The global military battery market is expected to grow over four percent from 2018 to 2022, according to a market research report executed by Technavio. A factor driving this grown is the recent decline in Lithium-ion battery prices.
Additionally, the report also provided a brief overview of trends expected to impact the market during this period. One of these trends is the immersion of wearable devices for military operations.
Wearable devices in military operations
Military operations often require constant communication, and generally, military personnel carries a battery-powered device to update other individuals on their whereabouts or mission progression. Batteries power these devices, and an individual often carries these batteries in bulk during their missions, adding to the overall weight they carry each day. In turn, wearable devices could help minimize bulky devices and heavy batteries that military operations require.
“Technological improvements include the incorporation of communication devices into the body armor worn by the personnel. Companies are currently providing military-grade batteries to power these wearables. Hence, OEMs are designing equipment providing hands-free communication systems instead of hand-held devices. Such advances in military equipment will drive the growth of the military battery market during the forecast period,” says a senior analyst at Technavio for research on energy storage.
Technavio’s research has segmented the global military battery market by technology, consisting of rechargeable and non-rechargeable, and geographic locations. In 2017, the rechargeable segment had the largest market share, consisting of approximately 77 percent of the market. This segment is still expected to dominate during the forecasted period.
Overall, the global military battery market size is expected to grow over 473 million USD from 2018-2022.
Credit: Technavio
Filed Under: Aerospace + defense