Military Battery Market Growth to Surpass USD 1.6 Billion by 2027

1. Military Battery Market Growth to Surpass USD 1.6 Billion by2027 According to a research report "Military Battery Marketby Type (Rechargeable, Non- rechargeable), Installation (OEM, Aftermarket), Application (Propulsion, Non- propulsion), Platform (Ground, Airborne, Marine), Composition, Voltage, Power DensityandRegion-GlobalForecastto2027"publishedbyMarketsandMarkets,the militarybatterymarketisprojected to grow from USD 1.3 billion in 2022toUSD1.6billionby2027,at aCAGRof4.1%from2022to2027. The advent of rechargeable batteries in terms of compact designs and high-power density, is one of the major driving factors for the demand of military battery market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=135165088 Key MarketPlayers Key players in the military battery market include EnerSys (US), GS Yuasa International Ltd (Japan), Saft (France), Exide Industries (India), and EaglePicher Technologies (US). The players are largely focused on new product development and launches and having a strong global presence will help them gain a competitive advantage in the military batteryindustry. By composition, the lead-acid segment is expected to lead the market during the forecastperiod. Based on composition, the military batteries market has been segregated into lithium-based, lead-acid, nickel-based, thermal, and others. The lithium-based segment has been further segregated into lithium nickel manganese cobalt, lithium iron phosphate, lithium cobalt oxide, lithium titanate oxide, lithium manganese oxide, and lithium nickel cobalt aluminium oxide. Most aerospace and defense equipment use lithium-based batteries. By composition, the lead-acid segment is estimated to account for the largest share (38%) of the military battery market in 2022. This segment is projected to grow from USD 496 million in 2022 to USD 605 million by 2027, at a CAGR of 4.1% during the forecastperiod. Byplatform,thegroundsegmenthasthehighestshareintheforecastedperiod Based on platform, the military battery market has been segmented into ground, marine and airborne. The ground segment is projected to grow at a highest share. This growth can be attributed to the developments taking place in military battery market with respect to partnership, investments, and development of newproducts.

2. Rechargeable battery segment has the highest share in the forecastedperiod Based on type, the military battery market has been segregated into rechargeable and non-rechargeable batteries. The type segment provides information on the rechargeable and non-rechargeable batteries. A rechargeable battery or storage battery can be charged, discharged, and recharged many times. It is composed of one or more electrochemical cells. Rechargeable batteries cost more than primary batteries but have a lower total cost ofownership. Europe has the highest share in the forecastedperiod. TheEuropemilitarybatterymarketisprojectedtogrowatthesecondhighestrateof 4.2% during the forecast period. The growth of this market is driven by the demand foradvanced,energy-efficient,andlightweightbatterieswhichofferenhancedsafety, functionalities, andreliability. News Also Covered: https://www.prnewswire.com/news-releases/military-battery- market-worth-1-6-billion-by-2027--exclusive-report-by-marketsandmarkets- 301551013.html AboutMarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth forclients. TheB2Beconomyiswitnessingtheemergenceof$25trillionofnewrevenuestreams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Contact: Mr. Aashish Mehra MarketsandMarkets™INC. 630 DundeeRoad Suite 430 Northbrook, IL60062 USA:1-888-600-6441