Global Uav Battery Market 2022-2028
MARKET OUTLOOK
According to Triton’s report, the global UAV battery market is deemed to witness growth at a CAGR of 17.46% during the forecast period 2022-2028.
The market is driven by numerous factors, such as advancements in smart battery technology, R&D in UAV and adjacent industries, and the rising need for long-range UAVs with high payload capacity.
However, issues due to thermal runaway and regulations pertaining to UAV battery transport impede the market’s growth. Nevertheless, the adoption of UAVs across industries is anticipated to open new avenues for the UAV battery market.
REGIONAL OUTLOOK
The global UAV battery market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
The Asia-Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The rising demand for UAV applications, including deliveries, agriculture, entertainment, and logistics, is expected to drive the demand for UAV batteries to a large extent. Further, advancements in battery technology have increased the demand for long-range and extended battery packs. The investments in battery R&D, including fuel cell and solar power, will support the expansion of the UAV battery market across the region.
COMPETITIVE OUTLOOK
The key companies in the UAV battery market are Plug Power, Intelligent Energy, HES Energy Systems, RRC Power Solutions, Sion Power, Eagle Picher Technologies, Inventus Power, Shenzhen Grepow Battery, Epsilor, and Doosan Corporation.
Plug Power offers zero-emission hydrogen and fuel cell systems. It specializes in the design, development, commercialization, and manufacturing of hydrogen fuel cell devices as an alternative energy source. Additionally, the company is focusing on proton exchange membranes, fuel processing technologies, battery hybrid technologies, and others. Its product line includes GenFuel, ReliOn, and GenDrive. Plug Power has headquarters in the United States.
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