Growth opportunities in the Military Battery Market look promising over the next six years. This is mainly due to the rise in the application of high-power solidity and thin military batteries in scientific systems.
Military Battery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the prominent drivers accelerating the growth of the global military battery market includes the augmentation in the implementation of dynamic density and lightweight batteries in hi-tech military systems. The ideal battery in a military environment is specifically used for substantial applications in underground and military ground vehicles, which is strengthening the market demand. Also, the surge in the energy consumption from modern technology in armed forces and their advancements will promote market growth. In accordance with the “Council on Foreign Relations,” the modernization program for China’s military, the nation spent US$ 17.5 billion in the defense industry, which will further support the market growth. Additionally, as per the military battery market analysis, the robust demand for storing energy at the global level will raise the market share. The integration of several developing electronic devices, such as wearable devices for night vision applications, to accommodate the defense sector. These devices need to be powered by batteries, which is bolstering the market growth. However, charging issues associated with rechargeable military batteries and the enlargement of enhanced battery management systems are the factors responsible for hampering the military battery industry growth.
Type Segment Drivers
Based on the type, lithium-ion battery is projected to witness a faster CAGR over the forecast period. This is mainly attributed to their superior rechargeable cycle compared to other batteries like the lead-acid battery, making it more suitable for the military group to employ the battery for a more extended period in worse physical conditions.
Regional Drivers
Based on the regional coverage, Asia-Pacific is predicted to lead the market over the forecast period. This is primarily because of the increase in aircraft attainment and guided munitions. In addition, the production capability is set to rise fourfold to 1.25 TWH by the end of 2030, in which the Asia-Pacific accounts for approximately over 79% of the worldwide production. The immense prevalence of leading players, such as Arotech Corporation, ENERSYS, will further driving the market growth.
Military Battery Market’s leading Manufacturers:
- Mathews Battery Assemblers
- Cell-Con
- DENCHI POWER
- Saft
- EaglePicher Technologies
- Arotech Corporation
- Lincad Ltd.
- BST SYSTEMS, Inc
- ENERSYS
- BREN-TRONICS, INC.
Military Battery Market Segmentation:
Segmentation by Voltage
- Less Than 12V
- 12-24V
- More Than 24V
Segmentation by Type
- Lead Acid
- Nickel-Based
- Lithium-Ion
Segmentation by Mode
- Rechargeable
- Non-Rechargeable
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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