Defense Battery Market Analysis | 2023-2028

Market Insights

The defense battery market is likely to grow at a CAGR of 3.8% during 2023-2028 to reach USD 2.8 billion in 2028.

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Market Dynamics

Introduction

A battery is an electrochemical device with one or more electrochemical cells whose chemical reactions create a flow of electrons in a circuit. It provides electrical energy to various devices and equipment and is used by members of the Armed Forces worldwide in various ways every day. Defense batteries power various electrical equipment, communication devices, base camps, weapon systems, military vehicles, and submarines.

Market Drivers

Major factors, such as a rise in military expenditure, increasing demand for portable equipment and mobile devices on the battlefield, and growing demand for rechargeable lithium-ion batteries, are likely to be the major demand generators for batteries in defense during the forecast period. In addition, the increasing adoption of UAVs and advanced vehicles is further expected to fuel the growth of the defense battery market.

Key Players

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:

• Bae Systems PLC
• C&D Technologies Inc.
• Contemporary Amperex Technology Co., Limited (CATL).
• EnerSys
• Exide Technologies
• EaglePicher Technologies
• East Penn Manufacturing Co.
• GS Yuasa International Ltd
• Saft Group S.A
• Toshiba Corporation

Segment Analysis

By Application Type

"Night vision system is expected to remain the dominant in the market during the forecast period"

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. 

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By Battery Type

"Lithium-ion is expected to remain the largest market during the forecast period"

The defense battery market is segmented into lead-acid, lithium-ion, nickel-cadmium, 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.

Regional Analysis

"North America is expected to remain the largest market during the forecast period"

North America is expected to remain the largest market for defense batteries during the forecast period. The region has the largest defense market in the world, the USA alone contributed more than 38% of the global military expenditure in the year 2021. In addition to that, the presence of the world's leading defense battery manufacturers, technological advancements, geopolitical threats, and military modernization are further expected to fuel the demand for defense batteries in the region. 

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.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s defense battery market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The defense battery market is segmented into the following categories:

By Application Type 

• Base Camps
• Weapon Systems
• Armored Vehicles/Military Vehicles
• Submarines
• Night Vision Systems
• Others

By Battery Type 

• Lead Acid
• Lithium-ion
• Nickel Cadmium
• Others 

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com