Global Aerospace Ultracapacitors Market Size, Share, And Covid-19 Impact Analysis, By Type (Pseudo Capacitors, Electric Double-Layered Capacitors, And Hybrid Capacitors), By Power Modules (Less Than 10 Volts, 10 - 25 Volts, 25 - 50 Volts, 50 -100 Volts, And Above 100 Volts), By End-Use Industry (Consumer Electronics, Automotive, Energy & Utilities, And Others), And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East And Africa), Analysis And Forecast 2022-2028

KEY MARKET INSIGHTS

The global Aerospace Ultracapacitors Market is projected to grow from USD 2.19 billion in 2021 to USD 5.04 billion by 2028 at a CAGR of 16.28% during the forecast period.

Ultra-capacitors are a new form of energy storage device with a near-instant recharging, high power density, and a long life cycle. The ultracapacitor is a high-capacity capacitor having a capacitance value that is higher than that of ordinary capacitors. They can store 10 to 100 times per unit more energy mass than electrolytic capacitors and operate at lower voltages. They're used in unmanned aerial vehicle catapults, combat tank cold cranes, GPS-guided missiles, and others. Further, the automobile industry is expected to develop at a significant rate. The growing demand for ultracapacitors in cars and buses is expected to boost market demand during the forecast period.  

COVID-19 ANALYSIS    

The COVID-19 outbreak has associated lockdowns and supply chain disruptions of aerospace ultracapacitor disturbances and has damaged the aerospace and defense industry, delaying or canceling new defense purchase and maintenance projects. Individuals, organizations, governments, and businesses have all had to adapt to COVID-19's difficulties, which have had a significant impact on worldwide economic activity. The industry's downturn and the halting of the manufacturing process have resulted in a drop in industry demand. There was deterioration in the supply chain, as well as lower demand from end customers, resulting in a loss of profit. The impact of COVID-19 on the Aerospace Ultracapacitors Market is very transient. The government has enforced a global lockdown and is imposing stringent regulations in order to maintain the pandemic. 

LATEST TREND

Growing Automotive Industry Boost Demand for Ultracapacitors

The growing trend of renewable technology has increased the consumption for environment-friendly energy storage solutions, which, in turn, is expected to boost the overall market during the forecast period. Government-enacted carbon emission standards and regulations are expected to drive revenue generation in the worldwide ultracapacitors market in the coming years. Automotive ultracapacitors are one of the most common energy sources for delivering rapid bursts of energy during peak power demand. The use of an ultracapacitor in a vehicle improves vehicle performance by lowering fuel consumption and minimizing harmful emissions, extending the vehicle's life. Ultracapacitors are employed in board net stabilization and acceleration systems, in addition to traditional applications.

DRIVING FACTORS

Demand for Modern Aircraft Is Growing

One of the primary factors driving the growth of the aerospace ultracapacitor market is the increase in demand for commercial aircraft. The steady growth of aviation traffic necessitates the purchase of new planes. To accommodate the increased demand for new aircraft, key aircraft manufacturers are increasing their manufacturing capacity. They're also working on next-generation planes that use less fuel, emit less noise, and emit less carbon dioxide. As a result, there has been an increase in demand for aircraft. Customized airplane hangars are also available from market providers, which are created to match the needs of end-users. For instance, in June 2017, Boeing stated that it would develop a modified 737 known as the "Boeing 737 10". This plane is intended towards the passenger jet market's "middle of the market" (MOM) segment. Single-aisle jets with a length of less than 4m are known as narrow-body aircraft, or MOM jets.

RESTRAINTS

Market Is Hampered By Raw Material Price Volatility and Availability

Manufacturers are experiencing material shortages as a result of the increased demand for ultracapacitors. Furthermore, ultracapacitors' ability to be used as long-term energy storage solutions is limited. Also, the operational cost of ultracapacitors operates is high, thus this is act as a market restraint.           

SEGMENTATION

The global Aerospace Ultracapacitors Market is segmented by Type, Power Modules, End-Use Industry, and Region. Based on the Type, the market is categorized into Pseudo Capacitors, Electric Double-Layered Capacitors, and Hybrid Capacitors. Based on By Power Modules, the market is categorized into Less Than 10 Volts, 10 - 25 Volts, 25 - 50 Volts, 50 -100 Volts, And Above 100 Volts. Based on End-Use Industry, the market is categorized into Consumer Electronics, Automotive, Energy & Utilities, and Others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

REGIONAL INSIGHTS

The global Aerospace Ultracapacitors Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.  

North America is the largest market for aerospace ultracapacitors due to the continuous expansion of the industrial and aerospace industries across the region. The advancements in technology in aerospace applications as well as electronics applications and others, hybrid ultracapacitor utilization is increasing, these factors propelling market growth during the forecast period. 

Asia Pacific is the second-largest market for aerospace ultracapacitors due to the China and India, the world's most populous countries, support the region. Because it is densely populated and seeing rising income levels, most industries are experiencing good growth in both output and consumption. Consumers in the region are becoming increasingly interested in a variety of product developments.

Europe is third-largest market for aerospace ultracapacitors due to increasing demand from guided missiles, backup power, cold engine start, UAV, and other application is boosting the market growth. 

LIST OF KEY COMPANIES PROFILED:

• CAP-XX
• LS Mtron Ltd.
• Maxwell Technologies
• Skeleton Technologies.
• CRRC NEW ENERGY
• Tracxn Technologies Limited.
• VINATech Co.,Ltd.
• Yunasko.

KEY INDUSTRY DEVELOPMENTS:

April 2020- CAP-XX Limited produced the industry's first prismatic supercapacitors. To meet the demand for affordable, compact, and energy-efficient solutions for usage in key FOBs, thin wearables, and other IoT devices, the business initially deployed its 3V technology in thin prismatic form.

February 2020- Skeleton Technologies signed a contract with Attabotics to deliver ultracapacitor modules. Attabotics is a Canadian firm that specializes in the creation of a new all-in-one automated storage, order fulfillment, retrieval, and sortation system for some of North America's major retailers.

SEGMENTATION

By Type

• Pseudo Capacitors
• Electric Double-Layered Capacitors
• Hybrid Capacitors

By Power Modules

• Less Than 10 Volts
• 10 - 25 Volts
• 25 - 50 Volts
• 50 -100 Volts
• Above 100 Volts

By Application

• Consumer Electronics
• Automotive
• Energy & Utilities
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa