The aircraft batteries are essential components, majorly used in engines and auxiliary power units (APUs) for a variety of functions, such as acting as a buffer in regulating DC network voltage and ensuring acceptable power quality for the equipment connected to it. In case of in-flight general electrical failure, the aircraft depends on batteries to power the essential loads until landing and evacuation.The North American commercial batteries and accessories market is estimated to reach a value of $39.1 million by 2019, at a CAGR of 7.3% from 2014 to 2019.
The growth of the North America aircraft batteries and accessories market is driven by the increasing costs of aviation fuel, which is forcing manufacturers to opt for more fuel-efficient aircrafts. Along with fuel efficient aircrafts, manufacturers are also looking at More Electric Aircraft (MEA) concepts. 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 costs.
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Also, the number of aircrafts in service is expected to double over the next two decades, keeping in mind the increasing air traffic and GDP of the countries of the North American region. This indicates that there would be a rapid growth in manufacturing of new aircrafts, thereby demanding installation of new technology aircraft batteries, which will drive the aircraft and accessories market in North America during the forecast period, 2014 to 2019.
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The major market in the North American region is the U.S. The U.S. segment accounted for an 89% share of the North American market in 2014. In the U.S region, as per the aircraft type, the wide body aircraft segment is expected to grow at the fastest CAGR, followed by the narrow body and regional jets segments. The aircraft batteries market is dependent on the number of aircrafts manufactured and the replacement rates of the batteries. On the basis of battery chemistry, the North American market is dominated by the Nickel Cadmium batteries segment; however, the lithium batteries segment is expected to grow at the fastest CAGR during the given forecast period.
North America contributed to a major share in the global commercial aircraft batteries and accessories market, due to the increase in passenger traffic, increase in the demand for the regional jets and narrow body jets. The presence of major aircraft manufacturers like Airbus and Boeing in the region is expected to further boost the growth of this market in North America.
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