The global submarine battery market is anticipated to grow at a moderate CAGR of 4.6% during the forecast period (2024-2031). The escalating demand for submarines, driven by naval defense and security requirements, is a primary contributor to the global market growth. The ongoing advancements in battery technology, leading to improved performance and safety features, are encouraging the adoption of modern submarine battery systems. Additionally, the shift towards electric propulsion systems in submarines, along with rising investments in defense infrastructure worldwide, is further propelling market expansion. Furthermore, the increasing focus on renewable energy integration and the geopolitical landscape's emphasis on underwater operations are driving demand.
Browse the full report description of “Submarine Battery Market Size, Share & Trends Analysis Report by Type (Lead-acid batteries, lithium-ion batteries, and others) and by Application (Civil and Military), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/submarine-battery-market
In May 2023, At UDT 2023, TKMS showcased advancements in submarine battery technology. Their fuel cell solution, a quiet and efficient propulsion system, now boasts onboard stack replacement, enhancing operational readiness. Partnering with Saft, TKMS also develops lithium-ion batteries, offering greater power output, faster charging, and improved safety. Additionally, they explore future technologies like solid-state batteries for even more enhanced operational flexibility.
Moreover, in September 2022, the Naval Science and Technological Laboratory (NSTL) is leading the development of lithium-ion battery technology for submarines, aligning with India's Atma Nirbhar Bharat Yojana to foster indigenous innovation. Director Y Srinivasa Rao highlights the importance of this initiative in reducing reliance on imports and advancing defense capabilities. Additionally, NSTL explores sodium ion batteries for cost-effective alternatives, contributing to India's self-sufficiency in energy storage solutions.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes EnerSys, EXIDE INDUSTRIES LTD., GS Yuasa International Ltd, HBL Power Systems Ltd., and Toshiba Infrastructure Systems & Solutions Corp. among others.
Key questions addressed by the report.
Global Submarine Battery Market Report Segment
By Type
By Application
Global Submarine Battery Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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