Asia-pacific Uav Battery Market 2022-2028
MARKET OUTLOOK
Triton’s research report infers that the Asia-Pacific UAV battery market is expected to display a CAGR of 18.01% during the forecasted years 2022-2028. China, India, Australia & New Zealand, Japan, ASEAN countries, South Korea, and Rest of Asia-Pacific are examined in the APAC region.
In India, the UAV battery market is primarily driven by the rising establishment of startup organizations engaged in developing UAV drones. There is a rising focus on unmanned aerial vehicles for commercial purposes, including logistics, deliveries, and entertainment. Besides this, the government is allocating funds to adopt UAVs for military purposes, further elevating the demand for UAV batteries.
On the other hand, South Korea is heavily investing in technological developments and security, which has increased the adoption of UAVs. This has encouraged companies to focus majorly on UAVs. For instance, Korean Air partnered with Korea Aerospace Research Institute to develop KUS-TR, a VTOL aircraft. This aircraft is used by the military and civilians. Additionally, the company has commenced mass production of its medium-altitude UAV, which is intended to offer surveillance of the nation’s challenging geopolitical neighborhood. Therefore, the rising demand for UAVs for military purposes increases the demand for batteries, opening avenues for the UAV battery market.
COMPETITIVE OUTLOOK
The notable companies in the UAV battery market include HES Energy Systems, RRC Power Solutions, Epsilor, Plug Power, and Doosan Corporation.
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