Global Military Battery Market is projected to reach USD 3.81 Billion and register a CAGR of 5.8% between 2019 and 2026. The defense intelligence, surveillance, and reconnaissance systems that are deployed on national borders/in remote areas are connected through wireless networks that provide real-time data. These systems require advanced batteries for operation. Moreover, to enhance the endurance of systems, such as UAVs, UGVs, and UMVs, there has been an increase in investments in the development of high energy density batteries.
The Global Military Battery Market has witnessed high growth in recent years owing to the increasing defense expenditure, increased demand for UAVs equipped with long endurance capability, and increased use of lightweight and high-power density military batteries.
The increasing use of unmanned systems by military agencies need advanced batteries.
- Increasing Defense Expenditures: Globally, military spending has increased significantly in recent years. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2019. The increase in defense expenditure is expected to boost the demand for advanced defense systems such as UAVs, UMVs, and UGVs, which is expected to boost the demand for advanced batteries.
- Increased Demand for UAVs Equipped with Long Endurance Capability
- Increased Use of Lightweight and High-Power Density Military Batteries
- Increased Demand for Solid-State Batteries
- Need for Better Battery Management Systems
- Lead-Acid Battery: The lithium batteries segment accounted for the largest market share and is expected to register the highest CAGR during the review period. This is due to the high usage of lithium batteries in unmanned systems.
- Lead-Acid Battery: This segment is expected to register the highest CAGR during the forecast period. A lead-acid battery cell includes an anode made of lead oxide and a cathode of elemental lead submerged in an electrolyte solution of sulfuric acid. The lead-acid batteries have good energy storage and power provision properties.
- Nickel-Cadmium Battery: This segment is expected to record a steady CAGR during the forecast period. Nickel-cadmium cells have an anode made from cadmium hydroxide and a cathode of nickel hydroxide that are submerged in an electrolyte made up of potassium, sodium, and lithium hydroxides. Nickel-cadmium batteries are reliable, require relatively low maintenance, and have a wide operating temperature range. Thus, the demand for these batteries has been increasing over the last few years.
- Land: The segment dominated the military battery market in 2019. This is due to the high demand for advanced batteries for land-based systems such as UGVs, combat vehicles, and soldier systems.
- Maritime: The segment is expected to witness the highest growth during the forecast period, 2019 to 2026. This is due to the increasing demand for batteries for naval defense systems.
- Airborne: The segment is expected to register the highest CAGR during the forecast period. Airborne systems such as aircraft and UAVs require high energy density batteries for their operation.
- Space: The segment is expected to witness steady growth during the forecast period, 2019 to 2026. Satellites that carry payloads and offer voice or data communication and optical imagery requires advanced batteries for their operation.
- North America: North America dominates the military battery market. This trend is projected to continue during the forecast period due to the presence of prominent players, such as Arotech Corporation, Eaglepicher, and Enersys, and high investments made by these companies in the development of advanced batteries for defense applications.
- Europe: The increasing adoption of advanced systems such as UAVs, UGVs, and UMVs by the military organization in Europe for performing intelligence, surveillance, and reconnaissance missions are expected to boost the demand for military battery in the review period.
- Asia-Pacific: The market in this region is projected to expand at a high CAGR during the forecast period. Increasing defense expenditure and rising terrorist activities in countries such as India, China, Indonesia, and Australia are driving the growth of the market in the region.
- Middle East & Africa: The increase in defense expenditures by countries such as Saudi Arabia, the UAE, and Israel is driving the market growth in the Middle East & Africa.
- Latin America: In Latin America, there has been an increase in the use of UAVs for intelligence gathering on drug trafficking and rebel groups, deforestation monitoring, and control of illegal migration, which is expected to boost the demand for military battery and solutions.
- 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)
Other Prominent Players
- Lincad (UK)
- Mathews Associates Inc. (US)
- Navitas Systems (US)
- Teledyne Battery Products (US)
- Ultralife Corporation (US)
Frequently Asked Questions (FAQ) :
USD 3.81 Billion will be the valuation of the market.
Global Military Battery Market’s CAGR is calculated to be 5.8%.
The growth of the Global Military Battery Market is from 2019 to 2026.
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.