Dublin, June 30, 2022 (GLOBE NEWSWIRE) -- The "Global Military Battery Market" report has been added to ResearchAndMarkets.com's offering.
The military battery market is projected to grow from USD 1.3 billion in 2022 to USD 1.6 billion by 2027, at a CAGR of 4.1% from 2022 to 2027.
The market is driven by rising need for ground vehicles and UAVs in military applications. However, the market's growth is limited by the regulations on lithium batteries to foresee the market growth.
The COVID-19 outbreak has had an impact on the military battery supply chain. The spread of COVID-19 in the United States and Europe is expected to be slowed by lockdowns at military battery vehicle research and development centres.
As a result of the Asia Pacific lockdown, many businesses in the military battery industry have lost revenue. Many startups have failed to continue operating in the area due to delays in development and a lack of funds. The commercialization of military battery appears to have been delayed by a year when compared with pre conditions.
The lead-acid segment is expected to hold major share of the market during the forecast period on the basis of composition
Military batteries are segmented into lithium-based, lead-acid, nickel-based, thermal, and others on the basis of the composition. Lead-acid batteries use sponge lead and lead peroxide to convert chemical energy into electrical power. The application of these batteries in militaries is declining due to the introduction of lithium-based and nickel-based batteries.
Lead-acid batteries are dangerous for use under harsh military warfare conditions due to the problem of spillage of the acid. However, these batteries are still being used because of their low cost and low maintenance requirement. Increasing demand for armored vehicles and military aircraft is expected to drive the market for lead-acid batteries.
The ground segment is anticipated to lead the military battery market in near future
Military battery market has been segmented into ground, marine and airborne. Ground platforms are any equipment used by militaries or armed forces for navigation, communication, transportation, or any other purposes.
Rechargeable battery segment led the military battery market
Military battery market is segmented into rechargeable and non-rechargeable batteries. Rechargeable batteries held major share in the global market owing to higher adoption in military platforms.
Europe held largest market share in terms of value
Europe is estimated to account for 31% of the military battery market in 2022. The market in Europe is projected to grow from USD 395.8 million in 2022 to USD 478.3 million by 2027, at a CAGR of 3.86% from 2022 to 2027.
Competitive landscape
Some of the key companies operating in the military battery market include EnerSys (US), Arotech Corporation (US), EaglePicher Technologies (US), Bren-Tronics, Inc. (US), and Saft Groupe (France).
Premium Insights
- Increasing Demand for Fighter Aircraft in Military Operations Expected to Drive Military Battery Market from 2022 to 2027
- OEM Segment Estimated to Lead Military Battery Market in 2022
- Less Than 100 Wh/Kg Segment Projected Lead Military Battery Market from 2022 to 2027
- Lead-Acid Segment Projected to Lead Military Battery Market from 2022 to 2027
- Non-Propulsion Segment Projected to Lead Military Battery Market from 2022 to 2027
- China Projected to Register Highest CAGR in Military Battery Market from 2022 to 2027
Market Dynamics
Drivers
- Rising Adoption of Ground Vehicles and Uavs
- Increased Use of Lightweight and High-Power Density Batteries in Sophisticated Military Systems
- Rising Military Expenditure on New Platforms
Restraints
- Regulations on Lithium Batteries
Opportunities
- Advancements in Material Sciences and Battery Technology
- Innovations in Smart Battery Technology
- Emerging Markets in Southeast Asia
Challenges
- Design Challenges Associated with Manufacturing Batteries
- Recovery from Pandemic
Average Price Analysis
- Average Selling Price of Military Batteries
- Average Selling Price of Military Battery Types
- Ranges and Scenarios
Value Chain Analysis of Military Battery Market
- Trends/Disruption Impacting Customer Business
- Revenue Shift and New Revenue Pockets for Military Battery Manufacturers
- Military Battery Market Ecosystem
- Prominent Companies
- Private and Small Enterprises
- Market Ecosystem
Industry Trends
Technology Trends
- Wireless Charging for Drones
- Conformable Wearable Batteries
- Advancements in Lithium-Ion Film Technology
- Next-Generation Solid-State Battery Technology
- Hybrid Batteries
Technology Analysis
Use Case Analysis
- Small Tactical Universal Battery for Handheld Military Applications
- Thales' Stratobus Powered Using Lightweight Lithium Metal Batteries
Impact of Megatrends
Innovations and Patent Registrations
Company Profiles
Key Players
- Enersys
- Bae Systems plc
- Gs Yuasa International Ltd
- Saft (Total)
- Exide Technologies
- Exide Industries
- Ultralife Corporation
- Arotech Corporation
- Bren-Tronics
- Eaglepicher Technologies
- Bst Systems, Inc.
- Concorde
- Lincad
- Korea Special Battery Co., Ltd.
- Ecobat Battery Technologies
Other Players
- Denchi Power
- Kokam
- Mathew Associates
- Navitas Systems
- Teledyne Technologies
- Cell-Con
- Leclanche Sa
- Sterling Planb Energy Solutions
- Sion Power
- Lifeline Batteries
For more information about this report visit https://www.researchandmarkets.com/r/rjne6e
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