Submarine Battery Market : Future Plans And Opportunity Assessment 2027

A submarine is a watercraft, which is used for various commercial and military applications. In submarines, a battery plays a major role in smooth running of the submarine. For power supply, the submarines are equipped with diesel engine that burns fuel or nuclear reactors that use nuclear fusion, which helps to charge the batteries of submarines. Rising demand for unmanned underwater vehicles is one of the major driving factors for the market growth.

Rising application of submarines such as commercial use, research, air crash investigation, naval use (intelligence, surveillance, and reconnaissance, mine countermeasures, anti-submarine warfare, inspection/identification etc.) have accelerated growth of the submarine battery market, globally. Moreover, increasing investment for production of submarines is also supporting growth of the market of submarines battery globally.

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Key Players Operating in The Market Are: EnerSys, EverExceed Corporation, Exide Industries, Exide Technologies, GS Yuasa Corporation, HBL Power Systems Limited, Korea Special Battery Co., Ltd., Sunlight Systems S.A, and Zibo Torch Energy Co., Ltd.

Market Insights:
Increasing investment for production of submarines is also supporting growth of the market of submarines battery globally. For instance, in April 2018, Australian steel making companies, Bisalloy and BlueScope announced that they signed contracts with Australia navel group 'Royal Australian Navy' to produce up to 250 tons of specialized steel for future submarine program. Similarly, In May 2018, the U.K. government announced investment of US$ 2.94 billion (Euro 2.5 billion) for the development of nuclear submarine and U.K. Defense Secretary also announced that the ministry of defense has released fund of US$ 1.98 billion (£1.5 billion) to build a seventh Astute hunter-killer submarine for the Royal Navy.

Regional Analysis:
North America held the dominant position in the submarine battery market in 2017 and is expected to retain its dominance throughout the forecast period. The U.S. and Canada are the major countries, which drive growth of the submarine battery market in this region. Increasing spending on submarines and increasing defense budget under National Defense Authorization Act have accelerated growth of the market in this region.

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