Global Military Battery Market

Military Battery Market Size, Share, Growth Analysis, By Product(Lead-Acid Battery, Lithium Battery), By Composition(Land, Space) - Industry Forecast 2024-2031

Report ID: SQMIG20A2231 | Region: Global | Published Date: February, 2024
Pages: 202 | Tables: 66 | Figures: 77

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Military Battery Market size was valued at USD 1.6 billion in 2021 and is poised to grow from USD 1.68 billion in 2022 to USD 2.48 billion by 2030, growing at a CAGR of 6.24% in the forecast period (2023-2030).

The market exhibitions a moderate level of merging, with a handful of major players imposing a significant share of the revenue. These key industry participants are advantageously intent on the introduction of innovative products to support their market positioning. Additionally, their focus extends to performing strategic initiatives, including partnerships, product launches, and collaborations, enhancing their overall market presence. 'Saft Groupe S.A.', 'EnerSys', 'EaglePicher Technologies', 'Bren-Tronics', 'GS Yuasa Corporation', 'Kokam Co., Ltd.', 'Arotech Corporation', 'Ultralife Corporation', 'Enersys', 'Exide Technologies', 'CBAK Energy Technology', 'Lincad Ltd.', 'EVE Energy Co., Ltd.', 'A123 Systems', 'Raytheon Technologies Corporation', 'Denchi Group', 'EverExceed Industrial Co., Ltd.', 'Rheinmetall AG', 'Concorde Battery Corporation', 'Sion Power Corporation', 'NorthStar Battery Company', 'Leoch International Technology Limited'

The market is grieving a surge in growth due to the increasing demand for portable power solutions within the defense sector. As modern military operations progressively rely on an assembly of electronic devices and equipment, the need for reliable and efficient portable power sources has become supreme. Military batteries play a crucial role in driving a wide array of applications, including GPS units, communication systems, night vision devices, portable medical devices and unmanned aerial vehicles used in field operations. The growing trend towards the digitization and electrification of military systems has strengthened the demand for advanced and lightweight batteries capable of carrying sustained power in challenging operational environments. Moreover, the stress on enhancing the mobility and agility of military forces further underscores the rank of compact and high-performance batteries.

The rise of vesture technologies has become a transformative factor, redesigning the landscape of modern warfare. Wearable devices, ranging from smart helmets and augmented reality headsets to health monitoring systems, have become integral components of military operations, pretty soldier capabilities and situational awareness. The swelling adoption of these wearable technologies necessitates advanced, lightweight, and high-performance batteries to power these devices seamlessly during mission-critical tasks. Military personnel now exploit wearables for communication, navigation, real-time data analysis, and health monitoring, among other applications.

During the forecast period, North America emerged as the dominant regional market for batteries. The North American construction industry is poised for substantial growth, driven by the increasing demand for non-residential infrastructure in the years to come. The battery market in the region is expected to experience expansion, propelled by a rise in investments in eco-innovations, encompassing electric bikes, cranes, and forklifts.

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Global Military Battery Market

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