According to a research report 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%. The rising demand for compact and high-power density rechargeable batteries is a major driving factor for this market.
Major Key Market Players
- EnerSys (US)
- GS Yuasa International Ltd (Japan)
- Saft (France)
- Exide Industries (India)
- EaglePicher Technologies (US)
These companies focus on new product development, global expansion, and strategic partnerships to gain a competitive edge in the military battery market.
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Key Market Segments
By Composition
- Lead-Acid: Expected to lead the market with a projected growth from USD 496 million in 2022 to USD 605 million by 2027.
- Lithium-Based: Includes lithium nickel manganese cobalt, lithium iron phosphate, and others.
- Nickel-Based, Thermal, and Others
By Platform
- Ground: Anticipated to hold the highest market share due to ongoing partnerships, investments, and new product developments.
- Marine and Airborne
By Type
Rechargeable/Non-Rechargeable Batteries: Dominating the market due to their ability to be charged, discharged, and recharged multiple times, despite a higher initial cost compared to non-rechargeable batteries.
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Regional Insights
Europe: Projected to grow at a rate of 4.2%, driven by the demand for advanced, energy-efficient, and lightweight batteries that offer enhanced safety and reliability.
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