Detroit, Oct. 24, 2024 (GLOBE NEWSWIRE) --
The global Defense Battery Market is projected to witness a growth rate of 3.8% annually from 2023 to 2028, with an anticipated size of US$ 2.8 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global defense battery market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/3409/defense-battery-market.html#form
Report Highlights
| Market Size in 2028 (billion US$) | 2.8 |
| Growth (CAGR) | 3.8% during 2023-2028 |
| Forecast Period | 2023-2028 |
| Trend Period | 2017-2021 |
| Base Year | 2022 |
| Number of Segments Covered | 3 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Defense Battery Market:
The global Defense Battery Market is segmented based on application type, battery type, and region.
Based on application type - The market is segmented into base camps, weapon systems, armored vehicles/military vehicles, submarines, night vision systems, and others. The Night vision system is expected to remain the dominant as well as the fastest-growing application type in the market during the forecast period. Night vision devices have been very significant in the field of defense, assisting soldiers during low light or dark conditions.
The rising adoption of night vision systems in defense applications is fueling the growth of the segment. In addition to that, the rise in terrorist activities, rising military expenditure & modernization, increased requirement of advanced and enhanced night vision systems, and technological advancements such as thermal imaging and digital signal processing, are further expected to drive the growth of the market during the forecast period.
Based on the battery type - The defense battery market is segmented into lead-acid, lithium-ion, nickel-cadmium, and others. Lithium-ion is expected to remain the largest and the fastest-growing battery type in the market during the forecast period, owing to the increasing demand for lithium-ion batteries from power-demanding military devices and the capability of lithium-ion batteries to withstand severe military conditions.
Further, Lithium-ion batteries offer several advantages such as high energy density, which means they can store a lot of energy in a small space, have a longer battery life than other types of batteries such as nickel-cadmium batteries, can be recharged quickly, which is important for military operations where time is critical. The new generation of lightweight lithium-ion batteries is more powerful than traditional lead-acid batteries, offering unparalleled advantages to today’s armed forces.
To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market for defense batteries during the forecast period. This growth outlook is majorly attributed to the following–
- The region has the largest defense market in the world, the USA alone contributed more than 38% of the global military expenditure in the year 2021.
- In addition to that, the presence of the world's leading defense battery manufacturers, technological advancements, geopolitical threats, and military modernization are further expected to fuel the demand for defense batteries in the region.
Likewise, Asia-Pacific is projected to be the fastest-growing region during the forecast period due to the modernization of armed forces and increase in defense spending, especially in emerging economies, such as China and India. Europe is also likely to create sizeable opportunities in the coming five years.
Defense Battery Market Drivers:
Some of the key drivers listed in the report are given below.
- Rise in military expenditure, increasing demand for portable equipment and mobile devices on the battlefield, and growing demand for rechargeable lithium-ion batteries, are likely to be the major demand generators for batteries in defense during the forecast period.
- The increasing adoption of UAVs and advanced vehicles is further expected to fuel the growth of the defense battery market.
Top 10 Companies in the Defense Battery Market:
The market is highly populated with the presence of several regional and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- Bae Systems PLC
- C&D Technologies Inc.
- Contemporary Amperex Technology Co., Limited (CATL).
- EnerSys
- Exide Technologies
- EaglePicher Technologies
- East Penn Manufacturing Co.
- GS Yuasa International Ltd.
- Saft Group S.A
- Toshiba Corporation
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Defense Battery Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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About us –
Stratview Research is a global market research firm that highly specialises in aerospace & defense, chemicals, and a few other industries.
It launches limited number of reports annually on the above-mentioned specialisations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies to meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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