PUBLISHER: The Business Research Company | PRODUCT CODE: 1754818
PUBLISHER: The Business Research Company | PRODUCT CODE: 1754818
Aerospace energy storage refers to the systems and technologies used to store and manage energy in aerospace applications, including aircraft, spacecraft, satellites, and drones. These systems must be lightweight, highly efficient, and capable of operating under extreme conditions such as high altitudes, vacuum, and temperature variations.
The aerospace energy storage market consists of sales, by entities (organizations, sole traders, or partnerships), of aerospace energy storage that are essential for providing reliable power for propulsion, onboard systems, emergency backup, and auxiliary power needs. The market for aerospace energy storage encompasses a variety of energy storage technologies, each designed to meet the unique power requirements and operational constraints of aerospace environments.
The global aerospace energy storage market was valued at $1,540.78 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 4.00%.
Rising Adoption Of UAVs And Drones
During the historic period, the rising adoption of UAVs and drones supported the growth of the aerospace energy storage market. A UAV (Unmanned Aerial Vehicle) is an aircraft that operates without a human pilot onboard. UAVs are remotely controlled by a human operator or autonomously programmed to fly based on onboard systems. A drone is an unmanned aerial vehicle (UAV) that can be remotely controlled or fly autonomously using onboard sensors and software. The increase in adoption of UAVs and drones is primarily driven by advancements in automation and cost-effectiveness, making them more accessible and efficient across various industries. Aerospace energy storage is crucial for enhancing UAV and drone performance. Lithium-ion batteries dominate the market, but solid-state batteries, hydrogen fuel cells, and hybrid systems are emerging to meet the growing demand for longer flight times, higher power efficiency, and sustainable aviation solutions. For instance, in May 2023, according to the report published by the Federation of Aviation Administration, a US-based operating administration within the Department of Transportation (DOT), the total recreation/model fleet of SUAS (small unmanned aircraft systems) units increased from a base estimate of 1.5822 million in fiscal year 2021 to 1.6885 million in fiscal year 2022. Thus, the adoption of UAVs and drones supported the growth of the aerospace energy storage market.
Advancing Aerospace Energy Storage With 28V Lithium-Ion Batteries
Major companies operating in the aerospace energy storage market are focusing on innovative products such as 28-volt lithium-ion batteries. A 28-volt lithium-ion battery is a rechargeable battery that operates at a nominal voltage of 28 volts and is commonly used in aerospace, military, and industrial applications. It consists of multiple lithium-ion cells connected in series to achieve the required voltage. For instance, in October 2024, Saft, a wholly owned subsidiary of TotalEnergies, a US-based manufacturer of advanced battery solutions, particularly in the aerospace and defense sectors, launched The 28-volt (V) lithium-ion battery, an innovative, smart new lithium-ion (Li-ion) battery for aviation. The 28-volt lithium-ion (Li-ion) battery is a groundbreaking innovation in the aviation industry, offering significant advantages in weight reduction, energy density, total cost of ownership (TCO), and CO2 emissions. Compared to lead-acid batteries, the Li-ion battery provides over twice the energy at the same weight and one and a half times the energy at the same volume. An aircraft can reduce weight by 20 to 30 kilograms by adopting Li-ion technology, leading to improved fuel efficiency and lower CO2 emissions.
The global aerospace energy storage markets are fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 17.00% of the total market in 2023.
Aerospace Energy Storage Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global aerospace energy storage market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for aerospace energy storage? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The aerospace energy storage market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider aerospace energy storage market; and compares it with other markets.