Key players in North American Commercial Batteries and Accessories Market include Saft SA, Concorde, OTHER (Companies) and STG Aerospace Limited.
(PRWEB) February 27, 2015
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 the right power flow for the equipment connected to it for smooth functionality.
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.
Browse through the TOC of North American commercial batteries and accessories market for an analysis of industry trends, segments & forecasts.
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.
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