The global UAV Battery market was valued at US$ 817.7 million in 2017 and is projected to reach US$ 2,734.0 million by 2026, exhibiting a CAGR of 14.5% over the forecast period, according to Global UAV Battery Market Report, by UAV Type (Medium Altitude Long Endurance, High Altitude Long Endurance, Tactical UAVs, and Small UAVs), by Battery Type (Fuel Cell, Lithium-Ion, Lithium Polymer, and Nickel Cadmium), by Region (North America, Europe, Asia Pacific, and LAMEA) published by Coherent Market Insights.
Unmanned Aerial Vehicle (UAV) batteries are designed to support and power the UAV structure for a specific period of time which can be extended with the help of multiple batteries in UAVs. Increasing production of UAVs for deployment in the military across various regions is driving the UAV battery market growth. Moreover, increasing military expenditure by governments of different countries is creating a lucrative opportunity for market players in the UAV battery market. Increasing adoption of UAVs for strengthening defense and military capabilities of the country, is expected to aid growth of the market. Therefore, increasing budget for defense and military purposes has led to high expenditure on UAVs and related technologies, which is expected to drive growth of the UAV batteries market.
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Key Trends and Analysis of the Global UAV Battery Market:
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