The Europe drone lithium battery market was valued at US$ 1,148.81 million in 2022 and is expected to reach US$ 3,630.29 million by 2030; it is estimated to record a CAGR of 15.5% from 2022 to 2030.
Increase in Applications of Drones Across Different Industries Drives Europe Drone Lithium Battery Market
The drone industry is currently considered one of the fastest-growing industries. Drones have gained immense traction as they can facilitate data collection, mapping, and surveying in extreme environmental conditions where manual surveying techniques are risky and impossible. Using mini and micro quad drones for scanning and surveying solutions is considered extremely beneficial in places where humans cannot perform tasks promptly and efficiently.
Drones help study aerial data in construction, photography, agriculture, and other industries to capture accurate data in a short time, which would otherwise become quite tedious when performed manually. Surveillance by these drones helps better analyze situations to make certain decisions beneficial to increase productivity. For example, surveillance of drones in agricultural fields helps detect insect and pest situations that can be treated and prevented with early drone analysis. Thus, using drones as a cost-effective solution to increase productivity fuels the demand for drones, further propelling the drone battery market.
Europe Drone Lithium Battery Market Overview
The drone lithium battery market in Europe is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. With advancements in drone technologies, drone manufacturers in Europe are providing a wide range of models with various specifications, such as sizes and weights, for different applications. Along with the growth in the drone industry, micro quad and mini quad drones are transforming the traditional approach of drone surveillance of fields and land.
Major companies in the market in this region include Enix Power Solutions, Parrot Drone SAS, and RRC Power Solutions GmbH. They provide lithium batteries for drones 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, thereby bolstering the drone lithium battery market 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 European governments to boost the drone industry are further expected to fuel the use of drone lithium batteries in the region in the coming years.
Europe Drone Lithium Battery Market Revenue and Forecast to 2030 (US$ Million)
Europe Drone Lithium Battery Market Segmentation
The Europe drone lithium battery market is categorized into battery type, battery capacity, drone MTOW, wing type, end use, and country.
Based on battery type, the Europe drone lithium battery market is categorized into Li-ion, Li-Po, and Li-S. The Li-Po segment held the largest market share in 2022.
In terms of battery capacity, the Europe drone lithium battery market is categorized into below 3,000 mAh, 3,000-5,000 mAh, and 3,000-5,000 mAh. The below 3,000 mAh segment held the largest market share in 2022.
By drone MTOW, the Europe drone lithium battery market is segmented into below 100 Kgs, 100 - 200 Kgs, and above 200 Kgs. The below 100 Kgs segment held the largest market share in 2022.
In terms of wing type, the Europe drone lithium battery market is bifurcated into fixed wing and rotary wing. The rotary wing segment held a larger market share in 2022.
Based on end use, the Europe drone lithium battery market is bifurcated into commercial and military. The commercial segment held a larger market share in 2022. Further, the military segment is sub segmented into ISR, warfare, and others.
By country, the Europe drone lithium battery market is segmented into the Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe drone lithium battery market share in 2022.
LG Chem Ltd, Parrot drone SAS, Upergy Ltd, RRC Power Solutions GmbH, and Shenzhen Grepow Battery Co Ltd are some of the leading companies operating in the Europe drone lithium battery market.
Table Of Contents
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Drone Lithium Battery Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in the Value Chain
4.3 Premium Insights
4.3.1 List of Lithium Battery Customers
4.3.2 List of Military Drone Manufacturers
4.3.3 Impact of Russia-Ukraine War on Drone Lithium Battery Demand
4.3.4 Drone Pricing Analysis:
5. Europe Drone Lithium Battery Market - Key Market Dynamics
5.1 Europe Drone Lithium Battery Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Technological Advancements in Lithium Batteries for Drones
5.2.2 Increase in Applications of Drones Across Different Industries
5.2.3 Significant Benefits Offered by Lithium Battery to Drone
5.3 Market Restraints
5.3.1 Restriction on Transport of Lithium Batteries
5.3.2 Availability of Substitute Products
5.4 Market Opportunities
5.4.1 Growing Number of Drone Start-ups
5.4.2 Development of Cutting-Edge Technologies Associated with Drone Lithium Batteries
5.5 Future Trends
5.5.1 Increasing Focus on Research and Development of High-performance Drones
5.6 Impact of Drivers and Restraints:
6. Drone Lithium Battery Market - Europe Market Analysis