Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - August 14, 2023) - Investorideas.com, a leading investor news resource covering defense, drones and battery stocks releases a special news report on the demand for better batteries within the drone industry, featuring KULR Technology Group, Inc. (NYSE: KULR), a leading energy management platform company that recently partnered with a world leading provider of Drone-Powered Package Delivery Services to develop high-capacity lithium battery packs.
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https://www.investorideas.com/News/2023/defense/08100Drone.asp
According to the latest study on Global Drone Battery Market Growth Report, the market was valued at US$ 994.97 million in 2022 and is expected to reach US$ 2.450 billion by 2028; anticipated to register a CAGR of 16.2% from 2022 to 2028.
Well positioned for this market, KULR Technology Group, Inc. (NYSE: KULR), a global leader in sustainable energy management, just announced it has signed an agreement to partner with a world leading provider of drone-powered package delivery services. Pursuant to the agreement, KULR will leverage its KULR ONE Design Solutions ("K1-DS") platform and proprietary technology for the development of high-capacity lithium battery packs for use in last-mile delivery, which is the most expensive and time-consuming part of the shipping process. The KULR K1-DS is globally recognized for the safety and efficiency it brings to batteries and battery-powered products and equipment. It is used by some of the world's most demanding aerospace and defense customers.
From the news: The global drone delivery services market is currently estimated at $2.1 billion and is expected to grow over 400% to $9.2 billion by 2027.
Continued: Although drones offer immense potential, their widespread adoption is hindered by safety risks associated with batteries and various technological challenges, particularly related to energy density and weight. The Company will support the customer in addressing these concerns with its cutting-edge K1-DS battery pack design and testing platform, which integrates inherently safe and lightweight battery designs featuring advanced chemistry and thermal management technology. This approach empowers drone makers to achieve extended flight ranges and longer flight durations on a single charge.
Continued: "Our state-of-the-art KULR ONE Design Solutions platform has enabled leading aerospace, electronics, and energy storage manufacturers to develop lighter, safer, and more thermally efficient products," stated KULR CEO Michael Mo. "We are excited to collaborate with global e-commerce companies to increasingly disrupt the last-mile delivery market by incorporating our solutions for development of high-energy battery packs into smaller and lighter power sources for drone delivery applications."
Making headlines in the drone market in late July, Amprius Technologies, Inc., a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, announced that its high-density batteries played a significant role in powering BAE Systems' first successful stratospheric flight trial. PHASA-35, the High-Altitude Pseudo Satellite (HAPS) Uncrewed Aerial System (UAS) designed by BAE Systems' subsidiary Prismatic Ltd., is planned to operate above the weather and conventional air traffic.
From the news: During a recent test flight, the PHASA-35 crossed an altitude of more than 66,000 feet, reaching the stratosphere, before landing successfully. The trial, completed last month in New Mexico, allowed engineers to assess the experimental solar-electric drone within the edges of the planet's atmosphere.
"Amprius is proud to be recognized as a key partner to BAE Systems supporting their development of the PHASA-35®," said Dr. Kang Sun, Chief Executive Offer of Amprius. "This ultralight platform provides an alternative and flexible approach to traditional systems such as satellites or conventionally powered aircraft. As we develop our next-generation of industry-leading silicon anode batteries, we look forward to helping BAE Systems and Prismatic further enhance the capabilities of their PHASA-35 aircraft."
Australian battery technology company Li-S Energy announced earlier this year, the development of its first 20-layer battery cells utilising third-generation (GEN3) semi-solid state lithium sulfur battery technology.
From the news: Li-S Energy Chief Executive Officer Dr Lee Finniear is pleased to announce the development of the company's first 20-layer battery cells utilising third-generation (GEN3) semi-solid state lithium sulfur battery technology. Key benefits Li-S Energy's GEN3 lithium sulfur battery cell include: a 45% improvement in volumetric energy density, reaching 540Wh/l, higher gravimetric energy density of over 400Wh/kg and enhanced safety with the use of a low flammability electrolyte.
From the news: Compared to current lithium-ion (Li-ion) cells, this performance is nearly double the gravimetric energy density and a comparable volumetric energy density. In practical terms, this means Li-S Energy's battery cells are now the same size as existing Li-ion batteries - but half the weight.
From the news: The GEN3 cells take advantage of the company's patented Boron Nitride Nanotubes (BNNTs) and Li-nanomesh within the cell construction to reduce dendrite growth and to further improve safety and cycle life.
From the news: Based on enquiries to date, the company anticipates GEN3 cells will be of significant commercial interest to high-value partners in sectors such as drones and eAviation - in which the company has already established collaboration partners.
Betting on hydrogen as an alternative, HevenDrones, a leading drone manufacturer, presented its hydrogen-powered UAS, the H2D55, at the Modern Day Marine Expo in Washington, DC, this past June. HevenDrones discussed the paradigm shift its hydrogen-powered UAV provides as well as additional model configurations in its hydrogen-powered product line.
From the news: Improvements in EVTOL technology are creating new defense and security use cases including logistics in contested environments (point-to-point delivery) and improved loitering capabilities for both attack and ISR missions.
From the news: Hydrogen-powered drones are uniquely positioned to significantly improve flight endurance as well as the logistical challenge associated with lithium batteries (supply, charge, and life cycle management) whilst also serving as the perfect use-case for USG hydrogen infrastructure investments in both a military and commercial context.
From the news: As part of the company's hydrogen innovation strategy, HevenDrones is working to develop a hydrogen ecosystem, with a focus on electrolysis, fixed and portable refueling hubs, advances in regulation and integration within the wider mobility sector as well as other key hydrogen infrastructural projects at a military, federal and commercial level. HevenDrones currently has a partnership with PlugPower, a major supplier of hydrogen fuel cells designed to replace electric batteries in vehicles.
According to Drone Battery Market Growth Report, the global drone battery market growth drivers include:
- Increasing adoption of drones for various commercial and military applications, such as aerial photography, inspection, surveying, and surveillance.
- Advancements in drone technology, leading to the development of drones with longer flight times and higher payload capacity, which require more powerful batteries.
- Growing demand for high-performance batteries with longer lifespan and faster charging capabilities to meet the evolving needs of drone users.
The demand and overall use for drones is growing rapidly with applications focusing on everything from package delivery to military and defense. According to Expertmarketresearch.com, the global drone package delivery market reached a value of around USD 975.8 million in 2021 and Amazon.com Inc., Airbus SE, Alphabet Inc., Flytrex Inc., United Parcel Service, Deutsche Post AG, Zipline International Inc., Wingcopter GmbH, SkyDrop, (formerly Flirtey) and Matternet, among others, are the key players in the growing global market for drone package delivery.
The need for better, safer batteries will grow in response to this demand and the sky is the limit for battery companies that provide advanced solutions to enable the drones to fly longer and farther then before.
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