Aircraft Battery Market Size, Share, Growth Analysis, By Type(Lithium - based Batteries and Nickel - based Batteries.), By Application(Starting Battery, Emergency Battery and Ground Power Unit Battery.) - Industry Forecast 2024-2031

Aircraft Battery Market size was valued at USD 3.3 billion in 2021 and is poised to grow from USD 3.75 billion in 2022 to USD 10.48 billion by 2030, growing at a CAGR of 13.7% in the forecast period (2023-2030).

The global aircraft batteries market has witnessed significant growth in recent years, aircraft batteries play a critical role in providing backup power to various systems, ensuring safety, and enabling essential operations in case of emergencies or power failure. Moreover, the rising number of aircraft deliveries, both commercial and military, has further boosted the demand for advanced and high-performance batteries, fostering market expansion. Manufacturers are investing heavily in research and development to introduce lightweight, high-energy-density, and environmentally friendly battery solutions. Lithium-ion (Li-ion) batteries, in particular, have gained prominence due to their superior energy-to-weight ratio and longer lifespan compared to traditional battery technologies. The shift towards electric and hybrid-electric aircraft has also bolstered the demand for innovative battery systems, supporting the market's upward trajectory. The commercial aviation sector constitutes a significant share of the aircraft batteries market. The steady increase in air passenger traffic, along with the expansion of airline fleets to cater to the rising demand, has led to higher investments in modernizing and upgrading aircraft systems, including batteries. Airlines are increasingly seeking batteries with improved performance and safety features to comply with stringent aviation regulations and to enhance the overall reliability of their operations. Furthermore, the military segment is another vital contributor to the aircraft batteries market. With countries focusing on strengthening their defense capabilities and modernizing their air forces, there is a growing need for advanced military aircraft equipped with cutting-edge battery technologies. These batteries support various applications in military aircraft, such as starting the engines, emergency power backup, and powering avionics and weapon systems, thus bolstering market growth.

US Aircraft Battery Market is poised to grow at a sustainable CAGR for the next forecast year.