The Defense Battery Market is likely to grow at a significant CAGR of 3.8% during 2023-2028, to reach US$ 2.8 Billion in 2028, states Stratview Research.
DETROIT, Nov. 14, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the defense battery market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
Report Highlights
Market Size in 2028 |
US$ 2.8 Billion in 2028 |
Growth (CAGR) |
3.8% during 2023-2028 |
Forecast Period |
2023-2028 |
Trend Period |
2016-2021 |
Base Year |
2022 |
Number of Segments Covered |
3 |
Number of Tables & Graphs |
70+ |
Country-Level Market Assessment |
20 |
Segment Insights on the Defense Battery Market
The defense battery market is segmented based on application type, battery type, and region.
Based on application type- The market is segmented into base camps, weapon systems, armored vehicles/military vehicles, submarines, night vision systems, and others. The Night vision system is expected to remain the dominant as well as the fastest-growing application type in the market during the forecast period. Night vision devices have been very significant in the field of defense, assisting soldiers during low light or dark conditions.
The rising adoption of night vision systems in defense applications is fueling the growth of the segment. In addition to that, the rise in terrorist activities, rising military expenditure & modernization, increased requirement of advanced and enhanced night vision systems, and technological advancements such as thermal imaging and digital signal processing, are further expected to drive the growth of the market during the forecast period.
Based on battery type- The defense battery market is segmented into lead-acid batteries, lithium-ion batteries, nickel-cadmium batteries, and others. Lithium-ion is expected to remain the largest and the fastest-growing battery type in the market during the forecast period, owing to the increasing demand for lithium-ion batteries from power-demanding military devices and the capability of lithium-ion batteries to withstand severe military conditions.
Further, Lithium-ion batteries offer several advantages such as high energy density, which means they can store a lot of energy in a small space, have a longer battery life than other types of batteries such as nickel-cadmium batteries, can be recharged quickly, which is important for military operations where time is critical. The new generation of lightweight lithium-ion batteries is more powerful than traditional lead-acid batteries, offering unparalleled advantages to today's armed forces.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for defense batteries during the forecast period. This growth is majorly attributed to the following –
Asia-Pacific is projected to be the fastest-growing region during the forecast period due to the modernization of armed forces and increase in defense spending, especially in emerging economies, such as China and India. Europe is also likely to create sizeable opportunities in the coming five years.
Defense Battery Market Drivers
Some of the key drivers listed in the report are given below.
Top 10 Companies in the Defense Battery Market?
The market is highly populated with the presence of several regional and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the defense battery market:
What Deliverables Will You Get in this Report?
Key questions this report answers |
Relevant contents in the report |
How big is the sales opportunity? |
In-depth Analysis of the Defense Battery Market |
How lucrative is the future? |
Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? |
Market segment analysis and forecast |
Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
How complex is the business environment? |
Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? |
Drivers & challenges |
Will I get the information on my specific requirements? |
10% free customization |
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About us –
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.
Stratview Research has been helping companies to meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
SOURCE Stratview Research