Drone Battery Global Market Report 2024

A drone battery is a critical power system that enables drones to achieve sustained flight and power their onboard systems.

In the drone battery market, various types of drones are categorized, including Medium Altitude Long Endurance (MALE), High Altitude Long Endurance (HALE), Tactical, and Small drones. MALE drones typically operate at altitudes of 10,000 to 30,000 feet, with a flight duration ranging from 24 to 48 hours. Key components of drone batteries encompass cells, Battery Management Systems (BMS), enclosures, and connectors. The market involves diverse battery types like fuel cells, lithium-ion, lithium-polymer, and nickel-cadmium. Drones serve various functions, such as special-purpose drones, passenger drones, inspection and monitoring drones, surveying and mapping drones, agriculture drones, cargo air vehicles, among others. These drones cater to end-users in commercial, military, government and law enforcement, and other sectors.

The drone battery market research report is one of a series of new reports that provides drone battery market statistics, including drone battery industry global market size, regional shares, competitors with a drone battery market share, detailed drone battery market segments, market trends and opportunities, and any further data you may need to thrive in the drone battery industry. This drone battery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The drone battery market size has grown exponentially in recent years. It will grow from $4.99 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The historical growth in the drone battery market can be attributed to factors such as expansion in the agricultural sector, supportive regulatory measures, increased defense budgets, growing recreational activities, and overall economic growth.

The drone battery market size is expected to see exponential growth in the next few years. It will grow to $13.34 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. In the forecast period, the growth of the drone battery market is expected to be driven by factors such as the expanding military and defense sector, growing investments in research and development, the surge in e-commerce activities, heightened demand for surveillance capabilities, and an overall increase in disposable income. Notable trends anticipated in this period include swift advancements in battery chemistry, enhanced battery safety and fire mitigation measures, the adoption of swappable battery systems, the integration of wireless charging technologies, and the implementation of artificial intelligence in battery management.

The growth of the drone batteries market is anticipated to be propelled by the increased adoption of drones for both commercial and defense applications. Drones play a crucial role in various sectors, including threat detection, risk assessment in remote locations, reconnaissance missions, monitoring illegal activities, and crime control. Goldman Sachs, a US-based investment banking company, projects that the drone sector will achieve a market value of $100 billion by 2022, underscoring the rising significance of drone applications. Consequently, the expanding utilization of drones in commercial and defense contexts is a key driver for the growth of the drone battery market.

The drone batteries market is set to experience growth due to heightened investment in the defense sector. This involves the allocation of financial resources for the development, production, and procurement of military equipment, technology, and services. Advanced batteries ensure a continuous and reliable power supply, enabling drones to execute complex missions with precision. Battery-powered drones offer the capability to transmit real-time data, providing crucial intelligence to military forces on the ground. According to the Stockholm International Peace Research Institute, global military spending reached an unprecedented $2.1 trillion in 2021, representing a 0.7% increase in real terms. This substantial investment in the defense sector contributes significantly to the growth of the drone batteries market.

A prominent trend gaining traction in the drone batteries market is the formation of strategic partnerships. Major companies operating in this sector are actively engaging in partnerships to address consumer demand and fortify their market position. As an illustration, in March 2021, Axon, a US-based provider of electronic control devices, entered into a partnership with Skydio, a US-based drone manufacturer. This collaboration facilitates the availability of Skydio's autonomous drones to law enforcement and emergency services through Axon's unmanned aircraft program, Axon Air. Strategic partnerships emerge as a key driver in meeting market demands and enhancing the overall competitiveness of companies in the drone batteries sector.

Prominent players in the drone batteries market are concentrating on the introduction of cutting-edge solutions, such as the LIPO HV battery, to gain a competitive advantage. These advanced drone batteries are designed to elevate the performance of drones across diverse sectors, including military operations, agriculture, construction, logistics, and surveillance. A notable example is Neuron Energy Pvt. Ltd., an India-based manufacturer of intelligent electric vehicle (EV) batteries. In October 2023, the company launched the LIPO HV Battery, specifically tailored for electric drones. This innovative product caters to the evolving needs of India's expanding drone sector, encompassing applications like distribution and logistics, aerial photography, and survey mapping. Neuron's LIPO HV battery packs, featuring an XT90 anti-spark plug optimized for unmanned aerial vehicles (UAVs), deliver exceptional efficiency, empowering drones with the requisite power for smooth operation. With a 10°C discharge rate and a 20°C maximum burst discharge rate, these battery packs ensure reliable power delivery for a range of drone applications.

In a strategic move in March 2022, Reliance New Energy Limited, the clean energy subsidiary of India-based Reliance Industries Limited (RIL), acquired all assets of Lithium Werks BV for $61 million. This acquisition represents an expansion of Reliance's technological portfolio, providing access to one of the world's largest portfolios of lithium ferrophosphate (LFP) patents. Additionally, it brings on board a management team with extensive expertise in developing innovative solutions for custom modules, packing, and constructing large-scale battery manufacturing facilities. Lithium Werks BV, based in Belgium, is a leading producer of various battery solutions for diverse drone applications, encompassing lithium-ion batteries, lithium-polymer batteries, and LiFePO4 batteries. This strategic acquisition positions Reliance New Energy Limited to further strengthen its presence in the drone batteries market and enhance its capabilities in providing advanced energy solutions for evolving drone technologies.

Major companies operating in the drone battery market include Amperex Technology Limited, Skydio Inc., Yuneec International Co. Ltd., SolidEnergy Systems Corporation, Genspow GmbH, H3 Dynamics Holdings Pte Ltd., Plug Power Inc., Epsilor Electric Fuel Ltd., Shenzhen Grepow Battery Co Ltd., EaglePicher Technologies LLC, RRC power solutions GmbH, Proflight Zambia Limited, Amicell-Amit Industries Limited, UVify Inc., Zhejiang Gens Ace Technology Co. Ltd., Intelligent Energy Holdings PLC, Ballard Power Systems Inc., Cella Energy Limited, Denchi Power Ltd., Kokam Co. Ltd., OXIS Energy Ltd., Sion Power Corporation, Tadiran Batteries GmbH, Autel Robotics USA LLC, Parrot SA, Venom Group International, SZ DJI Technology Co. Ltd., Doosan Mobility Innovation Inc., HES Energy Systems Ltd., Envision AESC Group Limited

North America was the largest region in the drone battery market in 2023. North America is expected to be the fastest-growing region in the drone battery market share during the forecast period. The regions covered in the drone battery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the drone battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The drone battery market consists of sales of rechargeable batteries for drones. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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