Military Battery Market

As per Market Research Future Analysis, the global Military Battery Market is projected to reach USD 3.81 Billion by 2032, with a CAGR of 5.8% from 2024 to 2032. The demand for advanced batteries is driven by the increasing military spending, which has risen to nearly USD 1.82 trillion, and the growing need for high-energy density batteries in unmanned systems. Lead-Acid Batteries are expected to generate the highest CAGR, while Lithium Batteries will account for the largest market share. The airborne segment is anticipated to hold the highest CAGR due to the demand for UAVs and aircraft operations. The market is also facing challenges such as charging issues and safety regulations related to lead-acid batteries.

BST Systems, Inc. (US), Bren-Tronics (US), Concorde Battery Corporation (US), Arotech Corporation (US), Saft Group SA (France), Eaglepicher (US), Kokam (South Korea), Enersys (US), Denchi Power Ltd (UK).

Market Growth and Trends:

February 2024:

 A report by GlobeNewswire highlights the projected growthof the Military Aircraft Battery Market with a CAGR (Compound Annual Growth Rate) until 2030. The report emphasizes the evolving needs of modern warfare, increasing reliance on sophisticated electronics, and demand for high-performance batteries driving this growth.

Technological Advancements:

October 2023:

 A report on LinkedIn highlights various companies like Saft and EaglePicher Technologies engaged in research and development efforts to improve battery energy density and operational life. This focus on technological advancements remains a key area of interest for the market.

Competitive Landscape Analysis

As per the Military Battery Market Forecast report, the major key players of the global market are:

• 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).

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. 

Recent Developments

• In May 2018, a subsidiary of Arotech Corporation named Epsilor-Electric Fuel Ltd. had signed a contract with Harris Corporation. This agreement was proposed to supply rechargeable batteries for its PRC-117 manpack radios and Falcon PRC-152 handheld radios for a customer of Southeast Asia.