The drone lithium battery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Drone Lithium Battery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The drone lithium battery market size has grown rapidly in recent years. It will grow from $4.82 billion in 2023 to $5.59 billion in 2024 at a compound annual growth rate (CAGR) of 16%. The growth in the historic period can be attributed to rising demand for drones across various industries increased consumer confidence and contributed to the acceptance of drone lithium batteries, growing adoption of drones for commercial applications, increasing awareness for electric-powered drones.
The drone lithium battery market size is expected to see rapid growth in the next few years. It will grow to $10.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to emergence of urban air mobility, integration with 5G networks, demand for lightweight and compact batteries, demand for high-temperature performance, development of drone swarming technology. Major trends in the forecast period include technological advancements in drone batteries, growing number of drone start-ups, regulatory compliance.
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Scope Of Drone Lithium Battery Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Drone Lithium Battery Market Overview
Market Drivers –
The increasing use of drones in commercial applications is expected to propel the growth of the drone lithium battery market going forward. Commercial usage of drones encompasses deploying unmanned aerial vehicles (UAVs) across diverse industries and sectors, leveraging their capabilities for efficient, safe, and cost-effective task execution compared to traditional methods. Lithium batteries are used in drones due to their high energy density, lightweight design, and ability to provide flight power. For instance, in May 2023, according to the UK drone survey consisting of 2,000 adults conducted by the Civil Aviation Authority (CAA), a UK-based government authority that oversees aviation activities to ensure safety and regulatory compliance, drone users across the UK increased to 5% in 2023 compared to 3% in 2021. Commercial drone deliveries are expected to grow 30% in 10 years, compared to 13% in 5 years. Moreover, filming and media drone users are expected to grow from 42% in 2022 to 46% in 2023. Therefore, the increasing use of drones in commercial applications is driving the growth of the drone lithium battery market.
Market Trends –
Major companies operating in the drone lithium battery market are focused on developing innovative solutions, such as lithium battery packs for commercial drones, to improve performance and address industry challenges. These batteries offer high energy density, power output, fast recharge times, durability, and a low self-discharge rate, enhancing performance and reliability. For instance, in April 2021, KULR Technology Group Inc., a US-based developer of next-generation thermal management technologies, launched high-capacity lithium battery packs tailored for commercial drones. These energy-efficient battery packs incorporate safe and lightweight batteries with advanced chemistry and thermal management technology. With cutting-edge lithium battery packs with advanced features such as cell-level monitoring, visible warning indicators, charge control balancing, and thermal runaway mitigation, KULR addresses key drone industry challenges related to battery safety and technological constraints.
The drone lithium battery market covered in this report is segmented –
1) By Battery Type: Lithium-Ion, Lithium-Polymer, Lithium–Sulfur
2) By Battery Capacity: Below 3,000 mAh, 3,000–5,000 mAh, Above 5,000 mAh
3) By Wing Type: Fixed Wing, Rotary Wing
4) By Drone Maximum Takeoff Weight (MTOW): Below 100 Kgs, 100–200 Kgs, Above 200 Kgs
5) By End Use: Military, Commercial
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Regional Insights –
North America was the largest region in the drone lithium battery market in 2023. The regions covered in the drone lithium battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the drone lithium battery market are Sony Corporation, Panasonic Corporation, LG Chem Ltd., China Aviation Lithium Battery Co. Ltd. (CNHL), Samsung SDI Co. Ltd., HES Energy Systems Pte Ltd., Team Orion, SZ DJI Technology Co. Ltd., Max Amps Inc., Plug Power Inc., RRC Power Solutions GmbH, Horizon Hobby LLC, CTECHi Technology Co Ltd., Kokam Co. Ltd., Grepow Battery Co. Ltd., EnerDel Inc., Thunder Tiger Corp, Solid State PLC, Dualsky Motors, Hextronik Limited, Venom Group International, Tattu and Gens Ace, Thunder Power RC Corporation
Table of Contents
1. Executive Summary
2. Drone Lithium Battery Market Report Structure
3. Drone Lithium Battery Market Trends And Strategies
4. Drone Lithium Battery Market – Macro Economic Scenario
5. Drone Lithium Battery Market Size And Growth
…..
27. Drone Lithium Battery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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