The global military batteries market is estimated to reach USD 1.4 billion in 2023. Over the forecast period 2023 to 2033, global military battery sales are likely to surge at 4.7% CAGR, taking the overall market valuation to USD 2.2 billion by 2033.
In 2022, the worldwide military batteries industry valuation reached USD 1.3 billion and for the next ten years, it is expected to generate an absolute $ growth of USD 0.805 million.
As per Future Market Insights (FMI), demand is expected to remain high for military batteries with a capacity of below 12V. This is due to their widening applications in the military & defense sector. The target segment is anticipated to thrive at 4.4% CAGR through 2033.
Key Market Shaping Factors:
Military batteries are energy storage devices used as a power source in a variety of military systems, vehicles, and other equipment. These batteries are being designed for military & defense applications and meet diverse military standards and regulations.
Initially, conventional technologies such as lead-acid batteries and nickel-cadmium batteries were used for military applications. However, these batteries provided limited energy density and were big. This prompted users to look for other alternatives.
Advancements in battery technology allowed companies to develop novel solutions such as lithium-ion batteries and nickel-metal hydride batteries for military applications. Consumers prefer these advanced batteries since they offer improved energy density, reduced weight, and longer lifespan.
Growing usage of military batteries in the thriving military & defense sector is providing impetus for the development of the military batteries industry.
With military organizations emphasizing power efficiency and longevity in battery systems, they are rapidly turning towards lithium-ion batteries and employing battery management systems.
Military batteries are utilized for several purposes in the military & defense sector. This includes auxiliary power units, propulsion systems, ground vehicles, air defense missile systems, underwater robots, communication systems, unmanned reconnaissance aircraft, etc.
Modern military batteries used in military applications are much lighter and powerful than traditional lead-acid batteries. As a result, they offer more advantages to military forces and are gaining wider popularity throughout the world.
Increasing military spending globally is acting as a catalyst triggering growth of the military batteries industry.
Amid escalating tensions between countries and the intensifying race for becoming a superpower, military & defense spending is expected to rise rapidly during the next few years.
Countries are focusing on increasing their military expenditure to strengthen and expand their military infrastructure and deploy advanced military systems. New military and defense systems are being deployed which in turn is creating a high demand for military batteries.
Growing popularity and adoption of UAVs and ground vehicles is another key factor fueling military battery sales, and the trend is expected to continue through 2033.
In recent years, rising threat of terrorism and growing security concerns have prompted military forces to use advanced equipment such as unmanned aerial vehicles (UAVs). These solutions are ideal for asset monitoring and surveillance applications.
Increasing deployment of UAVs and ground vehicles in turn is expected to fuel demand for military batteries as they are critical components of these vehicles.
Rising usage of lithium-ion batteries over lead-acid batteries in the military & defense sector is expected to further boost the target market.
Leading military battery manufacturers are introducing novel solutions that meet the military’s tough standards. These new generation batteries are specifically designed for military applications such as defense vehicles and robots.
For instance, Epsilor recently launched its NATO 6T Li-ion rechargeable batteries that meet the safety requirements of the United States Army. The new batteries are ideal for defense vehicles and robots and offer better performance.
Development of these new and improved military batteries is expected to play a key role in boosting the overall market growth during the assessment period.
| Attributes | Key Insights |
|---|---|
| Estimated Global Military Batteries Market Value (2023) | USD 1.4 billion |
| Projected Market Size (2033) | USD 2.2 billion |
| Value-based CAGR (2023 to 2033) | 4.7% |
| United States Market CAGR (2023 to 2033) | 4.7% |
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According to Future Market Insights (FMI), global sales of military batteries increased at around 5.5% CAGR during the historical period 2018 to 2022. Accordingly, total market value at the end of 2022 reached USD 1.3 billion.
Looking forward, the global military batteries market is set to register a growth rate of 4.7% CAGR between 2023 and 2033. It will create an absolute $ growth of about USD 0.805 billion during the projection period.
Rapid expansion of military & defense sector along with growing need for lightweight and highly efficient batteries is a prominent factor driving the target market forward.
Growing demand for drones, UAVs, man-portable devices, and other modern combat systems is expected to bolster military battery sales during the assessment period.
The integration of renewable energy sources such as wind turbines and solar panels into military operations is a key trend creating growth prospects for the military batteries industry.
Rising trend of military vehicle electrification is expected to play a significant role in boosting the military batteries industry.
With rising concerns about emissions and implementation of stringent regulations, the military & defense sector is also moving towards electrification. New electric vehicles and aircraft are being introduced.
For instance, the US Air Force (USAF) recently conducted its first airman flight of an electric aircraft with military worthiness. This penetration of electrification in the military & defense sector will uplift military battery demand during the projection period.
High-energy density batteries such as lithium-ion batteries enable electric aircraft to achieve longer flight durations. As a result, military and defense organizations are heavily investing in military batteries with higher energy density and power capabilities to support operational requirements of electric aircraft.
| Countries | Projected CAGR (2023 to 2033) |
|---|---|
| United States | 4.7% |
| United Kingdom | 4.5% |
| China | 4.6% |
| Japan | 4.7% |
| South Korea | 4.3% |
| Countries | Market Value (2033) |
|---|---|
| United States | ~USD 0.371 billion |
| United Kingdom | ~USD 0.77 billion |
| China | ~USD 0.480 billion |
| Japan | ~USD 0.394 billion |
| South Korea | ~USD 0.102 billion |
| Countries | Historical CAGR (2018 to 2022) |
|---|---|
| United States | 5.4% |
| United Kingdom | 5.2% |
| China | 5.3% |
| Japan | 5.3% |
| South Korea | 4.7% |
Rising Military & Defense Spending to Bolster Military Battery Sales in the United States Market
According to Future Market Insights (FMI), the United States military batteries industry is forecast to attain a valuation of around USD 0.371.8 million by 2033. It is anticipated to create an absolute $ opportunity of about USD 0.136 million during the projection period.
From 2023 to 2033, sales of military batteries in the United States are expected to thrive at 4.7% CAGR, in comparison to 5.4% CAGR recorded from 2018 to 2022.
Increasing government spending on military and defense along with high demand for high power density batteries are key factors driving the United States market forward.
When it comes to military & defense spending, the United States leads from the forefront. It was the top nation in terms of military expenditure, spending around USD 801 billion in 2021 as per the EXECUTIVEGOV.
Over the projection period, military & defense spending in the United States is projected to witness an upward trajectory as the threat of confrontation with nations such as China, Russia, and Iran continues to rise. This in turn is expected to positively impact military battery sales.
The electrification of military equipment across the United States is anticipated to create a high demand for military batteries during the assessment period.
Strong presence of leading military battery manufacturing companies is another key factor boosting the United States market.
High Adoption of Advanced Military and Defense Systems Making China a Dominant Markets
As per FMI’s latest analysis, China will remain one of the most dominant markets for military batteries during the assessment period. This is due to increasing adoption of sophisticated military & defense systems that required reliable and high-performance batteries.
China military batteries market is projected to exceed a valuation of USD 0.480 billion by 2033. It is likely to create an absolute $ opportunity of USD 0.175 billion between 2023 and 2033.
For the projection period, military battery demand in China is expected to rise at 4.6% CAGR, in comparison to 5.3% CAGR recorded from 2018 to 2022.
Increasing military expenditure and rising export of advanced military and defense systems will also play a key role in boosting China market during the projection period.
Principal Consultant
| Attribute | Details |
|---|---|
| Top Segment (Platform) | Land |
| Historical CAGR (2018 to 2022) | 5.2% |
| Projected CAGR (2023 to 2033) | 4.5% |
| Top Segment (Capacity) | Below 12V |
| Historical CAGR (2018 to 2022) | 5.1% |
| Projected CAGR (2023 to 2033) | 4.4% |
Land Platform to Generate Significant Revenues in the Market
Based on platform, the global military batteries industry is segmented into land, marine, and aviation. Among these, land segment currently dominates the target market and is expected to create significant revenues during the assessment period.
According to Future Market Insights (FMI), land segment is projected to thrive at 4.5% CAGR between 2023 and 2033, in comparison to 5.2% CAGR registered from 2018 to 2022. This is attributable to rising usage of batteries in land-based military and defense equipment.
Over the years, government spending on land combat systems has increased significantly and the trend is expected to continue through 2033. This in turn is expected to uplift demand for military batteries during the assessment period.
Military batteries are widely used to power a wide range of equipment on land, including unmanned ground vehicles and missile systems. They deliver exceptional reliability & performance for military applications, ranging from infantry communications and weapon systems to military vehicles.
Rise in electrification of on-ground equipment is another key factor propelling demand for military batteries across the globe.
To meet this demand, leading military battery companies are focusing on introducing novel military batteries for land combat systems.
High Adoption of 12V Batteries in Various Military Applications Fueling their Demand
Based on capacity, the global military batteries industry is segmented into below 12V, 12 to 24V, and above 24V. Among these, demand is expected to remain high for below 12V military batteries. This is due to their rising usage in various military applications.
Below 12V military batteries are becoming ideal solutions for several applications due to their various advantages. These batteries are lighter than conventional lead-acid batteries. They are the most low-maintenance and long-lasting batteries available.
As per the latest report, below 12V segment grew at a CAGR of 5.1% between 2018 and 2022. Over the forecast period 2023 to 2033, the target segment is anticipated to expand at a CAGR of 4.4%.
Leading military battery manufacturers listed in the report include BST Systems, Inc., EaglePicher Technologies LLC, Arotech Corporation, EnerSys, Inc., Bren-Tronics, Inc., Denchi Power Ltd., Cell-Con, Inc, Concorde Battery Corporation, Kokam Co., Ltd., Lincad Ltd, and others/
To meet rising demand from the military & defense sector, these key manufacturers of military batteries are launching new products into the market. They are continuously innovating to develop lightweight and high-power density batteries for advanced military systems.
Companies are also showing interest in adopting other strategies such as mergers, facility expansions, agreements, alliances, partnerships, collaborations, and acquisitions to gain a competitive edge in the market.
Recent developments:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 1.4 billion |
| Projected Market Value (2033) | USD 2.2 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.7% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Platform, Capacity, Type, End Use, and Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia; South Asia and Pacific; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Companies Profiled | Arotech Corporation; Bren-Tronics, Inc.; BST Systems, Inc.; Cell-Con, Inc; Concorde Battery Corporation; Denchi Power Ltd.; EaglePicher Technologies LLC; EnerSys, Inc.; Kokam Co., Ltd.; Lincad Ltd |
The military batteries market CAGR for 2033 is 4.7%.
The market is valued at USD 1.4 billion in 2023.
The projected market value of the market for 2033 is USD 2.2 billion.
Key players are developing the market by introducing new technologies and materials.
The key market players are Saft, EnerSys, and Exide Technologies.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Platform 5.1. Land 5.2. Marine 5.3. Aviation 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 6.1. Below 12V 6.2. 12 - 24V 6.3. Above 24V 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 7.1. Rechargeable 7.2. Non-Rechargeable 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 8.1. OEM 8.2. Aftermarket 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Arotech Corporation 19.2. Bren-Tronics, Inc. 19.3. BST Systems, Inc. 19.4. Cell-Con, Inc 19.5. Concorde Battery Corporation 19.6. Denchi Power Ltd. 19.7. EaglePicher Technologies LLC 19.8. EnerSys, Inc. 19.9. Kokam Co., Ltd. 19.10. Lincad Ltd. 20. Assumptions & Acronyms Used 21. Research Methodology
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Military Batteries Market
