Pune, India., April 10, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Global Drone Battery Market Growth Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Drone Type, Battery Type, Battery Capacity, Industry, and Geography" the market was valued at US$ 994.97 million in 2022 and is expected to reach US$ 2,450.56 million by 2028; it is anticipated to register a CAGR of 16.2% from 2022 to 2028.
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Global Drone Battery Market Growth Drivers:
• Increasing adoption of drones for various commercial and military applications, such as aerial photography, inspection, surveying, and surveillance.
• Advancements in drone technology, leading to the development of drones with longer flight times and higher payload capacity, which require more powerful batteries.
• Growing demand for high-performance batteries with longer lifespan and faster charging capabilities to meet the evolving needs of drone users.
• Increasing investments in research and development activities to develop new and improved drone batteries with enhanced properties and performance.
• The growing trend of using renewable energy sources in the production of drone batteries, such as lithium-ion batteries, to reduce carbon emissions.
• The increasing demand for drones in the agriculture sector, leading to a growing demand for high-performance drone batteries for crop monitoring and spraying.
• The rising popularity of recreational drones, leading to increased demand for affordable and reliable drone batteries.
• The growing trend of using drones for delivery and transportation purposes, leading to a growing demand for high-performance batteries with longer flight times.
Global Drone Battery Market Recent Developments:
• Development of new and improved battery chemistries, such as solid-state batteries, which offer higher energy density, longer lifespan, and faster charging capabilities.
• Advancements in battery management systems (BMS) to improve battery safety and prevent issues such as overcharging and overheating.
• Increasing adoption of renewable energy sources in the production of drone batteries, such as solar and wind power, to reduce carbon emissions and improve sustainability.
• Growing investments in research and development activities to develop new materials and technologies for drone batteries, such as graphene and nanotechnology.
• Increasing use of artificial intelligence (AI) and machine learning (ML) in drone battery management to optimize battery usage, prolong lifespan, and improve safety.
• Introduction of smart drone batteries with features such as real-time monitoring, remote diagnostics, and automatic shut-off to improve safety and performance.
• Growing partnerships and collaborations between drone manufacturers and battery manufacturers to develop integrated solutions that offer improved performance and safety.
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The global drone battery market is a moderately fragmented market with considerable regional and local players providing solutions for retailers across the globe. Asia Pacific dominated the global market in 2022, accounting for ~39% of the drone battery market share, followed by North America and Europe. The region is known for adopting drone technologies at an early phase. One of the major factors fueling the drone battery market growth in Asia Pacific is the presence of drone companies in the countries such as China, Japan, India, and South Korea. Furthermore, numerous drone manufacturing companies such as DJI across the region manufacture a variety of consumer and commercial drones for different applications. China accounts for more than 60-65% share of the global drone market, which is another major factor for the high penetration of drone batteries across the region. Moreover, Asia Pacific is expected to retain its dominance in the global drone battery market and register the highest CAGR during the forecast period. This is mainly due to increased investments in drone technologies by different industry verticals such as agriculture, forestry, infrastructure, mining, sports, etc. Drones are expected to become part of daily operations across industries such as insurance and journalism in the coming years. Such factors are also likely to drive the drone battery market during the forecast period.
Further, North America is estimated to be the second most dominant region in the global drone battery market in 2022. This is due to the presence of many small drone manufacturing companies across countries such as the US and Canada. A few of the major drone manufacturers across the region include Freefly Systems, Flir, Dragonfly, Ascent Aerosystems, and AgEagle. These companies constantly produce new drone products to cater to the growing market demands to remain competitive in their respective marketplace. Moreover, the US has already banned the sale of China-based products, which is one of the major factors leading to the low penetration of China-based drone companies in the US market. This is one of the major disadvantages for China-based companies despite being highly ranked in the global drone industry. Such factors have been hampering the drone battery market growth of China-based manufacturers that operates across North America region, thereby providing new opportunities for North America drone battery manufacturers to cater to the growing customer demand and remain competitive in the market across the region.
In addition, Europe accounted for the third largest drone battery market share in 2021 and is expected to retain its position during the forecast period as well. Most drone manufacturers across the region procure drone batteries from international companies, as the presence of drone battery manufacturers, specifically for mini and micro quadcopters, is significantly low.
Global Drone Battery Market: COVID-19 Overview
The onset of the COVID-19 outbreak has severely affected the drone battery industry across the globe. The outbreak hampered the operations of construction industries as their facilities were shut down to prevent the spread of COVID-19, which directly impacted the import and export of drone batteries. Companies operating in the drone battery market had to make tough choices to sustain during the pandemic and the post-pandemic recovery period. The onset of the COVID-19 pandemic led to disruptions in the raw material supply chain, which led the market players to witness a slowdown in production. However, by mid-2020, the drone market had gained momentum. Official bodies started using drones for public surveying, inspections, and monitoring owing to social distancing requirements. Due to the use of drones for surveying, the drone battery market witnessed substantial growth.
Global Drone Battery Market: Drone Type Overview
Based on drone type, the drone battery market is bifurcated into mini quad and micro quad. According to the drone battery market analysis, the mini quad segment accounted for a larger drone battery market share in 2022 and is expected to retain its dominance during the forecast period.
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Global Drone Battery Market: Competitive Landscape and Key Developments
AMIT industries L.T.D, Amperex Technology Limited, Autel Robotics, MMC-UAV, Eaglepitcher Technologies, Parrot Drone SAS, Maxamps, Shenzhen Grepow Battery Co, DJI, and RRC Power Solutions are a few of the key drone battery market players profiled in the study.
In August 2020, Amperex Technology Limited, the supplier of Lithium-ion batteries, acquired a 180-acre land at US$ 75 million in Haryana, India. The company has two cell manufacturing facilities in China; however, due to India-China border tension, the company has decided to invest in an India-based manufacturing unit.
In March 2021, Grepow's sub-brand Gensace announced the launch of its new battery charger with 3rd generation IMARS III—an AC/DC balance battery charger with maximum 100W output.
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