Military Battery Market : Communication and Navigation Systems, Fire Control Systems and Ammunition Industry Forecast, 2021-2031 | AMR

The global military battery market size was valued at $1.6 billion in 2021, and is projected to reach $2.5 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.

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Military battery manufacturers in North America have received numerous contracts from the U.S. government for the development and production of batteries for weapon system, which contribute in the growth of the market in the U.S. region. For instance, in April 2022, Lockheed Martin received a $74 million contract to produce the Terminal High Altitude Area Defense (THAAD) weapon system for the Missile Defense Agency (MDA). The contract also includes the production of an eighth THAAD battery for the U.S. government. With the addition of eighth battery THAAD weapon system will enhance readiness against existing and evolving ballistic missile threats.

COVID-19 Impact Analysis :

The COVID-19 pandemic impacted the military battery market in a negative manner owing to commute restrictions, shutdown of military battery manufacturing plants and weak financial performance of market players during the COVID-19 period. However, post pandemic, rising adoption of unmanned aerial vehicles in defense organizations has been observed. Owing to this, military battery manufacturers have started to develop batteries for UAVs, which is supplemeting the market growth. For instance, in 2020, Bren-Tronics developed the first 2-B fully MIL-PRF-32565B compliant 6T battery for use in militar's unmanned vehicles, communication systems, weapon systems and others.

Moreover, technological advancements in battery technology such as development of lithium tungsten batteries and others is expected to offer opportunities for the market players.

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KEY FINDINGS OF THE STUDY :

By battery type, the lithium based segment is anticipated to exhibit significant growth in the near future.

By platform, the ground segment is anticipated to exhibit significant growth in the near future.

By voltage, the less than 12 V segment is anticipated to exhibit significant growth in the near future.

By application, the communication & navigation systems segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global military battery market include Bren-Tronics, Inc., Cell-Con, Inc., Denchi Group Limited, EaglePicher Technologies, LLC, Eco-bat Technologies Limited, Enersys, Exide Technologies, LLC, Lincad Limited, Saft, and Ultralife Corporation.

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