages which reduce the cost of manual delivery agents.
Drones are expensive and require high maintenance. Also, they require a large number of batteries if used on a continuous basis which might act as a barrier to the growth of the global UAV battery market.
Drones are still in the innovation stage and thus, are not perfect. They have high discharge rates which make them less suitable for activities that are dangerous in nature like surveillance of enemy grounds etc. which require long battery life. They may discharge during important tasks which may cause a huge problem, especially when used for military operations which act as a restraint to the growth of the market.
Impact of COVID – 19
Coronavirus pandemic which caused mandatory lockdowns and forced people inside their homes led to a growth in the global UAV battery market as due to restrictions on movements, people couldn’t even move out to purchase essential commodities. To deliver these commodities, drones were used, hence increasing their usage. Also to ensure that people followed movement restrictions, surveillance was done through drones leading to a growth of the global UAV battery market.
The global UAV battery market is a competitive and saturated market with a number of big and small players catering to local and international demands. Prominent/major key market players in the global UAV battery market include Ballard Power Systems, Denchi Power Limited, Sion Power Corporation, Tadiran Batteries, OXIS Energy among others. The players in the global UAV battery market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global 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|