According to the latest report from Future Market Insights (FMI), the global Military Batteries Market is projected to increase from USD 1.4 billion in 2023 to USD 2.2 billion by 2033. During this period, sales of military batteries are anticipated to grow at a CAGR of 4.7%, creating an absolute incremental opportunity of approximately USD 0.805 billion through 2033.
The majority of the demand for military batteries is expected to stem from land platforms, driven by the rising use of land-based military equipment, such as vehicles and missile systems that require reliable battery power. The land platform segment is forecast to grow steadily at a CAGR of 4.5% throughout the assessment period, presenting lucrative revenue opportunities for manufacturers of military batteries.
The robust growth of the military and defense sector, along with the increased adoption of advanced military systems, is likely to further stimulate the global Military Batteries Market.
Military batteries are designed specifically for military applications, providing enhanced energy density, reduced weight, and longer lifespans to power a diverse range of defense systems and equipment.
Government spending on military and defense systems worldwide is expected to drive demand for military batteries during the forecast period. Additionally, the rising popularity of unmanned aerial vehicles (UAVs) and the widespread use of lithium-ion batteries are set to contribute to market growth.
Other factors anticipated to boost market expansion include the development of compact, lightweight, and high-power density batteries, as well as the increasing electrification of military and defense equipment. Growing environmental concerns and fluctuations in fuel prices are encouraging military organizations to explore electric aircraft for military applications, further driving demand for military batteries.
Key Takeaways from this Market Research Study:
- The global Military Batteries industry is predicted to cross a valuation of US$ 2.2 billion by 2033.
- By platform, land segment is poised to exhibit a CAGR of 4.5% during the assessment period.
- Based on capacity, below 12V segment is projected to thrive at 4.4% CAGR through 2033.
- The United States Military Batteries Market is forecast to attain a valuation of over US$ 0.371 billion by 2033.
- Military battery demand in Japan market is set to increase at 4.7% CAGR between 2023 and 2033.
- China Military Batteries industry is projected to cross a valuation of US$ 0.480 billion by 2033.
- The United Kingdom market is poised to exhibit a CAGR of 4.5% through 2033.
- Military battery sales in Korea are likely to soar at 4.3% CAGR during the forecast period.
Competitive Landscape:
- Arotech Corporation
- Bren-Tronics, Inc.
- BST Systems, Inc.
- Cell-Con, Inc
- Concorde Battery Corporation
- Denchi Power Ltd.
- EaglePicher Technologies LLC
- EnerSys, Inc.
- Kokam Co., Ltd.
- Lincad Ltd
These key players are introducing new batteries for specific military applications to increase their revenues. They are also employing strategies such as acquisitions, mergers, agreements, partnerships, and facility expansions to stay ahead in the market.
Key Companies Profiled
- Arotech Corporation
- Bren-Tronics, Inc.
- BST Systems, Inc.
- Cell-Con, Inc.
- Concorde Battery Corporation
- Denchi Power Ltd.
- EaglePicher Technologies LLC
- EnerSys, Inc.
- Kokam Co., Ltd.
- Lincad Ltd
Global Military Batteries Market Segmentation:
By Platform:
- Land
- Marine
- Aviation
By Capacity:
- Below 12V
- 12 to 24V
- Above 24V
By Type:
- Rechargeable
- Non-Rechargeable
By End Use:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/military-batteries-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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