Report : Europe Drone Lithium Battery Market Forecast to 2030 - Regional Analysis - by Battery Type (Li-ion, Li-Po, and Li-S), Battery Capacity (Below 3,000 mAh; 3,000-5,000 mAh; and Above 5,000 mAh), Drone MTOW (Below 100 Kgs, 100-200 Kgs, and Above 200 Kgs), Wing Type (Fixed Wing and Rotary Wing), and End Use (Military and Commercial)
At 15.5% CAGR, Europe Drone Lithium Battery Market is Speculated to be Worth US$ 3,630.29 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe drone lithium battery market was valued at US$ 1,148.81 million in 2022 and is expected to reach US$ 3,630.29 million by 2030, registering a CAGR of 15.5% from 2022 to 2030. Growing number of drone start-ups and technological advancements in lithium batteries for drones are among the critical factors attributed to drive the Europe drone lithium battery market growth.
When drones were first introduced, they were strictly used for military purposes, such as training, target practices, air strikes, bomb detection, surveillance, and more. With technology advancements, drones are being adopted in several industries. Drones have now gained attention in construction, agriculture, mining, entertainment, photography, and other sectors, which have gained the attention of entrepreneurs to bring drone solutions into the market. Therefore, there is a rise in drone start-ups across various regions to meet the demand for drones. For instance, there was an increase of ~34% in the number of drone start-ups in India, with 220 drone start-ups between August 2021 and February 2022. Further, the US leads the world in drone market share at the national level in the 2022 drone market map, with a total 337 (31.3%), followed by the UK, Germany, France, and Switzerland.
The rising use of drones across various industries and the growing number of competitors will encourage start-ups to come up with cost-efficient and better solutions. They try to reach more industries and customers by increasing their production of drones that can be used across several industries. The production of drones is directly proportional to the production of drone batteries. Thus, the growing number of drone start-ups will create a lucrative opportunity for the drone lithium battery market.
On the flip side, restriction on transport of lithium batteries hampers the growth of Europe drone lithium battery market.
Based on battery type, the Europe drone lithium battery market is categorized into Li-ion, Li-Po, and Li-S. The Li-Po segment held 86.2% market share in 2022, amassing US$ 990.64 million. It is projected to garner US$ 3,174.13 million by 2030 to register 15.7% CAGR during 2022-2030.
In terms of battery capacity, the Europe drone lithium battery market is segmented into below 3,000 mAh, 3,000-5,000 mAh, and 3,000-5,000 mAh. The below 3,000 mAh segment held 41.7% share of Europe drone lithium battery market in 2022, amassing US$ 478.49 million. It is anticipated to garner US$ 1,614.09 million by 2030 to expand at 16.4% CAGR during 2022-2030.
By drone MTOW, the Europe drone lithium battery market is divided into below 100 Kgs, 100 - 200 Kgs, and above 200 Kgs. The below 100 Kgs segment held 66.9% share of Europe drone lithium battery market in 2022, amassing US$ 768.65 million. It is projected to garner US$ 2,341.31 million by 2030 to expand at 14.9% CAGR from 2022 to 2030.
By wing type, the Europe drone lithium battery market is bifurcated into fixed wing and rotary wing. The rotary wing segment held 63.0% share of Europe drone lithium battery market in 2022, amassing US$ 723.81 million. It is projected to garner US$ 2,235.93 million by 2030 to expand at 15.1% CAGR from 2022 to 2030.
By end use, the Europe drone lithium battery market is bifurcated into commercial and military. The commercial segment held 61.6% share of Europe drone lithium battery market in 2022, amassing US$ 707.26 million. It is projected to garner US$ 2,166.72 million by 2030 to expand at 15.0% CAGR from 2022 to 2030. Further, the military segment is sub segmented into ISR, warfare, and others.
Based on country, the Europe drone lithium battery market is categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 23.4% share of Europe drone lithium battery market in 2022. It was assessed at US$ 268.36 million in 2022 and is likely to hit US$ 746.39 million by 2030, registering a CAGR of 13.6% during 2022-2030.
Key players operating in the Europe drone lithium battery market are LG Chem Ltd, Parrot drone SAS, Upergy Ltd, RRC Power Solutions GmbH, Shenzhen Grepow Battery Co Ltd, and Steatite Ltd., among others.
- In September 2022, RRC Power Solutions GmbH is adopting a dual-sourcing strategy to prevent supply shortages. The strategy helps the company develop existing standard battery packs like the RRC2054 and plan product launches with shorter delivery times.
- In August 2022, Drone Battery 3.0 Era (G3 for short). 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.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com