Asia-Pacific military battery market

Asia-Pacific military battery market Size Expanding to Cross USD 447 Million by 2028

Published | 16 November 2022

Asia-Pacific (APAC) military battery market is flourishing owing to a rise in military spending on new platforms, advances in material science and battery technologies, and innovations in smart battery technology.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the size of Asia-Pacific military battery market to grow at a steady CAGR of 6.8% during the forecast period between 2022 and 2028. BlueWeave forecasts Asia-Pacific military battery market size to reach a value of USD 447.2 million by 2028. Major factors influencing the expected growth of the APAC military battery market include the demand for contemporary combat systems built on cutting-edge technologies, an increase in the demand for surveillance drones, and a greater reliance on mobile technologies and remotely operated unmanned machinery. As a result of an increase in military spending by countries across the region brought on by an increase in the number of international conflicts, the APAC military battery market is expected to grow in the coming years.

Asia-Pacific Military Battery Market – Overview

Changes in fighting strategies and a growing reliance on mobile technologies on the battlefield have increased the demand for efficient portable equipment. As solar energy has limitations as a fuel source, there has been an increase in demand for devices that can store energy and use it to power electronics as needed. The military battery market is expanding due to the increasing demand for efficient and low-maintenance power storage technologies in the APAC military sector. Adoption of these systems is being driven by rising military modernization programs in the major countries in APAC, as well as rising demand for unmanned vehicles in the defense sector. Growing government investments in the development of the defense sector in various countries are expected to provide ample opportunities for players in APAC military battery market.

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Asia-Pacific Military Battery Market – Technology Advancements

As the increased reliance on remotely operated robotic machinery to replace human life on the battlefield, there is a greater demand for power storage devices to overcome its limitations. Military batteries are in high demand as the popularity of remotely controlled and fully automated UAVs and robots grow. Military operations are frequently conducted in remote, inhospitable locations, and they need power for a variety of purposes. Extreme weather resistance is a requirement for these military batteries. Various electronic devices used by military forces, ships, and submarines are powered by military batteries. The batteries function as a useful backup in emergencies where there is a chance that the electricity will go out. The incorporation of various cutting-edge electronic devices, such as wearable devices for night vision applications, has gained popularity in the defense industry. Batteries are required to power these devices, which raises the demand for military batteries.

Asia-Pacific Military Battery Market – Segmental Information

Asia-Pacific military battery market has segments, such as Rechargeable and Non-Rechargeable based on type; Lead Acid Battery, Lithium Battery, Nickel Battery, and Others based on composition; and Aviation, Land, Marine, Space, and Munition segments based on platform. The land segment is projected to dominate the Asia-Pacific military battery market by platform, accounting for most of the market share.

Impact of COVID-19 on Asia-Pacific Military Battery Market

The COVID-19 pandemic adversely affected the battery industry globally because of the negative effects of the COVID-19 lockdown on battery supply chains. To establish a dominant position in the market, some manufacturers are constantly pursuing new strategies, such as joint ventures and collaborations. For instance, Indian Oil Corporation and Phinergy forged a strategic alliance to apply cutting-edge technologies to the design, manufacture, assembly, and sale of AI-air batteries. After the COVID-19 shutdown, Phinergy kept working on aluminum-air battery development to expand its product lineup for the market in India. In a crisis, it is expected that this component would hasten the market expansion.

Competitive Landscape

Prominent players in Asia-Pacific military battery market include GS Yuasa International Ltd., Exide Industries, Airborne, Marine, BYD Auto Co., Panasonic, and Lishen. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Asia-Pacific military battery market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Military Battery Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Military Battery Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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