The aircraft battery market is expected to mirror the industry’s fitful path, marking a grave decline (+25%) in 2020. The short-term impact on the market is apparent including but not limited to employee layoffs, cash-burnouts of several players including the big guns, production halts, and reductions, etc. However, unceasing demand from the relatively unstirred defense industry offered a supporting hand to the batteries’ falling demand in 2020.
The long-term outlook still seems hopeful with a gradual rebound in aircraft production, ultimately imprinting a positive impact on the market. Stratview Research’s estimates suggest that the market is likely to pick up the pace from 2021 onwards to reach an estimated value of US$ 210 million in 2026.
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