Latin America Uav Battery Market 2022-2028
MARKET OUTLOOK
Triton’s research report signifies that the Latin American UAV battery market is anticipated to register growth at a compound annual growth rate of 15.73% during the forecasting years 2022-2028. Brazil, Mexico, and Rest of Latin America are evaluated in the region.
Mexico is among the major economies supporting the growth of the UAV battery market. Drone prices have dropped significantly over the past few years. As a result, their demand has soared significantly for various applications, such as mapping, mining, crop monitoring, and aerial photography. Besides this, the government is heavily adopting UAVs for law enforcement and military operations, thus prompting the demand for long-range, high-endurance batteries. Therefore, as mentioned above, these factors are driving the UAV battery market.
On the other hand, Brazil’s market has witnessed significant growth owing to the rising adoption of drones for multiple applications. For instance, iFood collaborated with SpeedBird to enhance delivery operations using drones. The government approved this technology based on certain guidelines pertaining to altitude and route. Such partnerships and approvals have supported the development of the UAV sector, which ultimately creates a profitable market for UAV batteries.
COMPETITIVE OUTLOOK
Eagle Picher Technologies, Intelligent Energy, HES Energy Systems, Epsilor, and RRC Power Solutions are some of the notable companies in the UAV battery market.
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