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Military Battery Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Military Battery Market Statistics 2028The global Military Battery market size is estimated to be worth US$ 2113 million in 2022 and is forecast to a readjusted size of US$ 2751.7 million by 2028 with a CAGR of 4.5% during the review period. Key drivers of the military battery market include the growing use of batteries as power storage devices on the battlefield and changes in fighting strategies.
The reliance on surveillance drones and remotely operated machinery such as robots will fuel the growth of the military battery market during the forecast period.
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The huge demand for rechargeable lithium-ion batteries in military operations will drive the growth of the market in the upcoming years.
The rapid advancements in battery technology will benefit the market expansion in the subsequent years.
Need for efficient power storage devices
Battlefield tactics are changing as portable equipment and mobile electronics are playing key roles in the military space. Military spending is rising across the globe as an investment in modern weaponry is an essential need. Batteries are the optimum choice for storing energy that helps in carrying out critical mission applications. As the sophistication of these equipment rises the demand for power increases even more. Off-grid operations rely heavily on the accumulated power of batteries. Fully electric and mobile machinery need to operate reliably in any extreme weather conditions like hot/humid deserts, tropical jungles, or arctic locations. Moreover, there is a consistent need for primary and secondary power backup sources for communication, navigation, computing, sensors, displays, imaging, etc. Batteries are ideal as they have a high discharge rate, are lightweight, smaller in size, and have more power per unit volume. Additionally, smart batteries automatically cut off the charge when it has reached its peak or lower the discharge rate when the power level is reduced. These factors will boost the growth of the military battery market during the forecast period.
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Segment by Type
• Lithium Battery
• Lead Acid Battery
• Nickel Battery
• Thermal Battery
• Others
Segment by Application
• Propulsion Systems
• Auxiliary Power Units (APU)
• Backup Power
• Ignition Systems
• Communication & Navigation Systems
• Fire Control Systems
• Electro Optics & Thermal Imaging Systems
• Others
BY COMPANY
• Arotech
• Bren-Tronics
• Eaglepicher
• Enersys
• Saft
• BST Systems
• Cell-Con
• Concorde
• Denchi Power
• Kokam
• Lincad
• Mathews Associates
• Navitas Systems
• Teledyne Technologies
• Ultralife
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https://reports.valuates.com/market-reports/QYRE-Auto-19B1280/global-military-battery
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