A battery is an integral part of Unmanned Aerial Vehicles (UAV) that consists of stored energy used to provide power during flight. The evolution of battery bus architecture in UAVs has simultaneously evolved their propulsion system. Different parameters are present to measure the performance of the drone battery such as specific energy, charge rate, cycle life, and cost per kilowatt-hour. Significant investment has been made on the development of battery with higher specific energy, which should lead to rapid growth during the forecast period. However, major restraints of the market are high discharge rate, high cost, and low payload capacity of UAVs. The size of battery has made a significant impact on the vehicle weight and flight range by helping achieve high operating efficiency.
Moreover, government agencies, such as Federal Aviation Administration (FAA) and Federal Air Transport Agency (FATA), are working on policies to improve the efficacy of battery performance. In addition to that, Tesla is working on battery technology to improve flight longevity and efficiency. Earlier, the drone flight duration did not last for even 30 minutes, whereas continuous development in drone architecture has improved the flight duration to one hour. With the development of disruptive technology, the practical application of unmanned aerial vehicles gets diversified.
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The increased need for improved endurance and longer flight duration in drones will offer new growth opportunities for the market players. The factors responsible for the growth of the global UAV battery market are the growing demand for unmanned aerial vehicles (UAVs). . Fuel cell technology can be a better option to improve the operating performance of UAVs. In general, fuel cells are favored more than conventional batteries in long missions and low average power demands. Meanwhile, Ballard Power Systems signed a contract with Insitu, a Boeing subsidiary, to develop a next-generation high-performance fuel cell propulsion system to power unmanned aerial vehicles.
The key players in global UAV battery market are Ballard Power Systems (Canada), Cella Energy Limited (U.K), Denchi Power Limited (U.K), Sion Power Corporation (U.S.), Tadiran Batteries (U.S.), OXIS Energy (U.K), H3 Dynamics (Singapore), Ultracharge (Australia), MicroMultiCopter Aero Technology Co. Ltd. (China), and Hylium Industries INC (South Korea).
Global UAV Battery Market, By Segmentation
The global UAV battery market is segmented into UAV type, battery type, and regions. Among the UAV type, the Medium-Altitude Long Endurance (MALE) UAV is most widely used and has the largest market share due to long duration flights at an altitude of 10,000-30,000 feet. In terms of segmentation based on battery type, the fuel cell is estimated to have the largest demand in the UAV battery market during the forecast period, due to increase in R&D spending in fuel cells. The main advantages offered by fuel cell powered UAVs include low maintenance, no lubricants, and higher flight duration, which can last to 8 hours. Cella Energy signed a contract with Israel Aerospace Industries (IAI) to develop and evaluate a fuel cell power system for IAI’s BirdEye Mini UAV.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The North America region is expected to dominate the market in future, due to increased investment in drones. Asia Pacific region is presently second to North America in the global UAV battery market, and is estimated to trail North America during the forecast period due to extensive use of civilian UAVs and increased defense spending in regions such as Japan, South Korea, Malaysia, Singapore, Taiwan, and Indonesia.
Thus, the global UAV battery market is estimated to witness a CAGR of 16% from 2018 to 2023.
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The report for Global UAV Battery Market of Market Research Future comprises extensive primary research, along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders; it helps the reader gain a deeper insight into the market and industry performance. The report gives a clear picture of current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also contains a broad study of the different market segments and regions.
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