Commercial Aircraft Battery Management System Market to grow by USD 137.4 million during 2023-2028, The rising electrification of aviation drives market growth.- Technavio

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. 

Get a glance at the market contribution of the segments, Request a Sample

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.

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.

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SOURCE Technavio