Drone Battery Market Trends, Analysis, Top Players 2021-2031
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.
Drone Battery Market Analysis
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 Battery Market Overview
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.
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Drone Battery Market: Strategic Insights
Market Size Value in US$ 994.97 million in 2022 Market Size Value by US$ 2,450.56 million by 2028 Growth rate CAGR of 16.2% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Drone Battery Market: Strategic Insights
![drone-battery-market](https://www.theinsightpartners.com/assets/rdimages/drone-battery-market-img1.png)
Market Size Value in | US$ 994.97 million in 2022 |
Market Size Value by | US$ 2,450.56 million by 2028 |
Growth rate | CAGR of 16.2% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
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Drone Battery Market Drivers and Opportunities
Technological Advancements in Lithium Batteries for Drones
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.
Development of Cutting-Edge Technologies Associated with Drone Batteries
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.
Drone Battery Market Report Segmentation Analysis
Key segments that contributed to the derivation of the drone battery market analysis are drone type, battery type, battery capacity, and industry.
- Based on the drone type, the drone battery market is divided into mini quad and micro quad. The mini quad segment held a larger market share in 2023.
- By battery type, the market is segmented into NiCad, NiMH, and LiPo.
- By battery capacity, the market is segmented into below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, and Above 10,000 mAh.
- By industry, the market is segmented into agriculture & forestry, infrastructure inspection, utilities, construction, mining, and others.
Drone Battery Market Share Analysis by Geography
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.
Drone Battery Market Report Scope
Drone Battery Market News and Recent Developments
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:
- RRC Power Solutions GmbH adopted a dual-sourcing strategy to prevent supply shortages. The strategy helps the company develop existing standard battery packs like the RRC2054 and plan product launches with shorter delivery times. (Source: RRC Power Solutions GmbH, Press Release, May 2022.)
- EaglePicher Technologies provided essential battery technology to power both the Orion spacecraft crew module and the Space Launch System (SLS) flight termination system used in NASA’s Artemis I Launch. EaglePicher Technologies provides 120-volt rechargeable lithium-ion batteries that power the crew module, which consists of communications, propulsion, navigation, and thermal control. (Source: EaglePicher Technologies, Press Release, August 2023)
Drone Battery Market Report Coverage and Deliverables
The “Drone Battery Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Drone battery market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Drone battery market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- drone battery market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the drone battery market
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Drone Type, Battery Type, Battery Capacity, and Industry
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
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.
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.
North America dominates the drone battery market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.