The military battery market is projected to grow at a CAGR of 5.57% during the forecast period.
The military battery market is estimated to be USD 2.42 billion in 2018 and is projected to reach USD 3.17 billion by 2023, at a CAGR of 5.57% from 2018 to 2023. Military batteries are used to power various types of electronic equipment used by military forces across different platforms such as aircraft, vehicles, soldiers, operating bases, ships, submarines, and unmanned vehicles. These batteries are also used as an emergency backup in conditions wherein electricity sources may fail. This growth of the military battery market can be attributed to the various army modernization programs and rising demand for unmanned vehicles in militaries across the world.

Based on end user, the OEM segment is estimated to lead the military battery market in 2018.
Based on end user, the OEM segment is estimated to lead the military battery market in 2018. Various army modernization programs to replace technologically obsolete systems are driving the OEM segment.

Based on platform, the land segment is estimated to lead the military battery market in 2018.
Based on platform, the land segment is estimated to lead the military battery market in 2018. This growth can be attributed to the adoption of unmanned vehicles and procurement of ground vehicles.

Based on type, the rechargeable segment is estimated to lead the military battery market in 2018.
Based on type, the rechargeable segment is estimated to lead the military battery market in 2018. Benefits such as reduced logistics cost and reduced burden of carrying extra batteries have led to the growth of this segment.

Based on power density, the less than 100 Wh/Kg segment is estimated to lead the military battery market in 2018.
Based on power density, the less than 100 Wh/Kg segment is estimated to lead the military battery market in 2018. This growth can be attributed to the increasing demand for military vehicles among armies across the world.

Based on energy consumption, the 12-24 V segment is estimated to lead the military battery market in 2018.
Based on energy consumption, the 12-24 V segment is estimated to lead the military battery market in 2018. Benefits such as reduced logistics cost and reduced burden of carrying extra batteries have led to the growth of this segment.

Based on composition, the lithium battery segment is estimated to lead the military battery market in 2018.
Based on composition, the lithium battery segment is estimated to lead the military battery market in 2018. Factors such as high density, power, and recharge cycle as compared to traditional batteries such as lead acid are driving this segment.

North America is estimated to lead the military battery market in 2018.
The North American region is estimated to lead the military battery market in 2018. The US and Canada are the key countries considered for market analysis in this region. Increasing procurement of guided munitions and military aircraft are expected to fuel the growth of the military battery market in North America.

  • By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
  • By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
  • By Region: North America – 40%, Europe – 20%, Asia Pacific – 10%, and RoW – 30%

Key players operating in the Military Battery Market include EnerSys (US), Arotech Corporation (US), EaglePicher Technologies (US), Bren-Tronics, Inc. (US), and Saft Groupe (France).

Research Coverage
The military battery market has been segmented on the basis of offering (product, service), end user (OEM, aftermarket), platform (aviation, land, marine, space, munition), type (rechargeable, non-rechargeable), power density (less than 100 Wh/Kg, 100-200 Wh/Kg, more than 200 Wh/Kg), energy consumption (less than 12 V, 12 -24 V, more than 24 V), application (propulsion systems, auxiliary power units (APU), backup power, ignition systems, communication & navigation systems, fire control systems, electro optics & thermal imaging systems, others), and composition (lithium battery, lead acid battery, nickel battery, thermal battery, others). These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia Pacific, the Middle East, and Rest of the World (RoW). The report provides in-depth market intelligence regarding key market dynamics and major factors (drivers, restraints, opportunities, and industry-specific challenges) that influence the growth of the military battery market, in addition to an analysis of micromarkets with respect to individual growth trends, prospects, and their contribution to the military battery market.

Reasons To Buy the Report:
From an insight perspective, the military battery market report focuses on various levels of analyses ? industry analysis; market share analysis of top players; company profiles that comprise and discuss basic views on the competitive landscape; high-growth regions and countries as well as their respective regulatory policies; and drivers, restraints, opportunities, and challenges.

The military battery market report provides insights on the following pointers:

  • Market Penetration: Comprehensive information regarding the competitive landscape in the military battery market
  • Market Sizing: Market size in the financial year 2016-2017 and projection of the market size from 2018 to 2023
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military battery market
  • Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, and opportunities prevailing in the military battery market
  • Market Development: Comprehensive information about lucrative markets?the report analyzes the market for military batteries across various regions worldwide
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military battery market
  • Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, the Middle East, and Rest of the World
  • Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players