NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The commercial aircraft battery management system market size is expected to grow by USD 137.4 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 7.98% during the forecast period. The market is segmented by Product (Centralized, Modular, and Primary and distributed), Type (Lithium-ion, Nickel-cadmium, and Lead-acid), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The rising electrification of aviation drives market growth. Generally, various electric and hybrid-electric aircraft rely on advanced battery technology. This can be particularly observed in lithium-ion or other high-energy-density batteries. They require sophisticated battery management systems to ensure safe and efficient operation. Owing to the higher power demands, electric and hybrid-electric aircraft have more complex battery systems, which necessitates advanced BMS solutions that can manage multiple battery modules, optimize energy use, and monitor performance. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the commercial aircraft battery management system market: Acme Aerospace Inc and Avionic Instruments LLC, AXTER AEROSPACE S.L., Concorde Battery Corp., Creare LLC, EaglePicher Technologies LLC, Elithion Inc., EnerSys, Kanto Aircraft Instrument Co. Ltd., MarathonNorco Aerospace Inc., MGM COMPRO International s. r. o., Mid Continent Instrument Co. Inc., PIPISTREL doo, Silicon Engineering Pty Ltd., Thales Group, and TotalEnergies SE
- Commercial Aircraft Battery Management System Market is fragmented in nature.
- Market to observe 7.46% YOY growth in 2024.
Market Dynamics:
Trend
- The rising adoption of fuel cells is an emerging market trend.
- An electrochemical device that basically uses hydrogen and oxygen from the air to produce electricity, releasing water and heat as its by-products is called a fuel cell.
- Hydrogen is generally sourced from fossil fuels, which can also be produced by the electrolysis of water.
- Furthermore, given the stored reactants in a battery are used up, a fuel cell continues to work as long as its external fuel supply lasts.
Challenge
- The lack of proper battery management system standards challenges market growth.
- Li-ion batteries are one of the most appropriate technological solutions for electric aircraft, as they offer advantages, such as power density and improved charging cycle life.
- In contrast, these batteries require proper monitoring and protection to operate within optimum working conditions.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
- The centralized segment is significant during the forecast period. The health of individual batteries and battery modules within the aircraft's battery systems is continuously monitored using this segment. The centralized segment records real-time data related to battery performance, which is valuable for monitoring, analysis, and maintenance. Furthermore, this data can be used to predict when maintenance is required and assess battery performance over time.
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Related Reports:
The aviation battery market size is estimated to grow at a CAGR of 7.26% between 2022 and 2027. The market size is forecast to increase by USD 317.81 million.
The fuel cells for military unmanned aerial vehicle (UAV) market size is estimated to grow at a CAGR of 9.82% between 2023 and 2028. The market size is forecast to increase by USD 232.91 million.
Commercial Aircraft Battery Management System Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.98% |
Market growth 2024-2028 |
USD 137.4 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.46 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Canada, China, France, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acme Aerospace Inc and Avionic Instruments LLC, AXTER AEROSPACE S.L., Concorde Battery Corp., Creare LLC, EaglePicher Technologies LLC, Elithion Inc., EnerSys, Kanto Aircraft Instrument Co. Ltd., MarathonNorco Aerospace Inc., MGM COMPRO International s. r. o., Mid Continent Instrument Co. Inc., PIPISTREL doo, Silicon Engineering Pty Ltd., Thales Group, and TotalEnergies SE |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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