Global Commercial Aircraft Batteries and Accessories Market is Estimated to Grow at A CAGR of 7.3%

Date: 2015-07-16

“The global commercial aircraft batteries and accessories market is estimated to grow at a CAGR of 7.3% from 2014 to 2019. Although the developing markets (such as the China, India, and Japan) hold larger shares in the global commercial aircraft batteries and accessories market, the Middle East region is expected to grow at the highest CAGR of 8.4% in the forecast period. The growth of the commercial aircraft batteries and accessories market is driven by factors such as rapid growth in the aircraft manufacturing, technological advancements, growth in the electric aircraft industry. However, factors such as high maintenance and risk of fire are restraining factors to the batteries market. 

In this report, the global commercial aircraft batteries and accessories market has been classified into aircraft type, battery chemistry, and geography. Aircraft type segment is further categorized into Very Large Aircraft (VLA), Wide Body Aircraft (WB), Narrow Body Aircraft (NB), and Regional Jets (RJ). The battery chemistry segment is classified into Nickel Cadmium, Lithium, and Others. Narrow body aircrafts are expected to lead the aircraft type segment whereas the battery chemistries are expected to be dominated by nickel cadmium batteries market in 2014.

Geographically, Asia Pacific (comprising the China, Japan and rest of Asia Pacific) is estimated to command the largest share of 38.7% of the global commercial aircraft batteries and accessories market in 2014, followed by North America. The commercial aircraft batteries and accessories market in Asia Pacific region is primarily driven by factors including rising disposable income, positive GDP forecast for next 10 years, and increasing air traffic. 

The global commercial aircraft batteries and accessories market is a competitive market with a number of market players with niche technologies. As of 2014, the global commercial aircraft batteries and accessories market is estimated to be dominated by Enersys, Saft Groupe SA, Eagle Picher Corporation, GS Yuasa Corporation, Gill Electric Company, and Concorde Battery Corporation. New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the commercial aircraft batteries and accessories market.    

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