Aircraft Energy Storage System Market Report 2024 (Global Edition)

Global Aircraft Energy Storage System Market Report 2024 Market Size Split by Type (Batteries, Fuel Cells, Flywheels, Supercapacitors, Others), by Application (Commercial Aircraft, Military Aircraft, ...

Aircraft Energy Storage System Market Report Description

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Competitive Landscape of the Aircraft Energy Storage System Market

The major competitors quickly adopt new techniques to gain a competitive advantage and take a sizable portion of the market. Expanding inventive offers to serve a large consumer base and acquire a competitive advantage is emphasized by the leading players in the aviation energy storage system market.

• March 2023, the Swedish manufacturer of electric aircraft, Heart Aerospace, and BAE Systems will work together to specify the battery system for Heart's ES-30 regional electric aircraft. The battery, which enables efficient operation with zero emissions and little noise, will be the first of its kind to be fitted into an electric conventional takeoff and landing (eVTOL) regional aircraft.

(Source:heartaerospace.com/newsroom/bae-systems-and-heart-aerospace-to-collaborate-on-battery-for-electric-airplane/)

Top Companies Market Share in Aircraft Energy Storage System Industry: (In no particular order of Rank)

• Airbus SE
• Thales Group
• Saft Groupe SA
• Honeywell International Inc.
• EnerSys
• Concorde Battery Corporation
• GE Aviation
• Liebherr Group
• Boeing
• SIFCO Industries
• Rolls-Royce plc
• Avidyne Corporation
• Maxwell Technologies Inc.
• United Technologies Corporation
• Lithiumstart Inc.
• Cobham Limited
• Raytheon Company
• Whelen Engineering
• Enersys Ltd
• Safran S.A.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

North America dominated the market in 2023 and accounted for around 40% of the global revenue

As per Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue; the region's dedication to technical innovation, strict environmental rules, and a thriving aviation industry all contribute to the market's expansion. With an emphasis on producing more electric airplanes, North America is shaping the adoption of innovative energy storage technologies, supporting sustainability, and improving air travel efficiency.

Europe is the fastest-growing category. With strict environmental restrictions and a concentration on aircraft electrification, the region is a leader in adopting innovative energy storage technologies. European initiatives and investments help to develop efficient and environmentally friendly solutions, positioning Europe as a key player in influencing the future of the aircraft energy storage system market.

The current report Scope analyzes Aircraft Energy Storage System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Aircraft Energy Storage System Market

According to Cognitive Market Research, the global Aircraft energy storage system market size was estimated at USD XX Billion, out of which North America held the major market of more than 40% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. North America's aircraft energy storage system market is a driving force within the aviation industry, distinguished by a strong dedication to technological improvements and sustainability. The market overview emphasizes North America's status as a pioneer in influencing the landscape of aeroplane energy storage technologies. A substantial sector of this market revolves around innovative technologies in new aircraft designs by Original Equipment Manufacturers (OEMs), which aligns with the region's emphasis on fuel efficiency and environmental stewardship. As North America prioritizes innovation and environmental sustainability, the aircraft energy storage system market continues to play an important role in propelling the industry toward more electric aircraft and reaffirming the region's pivotal role in influencing the global adoption of cutting-edge energy storage technologies.

Europe Aircraft Energy Storage System Market

According to Cognitive Market Research, the global Aircraft energy storage system market size was estimated at USD XX Billion, out of which Europe has a market value of USD XX billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030, Europe accounted for the majority of global revenue, accounting for over 30% of the total, Europe is a market leader in aircraft energy storage systems, demonstrating a strong commitment to sustainability and technological innovation in the aviation sector. The market analysis highlights Europe's proactive approach to implementing innovative energy storage technologies to improve aircraft economy and lower environmental impact. European OEMs are integrating novel energy storage technology into new aircraft designs, reflecting the region's emphasis on environmental responsibility. As Europe sets the standard for severe environmental legislation and industry-wide electrification initiatives, the aircraft energy storage system market determines the region's aviation future, contributing to a more sustainable and environmentally friendly air transport landscape. 

Asia Pacific Aircraft Energy Storage System Market

According to Cognitive Market Research, the global Aircraft energy storage system market size was estimated at USD XX Billion, out of which Asia Pacific held a considerable market share in 2023, accounting for more than 22% of the global revenue with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2023 to 2030. The Asia Pacific area is emerging as a dynamic force in the aeroplane energy storage system market, owing to the region's increasing aviation sector and a growing emphasis on sustainability. The market overview emphasizes Asia Pacific's growing involvement in implementing cutting-edge energy storage systems to keep up with global aviation trends. The aftermarket sector is an important part of this industry, with a growing need to upgrade current fleets with modern energy storage technologies. As the Asia Pacific region continues to experience technological advancements and an increase in air travel demand, the aircraft energy storage system market will play a critical role in shaping the region's aviation landscape, contributing to efficiency, reduced emissions, and overall progress in sustainable air transportation.

South America Aircraft Energy Storage System Market

According to Cognitive Market Research, the global Aircraft energy storage system market size was estimated at USD XX Billion, out of which Latin America accounted for more than 5% of the global aircraft energy storage system revenue in 2023 with a market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030. The aeroplane energy storage system market is critical in Latin America, reflecting the region's aspirations to connect with global environmental goals. The market analysis highlights Latin America's growing importance in implementing innovative energy storage technologies to improve aircraft efficiency and reduce environmental impact. A significant market component is general aviation, with a growing demand for lightweight and efficient energy storage technologies. As Latin America navigates advancements in aviation technology and environmental awareness, the aircraft energy storage system market becomes increasingly important in contributing to the region's environmentally friendly air travel goals, fostering a more sustainable future for the Latin American aviation industry.

Middle East and Africa Aircraft Energy Storage System Market

According to Cognitive Market Research, the global Aircraft energy storage system market size was estimated at USD XX Billion, out of which the Middle East and Africa accounted for more than 3% of the global revenue in 2023, with market size of USD XX billion in 2023 and will grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2030 The airplane energy storage system market is strategically important in the Middle East and Africa, indicating the region's dedication to advancing aviation technology and sustainability. The market analysis emphasizes the Middle East and Africa's growing significance in implementing novel energy storage systems to meet global aviation regulations. Commercial aeroplanes are an important component of this industry, with an emphasis on incorporating modern energy storage technology for greater fuel efficiency. As the region's air travel demand grows and aviation fleets modernize, the aircraft energy storage system market becomes increasingly important in shaping the Middle East and Africa's aviation industry's trajectory, contributing to efficiency, environmental responsibility, and the overall advancement of sustainable air transportation.

Aircraft Energy Storage System Market Analysis

Aircraft Energy Storage System Type Segment Analysis

According to Cognitive Market Research, batteries held the major market share over the forecast period. New battery technology will be critical as the aviation industry promotes electrification for decreased emissions and increased efficiency. Lithium-ion and developing energy-dense batteries are especially helpful, enabling lightweight and compact solutions to power auxiliary systems and promoting the emergence of more electric aircraft, in line with the industry's commitment to sustainability and innovation.

Fuel cells are the fastest-growing category over the forecast period. In particular, hydrogen fuel cells provide a clean energy source for more electric aircraft, minimizing environmental effects. Because of their small weight and efficient energy conversion, they are valuable for auxiliary power and propulsion, propelling aviation innovation toward sustainable solutions and reducing dependency on traditional fossil fuels.

• Batteries
• Fuel Cells
• Flywheels
• Supercapacitors
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aircraft Energy Storage System Industry. Request a Free Sample PDF!

Aircraft Energy Storage System Application Segment Analysis

According to Cognitive Market Research, commercial aircraft hold a prominent market share. Advanced energy storage technologies, such as batteries and fuel cells, are being integrated into commercial aircraft to power auxiliary systems as the aviation industry promotes fuel efficiency and environmental sustainability. This push for more electric aircraft improves overall efficiency, lowers emissions, and fits with worldwide initiatives to develop a more sustainable aviation industry.

General aviation is the fastest-growing category over the forecast period. As the aviation industry embraces electrification and sustainable technology, energy storage devices are becoming increasingly important for powering auxiliary systems in smaller aircraft. The demand for lightweight and efficient energy solutions in general aviation promotes innovation, contributing to improved efficiency, decreased environmental impact, and breakthroughs in environmentally friendly air travel.

• Commercial Aircraft
• Military Aircraft
• General Aviation
• Unmanned Aerial Vehicles

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Aircraft Energy Storage System Function Segment Analysis

According to Cognitive Market Research, power management holds a prominent market share. Advanced power management technologies improve overall system performance by enabling efficient control and stored energy utilisation. As the aviation sector pursues electrification and efficiency, novel power management solutions play a critical role in shaping the market for aircraft energy storage systems.

Mission critical systems is the fastest-growing category over the forecast period. The aircraft energy storage system market is driven by mission-critical systems, highlighting the need for reliable and efficient power solutions in aviation. Critical for safety and performance, these systems necessitate extensive energy storage capabilities. Advanced energy storage technologies enable mission-critical avionics to operate seamlessly, providing optimal performance and responsiveness. The aviation industry's dedication to raising safety standards and meeting the demands of increasingly sophisticated and technologically advanced aircraft systems drives the market's progress.

• Power Management
• Backup Power
• Mission Critical Systems
• Emergency Systems

Aircraft Energy Storage System End-User Segment Analysis

According to Cognitive Market Research, aftermarket holds a prominent market share. As the aviation industry transitions to more electric aircraft, there is a growing demand for improved energy storage systems to upgrade existing fleets. Upgrading older airplanes with lightweight and efficient equipment improves performance, lowers operational costs, and coincides with industry sustainability trends. The aftermarket's role is critical in facilitating the widespread adoption of novel energy storage systems across various aircraft types.

The original equipment manufacturer is the fastest-growing category over the forecast period. As OEMs prioritize fuel efficiency and environmental sustainability, developing and incorporating efficient energy storage devices such as batteries and fuel cells becomes critical. This proactive strategy ensures that freshly manufactured aircraft help the industry achieve its goals of enhanced efficiency and reduced environmental impact.

• Original Equipment Manufacturer
• Aftermarket

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

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