Demand on the Rise Worldwide for Military Aircraft Batteries
Changing warfare strategies are driving nations to procure highly advanced next-generation aircraft, and changing market dynamics are creating demand for lightweight, fuel-efficient power sources.
The global military aircraft battery market is expected to grow at a compound annual growth rate (CAGR) of over 4% from 2017-2021, according to a recent report from Technavio. The market is segmented according to battery chemistry, which includes those batteries based on lithium, nickel, and lead-acid.
Changing warfare strategies are driving nations to procure highly advanced next-generation aircraft, and changing market dynamics are creating demand for lightweight, fuel-efficient power sources. Using alternate power generation technologies such as batteries, prime defense contractors are developing next-generation military aircraft integrated with lithium-ion (Li-ion) battery technologies. The demand for advanced fighter aircraft is driving the growth of the global military aircraft battery market.
“North America leads the global military aircraft market in terms of expenditure and technological advancements, and thus generates a very high demand for military aircraft batteries,” said Moutushi Saha, a lead analyst at Technavio for research on defense. “Although Brazil and Canada also invest in the development of these aircraft, the market is primarily dominated by the U.S. The U.S. is the largest spender in military aerospace globally, and it is estimated to spend over $260 billion by 2025.”
The growth of the market in the Americas is primarily supported by the high investment in procurement, sustainment and modernization, and R&D programs for advanced aircraft by the U.S. Department of Defense (DoD). The U.S. Air Force has also initiated the planning and design of sixth-generation fighter aircraft such as TACAIR, which is expected to be more advanced and lethal, creating the need for high-tech parts, including batteries.
Europe is currently facing a challenging security situation on many fronts. The economic and political crisis in European countries such as Greece, Ireland, Cyprus, and Ukraine, as well as violence in the Middle East and North African countries, pose multiple challenges for the militaries. European countries such as Egypt, France, Germany, Iran, Israel, Russia, Saudi Arabia, Turkey, and the UK have developed and procured a number of military aircraft to have greater control over security situations and to improve the combat readiness in times of crisis.
“Asian countries are experiencing an era of indigenization in terms of developing and manufacturing military platforms and weapons,” said Moutushi. “Countries like China and India have invested significantly in the development of newer generation aircraft to cater to their respective defense requirements due to the growing territorial disputes among the neighboring countries.”
India is in immediate need of 400 next-generation aircraft to fill the gap arising due to the aging of aircraft deployed with the Indian Armed Forces. The Indian Ministry of Defense (MoD) entered a contract with France for the acquisition of 36 Rafale multi-role aircraft. As per the agreement, the entire project will be carried out under the Make in India initiative of the Government of India. It is expected that the first batch of aircraft will be rolled out in 2022.
For additional information, visit www.technavio.com.
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