The drone lithium battery market size is expected to grow from US$ 4.07 billion in 2022 to US$ 12.65 billion by 2030; it is estimated to record a CAGR of 15.2% from 2022 to 2030.
Analyst Perspective:
In recent years, drone manufacturers have emphasized the development of drone batteries that are energy-efficient, lightweight, cost-effective, and capable of carrying greater payloads over longer distances. Technological advancements in electronics, such as mobile hardware, modern computing, processors, microcontrollers, and cameras, drive the demand for commercial drone by promoting the drone lithium battery market share. Lithium-ion batteries have a higher energy density than other battery types such as nickel-cadmium or lead-acid. These batteries can stock more energy per unit of weight for drones that fly for extended periods. Further, Li-ion batteries have an extensive lifespan compared to other battery types, which means they can be recharged multiple times before replacement. Thus, driving the drone lithium battery market growth substantially.
Additionally, the availability of more affordable and compact models of drone lithium batteries is boosting the drone lithium battery market growth. India, Mexico, Brazil, and several other nations have also increased the use of drones in military and commercial applications such as intelligence gathering, surveillance, computers, command, control, and recognizing tasks. Thus, all these factors are likely to bring new market trends in the drone lithium battery market growth during the forecast period.
Market Overview:
Drones, also known as unmanned aerial vehicles (UAV), are aircraft without pilots on board. A drone battery is one of the most significant components in any drone system. It delivers multiple power sources to the propellers for the drone to take flight for a limited period (~25–30 mins). Lithium-ion batteries are one of the most commonly used battery types across the small drone (mini and micro) industry. Lithium batteries, such as lithium-ion, lithium polymer, and lithium sulfur, are used for powering drones and making them capable of operating in a hazardous environment. Moreover, nations such as the US, China, and Japan are making significant investments in the development of cost-effective drone batteries such as lithium-sulfur. The growing adoption of drones to reduce the number of fatalities and gain real-time data is fuelling drone lithium battery market share. Drone lithium batteries offer several benefits, including durability, longer run time, high density, and sustainable solutions over other batteries. The global drone lithium battery market is primarily driven by the growing adoption of drones in a variety of applications such as mapping, surveying, and monitoring.
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Drone Lithium Battery Market: Strategic Insights
Market Size Value in US$ 4.07 billion in 2022 Market Size Value by US$ 12.65 billion by 2030 Growth rate CAGR of 15.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Drone Lithium Battery Market: Strategic Insights
| Market Size Value in | US$ 4.07 billion in 2022 |
| Market Size Value by | US$ 12.65 billion by 2030 |
| Growth rate | CAGR of 15.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Technological Advancements in Lithium Batteries for Drones Drives Drone Lithium Battery Market
Lithium batteries have arisen as the frontrunners in the ever-evolving landscape of energy storage technology, providing compact and efficient power solutions for an extensive range of applications. Among these, lithium-polymer (Li-Po) and lithium-ion (Li-ion) batteries have established themselves as protuberant choices for power delivery and energy storage for numerous industries. Since the Second World War, UAVs or drones were principally associated with defense and the military. They were used for aerial surveillance, anti-aircraft target practice, intelligence gathering, weaponry, and artillery spotting. Primarily developed for military and law enforcement purposes, drones rapidly found their way into the commercial and civilian sectors, owing to technological advancements that made them more reasonably priced, accessible, and capable, is driving the drone lithium battery market size. In October 2023, Amazon Pharmacy announced the launch of its first drone delivery in College Station, Texas. With this, Amazon packages will be dropped by drones within 60 minutes of being ordered via Amazon Pharmacy. Similarly, in October 2023, an electronics and telecom manufacturing company, Optiemus Infracom, entered the unmanned systems market by launching its drones, which were designed and manufactured in India. The company showcased its diverse range of drones at the India Mobile Congress 2023, featuring progressive technologies, a secure communication system, advanced sensors, and stringent safety protocols. Thus, driving the drone lithium battery market.
Report Segmentation and Scope:
The drone lithium battery market forecast involves the segmentation of the market based on battery type, battery capacity, drone MTOW, wing type, end use, and geography. Based on battery type, the drone lithium battery market forecast is segmented into Li-ion, Li-Po, and Li-S. In terms of battery capacity, the drone lithium battery market analysis is done on 3,000 mAh; 3,000–5,000 mAh; and above 5,000 mAh. On the basis of drone MTOW, the market is categorized into 100 Kgs, 100–200 Kgs, and above 200 Kgs. Based on wing type, the drone lithium battery market analysis is done on fixed wing and rotary wing. In terms of end use, the market is bifurcated into military and commercial. Geographically, the drone lithium battery market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
Based on battery type, the drone lithium battery market analysis done for Li-ion, Li-Po, and Li-S. The Li-Po segment held the largest drone lithium battery market share in 2022 and is likely to grow during the forecast period. Lithium Polymer (Li-Po) batteries are most frequently used in the drone industry owing to their high discharge rate. These batteries are rechargeable, can maintain the highest voltage, and are capable of working high power applications such as radio-controlled drones and aircraft. Over the last few years, lithium polymer batteries have gained popularity in the radio control industry due to their unsuppressed performance and high energy density. Lithium polymer batteries are lightweight batteries that keep drones in the air without adding excessive weight or mass that may hinder their mobility. In addition, these batteries have higher voltage stability over a wider temperature range and offer a high level of current output that keeps drones operating for longer flights, which increases their adoption among the military and aircraft industries. Major aerospace companies, such as Lockheed Martin Corporation; Boeing; NASA; and Blue Origin, LLC, are increasingly incorporating Li-Po batteries to enhance drone performance in aerial photography or surveillance.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
North America was estimated to be among the prominent regions in the drone lithium battery market in 2022. This is due to several small drone manufacturing companies within countries such as the US and Canada. A few major regional drone manufacturers include Freefly Systems, FLIR, and Dragonfly. These companies constantly manufacture new drone products to remain competitive in their respective marketplace. The US has already banned the sale of China-based products, which is attributed to be one of the major factors for the low penetration of China-based drone companies in the US market.
North America has a well-developed aerospace & defense sector. In September 2023, Amprius and Tenergy launched a revolutionary high-performance drop-in drone battery pack that is 31% lighter than competing products in the drone lithium battery market; also, the pack has a 6% greater energy capacity than other products. The drone lithium battery market players significantly investing to increase their share in the global drone lithium battery market.
- In October 2021, DroneBase, a company providing drones for aerial imaging, raised US$ 20 million for the global expansion of its business in the renewable energy industry and other industries. Through its products, the company helps reduce risks by enabling the continuous monitoring of various fields.
- In June 2021, Skyfish, a drone manufacturer, received US$ 20 million from venture-backed Series Seed funding. The company specializes in providing drone solutions for precise data collection and analysis for critical situations. The funding helped it expand its portfolio of solutions to various sectors.
Key Player Analysis:
The drone lithium battery market report emphasizes the key factors driving the market and prominent players' developments LG Chem Ltd, Parrot Drone SAS, UPERGY Ltd, Max Amps Inc, DNK Power Co Ltd, EaglePicher Technologies LLC, CTECHi Technology Co Ltd, RRC Power Solutions GmbH, Shenzhen Grepow Battery Co Ltd, and Steatite Ltd are among the prominent players profiled in the drone lithium battery market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The drone lithium battery market forecast can help stakeholders in this marketplace plan their growth strategies.
Recent Developments:
The drone lithium battery market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:
- In November 2023, EaglePicher Technologies announced its plan to provide essential battery technology to power both the Orion spacecraft crew module and the Space Launch System (SLS) flight termination system used in NASA’s Artemis I Launch. EaglePicher Technologies provides 120-volt rechargeable lithium-ion batteries that power the crew module, which consists of communications, propulsion, navigation, and thermal control.
- In September 2023, EaglePicher Technologies was selected by Saab AB to develop and manufacture lithium-ion main and emergency batteries used in E-series fighter aircraft. The new 24-volt, 36 amp-hour lithium-ion main and emergency batteries add robustness and improve redundancy on the Gripen E-series. The batteries power avionics and weapon systems to deliver enhanced, instantaneous power for engine start in austere and cold-weather operations.
- In September 2022, RRC Power Solutions GmbH adopted a dual-sourcing strategy to prevent supply shortages. The strategy helps the company develop existing standard battery packs, such as the RRC2054, and plan product launches with shorter delivery times.
- In August 2022, Shenzhen Grepow Battery Co Ltd launched a new concept—Drone Battery 3.0 Era (G3 for short)—to redefine the industry standard of customized drone batteries.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Battery Type, Battery Capacity, Drone MTOW, Wing Type, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global drone lithium battery market was estimated to be US$ 4.07 billion in 2022 and is expected to grow at a CAGR of 15.2% during the forecast period 2023 - 2030.
The technological advancements in lithium batteries for drones and increase in applications of drones across different industries are the major factors that propel the global drone lithium battery market.
Increasing focus on research and development of high-performance drones is anticipated to play a significant role in the global drone lithium battery market in the coming years.
The key players holding majority shares in the global drone lithium battery market are LG Chem Ltd, Parrot Drone SAS, UPERGY Ltd, Max Amps Inc, DNK Power Co Ltd, EaglePicher Technologies LLC, CTECHi Technology Co Ltd, RRC Power Solutions GmbH, Shenzhen Grepow Battery Co Ltd, and Steatite Ltd.
The global drone lithium battery market is expected to reach US$ 12.65 billion by 2030.
The incremental growth expected to be recorded for the global drone lithium battery market during the forecast period is US$ 8.57 billion.
The List of Companies - Drone Lithium Battery Market
- LG Chem Ltd
- Parrot Drone SAS
- UPERGY Ltd
- Max Amps Inc
- DNK Power Co Ltd
- EaglePicher Technologies LLC
- CTECHi Technology Co Ltd
- RRC Power Solutions GmbH
- Shenzhen Grepow Battery Co Ltd
- Steatite Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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