Military Battery Market Emerging Trend and Global Demand by 2023

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• The Military Battery Market is projected to grow
  from 2.42 billion in 2018 to 3.17 billion by
  2023, at a CAGR of 3.25 during the forecast
  period. The growth in the military battery
  market can be attributed to the various army
  modernization programs and rising demand for
  unmanned vehicles by militaries across the
  world.
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• Target Audience for this Report
• Manufacturers of Defense Equipment
• Manufacturers of Military Batteries
• Raw Material Suppliers
• Defense Forces
• The military battery market has been segmented on
  the basis of offering, end user, platform, type,
  power density, energy consumption, application,
  composition, and region. Based on offering, the
  market has been segmented into product and
  service. The product segment is projected to
  lead the market during the forecast period, owing
  to increasing defense procurements mainly in
  countries such as the US, China, and India.
• Based on platform, the military battery market
  has been segmented into aviation, ground,
  marine, space, munition. The land segment is
  projected to grow at the highest CAGR from 2018
  to 2023. Increasing adoption of unmanned vehicles
  and procurement of ground vehicles is expected
  to drive the land segment. Based on power
  density, the market is segmented into less than
  100 Wh/Kg, 100-
• 200 Wh/Kg, and more than 200 Wh/Kg. 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 composition, the market is segmented
  into lithium battery, lead acid battery, nickel
  battery, thermal battery, and others. The lithium
  battery segment is estimated to lead the 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.
• Based on type, the market is segmented into
  rechargeable and non-rechargeable. The
  rechargeable segment is estimated to lead the
  military battery market in 2018. Benefits such
  as reduced logistics cost and reduced of carrying
  extra batteries has led to the growth of this
  segment.

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Based on end user, the market is segmented into
OEM and aftermarket. The OEM segment is
estimated to lead the military battery market in
2018. Defense forces across the world are
increasing procurement of unmanned systems,
aircraft, munitions and ground vehicles
procurements, which has led to the growth of this
segment. Based on energy consumption, the market
is segmented into less than 12 V, 12-24V, and
more than 24V. The 12-24 V segment is estimated
to lead the military battery market in 2018.
Factors such as reduced logistics cost and
reduced burden of carrying extra batteries has
led to the growth of this segment. Key Market
Players EnerSys (US), Arotech Corporation (US),
EaglePicher Technologies (US), and Bren-
Tronics, Inc. (US), are some of the key players
operating in the North America market. These
market players are focused on the adoption of the
new product launch strategy to expand its
product portfolio in the military battery market.
These players have wide regional presence and
have increasing investments in RD
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