DETROIT, Oct. 24, 2024 (Globe Newswire) —
According to Stratview Research analysis, the global defense battery market is expected to grow at an annual growth rate of 3.8% from 2023 to 2028, reaching a size of USD 2.8 billion by 2028.
Stratview Research, a global market research company, has published a report on the global Defense Battery market offering a comprehensive outlook including global and regional industry forecasts, current and emerging trends, segment analysis, and competitive landscape. did.
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Report highlights
Market size in 2028 (US$ billion)
2.8
Growth (CAGR)
3.8% from 2023 to 2028
Forecast period
2023-2028
trend period
2017-2021
base year
2022
Number of target segments
3
Number of tables and graphs
100+
Country level market assessment
20
Segment Insights on Defense Battery Market:
The global defense battery market is segmented on the basis of application type, battery type, and region.
Based on application type – the market is segmented into base camps, weapon systems, armored/military vehicles, submarines, night vision systems, etc. Night vision systems are the fastest growing application type in the market and are expected to continue to dominate during the forecast period. Night vision equipment is very important in the field of defense, assisting soldiers in low light and dark situations.
The increasing adoption of night vision systems in defense applications is driving growth in this field. In addition to that, rising terrorist activities, increasing military spending and modernization, increasing requirements for advanced and enhanced night vision systems, and technological advancements such as thermal imaging and digital signal processing further fueled the market growth during this period. expected to promote. Forecast period.
Based on battery type – the defense battery market is segmented into lead-acid, lithium-ion, nickel-cadmium, etc. Lithium-ion batteries remain the largest and fastest-growing battery type in the market during the forecast period due to increasing demand for lithium-ion batteries from power-hungry military equipment and improved durability of lithium-ion batteries. It is expected that this will continue to be the case. harsh military situation.
In addition, lithium-ion batteries have several advantages, such as higher energy density, the ability to store more energy in a small space, longer battery life than other types of batteries, such as nickel-cadmium batteries, and faster charging. There are advantages. , which is important for time-critical military operations. A new generation of lightweight lithium-ion batteries is more powerful than traditional lead-acid batteries, offering unparalleled advantages to today’s military.
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Which regions show the most promising growth forecasts and opportunities?
This analysis suggests that North America is expected to remain the largest market for defense batteries during the forecast period. The main reasons for this growth outlook are:
The region has the world’s largest defense market, with the United States alone accounting for more than 38% of global military spending in 2021.
In addition, the presence of the world’s leading defense battery manufacturers, technological advances, geopolitical threats, and military modernization are expected to further increase the demand for defense batteries in the region.
Similarly, Asia-Pacific is projected to be the fastest growing region during the forecast period due to military modernization and increased defense spending, especially in emerging countries such as China and India. Europe could also create significant opportunities over the next five years.
Driving forces of the defense battery market:
Some of the key factors mentioned in the report are listed below.
Rising military spending, increasing demand for portable and mobile equipment on the battlefield, and increasing demand for rechargeable lithium-ion batteries are likely to generate major demand for defense batteries during the forecast period.
The increasing adoption of UAVs and advanced vehicles is expected to further fuel the growth of the defense battery market.
Top 10 companies in the defense battery market:
This market is densely populated with multiple regional and global players. Most of the major players compete on several dominant factors such as price, product offering, and regional presence. Stratview Research has identified the following companies as top market players (listed alphabetically):
Bae Systems PLC
C&D Technologies Co., Ltd.
Contemporary Amperex Technology Co., Limited (CATL).
enasis
Exide Technologies
EaglePicher Technologies
East Penn Manufacturing Company
GS Yuasa International Co., Ltd.
Saft Group SA
Toshiba Corporation
What deliverables will this report provide?
Key questions this report answers
Related contents of the report
How many sales opportunities are there?
Detailed analysis of the defense battery market
How much money will you make in the future?
Market forecasts and trend data, new trends
Which regions offer the greatest sales opportunities?
Historical data and forecasts at global, regional and country levels
Which market segment is the most attractive?
Market segment analysis and forecasting
Who are the top players and their position in the market?
Competitive situation analysis, market share analysis
How complex is the business environment?
Porter’s Five Forces Analysis, PEST Analysis, Life Cycle Analysis
What are the factors influencing the market?
Drivers and challenges
Can I get information regarding my specific requirements?
10% free customization
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About us –
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