North America Uav Battery Market 2022-2028
MARKET OUTLOOK
According to Triton Market Research’s report, the UAV battery market in North America is estimated to attain a CAGR of 17.54% over the forecasted years from 2022 to 2028. Canada and the United States are studied in this region.
In Canada, the introduction of UAVs in the aeronautical sector has offered various benefits to operators and end-users. Several companies have entered partnerships and contracts to offer product differentiation and enhancement. This has led to the rise in drones for monitoring, surveillance, and training purposes over the past few years. Such developments are thus expected to increase the need for batteries, thereby driving the UAV battery market on a progressive path.
Likewise, various companies have enhanced operations to gain a competitive edge in the UAV sector in the US. As a result, companies are able to gain contracts in the defense industry. Besides, numerous businesses are striving to enter the commercial segment. For instance, Amazon’s testing and research of unmanned aerial vehicles for logistics and delivery purposes have pressured the government to modify drone regulations. This is expected to increase drone demand for various applications, including agriculture, public safety, and disaster management. Thus, these factors are creating opportunities for the UAV battery market.
COMPETITIVE OUTLOOK
The leading companies in the UAV battery market include Plug Power, HES Energy Systems, Sion Power, Shenzhen Grepow Battery, Epsilor, and RRC Power Solutions.
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