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Aircraft Battery Market Size, Impacted by COVID-19, to Reach US$ 198.2 Million in 2026, Says Stratview Research
In the aircraft industry, batteries are used mainly for power backup & emergency systems, starting the engines and auxiliary power units, and flight preparation. They play a very crucial role as they supply power to the aircraft in case of power failure. Batteries in an aircraft must be reliable, durable, low maintenance, low weight, have low cost of ownership, and have an extended life. .
With unending orders and booming demand, the aerospace industry exhibited an uphill trajectory until 2019. The market underwent a minimal impact of B737MAX grounding, only the North American demand suffered a minor downturn in 2019. However, this flourishing industry could not escape from the pandemic in 2020. What initially seemed like a viable hitch, lately has metamorphosed into an obstruction for survival for many stakeholders across industries.
The long-term outlook still seems hopeful with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market.
https://www.stratviewresearch.com/toc/201/aerospace-and-defense-battery-market.html
Based on the platform type, . The aircraft segment is expected to fuel the market in the long-term, logging the fastest recovery, owing to strong order backlogs of 10,403 (Airbus: 6,372 and Boeing: 4,031) aircraft as of December 2020 . The UAV and the military aircraft segments remained relatively unflinching. Early signs of healing are discernible with the lift of FAA's B737max grounding order ( Nov. 2020 ) and Airbus' highest delivery figures ( Oct. 2020 ) since before the onset of the pandemic.
Based on the battery type, , . The shifting paradigm in the aerospace industry with the preference of key stakeholders is gradually transitioning from lead-acid to nickel-cadmium to lithium-ion batteries.
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All regions took a nosedive in 2020. owing to the region's predilection towards new technology adoption and implementation. However, . Upcoming commercial aircraft program, C919, opening of assembly plants in China by Boeing and Airbus, and an ongoing shift in assembly plants of OEMs in the region from North America and Europe are likely to create a healthy long-term demand for aircraft batteries in the region.
The supply chain of this market comprises raw material suppliers, aircraft battery manufacturers, distributors, OEMs, and MRO companies. . Formation of long-term contracts, application development, and development of innovative products are some of the key strategies adopted by the major players to gain a competitive edge in the market. The prevalent COVID-19 crisis has pushed leading players to realign their strategies to adapt to the need of the hour.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global aircraft battery market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
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