Global Military Battery Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029
A military battery is a power storage device that commonly features high energy and high power. It is used in military electronic equipment such as vehicles, aircraft, ships, operating bases, unmanned vehicles, and submarines. This type of batteries also acts as a backup in such conditions where electricity sources may fail.
Market Overview:The latest research study on the global Military Battery market finds that the global Military Battery market reached a value of USD 2451.09 million in 2022. It’s expected that the market will achieve USD 3381.59 million by 2028, exhibiting a CAGR of 5.51% during the forecast period.
Influence of COVID-19 Outbreak on Military Battery Industry Development
The military industry, including military batteries, is less affected by macroeconomic fluctuations and has weak cyclical properties. With the increasing degree of national defense informationization and military modernization, it is expected that countries will strengthen their investment in national defense budget in the future, thus forming a stable support for military battery demand, and the military battery industry is expected to maintain growth. Based on the urgent needs faced by the modernization of national defense, we believe that the growth of military spending in 2020 will remain stable. Although the current economic downward pressure is high, the demand in military industry is relatively independent, and military batteries will also maintain stable growth.
Supply-side shocks are some of the most obvious impacts of the epidemic on the defense sector. Companies that are located in countries severely affected by the virus, or those that rely on supply chains located in affected countries, are the direct victims of the epidemic. Disruptions in global value chains can be particularly devastating for small and medium-sized companies and niche firms. State-sponsored rescue plans may save some of these companies, more diversified firms appear to be doing better, and some may be stronger than before.
Limitations
The global supply of raw materials for military batteries is relatively concentrated, with Asia and South America being the main raw material supply regions. North America as well as Europe and other military developed regions rely on import features more obviously. A wide range of elements is used in Li-ion battery cells including lithium (Li), nickel (Ni), cobalt (Co), manganese (Mn), aluminum (Al), copper (Cu), silicon (Si), tin (Sn), titanium (Ti) and carbon (C) in a variety of forms, e.g., natural graphite. These elements are harvested from raw materials mined from the earth's crust or recovered from surface water. According to the US Geological Survey, Argentina alone accounts for 53.0% of lithium imports. Since the military batteries represents a relatively small portion of the overall market, the products delivered are built to commercial requirements and may not meet military requirements for many performance parameters. Long lead times for components and materials are also an issue. Currently, they are measured in months, which complicates sudden increases in production when needed.
As new weapons, such as new tactical ground vehicles, unmanned systems, and directed energy weapons, are designed around the high energy density and low weight of military battery technology, the reliance on them is expected to grow exponentially. So the challenge for battery manufacturers is to create a battery that when attached, directly or indirectly, does not impact the soldier’s speed or performance. This means creating a device where size, weight and power are fundamental in the design without jeopardizing the quality. This can be particularly difficult for OEMs as they implement more features into communication devices or other military related systems and equipment. For example, many heavy-duty military vehicles were originally designed so that the batteries fitted supplied just enough power to turn on the engine and operate any ancillary equipment. Today’s military vehicles, however, are designed to include the latest electronics and electrical advancements, including mission-critical sensors, communication devices and control systems.
Region Overview:From 2023-2028, United States is estimated to witness robust growth prospects.
Company Overview:Saft is one of the major players operating in the Military Battery market, holding a share of 17.07% in 2020.
Saft is a company that provides advanced technology batteries and systems. It offers design, development, production, and customization of rechargeable and non-rechargeable batteries. The company serves to the aerospace and defense, medical, telecommunication, oil and gas, transportation, and other sectors.
EnerSys is the global leader in stored energy solutions for industrial applications. They complement their extensive line of motive power, reserve power, aerospace/defense and specialty batteries with a full range of integrated services and systems.
Segmentation Overview:Among different product types, Lithium Battery segment is anticipated to contribute the largest market share in 2028.
Application Overview:By application, the Backup Power segment occupied the biggest share from 2018 to 2022.
Key Companies in the global Military Battery market covered in Chapter 3:HBL Power Systems Ltd
Saft
Concorde Battery
Teledyne Battery
BST Systems
Denchi Power
Bren-Tronics, Inc.
Arotech Corporation
Kokam
Mathews Associates
Navitas Systems
EnerSys
Lincad
EaglePicher Technologies
Ultralife
In Chapter 4 and Chapter 14.2, on the basis of types, the Military Battery market from 2018 to 2029 is primarily split into:Lithium Battery
Lead Acid Battery
Nickel Battery
Thermal Battery
Others
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Military Battery market from 2018 to 2029 covers:Propulsion Systems
Auxiliary Power Units (APU)
Backup Power
Ignition Systems
Communication & Navigation Systems
Fire Control Systems
Electro Optics & Thermal lmaging Systems
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)