According to our latest study on "Drone Battery Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Drone Type, Battery Type, Battery Capacity, and Industry," the market was valued at US$ 994.97 million in 2022 and is expected to reach US$ 2,450.56 million by 2028; it is anticipated to register a CAGR of 16.2% from 2022 to 2028.
The key stakeholders in the drone battery market are raw material suppliers, drone battery manufacturers, and end users. Raw material suppliers play a major role in the drone battery market. As the material sourcing and operations of the raw material suppliers were affected, the demand and supply gap increased among the raw material suppliers and battery manufacturers. During the COVID-19 pandemic, the raw material suppliers have faced several supply chain challenges in procuring logistics services, difficulties in internal production operations due to several factors such as lack of manpower and other resources and several remote operational challenges. All these factors have increased the demand and supply gap between raw material suppliers and battery manufacturers across the globe.
Moreover, several countries such as China and Russia are major providers of lithium and nickel across the world, wherein a few countries such as the US have already banned China-based products across their respective countries. Further, China accounts for more than 60% of the global drone market. The country comprises a few of the major drone manufacturing companies such as DJI, and procures several types of drone battery products from its domestic vendors. The companies constantly generate the demand for drone batteries across their respective serving countries. Such factors have also impacted the supply chain of China-based battery and drone products for different regions.
The raw material supplier provides raw materials such as lithium, polymers, and nickel alloys to drone battery manufacturers to manufacture the final drone battery product. A few of the key global drone battery providers operating in the market include AMIT industries L.T.D, Amperex Technology Limited, Autel Robotics, MMC-UAV, SES AI, Parrot Drone SAS, Maxamps, Shenzhen Grepow Battery Co, DJI, and RRC Power Solutions. These companies are constantly working with different end use industry customers to understand their respective requirements and provide them with a reliable solution to cater to the growing demand for drone batteries. Such factor also drives the drone battery market growth globally.
In addition to the above-mentioned key ecosystem players, several other peripheral stakeholders are involved in the drone battery market, which play a crucial role in enabling the growth and technological advancements related to drone batteries. A few of these stakeholders include government agencies, industry associations, network service providers, and regulatory bodies, among others. Network service providers and governments of various countries across the globe support the development and adoption of efficient drone technologies. Distributors and resellers help manufacturers distribute their products on a global level through online and offline channels. The end users of the drone battery market include drone manufacturers and drone users that constantly keep generating the demand for drone batteries for drone manufacturing and purchasing ARF drones.
The drone battery market size is categorized based on drone type, battery type, battery capacity, and industry. Based on drone type, the drone battery market is divided into mini quad and micro quad. Based on battery type, the drone battery market is segmented into NiCad, NiMH, and LiPo. Based on battery capacity, the drone battery market is segmented into below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, and above 10,000 mAh. Based on industry, the drone battery market is segmented into agriculture & forestry, infrastructure inspection, utilities, construction, mining, and others.
Key Findings of Market Study:
DJI, Amperex Technology Limited, Parrot Drones SAS, Autel Robotics, and Shenzhen Grepow Battery Co are the five key drone battery market players operating in the market. The listing of key drone battery market players is derived by considering multiple parameters such as overall revenue, brand image, current drone battery portfolio in terms of number of models, technology integration & product enhancements, geographic reach, new product/feature launches, market initiatives, mergers & acquisitions, and other market-related activities. AMIT industries L.T.D, MMC-UAV, SES AI, Maxamps, and RRC Power Solutions are a few other notable drone battery market players profiled in this market study. In addition to these players, multiple other leading global and regional market players, emerging companies, market disruptors, and niche market players operating in the market ecosystem were also analyzed during the course of this study.
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