The global military battery market size is expected to reach USD 1.85 billion by 2030, registering a CAGR of 4.11% from 2024 to 2030, according to a new report by Grand View Research, Inc.
The increasing use of ground vehicles and unmanned aerial vehicles (UAVs), rising military spending, and the preference for lithium-ion batteries over lead-acid batteries are the main factors propelling the growth of the worldwide military battery market. Regulating lithium batteries, however, is the thing impeding the market's expansion. Moreover, expanding Southeast Asian markets and advances in battery technology are anticipated to present development prospects over the projection period.
The government is spending more on unmanned aerial vehicles (UAVs) and ground vehicles as a result of the growing threat posed by terrorism and the rise in security concerns around the world. Unmanned aerial vehicle systems are widely used in the military and defense industry for efficient asset observations and area surveillance in order to maximize operational performance.
Gather more insights about the market drivers, restrains and growth of the Military Battery Market
UAVs are efficient to deploy under a variety of operational settings, can operate in different locations, can perform stealth operations, and can operate at night. Governments throughout the world are investing more money to build and acquire a large fleet of UAVs as a result of these advantages. In addition, nations such as the U.S. and the UK are spending money on UAVs and military vehicles for use in espionage, surveillance, and war operations. The military battery market will be driven by the defense forces' increased use of UAVs and ground vehicles.
Prominent nations including the U.S., Russia, China, Saudi Arabia, and India are bolstering their defense industries by allocating substantial resources towards the acquisition and creation of cutting-edge military apparatus. In addition, growing economies all around the world are updating their traditional military systems and weaponry to take on the enemy as concerns about terrorism and border security grow.
Military Battery Market Report Highlights:
- Ground segment led the market and accounted for 47.74% revenue share in 2023. Ground platforms constitute a significant portion of the military battery market, driven by the extensive use of batteries in vehicles, portable devices, and soldier systems
- Rechargeable segment is anticipated to grow at the fastest CAGR of more than 5.0% over the forecast period. Rechargeable batteries power a wide range of portable military devices, including communication systems, night vision goggles, and GPS units
- North America accounted for 15.49% market revenue share in 2023. North America is at the forefront of technological innovation in military batteries. There is a strong emphasis on developing batteries with higher energy densities, faster recharge times, and improved safety features
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List of Key Players in the Military Battery Market
- EnerSys
- GS Yuasa International Ltd
- Saft
- Exide Industries
- EaglePicher Technologies
- Bren-Tronics
- Kokam Co., Ltd.
- Ultralife Corporation
- Arotech Corporation
- CBAK Energy Technology
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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