Global Drone Battery Market to Grow by CAGR of ~20% During 2023 – 2033 on the Back of Escalating Demand for Drone in the Military

Research Nester published a report titled “Drone Battery Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers a detailed overview of the global drone battery market in terms of market segmentation by drone type, technology, type, component, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.

For more information’s@ https://www.researchnester.com/reports/drone-battery-market/3027

The global drone battery market is projected to grow at a CAGR of ~20% by attaining robust revenue during the forecast period, i.e., 2023 – 2033. The increasing prevalence of drones worldwide is anticipated to propel the growth of the market during the forecast period. For instance, the total revenue generated by the commercial drone sector was estimated to reach around USD 2.5 billion in 2020. Additionally, the significant requirement for drones for surveillance is further estimated to propel the market growth over the forecast period. About 31,000 drones were projected to be flying in the USA alone in 2020.

Additionally, by type the global drone battery market is segmented into fixed-wing, rotary-wing, and fixed-wing VTOL. Out of these sub-segments, the fixed-wing segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the growing requirement for transportation of items like medicines and food. It is observed that nearly 0.08 million drones were registered in the United States in 2022.

Furthermore, the global drone battery market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of the ongoing development of defense technologies. For instance, the drone segment of the United States was anticipated to generate total revenue of around USD 1 billion. 

The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.

Booming Demand in the Defense Sector to Foster the Growth of the Market

U.S. Department of Defense Organization, Defense Innovation Unit, approved 5 drones in august 2020 for military and federal application.

It is the duty of defense troops to assess and monitor the movement and every subtle activity of their enemies which is a life-threatening process. Many soldiers die in such types of missions globally, hence, drones become the best option to prevent such unfortunate deaths. Defense drones or UAVs are developed and designed to locate the vulnerable areas prone to terrorism-related challenges from the sky and deliver the information to the defense troops. Therefore, such utilization of drones is anticipated to propel the growth of the market during the forecast period.

However, the requirement for higher initial investment and constant need for expensive maintenance is expected to operate as a key restraint to the growth of the global drone battery market over the forecast period.

This report also provides the existing competitive scenario of some of the key players in the global drone battery market which includes company profiling of Oxis Energy Ltd, Amperex Technology Limited, Ballard Power Systems Inc., Yuneec Holding Ltd., Parrot Drone SAS., H3 Dynamics LLC, Skydio. Inc., Genspow GmbH, Autel Robotics Co., Ltd., and Plug Power Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global drone battery market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.     

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