Drone Lithium Battery Market is expected to reach US$ 12.65 billion by 2030

Growing Number of Drone Start-ups to Create Opportunities for Market During 2022–2030

According to our latest market study on "Drone Lithium Battery Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Battery Type, Battery Capacity, Drone MTOW, Wing Type, and End Use" the market size was valued at US$ 4.07 billion in 2022 and is expected to reach US$ 12.65 billion by 2030; it is estimated to record a CAGR of 15.2% from 2022 to 2030.

When drones were first introduced, they were strictly used for military purposes, such as training, target practices, air strikes, bomb detection, surveillance, etc. With technological advancements, drones are being adopted in several industries, is boosting the drone lithium battery market. Drones are being widely used in construction, agriculture, mining, entertainment, photography, and other sectors, enabling entrepreneurs to introduce drone solutions into the market. Therefore, there is a rise in drone start-ups across various regions to meet the demand for drones, are creating opportunities in the drone lithium battery market growth. For instance, according to Ministry of Commerce and Industry, 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 led the global drone market share in the 2022 drone market map, with a total of 337 drone startups (31.3%), followed by the UK, Germany, France, and Switzerland. Hence, the rising number of drone start-ups are creating opportunities for the growth of the global drone lithium battery market.

Drone Lithium Battery Market — by Geography, 2022

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Source: The Insight Partners Analysis

The drone lithium battery market is significantly growing, due to 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. The players in the global drone lithium battery market are trying 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, which is boosting the drone lithium battery market. Thus, the growing number of drone start-ups is expected to bring new drone lithium battery market trends during the forecast period.

The drone lithium battery market report emphasizes the key factors driving the market and prominent players' developments. The drone lithium battery market analysis is done by considering 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 key drone lithium battery market players profiled in the report. Several other major players were also studied and analyzed during this market research 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. The drone lithium battery market report provides detailed market insights, which help the key players strategize their growth.

The Europe drone lithium battery market forecast involves the segmentation of the market based on France, Germany, Italy, the UK, Russia, and the Rest of Europe. The drone lithium battery market analysis is done by market players. With advancements in drone technologies, drone manufacturers in Europe are providing a wide range of models with various specifications, including size and weight, for different applications. Along with the growth in the drone industry, micro quad drones and mini quad drones are transforming the traditional approach of drone surveillance of fields and land. Major companies in the drone lithium battery market in this region include Enix Power Solutions, Parrot Drone SAS, and RRC Power Solutions GmbH. They provide lithium batteries for drones that are used in commercial mining, agriculture, and photography applications. Further, drone lithium battery market players are taking various initiatives to strengthen their market positions. For instance, in March 2023, Montavista Energy Technologies Corporation (Montavista), an innovative lithium metal battery (LMB) technology company, launched a new LMB product line featuring high power and specific energy. In recent flight tests conducted by several drone developers, the commercial drones equipped with this new METARY P series product of Montavista have demonstrated ~60–80% longer flight time compared to other commercial lithium-ion batteries (LIB). Such product development initiatives are projected to propel the utilization of these batteries in drones, which will bolster the drone lithium battery market growth in Europe in the coming years.

In November 2022, the European Commission adopted the European Drone Strategy 2.0. The strategy aims to prompt the development of drones along with a safety framework for their operations to boost large-scale commercial drone production. Such initiatives by governments of various European countries to boost the growth of the drone industry are further expected to fuel the drone lithium battery market in the region in the coming years.

In Germany, drones are widely used in several commercial applications. According to the Association of Unmanned Aviation, the number of drones in Germany is expected to deploy from 400,000 in 2021 to 450,000 by 2025. Moreover, the country is helping other countries by providing military drones. In September 2023, Germany completed the delivery of a new military package to Ukraine involving military drones. According to a document published on the government's website, German authorities have recently handed over 20 reconnaissance drones to Ukraine. Commercial drones are used for surveillance and gathering information, which propels the market in the country.

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