Submarine Battery Market Research Report, Growth Forecast 2026

Market Overview

A submarine is a watercraft, which is used for various commercial and military applications. In submarines, a battery plays a major role in smooth running of the submarine. For power supply, the submarines are equipped with diesel engine that burns fuel or nuclear reactors that use nuclear fusion, which helps to charge the batteries of submarines. Global submarine battery market generated revenue of US$ 866.8 million in 2017 and is expected to reach US$ 1,307 million by 2025 with a CAGR of 5.5% in the forecast period. Rising demand for unmanned underwater vehicles is one of the major driving factors for the market growth. Rising application of submarines such as commercial use, research, air crash investigation, naval use (intelligence, surveillance, and reconnaissance, mine countermeasures, anti-submarine warfare, inspection/identification etc.) have accelerated growth of the submarine battery market, globally. Moreover, increasing investment for production of submarines is also supporting growth of the market of submarines battery globally. For instance, in April 2018, Australian steel making companies.

This report provides in-depth analysis of submarine battery market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017 as the base year.

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Market Dynamics

The adoption of lithium ion batteries with integration of submarine diesel engines is one of the key factors for growth of the submarine batteries market. This is due to various advantages such as lighter weight as compared to lead acid battery, output even at low charging, quick charging feature, and longer lifespan. This has led to high demand for lithium ion batteries for submarines. In addition to this, rising government investment for the production of submarines is also a key driving factor for growth of the global submarine market. For instance, in 2016, the U.K. government announced investment of US$ 1.72 billion (£1.3 billion) to BAE Systems for the development of new nuclear submarines. Similarly, in 2017, the government of India announced start of a process of submarine program with an investment of US$ 8.73 billion (INR 60,000 Crore). These factors are expected to aid in growth of the market over the forecast period.

Detailed Segmentation:

• Global Submarine Battery Market, By Battery Type:

  • Lithium-ion Battery

    Lead Acid Battery

    Others

• Global Submarine Battery Market, By Application:

  • Military

    Civilian

• Global Submarine Battery Market, By Geography:

  • North America

    • By Battery Type:

      • Lithium-ion Battery

        Lead Acid Battery

        Others

    • By Application:

      • Military

        Civilian

    • By Country:

      • U.S.

        Canada

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Major players operating in the global submarine battery market include EnerSys, EverExceed Corporation, Exide Industries, Exide Technologies, GS Yuasa Corporation, HBL Power Systems Limited, Korea Special Battery Co., Ltd., Sunlight Systems S.A, and Zibo Torch Energy Co., Ltd.

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