DUBLIN, June 30, 2022 /PRNewswire/ -- 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.
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).
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
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
Regulations on Lithium Batteries
Advancements in Material Sciences and Battery Technology
Innovations in Smart Battery Technology
Emerging Markets in Southeast Asia
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
Private and Small Enterprises
Wireless Charging for Drones
Conformable Wearable Batteries
Advancements in Lithium-Ion Film Technology
Next-Generation Solid-State Battery Technology
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
Bae Systems plc
Gs Yuasa International Ltd
Bst Systems, Inc.
Korea Special Battery Co., Ltd.
Ecobat Battery Technologies
Sterling Planb Energy Solutions
For more information about this report visit https://www.researchandmarkets.com/r/8zp6qj
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