Aircraft Battery Industry - Regional Synopsis
Asia Pacific industry is likely to hold largest revenue share of 37% by 2037, attributed to growing demand for air transport, which in turn is driving the need for aircrafts, and in turn the demand for aircraft batteries. In the other statistics by the World Bank, the number of passengers carried through air transport increased from 732006924 numbers in the year 2009 to 1.02 Billion in the year 2019. On the other hand, the market in the Asia Pacific is anticipated to grow with the highest CAGR during the forecast period, and further touch a revenue of USD 260.4 Million by the end of 2030. The market in the region is further segmented by country into India, China, Japan, South Korea, Australia, and the Rest of Asia Pacific. Out of the market in these countries, the market in China is projected to garner the largest revenue of USD 119.9 Million by the end of 2030, up from USD 51.9 Million in the year 2020. Alternatively, the aircraft battery market in India is anticipated to grow with the highest CAGR during the forecast period.
