Drone Battery Global Market Report 2024: Market Size To Reach $13.3 Billion By 2028

Drone Battery Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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What Is The Anticipated Growth Rate and Market Size of the Global Drone Battery Market?

The drone battery market size has grown exponentially in recent years. It is projected to expand from $4.99 billion in 2023 to $6.12 billion in 2024, exhibiting a compound annual growth rate CAGR of 22.7%. The historical growth can be linked to various factors including the rise in the agricultural sector, regulatory support, increased defense budgets, heightened interest in recreational activities, and overall economic growth.

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What Is the Anticipated Growth Forecast For The Drone Battery Market?

The drone battery market size is expected to see exponential growth in the next few years. It is projected to reach $13.34 billion in 2028, at a compound annual growth rate CAGR of 21.5%. This future growth can be attributed to factors such as the rise of the military and defense sector, increasing r&d investments, the rise of e-commerce, heightened need for surveillance, and an increase in disposable income.

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What Are The Key Drivers Of Drone Battery Market Growth?

The rising adoption of drones for commercial and defense applications is expected to provide a significant boost to the drone battery market. The increased role of drones in diverse roles, from detecting threats, identifying risk-prone areas, conducting reconnaissance missions, tracking illegal activities to controlling crime, speaks volumes about their growing importance in commercial and defense applications. Goldman Sachs, a leading US-based Investment banking company, anticipates the drone sector to reach a staggering $100 billion by 2022. Therefore, the increasing adoption of drones for diverse applications is expected to drive the growth of the drone battery market.

Who Is At The Helm In The Drone Battery Market?

Prominent players in the drone battery market include Amperex Technology Limited, Skydio Inc., Yuneec International Co. Ltd., SolidEnergy Systems Corporation, Genspow GmbH, among several others. These industry leaders influence the direction of growth and innovation within the market.

What Key Trends Are Impacting The Drone Battery Market?

Strategic partnerships have emerged as a key trend gaining traction in the drone batteries market. Major firms are focused on forming alliances to meet consumer demand and strengthen their positions. Notable examples include Axon, a US-based pioneer in electronic control devices, which partnered with Skydio. Neuron Energy has also created ripples by launching a LIPO HV Battery designed for high-performance drone applications.

How Is The Global Drone Battery Market Segmented?

The drone battery market can be segmented:

1 By Component: Cell, BMS, Enclosure, Connector
2 By Battery: Fuel Cell, Lithium-Ion, Lithium-Polymer, Nickel Cadmium
3 By Drone Type: Medium Altitude Long Endurance MALE, High Altitude Long Endurance HALE, Tactical, Small
4 By Function: Special Purpose Drones, Passenger Drones, Inspection And Monitoring Drones, Surveying And Mapping Drones, Agriculture Drones, Cargo Air Vehicles, Other Functions
5 By End-User: Commercial, Military, Government and Law Enforcement, Other End Users

What Are The Regional Insights Into The Drone Battery Market?

North America led the drone battery market in 2023 and is expected to be the fastest-growing region in the drone battery market share during the forecast period, demonstrating its dominance in the sector. The drone battery market report covers various geographies, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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