ID: MRFR/A&D/8053-HCR | 174 Pages | Author: Sejal Akre | June 2023
In remote areas and national borders, the defense intelligence, reconnaissance, and surveillance systems are deployed, which provides real-time data by connecting through wireless networks. And these systems are operating with the help of advanced batteries. Thus, the defense sector is requiring advanced batteries in a large amount. Presently, a huge amount of investment is growing in the high energy density batteries development to improve the endurance of systems like UMVs, UAVs, and UGVs.
The present Military Battery Market Outlook report explains that the Lead-Acid Battery is registered to generate the highest CAGR in the research timeframe. A lead-acid battery cell has a cathode of elemental lead and an anode made of lead oxide that is submerged in a sulfuric acid electrolyte solution. Moreover, the lead-acid batteries have good power provision properties as well as consist of good energy storage.
Apart from this, the Nickel-Cadmium Battery is anticipated to generate a steady CAGR in the assessment period. The nickel-cadmium cells include a cathode of nickel hydroxide and an anode of cadmium hydroxide submerged in an electrolyte of sodium, potassium, and lithium hydroxides. Moreover, nickel-cadmium batteries have an extensive operating temperature range. Also, it is reliable and needs low maintenance. As a result, it has been increasing the demand for the Nickel-Cadmium Battery in the last few years.
The global Military Battery Market Forecast report highlights that the airborne segment is registered to hold the highest CAGR in the review period. This segment is expanding because of the high energy density batteries are required in the operation of airborne systems like UAVs and aircraft. Apart from this, the space segment is anticipated to show steady market growth over the research period of 2020 to 2030. The satellites require advanced batteries for their operation to carry payloads, optical imagery and provide data or voice communication.
COVID-19 Impact Analysis
The COVID-19 has a negative influence on the Military Battery Market Trends as well as on its supply chain and manufacturing chain. At this time, many investors have taken back steps that have affected the global market on a large scale.
However, many manufacturers are continuously applying various tactics like joint ventures and collaboration to establish their strong base in the overall market. Also, adopting breakthrough technologies in the assembly, manufacturing, research, and sales of AI air batteries to enhance their business. Further, it is projected that the global Military Battery Market will have large market revenue and market value in the upcoming years.
Recently, it has been found that military spending has increased significantly, which is fueling the demand of the Military Battery Market Growth in the forecast period. Moreover, the rising use of high-power density and lightweight military batteries; and the growing demand for long endurance capability UAVs are driving the global market growth in the research period.
The Stockholm International Peace Research Institute (SIPRI) report explains that global military spending has risen to nearly USD 1.82 trillion, which is increased by 2.6%from 2017 to 2019. Hence, the rising demand for advanced defense systems such as UGVs, UAVs, and UMVs is boosting up the demands for the Military Battery Market.
The global Military Battery Market has increased the demand for solid-state batteries, which can bring more significant opportunities for the market players and manufacturers.
Moreover, the rising need for better battery management systems among various applications in the world is projected to bring lucrative opportunities for the global Military Battery Market.
The global Military Battery Market Sizemight get affected due to the charging issues related to the rechargeable military battery. Moreover, the safety and regulations issues related to the use of lead-acid military batteries might be one of the major restraints to the global market.
Apart from these, the high cost of maintenance can also hamper the Military Battery Market Value during the review period.
The global Military Battery Market might face challenges due to the improved Battery Management Systems (BMS) development and design constraints for military batteries.
Furthermore, the charging issues associated with rechargeable military batteries and the safety and regulation issues related to lead-acid military batteries usages are the major challenges that can affect the Military Battery Market Sizeduring the research timeframe.
Cumulative growth analysis
The global market is projected to continue generating higher Military Battery Market Share in the upcoming years.
According to the Military Battery Market Trends, global market growth relies upon rising defense expenditures in the Middle East & Africa because of the countries like Israel, Saudi Arabia, and the UAE. Moreover, the Latin American region is contributing largely to the global market due to the increasing use of UAVs for intelligence gathering on control of illegal migration, deforestation monitoring, and drug trafficking and rebel groups. Therefore, the regional growth is expected to bring more scope to the Military Battery Market Growth in the upcoming years.
Based on the type segment, the global Military Battery Market has been categorized into Lead-Acid Battery, Lithium Battery, Thermal Battery, Nickel Battery, and others.
Among all, the lithium batteries segment is projected to account for the largest Military Battery Market Share and is also estimated to generate the highest CAGR in the assessment period. This segment is increasing because of the rising use of lithium batteries in unmanned systems across the world.
On the basis of platform segment, the current Military Battery Market has been classified into Land, Space, Maritime, and Airborne.
In 2019, the land segment was projected to dominate the Military Battery Market because of the rising advanced batteries demand land-based systems like soldier systems, UGVs, and combat vehicles. On the other hand, the maritime segment is registered to hold the highest market growth between the forecast periods of 2019 to 2026 because of the rising battery demands for naval defense systems.
According to the Military Battery Market Outlook report, the present market has been spread across various locations like North America, Asia-Pacific, Middle East & Africa, Europe, and the rest of the world.
Of these, these companies in the advanced batteries development for defense applications register the North American region to dominate the military battery market over the forecast period because of the rising investments. Also, this regional market is developing due to the presence of prominent players likeEaglepicher, Arotech Corporation, and Enersysin the region. Apart from this region, the demand for the military battery is increasing in the European region.
This region has high adoption of advanced systems such as UMVs, UAVs, and UGVs by the military organization for performing reconnaissance missions, intelligence, and surveillance. Moreover, the Asia-Pacific region is expected to grow at a high CAGR in the assessment timeframe. This region is growing the global military battery market demand due to the increasing terrorist activities in countries like Indonesia, India, Australia, and China. Also, another big reason for the growth of the region is the rising defense expenditure.
As per the Military Battery Market Forecast report, the major key players of the global market are:
Apart from these, there are other prominent players such as Mathews Associates Inc. (US), Lincad (UK), Teledyne Battery Products (US), Navitas Systems (US), and Ultralife Corporation (US). These market players are implementing new innovations and strategies to enhance the performance of the Military Battery Market during the assessment period.
The Military Battery Market Analysis report explains that the present report is consists of various market segmentation like types and platforms. This report is based on the primary and secondary research method, which has been analyzed by using qualitative and quantitative analysis.
As per the Market Analysis, this report also covers the market dynamics, market overview, recent developments, regional analysis, and competitive landscape analysis.
|Market Size||USD 3.81 Billion (2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Energy Consumption, Platform, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Arotech Corporation (US), Bren-Tronics (US), BST Systems, Inc. (US), Cell-Con, Inc. (US), Concorde Battery Corporation (US), Denchi Power Ltd (UK), Eaglepicher (US), Enersys (US), Kokam (South Korea), Saft Group SA (France)|
|Key Market Opportunities||
|Key Market Drivers||
USD 3.81 Billion will be the valuation of the Military Battery Market
Global Military Battery Market’s CAGR is calculated to be 5.8% by 2030
BST Systems, Inc. (US),Bren-Tronics (US),Concorde Battery Corporation (US),Arotech Corporation (US),Cell-Con, Inc. (US),Saft Group SA (France),Eaglepicher (US),Kokam (South Korea),Enersys (US),Denchi Power Ltd (UK).
The market USP of the Global Military Battery Market is the escalating use of unmanned systems by military agencies need advanced batteries.
Global Military Battery Market’s segments are type and platform.
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