Heightening regional and global security concerns attributed to rising political tensions to augment defense expenditure across countries, providing traction to the market
ROCKVILLE, MD / ACCESSWIRE / February 16, 2021 / Fact.MR's extensive report on the global drone battery market forecast a robust expansion rate for FY 2021-22, poised to experience a staggering 8% compounded growth. In spite of the coronavirus pandemic putting brakes on expansion prospects, growth rebounded since Q4 2020, attributed to easing of lockdown restrictions which permitted a resumption of outdoor activities. A noteworthy CAGR is predicted for the 2021-2031 assessment period.
Extensive drone deployment in the past few years has expanded the drone battery market scope. According to DroneDeploy, the construction industry witnessed maximum drone adoption in 2018, reaching 239%, followed by mining (198%), agriculture (172%), surveying (171%) and real estate (118%). Manufacturers are thus introducing an array of high-capacity batteries to ensure increased operational uptime across the aforementioned industries.
Prolific expansion opportunities lie in store across the aerospace and defense segment. Rising geopolitical and military tensions are prompting countries to augment defense spending, leading to increased drone deployments. The Stockholm International Peace Research Institute (SIPRI) estimated global defense spending to have increased to nearly US$ 2 trillion in 2019, an increase of 3.6% from 2018.
"As surveillance technologies advance, drone deployment is expected to emerge as the new normal, prompting increasing investments from key industry verticals in the upcoming decade. This is opening up new growth frontiers for key drone battery manufacturers," comments a Fact.MR analyst.
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Key Takeaways from Fact.MR's Drone Battery Market Study
- Commercial/Industrial drone batteries to witness expanding sales through 2021
- Lithium polymer (LiPo) batteries to account for four out of five sales by 2031, as they possess 4x more energy density
- By capacity, 3000-5000 mAh batteries to acquire high ground
- US to emerge as the dominant drone battery market in North America, owing to extensive drone deployment in various segments
- China to emerge strong amid heightened production of combat drones for defense and public safety
- UK to experience high sales, attributed to extensive drone deployment to check radiation levels at nuclear power plants
- Germany and France to experience credible growth in forthcoming years
Drone Battery Market- Prominent Drivers
- Increasing deployment of unmanned aerial vehicles for surveillance purposes to enhance drone battery sales
- Manufacturers are concentrating on deploying high efficacy batteries, attributed to the multifunctional nature of existing drones
- Emphasis is being laid on effective battery management systems atop drones, opening new revenue frontiers
Drone Battery Market- Key Restraints
- Limited drone deployment citing privacy concerns by citizens to hamper drone battery adoption
- High installation costs coupled with low payload capacity of UAVs to act as a key restraining factor
Discover more about the drone battery market with 192 figures and 114 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/1887/drone-batteries-market
Competitive Landscape
Amicell-Amit Industries Limited, Amperex Technology Limited, Autel Robotics, Genspow GmbH, Parrot, Skydio, SZ DJI Technology Co. Ltd., Uvify Ltd., Venom Power and Yuneec are some prominent drone battery manufacturers profiled in Fact.MR's report. The landscape appears partially fragmented, with a significant number of players concentrated across North America and East Asia.
In November 2020, Autel Robotics and DroneSense partnered to enable advanced public safety unmanned aircraft systems (UAS) operations. The collaboration will enable UAS teams to utilize the full suite of DroneSense capabilities tailor-made for the needs of public safety operators with their Autel EVO Series aircraft.
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Recently, in January 2021, Parrot, Europe's leading drone group, was chosen by the French defense procurement agency DGA to supply its ANAFI USA micro-drones to equip the air, sea and land corps. The drones will enable soldiers to undertake day and night observation capabilities, equipped with a powerful 32x zoom which would enhance reconnaissance capabilities.
More Valuable Insights on the Drone Battery Market
Fact.MR, in its new offering, presents an unbiased analysis of the global drone battery market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of drone type (mini quad, micro quad, commercial/industrial, and others), battery chemistry (NiCad, NiMH, and LiPo), and battery capacity (below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, and above 10,000 mAh), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Key Questions Answered in the Report
- How will the global drone battery market expand through 2031?
- What drivers underpin the drone battery market growth?
- What challenges are likely to exist for the projected growth forecast?
- Which application area is likely to witness maximum drone batteries adoption?
- Why is the US expected to remain the dominant drone battery market in North America?
- Why is China expected to emerge as an attractive drone battery investment hub?
- Which prominent players are currently operating in the global drone battery market landscape?
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