The global military batteries market size is set to reach a notable valuation by 2032. The market is slated to grow at an appreciable CAGR over the analysis period.
Designed to stand extreme temperatures and weather, military batteries are used for a range of military purposes. They are prominently deployed for charging numerous devices such as radios, GPS devices, night vision devices, communication systems, weapons, and other equipment. The surging military expenditure across the globe is set to drive market growth over the coming years.
Fortune Business Insights™ provides this information in its research report, titled “Military Batteries Market, 2024-2032”.
List of Key Players Mentioned in the Military Batteries Market Report:
Bren-Tronics, Inc. (U.S.)
Cell-Con, Inc. (U.S.)
Denchi Group Limited (U.K.)
Eagle-Picher Technologies, LLC (U.S.)
Eco-bat Technologies Limited (U.S.)
Enersys (U.S.)
Exide Technologies LLC (U.S.)
Lincad Limited (U.K.)
Saft (France)
Ultra Life Corporation (U.S.)
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/military-batteries-market-108169
Russia-Ukraine War Impact:
Growing Need for Supporting Communication Systems Has Boosted Product Demand
The Russia-Ukraine war has led to an upsurge in the military batteries demand for supporting communication systems. The conflict has boosted a rise in investments in advanced equipment and technologies. However, delays have been recorded in the product manufacturing and distribution in the war areas owing to disruptions in the supply chain due to the conflict.
Segmentation:
Based on platform, the military batteries market is fragmented into ground, air, and marine.
By type, the market is subdivided into rechargeable, propulsion, non-rechargeable, and non-propulsion.
Based on composition, the market for military batteries is categorized into nickel-based, lithium-based, thermal, lead-acid, and others.
By voltage, the market is classified into above 14 V, 12 V – 14 V, and below 12 V.
Based on installation, the market is segregated into aftermarket and OEM.
Based on geography, the market for military batteries has been studied across North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report provides an analysis of the global business landscape on the basis of various segments: platform, type, composition, voltage, installation, and geography. The report also gives an overview of the key trends in the military batteries market and the major driving and restraining factors. An account of the pivotal strategies adopted by leading companies to consolidate their market positions has also been provided in the report.
Drivers and Restraints:
Product Demand to Surge Impelled by Rising Use of Unmanned Systems
The product demand is rising owing to the soaring adoption of unmanned systems such as UMVs (Unmanned Maritime Vehicles), UGVs (Unmanned Ground Vehicles), and UAVs (Unmanned Aerial Vehicles). Additional factor driving the military batteries market growth is the soaring demand for electric and hybrid military vehicles.
Nonetheless, the industry expansion could be hindered owing to the high costs associated with sustainability and the environmental impact of the product.
Regional Insights:
North America to Hold Key Share Owing to Extensive Product Adoption across Numerous Industries
North America is set to hold a leading position in the global military batteries market share. This can be credited to the extensive adoption of the product across a range of industries.
Other regional markets with lucrative growth opportunities for industry players are the Asia Pacific and Europe.
Competitive Landscape:
Industry Players Enter a Range of Contracts to Strengthen their Market Positions
Companies enter various contracts to consolidate their positions in the market. They are also adopting other strategies to strengthen their foothold in the industry. These steps include merger agreements, acquisitions, and the launch of new military batteries.
Key Industry Development: Military Batteries Market
August 2022 – Enovix Corporation secured a contract pertaining to the testing and construction of customized cells that would be deployed for the U.S. Army’s CWB (Conformal Wearable Battery). Developed by Inventus Power, the solution plays a vital role for ensuring power supply to essential navigation and communication equipment deployed by soldiers.
May 2021 – Inventus Power Inc., was awarded a contract by the U.S. Department of Defense. The USD 1.25 billion nine-year contract involved the supply of Conformal Wearable Batteries to the U.S. Army.