Military Battery Market Size By Type, By End-User, By Geographic Scope And Forecast
Military Battery Market Size And Forecast
Military Battery Market was valued at USD 2.43 Billion in 2018 and is projected to reach USD 3.92 Billion by 2026, growing at a CAGR of 6.2% from 2019 to 2026.
Global Military Battery Market Overview
The requirement of modern warfare systems based on advanced technologies, increasing demand for drones for surveillance purposes, the decline in the price of lithium-ion batteries are some of the market trends that will support the market growth over the forecast period. The increasing preference for rechargeable batteries, strict military rules & regulation for manufacturers of military batteries is some of the market trends that are expected to boost the growth of the market. Furthermore, an increase in the defense budgets of various countries owing to the rising instances of transnational disputes fuels the market growth in upcoming years. Also, in recent years there is high demand for UAVs equipped that are coupled with long endurance and high-power military batteries. Increasing developments different chemical compositions in order to improve power density has helped in market growth. Factors such as adoption of battery as energy storage devices and augmenting demand for solid-state batteries contributes for market. These factors are expected to drive market for Military Battery over the forecasted period.
Global Military Battery Market: Segmentation Analysis
Global Military Battery Market is segmented based on Type, End-User, And Geography.
Military Battery Market Competitive Landscape
The Global Military Battery Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as
- Arotech Corporation
- BST Systems, Inc.
- Denchi Power
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