Military Battery Market worth $1.6 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO  , May 19, 2022 /PRNewswire/ -- According to a research report "Military Battery Market by Type (Rechargeable, Non-rechargeable), Installation (OEM, Aftermarket), Application (Propulsion, Non-propulsion), Platform (Ground, Airborne, Marine), Composition, Voltage, Power Density and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Military Battery Market is projected to grow from USD 1.3 billion in 2022 to USD 1.6 billion by 2027, at a CAGR of 4.1% from 2022 to 2027. The advent of rechargeable batteries in terms of compact designs and high power density, is one of the major driving factor for the demand of military battery market. 

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=135165088

By composition, the lead-acid segment is expected to lead the market during the forecast period

Based on composition, the military batteries market has been segregated into lithium-based, lead-acid, nickel-based, thermal, and others. The lithium-based segment has been further segregated into lithium nickel manganese cobalt, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminum oxide. Most aerospace and defense equipment uses lithium-based batteries. By composition, the lead-acid segment is estimated to account for the largest share (38%) of the military battery market in 2022. This segment is projected to grow from USD 496 million in 2022 to USD 605 million by 2027, at a CAGR of 4.1% during the forecast period.

By platform, the ground segment has the highest share in the forecasted period

Based on platform, the military battery market has been segmented into ground, marine and airborne. The ground segment is projected to grow at a highest share. This growth can be attributed to the developments taking place in military battery market with respect to partnership, investments, and development of new products.

Browse in-depth TOC on "Military Battery Market"
188 – Tables
49 – Figures
204 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=135165088

Rechargeable battery segment has the highest share in the forecasted period

Based on type, the military battery market has been segregated into rechargeable and non-rechargeable batteries. The type segment provides information on the rechargeable and non-rechargeable batteries. A rechargeable battery or storage battery can be charged, discharged, and recharged many times. It is composed of one or more electrochemical cells. Rechargeable batteries cost more than primary batteries but have a lower total cost of ownership.

Europe has the highest share in the forecasted period.

The Europe military battery market is projected to grow at the second highest rate of 4.2% during the forecast period. The growth of this market is driven by the demand for advanced, energy-efficient, and lightweight batteries which offer enhanced safety, functionalities, and reliability.

Key players in the military battery market include EnerSys (US), GS Yuasa International Ltd (Japan), Saft (France), Exide Industries (India), and EaglePicher Technologies (US). The players are largely focused on new product development and launches, and having a strong global presence will help them gain a competitive advantage in the military battery industry. These companies are concentrating their efforts on breaking into new markets by launching technologically superior and cost-effective platforms and infrastructure solutions. These companies, in addition to new product releases and advances, have adopted partnership, contracts and agreement strategy.

Related Reports:

Marine Battery Market by Battery Type (Lithium, Nickel Cadmium, Fuel Cell, Lead-acid), Propulsion Type (Fully Electric, Hybrid, Conventional), Ship Type, Sales Channel, Nominal Capacity, Battery Design, Battery Function, & Region (2021-2030)

Aircraft Battery Market by Offering (Product- Battery (NICAD, Lithium Ion, Lead Acid, Others), BMS, Services) Application (Propulsion, APU, Emergency), Aircraft Type, End User, Power Density, Aircraft Technology, and Region - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/military-battery-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/military-battery.asp

SOURCE MarketsandMarkets

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED