The report "Military
Battery Market by Platform (Aviation, Land, Marine, Space,
Munition), End User (OEM, Aftermarket),
Type (Rechargeable, Non-Rechargeable), Offering, Power Density, Energy
Consumption, Application, Composition, and Region - Global Forecast to
2023", The military battery market
is estimated to be USD 2.42 billion in 2018 and is projected to reach USD 3.17
billion by 2023, at a CAGR of 5.57% from 2018 to 2023. Increasing modernization
among armies to replace technologically obsolete armaments and increasing use
of unmanned vehicles are driving the growth of the market. The growth of the
military battery market can be attributed to the various army modernization
programs and rising demand for unmanned vehicles in militaries across the
world.
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Browse 71 market data Tables and 46 Figures spread through
150 Pages and in-depth TOC on "Military
Battery Market"
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The product offering segment is
projected to grow at the highest CAGR during the forecast period.
Based on offering, the product
segment of the military battery market is projected to grow at a higher CAGR
from 2018 to 2023. The increasing defense procurements in countries such as
China, India, are expected to fuel this segment’s growth.
The 100 Wh/Kg segment is projected
to grow at the highest CAGR during the forecast period.
Based on power density, the 100
Wh/Kg segment of the military battery market is projected to witness the
highest growth during the forecast period. This growth can be attributed to the
increasing demand for military vehicles among armies across the world.
The land platform segment is
projected to grow at the highest CAGR during the forecast period.
Based on offering, the land
segment of the military battery market is projected to grow at the highest CAGR
from 2018 to 2023. The increasing defense procurements for army modernizations
and procurement of technologically-advanced combat vehicles such as UGVs will
drive the land segment.
Asia Pacific is projected to be the
fastest-growing market for military battery during the forecast period.
The military battery market in
Asia Pacific is projected to grow at the highest CAGR during the forecast
period. The growth of the military battery market in Asia Pacific can be
attributed to factors such as increasing modernization to replace obsolete
weapons, aircraft, and ground vehicles.
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