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Global Aerospace and Wide-Body Aircraft Battery Market Outlook 2032: Global Opportunity and Demand Analysis, Market Forecast To 2032
- Published :
Report ID: AD0012
Pages: 185
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
Market Research Report
Summary At A Glance
Description
Table of Contents
List Of Tables
List Of Figures
Research Methodology
Description
MARKET SCOPE:
The global Aerospace and Wide-Body Aircraft Battery market is projected to grow significantly, registering a CAGR of 8.3% during the forecast period (2024 – 2032).
Aerospace and wide-body aircraft batteries refer to specialized energy storage systems designed for application in the aviation industry, particularly in large, long-haul aircraft known as wide-body aircraft. These batteries play a crucial role in providing power to a variety of essential aircraft systems, ranging from avionics and lighting to auxiliary power units (APUs) and emergency backup systems. The unique demands of the aerospace environment necessitate batteries with specific characteristics, including high energy density, reliability, safety features, and often a lightweight design to optimize overall aircraft performance. These batteries are an integral part of the electrification trend in the aviation sector, contributing to increased fuel efficiency, sustainability, and operational flexibility. The definition encompasses various battery technologies, with lithium-ion batteries being a prominent choice due to their high energy density, lighter weight, and continuous advancements in safety features. The global push towards electrification in aviation, driven by environmental sustainability goals, has led to a heightened demand for advanced batteries capable of supporting electric and hybrid-electric propulsion systems.
MARKET OVERVIEW:
Driver: Increased focus on energy storage systems is driving the market growth.
The aerospace industry is undergoing a paradigm shift with an intensified focus on energy storage systems, driven by the imperative for consistent and reliable power. This heightened emphasis extends across the entire spectrum of aviation, with particular significance for wide-body aircraft where the demand for energy-dense batteries is at the forefront of technological innovation. This strategic pivot towards advanced energy storage solutions is reshaping the dynamics of aircraft operations, influencing manufacturing decisions, and revolutionizing the capabilities of modern aircraft. Aerospace manufacturers and airlines recognize the critical role of energy storage systems in powering essential aircraft systems. From avionics and lighting to auxiliary power units (APUs), these systems demand a consistent and reliable power source. The focus on energy storage ensures uninterrupted functionality, enhancing the safety and efficiency of wide-body aircraft during all phases of flight.
Opportunities: Advancements in battery technologies is anticipated for the market growth in the upcoming years.
The aerospace industry is experiencing a transformative era marked by ongoing advancements in battery technologies, notably exemplified by the evolution of lithium-ion batteries. This relentless pursuit of innovation plays a pivotal role in shaping the development of aerospace batteries, with a particular focus on enhancing energy density and safety features. The continuous progress in battery technologies has far-reaching implications for the efficiency, reliability, and sustainability of aerospace systems, especially in the context of wide-body aircraft. One of the key drivers propelling advancements in aerospace batteries is the quest for improved energy density. Lithium-ion batteries, with their high energy density, have become the frontrunners in powering various aircraft systems. Enhanced energy density translates to a greater amount of energy stored in the same or smaller physical space, offering a critical advantage for aerospace applications. This is particularly crucial for wide-body aircraft, where optimizing weight and space is paramount. As the energy density of batteries increases, aircraft can benefit from extended ranges, improved operational capabilities, and enhanced overall performance.
COVID IMPACT:
Many aerospace manufacturers faced disruptions in their production schedules due to the pandemic. Reduced demand for air travel led to a decrease in new aircraft orders, impacting the production of both narrow-body and wide-body aircraft. This, in turn, affected the integration of related components, including batteries. The global aerospace supply chain experienced disruptions as a result of lockdowns, border closures, and logistical challenges. Suppliers of aircraft components, including batteries, faced difficulties in maintaining regular production levels, leading to delays in deliveries and potential shortages. Airlines, especially those operating long-haul wide-body aircraft, faced significant financial strain due to travel restrictions and decreased passenger numbers. This financial pressure influenced airlines’ capacity to invest in new technologies, potentially impacting the demand for advanced aircraft batteries. Many airlines shifted their operational focus to cargo and repurposed passenger aircraft for freight transport to cope with the decline in passenger flights. This shift in focus may have influenced the prioritization of certain aircraft components over others.
SEGMENTATION ANALYSIS:
Narrow-Body Aircraft segment is anticipated to grow significantly during the forecast period
Narrow-body aircraft, designed for shorter-haul routes with typically fewer passengers, benefit from advanced battery technologies that prioritize energy density and weight. Lithium-ion batteries, known for their high energy density and lightweight design, are commonly used to power avionics, lighting systems, and auxiliary power units (APUs) in narrow-body aircraft. Given their operational focus on short-haul routes, narrow-body aircraft have specific battery needs related to frequent takeoffs and landings. Efficient energy storage and rapid charging capabilities are crucial to support the quick turnaround times typical of these flights. Lithium-ion batteries meet these requirements effectively. The trend toward electrification in aviation has prompted the exploration of electric and hybrid-electric propulsion systems for narrow-body aircraft. Batteries play a central role in these propulsion systems, providing the necessary power for electric motors. Ongoing research and development aim to optimize battery technologies for such electrified propulsion systems.
Lithium-ion segment is anticipated to grow significantly during the forecast period
Lithium-ion batteries offer a high energy density, providing more energy storage capacity per unit of weight compared to conventional battery technologies. This characteristic is particularly advantageous in the aerospace sector, where weight is a critical factor in fuel efficiency and overall aircraft performance. The lightweight nature of lithium-ion batteries contributes to the ongoing efforts in the aviation industry to reduce aircraft weight. Reduced weight translates into fuel savings, increased operational range, and improved overall efficiency for wide-body aircraft engaged in long-haul flights. Lithium-ion batteries provide efficient power distribution, supporting the diverse needs of wide-body aircraft. From powering avionics and lighting systems to serving as the primary energy source for auxiliary power units (APUs), these batteries contribute to the seamless operation of critical aircraft systems.
REGIONAL ANALYSIS:
The Asia Pacific region is set to witness significant growth during the forecast period.
The Asia Pacific region has witnessed significant growth in the aerospace industry, driven by factors such as rising air travel demand, economic expansion, and increased investments in aviation infrastructure. Key countries in the region, including China, Japan, and India, have been actively involved in the development and manufacturing of aerospace technologies. The aviation industry has been transitioning towards lithium-ion battery technology due to its higher energy density, lighter weight, and better performance compared to traditional nickel-cadmium batteries. This transition enhances the efficiency and overall performance of wide-body aircraft. Safety remains a top priority in the aerospace industry. The adoption of new battery technologies involves stringent certification processes to ensure compliance with safety standards. Manufacturers focus on developing batteries that meet or exceed regulatory requirements. Battery technologies play a role in enhancing the energy efficiency of aircraft and extending their range. As airlines and manufacturers seek to improve fuel efficiency and reduce emissions, advancements in battery technologies contribute to achieving these sustainability goals.
COMPETITIVE ANALYSIS
The global Aerospace and Wide-Body Aircraft Battery market is reasonably competitive with mergers, acquisitions, and Application launches. See some of the major key players in the market.
- Eagle Pitcher
In 2023, Tuthill Corporation, a privately held company with 130 years of experience in industrial production, purchased EaglePicher Intermediate Ventures, which included the operational company EaglePicher Technologies. Following the acquisition announcement in September, the transaction was completed successfully with the necessary third-party consents and regulatory approvals. Under Tuthill’s ownership, the acquired company will continue to operate as EaglePicher.
- Sion Power
In 2024, LG Energy Solution (LGES) announced that it has purchased a portion of Arizona-based Sion Power, a US startup with a robust portfolio of patents related to lithium-metal batteries.
- SECURAPLANE
- Vision Marine Technologies
- Saft Groupe S.A
- GS Yuasa Corporation
- Concorde Aircraft Batteries
- True Blue Power
- Cella Energy
- Aerolithium Batteries
- EnerSys
Scope of the Report
- By Application
- Narrow-Body Aircraft
- Wide-Body Aircraft
- By Battery
- Lithium-ion
- Nickel – Cadmium
- Lead Acid
- By Region
- North America (the United States & Canada)
- Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
- Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)
Keys reasons to purchasing this report
- It provides a technological development map over time to understand the industry’s growth rate and indicates how the Aerospace and Wide-Body Aircraft Battery market is evolving.
- The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Aerospace and Wide-Body Aircraft Battery submarket will be the main driver of the overall market from 2024 to 2032.
- It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.
- It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.
Table of Contents
- Executive Summary
- Market Snapshot
- Regional Analysis
- Segment Analysis
- Overview and scope
- Market Vision
- Market Definition
- Market Segmentation
- Market Vision
- Global Aerospace and Wide-Body Aircraft Battery Market Overview By Region: 2019 VS 2023 VS 2032
- Global Aerospace and Wide-Body Aircraft Battery Market Size by Regions (2019-2023) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size by Country (2019-2023) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size by Country (2019-2023) (USD Million)
- Asia Pacific America Aerospace and Wide-Body Aircraft Battery Market Size by Country (2019-2023) (USD Million)
- Rest of the World Aerospace and Wide-Body Aircraft Battery Market Size by Country (2019-2023) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size by Regions (2024-2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size by Country (2024-2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size by Country (2024-2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size by Country (2024-2032) (USD Million)
- Rest of the World Aerospace and Wide-Body Aircraft Battery Market Size by Country (2024-2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size by Regions (2019-2023) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Dynamics
- Market Overview
- Market Drivers
- Market Restraints/ Challenges Analysis
- Market Opportunities
- PESTLE Analysis
- Porter’s Five Forces Model
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- The threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Value Chain Analysis/Supply Chain Analysis
- Covid-19 Impact Analysis on Global Aerospace and Wide-Body Aircraft Battery Market
- Market Overview
** In – depth qualitative analysis will be provided in the final report subject to market
- Global Aerospace and Wide-Body Aircraft Battery Market, By APPLICATION
- Overview
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Key Findings for Aerospace and Wide-Body Aircraft Battery Market – By Application
- Narrow-Body Aircraft
- Wide-Body Aircraft
- Global Aerospace and Wide-Body Aircraft Battery Market, By Battery
- Overview
- Key Findings for Aerospace and Wide-Body Aircraft Battery Market – By Battery
- Lithium-ion
- Nickel – Cadmium
- Lead Acid
- Global Aerospace and Wide-Body Aircraft Battery Market, by region
- Key Findings For Aerospace and Wide-Body Aircraft Battery Market- By region
- Overview
- Global Aerospace and Wide-Body Aircraft Battery Market, By Application
- Global Aerospace and Wide-Body Aircraft Battery Market, By Battery
- Global Aerospace and Wide-Body Aircraft Battery Market- North America
- Overview
- North America Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market, By Application
- North America Aerospace and Wide-Body Aircraft Battery Market, By Battery
- North America Aerospace and Wide-Body Aircraft Battery Market Size by Countries
- United States
- Canada
- Global Aerospace and Wide-Body Aircraft Battery Market- Europe
- Overview
- Europe Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market, By Application
- Europe Aerospace and Wide-Body Aircraft Battery Market, By Battery
- Europe Aerospace and Wide-Body Aircraft Battery Market Size by Countries
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Global Aerospace and Wide-Body Aircraft Battery Market – Asia Pacific
- Overview
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market, By Application
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market, By Battery
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size by Countries
- China
- Japan
- India
- Rest of Asia Pacific
- Global Aerospace and Wide-Body Aircraft Battery Market- Rest of World
- Overview
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market, By Application
- Rest of World Aerospace and Wide-Body Aircraft Battery Market, By Battery
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size by Regions
- Middle East & Africa
- Latin America
- Rest Of The World
- GLOBAL Aerospace and Wide-Body Aircraft Battery MARKET- Competitive Landscape
- Key Strategies Adopted by the Leading Players
- Recent Developments
- Investments & Expansions
- New End-User Launches
- Mergers & Acquisitions
- Agreements, Joint Ventures, and Partnerships
- GLOBAL Aerospace and Wide-Body Aircraft Battery MARKET- Company Profiles
- Eagle Pitcher
- Company Overview
- Financial Overview
- Application Offered
- Key Developments
- Sion Power
- SECURAPLANE
- Vision Marine Technologies
- Saft Groupe S.A
- GS Yuasa Corporation
- Concorde Aircraft Batteries
- True Blue Power
- Cella Energy
- Aerolithium Batteries
- EnerSys
- Eagle Pitcher
- Our Research Methodology
- Data Triangulation
- Data Sources
- Secondary Sources
- Primary Sources
- Assumptions/ Limitations For The Study
- Research & Forecasting Methodology
- Appendix
- Disclaimer
- Contact Us
List Of Tables
- Global Aerospace and Wide-Body Aircraft Battery Historic Market Size By Regions (2019 – 2023) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Forecasted Market Size By Regions (2024-2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market- Drivers
- Global Aerospace and Wide-Body Aircraft Battery Market- Restraint /Challenges
- Global Aerospace and Wide-Body Aircraft Battery Market- Opportunity Analysis
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Wide-Body Aircraft (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Lithium-ion (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Lead Acid (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Wide-Body Aircraft (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Lithium-ion (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery Market Size By Lead Acid (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Wide-Body Aircraft (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Lithium-ion (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size By Lead Acid (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Wide-Body Aircraft (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Lithium-ion (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size By Lead Acid (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Narrow-Body Aircraft (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Wide-Body Aircraft (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Lithium-ion (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery Market Size By Lead Acid (2019 – 2032) (USD Million)
- Data Triangulation
List Of Figures
- Market Highlights
- Market Highlights By Region
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Application: 2019 VS 2032
- Global Aerospace and Wide-Body Aircraft Battery Market Size by Battery: 2019 VS 2032
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Application (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery By Narrow-Body Aircraft (USD Million 2019 – 2032)
- Global Aerospace and Wide-Body Aircraft Battery By Wide-Body Aircraft (USD Million 2019 – 2032)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Battery (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery By Lithium-ion (USD Million 2019 – 2032)
- Global Aerospace and Wide-Body Aircraft Battery Market Size By Nickel Cadmium (2019 – 2032) (USD Million)
- Global Aerospace and Wide-Body Aircraft Battery By Lead Acid (USD Million 2019 – 2032)
- North America Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- North America Aerospace and Wide-Body Aircraft Battery By United States Revenue (USD Million) (2019 – 2032)
- North America Aerospace and Wide-Body Aircraft Battery By Canada Revenue (USD Million 2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Europe Aerospace and Wide-Body Aircraft Battery By United Kingdom Revenue (USD Million) (2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery By Germany Revenue (USD Million 2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery By France Revenue (USD Million 2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery By Italy Revenue (USD Million 2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery By Spain Revenue (USD Million 2019 – 2032)
- Europe Aerospace and Wide-Body Aircraft Battery By Rest Of Europe Revenue (USD Million 2019 – 2032)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery By China Revenue (USD Million) (2019 – 2032)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery By Japan Revenue (USD Million 2019 – 2032)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery By India Revenue (USD Million 2019 – 2032)
- Asia Pacific Aerospace and Wide-Body Aircraft Battery By Rest Of APAC Revenue (USD Million 2019 – 2032)
- Rest Of World Aerospace and Wide-Body Aircraft Battery Market Size (2019 – 2032) (USD Million)
- Rest of World Aerospace and Wide-Body Aircraft Battery By the Middle East & Africa Revenue (USD Million) ( 2019 – 2032)
- Rest of World Aerospace and Wide-Body Aircraft Battery By Latin America Revenue (USD Million 2019 – 2032)
- Rest of World Aerospace and Wide-Body Aircraft Battery By Rest Of The World Revenue (USD Million 2019 – 2032)
- Key Strategies Adopted By The Leading Players
- Secondary Sources
- Primary Research
- Global Aerospace and Wide-Body Aircraft Battery Market – Research Methodology
Research Methodology
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.
