The drone battery market size is projected to reach US$ 3982.83 million by 2031 from US$ 1199.76 million in 2023. The market is expected to register a CAGR of 16.2 % during 2023–2031. Increasing focus on research and development of high-performance drones is likely to remain a key trend in the market.
The global drone battery market is mostly driven by the rising adoption of drones in a variety of applications such as surveying, mapping, and monitoring. Additionally, the increasing number of drone start-up businesses is driving the expansion of the drone battery market globally. For example, the total number of drone start-ups in India increased by 34% between August 2021 and February 2022. Such factors are providing opportunities for the drone battery market in India.
Drone batteries are rechargeable batteries that can be used for drones. They are generally made of Lithium-ion Polymer (Li-ion) or Lithium Polymer (LiPo) and come in various sizes and capacities. Drone batteries are necessary for longer flight times, and they pose a possible fire hazard if not properly handled. The type of batteries your drone uses can be an important factor in how the drone functions, including the time it takes to charge between uses and the rate of discharge. The most widely used drone batteries are Lithium Polymer (LiPo), Nickel Cadmium (NiCad), and Lithium-ion (Li-ion) batteries.
Drones have been experiencing notable growth globally over the past few years. Due to increased border security and enemy trespassing, several governments and companies focus on procuring UAVs. For instance, in 2022, the Federal Aviation Administration (FAA) reported that 855,860 drones were registered in the US in 2023. Therefore, with the increasing demand for drones, the battery market is expected to continue to grow significantly during the forecast period. Further, increasing country-specific drone associations such as the recently formed Czech Unmanned Aerial Alliance, l’Association du drone de l’industrie française (ADIF) in France, and numerous others in Asia, including Korea Drone Industry Association, the Korea Drone Association, Shenzhen UAV Industry Association, and the Japan UAS Industrial Development Association is also supplementing the growth of drone battery market.
The market players are continuously developing batteries with lower internal resistance by raising their charging voltage. These batteries will support drones with higher density, higher cell capacity, lower mass, and maximum power density required for longer flight times. Manufacturers such as Amprius Technologies and KULR TECHNOLOGY GROUP, INC. are also developing next-generation batteries with an energy density of 400 Wh/kg and a charge/discharge cycle of at least 1,000 times. Thus, the development of cutting-edge technologies associated with drone batteries is anticipated to generate lucrative opportunities for market growth during the forecasted period.
Key segments that contributed to the derivation of the drone battery market analysis are drone type, battery type, battery capacity, and industry.
The geographic scope of the drone battery market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America dominates the drone battery market. These investments and funding are expected to help drone providers expand their businesses and provide solutions to end users from various sectors. The growing demand for drones propels the need for batteries in North America, which is likely to benefit the drone battery market in the region.
The regional trends and factors influencing the Drone Battery Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Drone Battery Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1199.76 Million |
| Market Size by 2031 | US$ 3982.83 Million |
| Global CAGR (2023 - 2031) | 16.2 % |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Drone Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Drone Battery Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Drone Battery Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The drone battery market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the drone battery market are listed below:
The “Drone Battery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America dominates the drone battery market.
Technological advancements in lithium batteries for drones and the development of cutting-edge technologies associated with drone batteries are the major factors that propel the global drone battery market.
The key players holding majority shares in the global drone battery market are AMIT Industries L.T.D, Amperex Technology Limited, Autel Robotics, MMC-UAV, SES AI Corporation, Parrot Drone SAS, Maxamps, Shenzhen Grepow Battery Co, DJI, and RRC Power Solutions.
Increasing focus on research and development of high-performance drones is anticipated to play a significant role in the global drone battery market in the coming years.
The expected CAGR of the global drone battery market is 16.2 %.
The global drone battery market is expected to reach US$ 3982.83 million by 2031.