Market Overview —
Global UAV Battery Market for is getting support from several quarters that would ensure its growth. Market Research Future (MRFR) predicts that this market will achieve a prominent CAGR to boost the valuation during the forecast period covering 2020 to 2023
Among various factors, hike in the inclusion of technologies, better funding assistance for the research and development sector, increasing inclusion of UAVs in defense, improved budgetary allocations for the defense industry, growing need for surveillance, and others are set to establish the market on the growth track. The recent COVID-19 analysis provides supportive pictures for the UAV battery market as it can benefit from the rising demand from the e-commerce sector.
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Denchi Power Limited (U.K), Sion Power Corporation (U.S.), Ballard Power Systems (Canada), Cella Energy Limited (U.K), OXIS Energy (U.K), H3 Dynamics (Singapore), Tadiran Batteries (U.S.), MicroMultiCopter Aero Technology Co. Ltd. (China), Ultracharge (Australia), and Hylium Industries INC (South Korea) are companies contributing significantly to the progress of the Global UAV Battery Market. Their strategies incorporate moves like mergers, acquisitions, innovations, better plans for the research and development sector, branding, launching strategies, and others. A better understanding of these procedures will provide an edge, and this is what MRFR had tried doing while recording the recent moves made by these companies.
In May 2020, Sion Power, a well-known company as a provider of technology in high-energy, lithium-metal rechargeable batteries, recently announced the demonstration of Licerion High Energy (HE) technology that offers specs like 500 Wh/kg and 1000 Wh/L. Licerion-HE has the ability to provide longer mission times and ensure acceptance of higher payloads for high-altitude long-endurance (HALE), high-altitude pseudo satellites (HAPS), and the other types of unmanned aerial vehicles (UAVs).
The global market for UAV is witnessing strong traction from diverse quarters. The COVID-19 impact was initially strong on the market as several sectors were forced to go into lockdowns. However, it is now getting back on track to meet the growing demand for contact-less deliveries in the e-commerce segment. Various countries are giving nods to e-commerce operators to try out this new method to reduce the disease's chances of spreading. This will require better batteries, which has led to proper funding for the product.
Global UAV Battery Market as dealt by various experts from MRFR, has been segmented in the report on the basis of battery type and UAV type. These segments are enriched with factors, graphs and charts related to investment and revenues, which will help in developing plans for the future.
By type, the global study on the UAV battery market includes MALE, HALE, tactical and small. The Medium-Altitude Long Endurance (MALE) UAV has the maximum market share. It can operate at the height of 10,000-30,000 feet, which increases its functional scope.
By battery type, the global report on the UAV battery market has been segmented into the fuel cell, lithium-ion, nickel-cadmium, and lithium polymer. The fuel cell segment is slated to hold a notable portion of the global market share. This will be driven by expenditure in research and development to increase fuel cell capacity. It has several advantages like no lubricants, low maintenance, and higher flight duration, up to 8 hours.
Provisions for better budgets, higher inclusion rates in the defense sector, and better acceptance from the e-commerce sector are expected to trigger UAV market growth, which would inspire growth for the UAV battery market. In Asia Pacific, this market will experience boost from countries like China, Japan, and South Korea.
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