Global Thermal Batteries Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Thermal Batteries Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Thermal batteries using ionic metal salts (chlorides, bromides, etc. sodium, potassium, and lithium) are the most widely used military batteries in missile and ammunition systems. Thermal batteries are widely used as primary power sources in various military and aerospace applications due to their reliable, maintenance-free, durable construction, and ability to meet long shelf-life requirements. They are for single use only (not rechargeable) and are custom designed to users' system specifications.

Market Overview:

The latest research study on the global Thermal Batteries market finds that the global Thermal Batteries market reached a value of USD 808.18 million in 2023. It’s expected that the market will achieve USD 1358.85 million by 2029, exhibiting a CAGR of 9.05% during the forecast period.

Benefits of thermal batteries

There are many benefits to thermal batteries, and understanding these benefits helps to understand the state of the art that the industry has reached. Depending on power density and volume requirements, thermal batteries can consist of a single stack of series-connected cells or a parallel stack of multiple series-connected cells. The battery stack is fully insulated and placed in a sealed stainless steel container. Thermal batteries are primary backup batteries that use inorganic salt electrolytes (non-conductive solids at ambient temperature) that require materials to melt them. The electrolyte is then highly conductive and can extract energy from the battery. Each battery consists of a cathode, an electrolyte separator, an anode, and a hydrothermal energy source. The battery can be activated at any time with no preparation needed and will start providing power almost immediately. Once activated, the battery continues to function until the key active material is depleted or until the battery cools below the melting point of the electrolyte. Thermal batteries are mainly used in military and space applications that require a single-use power source. Its main advantages are long storage life, no self-discharge, maintenance-free, high energy density, and fast voltage rise time after activation. Therefore, thermal batteries can survive in extremely harsh environments. Thermal batteries typically have a shelf life of more than 20 years and require no maintenance during that time. Thermal batteries can withstand high levels of vibration, shock, acceleration, high/low-stress levels, high humidity, etc. during storage and operation. Thermal batteries have a very short activation time, typically 150 ms to 1 s. Thermal batteries have an operating temperature range between -54°C and +85°C and can be activated electrically or mechanically, such as electric igniters, lightning caps, inertial igniters, etc. A pulse of energy from an external source activates the thermal battery and ignites pyrotechnic material within the battery to melt the electrolyte. Most importantly, the thermal battery is custom designed for acute voltage, cranking time, and configuration requirements. In principle, batteries made from cheap materials and known manufacturing processes should end up being much cheaper than lithium-ion. It is expected that the price of thermal batteries may decrease in the future with greater economies of scale. As a result, thermal batteries can easily replace multiple power sources with significant gains in size, weight, and reliability.

Military market expansion

According to a report released by the Stockholm International Peace Research Institute (SIPRI) in 2023, in 2022, world military expenditure was increased for the eighth consecutive year, reaching a record high of US$2.24 trillion. The Russia-Ukraine war is the main driver of spending growth in 2022. Europe saw the largest increase in spending (+13%), the largest annual increase in European total spending since the Cold War. Military aid to Ukraine and concerns about the heightened threat from Russia have strongly influenced the spending decisions of many other countries. Countries are building up their military capabilities in response to a deteriorating security environment. The United States remains the world's largest military spender. In 2022, U.S. military spending reached $877 billion, accounting for 39% of the global total. China remains the world's second largest military spender, reached $292 billion in 2022, an increase of 4.2% over 2021. Exponential growth in the military and defense sector coupled with continuous advancement in defense technologies is expected to drive the global military batteries market. Because military batteries are specifically developed to withstand the rigors of military conditions, they are not widely used commercially. Military thermal batteries serve as backup batteries in the event of a power outage. Military organizations are emphasizing the efficacy and longevity of battery systems to support extended missions and reduce logistical burdens. The pursuit of high-end lightweight fighter jets and modern combat systems has led to an increasing demand for more efficient, durable, and lightweight battery solutions. Growing environmental concerns and volatile fuel prices are prompting military and defense organizations to explore the potential of electric aircraft for military applications. In addition, in recent years, there has been considerable demand for drones and land vehicles equipped with ultra-long range and high-power military batteries. Battery manufacturers are continuously developing various chemistries to increase battery power density. Hence, heightened geopolitical tensions and increased investments by governments to enhance military infrastructure are likely to boost the demand for military thermal batteries.

Region Overview:

In 2022, the share of the Thermal Batteries market in Europe stood at 36.46%.

Company Overview:

The major players operating in the Thermal Batteries market include EaglePicher Technologies, Diehl Group, EnerSys, ASB GROUP, Rafael , etc. Among which, EaglePicher Technologies ranked top in terms of sales and revenue in 2023.

EaglePicher Technologies is a leading producer of batteries and energetic devices. For more than 80 years, we have been serving the mission-critical aerospace, defense and aviation battery markets. EaglePicher’s batteries are a key component of the U.S. space program. Today, EaglePicher batteries power the International Space Station, Mars Rovers, commercial jets and helicopters, life-saving medical implants and more than 85 percent of U.S. missile platforms.

From cells and batteries to complete power systems, you can trust EaglePicher’s comprehensive energy solutions to deliver power where you want it, when you need it. We bring the newest technology innovations, and we offer custom battery development. What's more, we fully support our customers — from concept through final production — through our eight U.S. facilities.

Segmentation Overview:

By type, Lithium Alloy / Metal Disulfide segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Military and Defense segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Thermal Batteries market covered in Chapter 3:

Rafael 
HBL Power Systems
ASB GROUP
EnerSys
EaglePicher Technologies
Sunamp
TÜBiTAK
Diehl Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Thermal Batteries market from 2019 to 2030 is primarily split into:

Lithium Alloy / Metal Disulfide
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Thermal Batteries market from 2019 to 2030 covers:

Aerospace and Aviation
Military and Defense
Automotive and Transportation
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) 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)