Aerospace battery market to reach $335 million by 2034
North America is expected to remain the largest region in the aerospace battery market. Asia-Pacific, particularly China and India, will likely experience the fastest market recovery.
The global aerospace battery market is projected to witness a growth rate of 4.9% annually from 2024 to 2034, with an anticipated size of USD 334.8 million by 2034, according to an analysis by global market research firm Stratview Research.
The aerospace battery market is segmented into narrow-body aircraft, wide-body aircraft, regional aircraft, general aviation, helicopters, military aircraft and UAVs.
“Narrow-body aircraft continue to be the backbone of the aviation industry, favoured for their adaptability and efficiency on short- to medium-haul routes,” Stratview said in a media release. “Their appeal lies in lower operating costs and the ability to serve domestic and regional markets, where demand for air travel is consistently high.”
Airlines, particularly low-cost carriers, rely heavily on these planes to connect smaller airports and cater to routes with moderate passenger volumes. This segment of the market is essential for handling the bulk of global air traffic.
Wide-body aircraft are poised for significant growth in the years ahead. These planes are designed for long-haul travel, offering larger seating capacities and enhanced passenger comfort.
Based on the battery type, the market is segmented into nickel-cadmium, lithium-ion, and lead-acid batteries.
“Lithium-ion batteries are poised to experience the fastest growth in the aerospace industry over the next few years, driven by their superior energy density, reduced weight, and increasing adoption in advanced aircraft designs,” the media release says. “However, nickel-cadmium batteries are expected to remain dominant during this period, valued for their robustness, reliability, and established use across a wide range of aircraft models.”
The analysis suggests that North America is expected to remain the largest region in the aerospace battery market during the forecast period. Meanwhile, the Asia-Pacific region, particularly China and India, will likely experience the fastest market recovery.
The top five companies in the aerospace battery market are Concorde Battery, EnerSys, GS Yuasa, Saft Groupe, and Securaplane Technologies, the Stratview Research report said.