Latest News- Military Battery Market: OEM is expected to lead the End-user segment during 2024-2028

The Military Battery Market is being driven by Increasing military spending

The Military Battery Market is expected to grow at a CAGR of 3.69% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 370.1 million. In the military sector, the utilization of Unmanned Aerial Vehicles (UAVs) for operations is experiencing significant growth, with a primary focus on surveillance applications. Vendors are prioritizing the development of advanced batteries for both military and commercial UAVs. These advanced batteries, often Li-ion, are essential for military drones due to their high energy density and low weight, enabling extended flight times and versatility for real-time imaging in battle damage management and intelligence, surveillance, and reconnaissance activities. The global demand for military drones continues to escalate as nations invest in information warfare and the importance of real-time intelligence becomes increasingly apparent. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • OEM
  • Aftermarket
  • Defense Forces
  • System Integrators
• Technology
  • Non-rechargeable batteries
  • Rechargeable batteries
  • Emerging Technologies
• Platform
  • Ground
  • Airborne
  • Marine
  • Space
  • Munition
  • Wearable/Portable Soldier Systems
• Composition
  • Lead acid
  • Nickel-based
  • Thermal
  • Silver-based
  • Alkaline/Carbon-zinc
  • Lithium Variants
• Geography
  • Europe
    • France
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing military spending
• Growing use of batteries for backup power
• Development of efficient battery technologies

However, the market also witnesses some limitations, which are as follows:

• Necessity for adherence to military standards
• Performance risk in energy storage
• Growing competition from fuel cells

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Market Scope in Military Battery Market Research Report

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Research Analysis Overview

In the defense market, Al-air batteries and backup batteries play crucial roles as auxiliary power units in various applications. Defense forces rely on these batteries for communication equipment and systems during emergency situations and design constraints. Durable batteries with high efficiency are essential for ground vehicles, ships, submarines, and Concorde. Enersys batteries are preferred due to their reliability and ability to withstand hazardous gases. Regulations and security concerns dictate the use of non-hazardous, non-leaking batteries like SquadNet. Battery supply chains must ensure uninterrupted power supply, addressing concerns of electrolyte leakage and efficiency. Communication and surveillance systems depend on these batteries in defense applications.

Market Research Overview

The military battery market is a segment of the larger global renewable electricity market, encompassing businesses specializing in the production and distribution of backup power solutions for defense applications. Key components of this market include Al-air batteries, auxiliary power units, backup batteries, backup generators, battery management systems, and battery performance optimization. The market's expansion is driven by the increasing demand for reliable and sustainable power sources in military operations. Factors fueling growth include government policies and targets promoting renewable energy adoption, as well as the need for efficient battery supply chains to ensure optimal battery performance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/