Overview and Scope
A drone battery refers to the power system of a drone that allows the drone to fly high and runs the drone’s onboard systems.
Sizing and Forecast
The drone battery market size has grown exponentially in recent years. It will grow from <b>$4.99 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. </b> The growth in the historic period can be attributed to growth in agricultural sector, regulatory support, rise in defense budgets, rise in recreational activities, economic growth.
The drone battery market size is expected to see exponential growth in the next few years. It will grow to <b>$13.34 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. </b> The growth in the forecast period can be attributed to rising military and defense sector, increasing r&d investments, rise in e-commerce, rising need for surveillance, rise in disposable income. Major trends in the forecast period include rapid advancements in battery chemistry, battery safety and fire mitigation, swappable battery systems, wireless charging technologies, ai battery management.
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Segmentation & Regional Insights
The drone battery market covered in this report is segmented –
1) By Component: Cell, BMS, Enclosure, Connector
2) By Battery: Fuel Cell, Lithium-Ion, Lithium-Polymer, Nickel Cadmium
3) By Drone Type: Medium Altitude Long Endurance (MALE), High Altitude Long Endurance (HALE), Tactical, Small
4) By Function: Special Purpose Drones, Passenger Drones, Inspection And Monitoring Drones, Surveying And Mapping Drones, Agriculture Drones, Cargo Air Vehicles, Other Functions
5) By End-User: Commercial, Military, Government and Law Enforcement, Other End Users
<b>North America</b> was the largest region in the drone battery market in 2023. <b>North America</b> is expected to be the fastest-growing region in the drone battery market share during the forecast period. The regions covered in the drone battery market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the adoption of drones for commercial and defense applications is expected to propel the growth of the drone batteries market going forward. The adoption of drones for commercial and defense applications is required to detect threats, identify risk-prone areas of remote locations, conduct reconnaissance missions, track illegal activities, and to control crime. For instance, according to Goldman Sachs, a US-based Investment banking company, the drone sector is expected to reach $100 billion by 2022. Therefore, the increasing adoption of drones for commercial and defense applications drives the growth of the drone battery market.
Key Industry Players
Major companies operating in the drone battery market include <b> Amperex Technology Limited, Skydio Inc., Yuneec International Co. Ltd., SolidEnergy Systems Corporation, Genspow GmbH, H3 Dynamics Holdings Pte Ltd, Plug Power Inc., Epsilor Electric Fuel Ltd., Shenzhen Grepow Battery Co Ltd., EaglePicher Technologies LLC, RRC power solutions GmbH, Proflight Zambia Limited, Amicell-Amit Industries Limited, UVify Inc., Zhejiang Gens Ace Technology Co. Ltd., Intelligent Energy Holdings plc, Ballard Power Systems Inc., Cella Energy Limited, Denchi Power Ltd., Kokam Co. Ltd., OXIS Energy Ltd., Sion Power Corporation, Tadiran Batteries GmbH, Autel Robotics USA LLC, Parrot SA, Venom Group International, SZ DJI Technology Co. Ltd., Doosan Mobility Innovation Inc., HES Energy Systems Ltd., Envision AESC Group Limited </b>
The drone battery market report table of contents includes:
1. Executive Summary
2. Drone Battery Market Characteristics
3. Drone Battery Market Trends And Strategies
4. Drone Battery Market – Macro Economic Scenario
5. Global Drone Battery Market Size and Growth
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26. South America Drone Battery Market
27. Brazil Drone Battery Market
28. Middle East Drone Battery Market
29. Africa Drone Battery Market
30. Drone Battery Market Competitive Landscape And Company Profiles
Top Major Players:
- Amperex Technology Limited
- Skydio Inc
- Yuneec International Co. Ltd.
- SolidEnergy Systems Corporation
- Genspow GmbH
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