The Aircraft Battery Market was valued at USD 445.4 Million in 2016 and projected to reach USD 667.8 Million by 2022, at a CAGR of 7.05% during the forecast period. The base year considered for the study is 2016 and the forecast period is 2017 to 2022.
The research methodology that has been used to estimate and forecast the aircraft battery market begins with capturing data on the revenues of the key market players through secondary sources, such as International Air Transport Association (IATA), Department of Defense (DoD), and paid databases. The aircraft battery offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the aircraft battery market from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives of the leading companies operating in the aircraft battery market. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments.
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The aircraft battery ecosystem comprises aircraft battery system providers, such as Concorde Battery (US), Saft (France), EnerSys (US), Gill Batteries (US), and Sichuan Changhong Battery (China), among others, and the manufacturers of different types of aircraft battery, such as Cella Energy (UK), EaglePicher (US), GS Yuasa (Japan), KOKAM (South Korea), and Marvel Aero International (US), among others.
Based on offering, the aircraft battery market has been segmented into product and service. The product segment is expected to lead the market in 2017. The product segment includes all the battery types and battery management systems used in aircraft. As the aircraft architecture is moving toward more electric architecture, the need for better and more number of batteries is driving the product segment of the aircraft battery market.
Based on application, the aircraft battery market has been segmented into propulsion, Auxiliary Power Unit (APU), emergency, and others. The APU segment is expected to lead the market in 2017. An APU is a small jet engine used to start the main engines of commercial airplanes. It is usually located in the aft portion of the aircraft, below the tail. The main aircraft engines are heavy and require a large amount of torque, more than the starter generator can produce. The demand for considerably small aircraft, with maximum space utilization, is growing in the current market scenario, mainly because of the cost factor. Thus, the small aircraft segments such as the narrow body and wide body aircraft are gaining more market share, which directly impacts the growth of the battery market.
Based on end user, the aircraft battery market has been segmented into OEM and aftermarket. The OEM segment of the market is projected to witness the highest growth during the forecast period. Original Equipment Manufacturers (OEMs) are responsible for the installation of battery components. This has become a suitable alternative for airline companies, as post the delivery of aircraft, modification becomes cumbersome for aircraft manufacturers.
The high cost incurred in the development of different types of aircraft batteries is a major factor restraining the growth of the aircraft battery market across the globe. Significant investments are required at different stages of the value chain of the aircraft battery industry (especially in R&D, manufacturing, system integration, and assembly stages).
Products offered by various companies operating in the market have been listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between November 2010 and October 2017 to strengthen their positions in the market. Major players in the market include Concorde Battery (US), Saft (France), EnerSys (US), Gill Batteries (US), and Sichuan Changhong Battery (China), among others. These companies have significant geographic reach and distribution channels.
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