Jersey City, New Jersey, Feb. 13, 2024 (GLOBE NEWSWIRE) -- The Global Military Battery Market is projected to grow at a CAGR of 8.53% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 682.58 Million in 2022 and is expected to reach USD 1,272.74 Million by the end of the forecast period.
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Browse in-depth TOC on “Military Battery Market”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Arotech Corporations, Bren-Tronics, Eaglepicher, Inventus Power, Enersys, Saft, BST Systems Inc., Cell-Con, Concorde, and SolarEdge. |
| SEGMENTS COVERED | Type, Application, And Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Military Battery Market Overview:
Global Defense Budgets and Military Modernization Propel Military Battery Market:
The significant increase in defense expenditures worldwide is a crucial factor driving the growth of the Military Battery Market. As countries invest significant financial resources to improve their military capabilities, there is a corresponding rise in the need for sophisticated power solutions. This financial investment supports the process of updating defense equipment, with a focus on the requirement for dependable and high-capacity batteries to operate various portable and unmanned systems.
Technological Advancements and the Rise of Lithium-Ion Batteries in the Military Battery Market:
An important driver of market expansion is the ongoing advancements in battery technology, including the development of lithium-ion batteries. Continual research and development endeavors are yielding batteries with increased energy density, extended lifespan, and enhanced safety characteristics. The advancement in technology is meeting the military's need for power sources that are both efficient and compact, leading to the increased use of lithium-ion batteries in defense applications.
Demand for Energy-Efficient Solutions and Electrification in Defense Equipment:
The growing emphasis on energy efficiency is transforming the Military Battery Market. The quest for eco-friendly and sustainable power solutions is pushing the development of energy-efficient military batteries. With a rising emphasis on electrification in defense equipment, batteries serve a critical role in powering varied platforms, including electric vehicles and unmanned systems. This trend enhances the growth of the market as military forces pursue dependable and adaptable power sources.
Geopolitical Tensions and Evolving Warfare Dynamics Boost Military Battery Market
The interplay of geopolitical factors and the changing dynamics of warfare plays a crucial role in driving the growth of the Military Battery Market. Nations are increasing their military capabilities in response to escalating geopolitical tensions globally. This requires the implementation of sophisticated technology, such as durable and dependable military batteries, to meet the growing need for power in various combat situations. The market witnesses an increase in demand for state-of-the-art battery solutions as military plans progress, in order to fulfill the ever-changing requirements of contemporary combat.
Military Battery Market Key Players Shaping the Future
Major players, including Arotech Corporations, Bren-Tronics, Eaglepicher, Inventus Power, Enersys, Saft, BST Systems Inc., Cell-Con, Concorde, and SolarEdge., and more, play a pivotal role in shaping the future of the market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
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Based on the research, Verified Market Research® has segmented the global Military Battery Market into Type, Application, And Geography.
- Military Battery Market, by Type
- Lead Acid Batteries
- Lithium Batteries
- Nickel Batteries
- Thermal Batteries
- Others
- Military Battery Market, by Application
- Drones and UAVs
- Soldier Wearable or Soldier Carried Devices
- E-Aviation
- Marine UAVs and UUVs
- Military Battery Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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