Introduction
A lithium battery also known as Li-ion battery is a battery that is rechargeable, and it uses reversible reduction of lithium ions to store energy. This is the most well-known sort of battery that powers racing and photography drones, the battery packs more energy storage into more modest spaces.
What will be the Market Size and Growth Rate in the forecast year?
At a growth rate of 19% between 2021 and 2026 the market for drone batteries is expected to grow from USD 4 billion in 2021 to USD 9.6 billion in 2026. Existing drone and drone component manufacturers as well as newcomers to the market are benefiting from the growing use of drones for goods delivery in the transportation and logistics sector.
Drones with a long flight time, a large payload capacity, and advanced technologies are also a focus for major market players. The demand for hybrid drones with a high payload capacity is expected to rise as a result of the expanding global e-commerce industry and its growing use of drones. Over the forecast period, this is anticipated to accelerate the market for drone battery growth.
What are the Key Factors driving Lithium Battery needs for the Drone Market?
Long-distance missions can benefit from energy-dense batteries like lithium sulfur or lithium metal, which have a larger charge capacity than conventional batteries. Despite this, the cost of these batteries is still quite high due to the technology’s newness and the lack of competition among manufacturers. The most advanced high-capacity batteries are only being used for technology demonstration missions or prototypes as a result of this slow and limited rate of adoption in the market.
It is anticipated that commercial and consumer adoption of these more recent batteries will be limited until they become more cost-effective.
What are the Risks and Challenges in front of the market?
Between 2012 and 2017, a Consumer Product Safety Commission (CPSC) study found that 200 drone incidents occurred. During charging, fifty percent of these incidents occurred. When making drone batteries, there aren’t enough safety rules. As a result, the batteries are more susceptible to thermal runaway.
The batteries may explode if the temperatures rise while they are being charged, injuring the operators, or causing damage to their property. Because they operate at high altitudes and are more susceptible to temperature fluctuations, vibrations, and shock, drone batteries are even more vulnerable to damage.
Who are the Key Vendors in Lithium Battery for Drone Market?
The market for Drone continues to grow and this leads to the increase of demand for the Lithium Battery and many battery manufacturers have jumped in to this fast growing market for lithium batteries that are installed in the drones.
The following are the key vendors in Lithium battery for Drones; Sion Power (USA), Amperex Technology Limited (China), Ballard Power System (Canada), Maxell (Japan), Cella Energy (USA), Denchi Power (UK), Venom Power (USA), Grepow (USA) and Amicell-Amit Industries Limited (Israel).
What are the Trending Factors influencing the market shares?
The market for drone batteries is divided into two groups based on point of sale: original equipment manufacturers (OEM) and aftermarket. Due to rising demand for commercial and military drone upgrades, the aftermarket market is expected to expand at the highest CAR over the forecast period.
At the time of purchase, each drone typically comes with one or two batteries. However, it is suggested that additional batteries be purchased to meet the industry’s flight requirements. As a result, the spare battery management segment of aftermarket services will see an increase in demand as demand for longer flight times increases.
Which are the Global Opportunities for Expanding the Lithium Battery for the Drone Market?
In conclusion, the market for drone batteries has been divided into fuel cell-based, nickel-based, and lithium-based segments on the basis of technology. During the forecast period, it is anticipated that the lithium-based segment will dominate the market. The lithium-based technology market will expand at a faster rate as lithium-metal and lithium-sulfur technology advances. The demand for autonomous urban air mobility and fuel cell batteries for drones is being driven by an increased demand for alternative modes of transportation.
REFERENCE LIST
- Drone Battery Market Size & Share | Industry Report, 2021-2026 | MarketsandMarkets™
- Lithium-ion Battery for Drones Market Research Insights 2023-2028 [Latest Report]: Leading Players Analysis with Industry Size and Share – The Express Wire
- Lithium-ion Battery for Drones Market Research Insights 2023-2028 [Latest Report]: Leading Players Analysis with Industry Size and Share – MarketWatch
- Khofiyah, N.A., Maret, S., Sutopo, W. and Nugroho, B.D.A., 2018, October. Goldsmith’s commercialization model for feasibility study of technology lithium battery pack drone. In 2018 5th International Conference on Electric Vehicular Technology (ICEVT)(pp. 147-151).
- Patel, P., 2018. New battery tech launches in drones [news]. IEEE Spectrum, 55(7), pp.7-9.
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