Increasing Demand for More Electric Aircrafts to Offer Opportunities for Market Leaders in Emerging Countries “GLOBAL COMMERCIAL AIRCRAFT BATTERIES AND ACCESSORIES MARKET -
ANALYSIS AND FORECAST (2013-2019)�
Over the last decade, commercial aircraft batteries have witnessed significant developments throughout the world. It enables the aircraft manufacturers to focus on developing electric aircrafts or more electric aircrafts. North America (U.S. and Canada) and a major part of the European region are matured markets for commercial aircraft batteries and accessories. However, the developing regions such as Asia-Pacific (including China and India) and Middle East (including Saudi Arabia, UAE) are expected to become the new revenue-generating markets for commercial aircraft batteries.
The commercial aircraft batteries and accessories market in these emerging regions is primarily driven by various economic developments. Moreover, with most of the primary functions of the aircraft being powered by the electrical system, manufacturers want to invest in new technologies that are highly reliable, less hazardous, and offer reduced maintenance cost. These are some other factors fueling the growth of the commercial aircraft batteries and accessories market.
Due to the aforementioned favorable growth conditions in the emerging countries, a number of players in the commercial aircraft batteries and accessories market are investing in them. For instance, in January 2014, Enersys acquired UTS Holdings Sdn. Bhd., headquartered in Kuala Lumpur, Malaysia. This acquisition, along with recent investments in their Indian business, is expected to help them expand their presence into fast-growing markets such as Asia. For industry trends visit http://www.micromarketmonitor.com/market-report/commercial-aircraftbatteries-and-accessories-reports-7905816973.html In the Asia-Pacific region, the commercial aircraft batteries and accessories market in China is estimated to grow at the highest CAGR in the next five years. A number of factors such as rising disposable income, positive GDP forecast for next 10 years, and increasing air traffic are the major drivers contributing to the growth of the commercial aircraft batteries and accessories market in China.
Over the next five years, the nickel cadmium batteries segment will account for major market share but lithium batteries is one of the fastest growing markets owing to factors such as cheap cost, higher energy density than nickel cadmium, and lightweight. Several companies such as Saft Groupe S.A. and Concorde are investing in this high-growth market in order to gain higher profits and increase their shares in the global commercial aircraft batteries and accessories market.
For instance, in April 2012, ACK Technologies, Inc. chose Saft Groupe S.A. to provide Lithium-sulfurdioxide (Li-SOâ‚‚) batteries to support emergency location transmitters (ELT), which are used in general aviation and commercial aviation aircraft. Under this contract, more than 60,000 battery
cells would be delivered by Saft. The contract offers a good production opportunity for the company.