At 13.3% CAGR, the South America Drone Battery Market is projected to be worth US$ 133.56 Million by 2028, says Business Market Insights 

According to Business Market Insights’ research, the South America drone battery market was valued at US$ 63.18 million in 2022 and is expected to reach US$ 133.56 million by 2028, registering a CAGR of 13.3% from 2022 to 2028. Rise in applications of drones across different industries and limited charging capacity of drone batteries are the critical factors attributed to the South America drone battery market expansion.    

Earlier, drones had very limited applications. When drones were first introduced, they were strictly used for military purposes for training, target practices, air strikes, bomb detection, surveillance, and more. But with the adoption of technologies, the drones are used in several other industries that boosted its market. Drones are now used in construction, agriculture, mining, entertainment, photography, and other several sectors, which have gained the attention of entrepreneurs to bring drone solutions into the market and grow their businesses with the rising demand for drones. Therefore, there is a rise in drone start-ups across SAM.

Rising use of drones across various industries and growing number of competitors will encourage startups to provide cost-efficient and better solutions to customers as a competitive advantage over each other. They will try to reach more industries and customers by increasing their production of drones that can be used across several industries. The production of drones is directly proportional to the production of drone batteries. Thus, the growing number of drone startups will create a lucrative opportunity for the drone battery market growth.

On the contrary, introduction of fuel cell technologies for small drone applications hurdles the growth of South America drone battery market.

Based on drone type, South America drone battery market is segmented into mini quad and micro quad. The mini quad segment held 73.0% market share in 2022, amassing US$ 46.13 million. It is projected to garner US$ 100.04 million by 2028 to expand at 13.1% CAGR during 2022–2028.

Based on battery type, South America drone battery market is segmented into below NiCad, NiMH, and LiPo. LiPo segment held 89.5% market share in 2022, amassing US$ 56.51 million. It is projected to garner US$ 120.19 million by 2028 to expand at 13.4% CAGR during 2022–2028.

Based on battery capacity, South America drone battery market is segmented into below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, above 10,000 mAh. The below 3000 mAh segment held 43.1% market share in 2022, amassing US$ 27.20 million. It is projected to garner US$ 60.38 million by 2028 to expand at 14.2% CAGR during 2022–2028.

Based on Industry, South America drone battery market is segmented into agriculture and forestry, infrastructure inspection, utilities, construction, mining, others. The agriculture and forestry segment held 32.8% market share in 2022, amassing US$ 20.70 million. It is projected to garner US$ 47.48 million by 2028 to expand at 14.8% CAGR during 2022–2028.

Based on country, the South America drone battery market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 85.9% market share in 2022. It was assessed at US$ 54.25 million in 2022 and is likely to hit US$ 116.86 million by 2028, exhibiting a CAGR of 133.6% during the forecast period.

Key players dominating the South America drone battery market are Amperex Technology Ltd; Autel Robotics Co Ltd; Shenzhen Grepow Battery Co Ltd; and SZ DJI Technology Co Ltd, among others.         

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