LONDON, Nov. 13 (UPI) -- Market analysis firm Frost & Sullivan projects steady growth in the military battery market, with earned revenues reaching $2.6 billion in 2017.
The United States is the largest contributor to market revenues, but the emerging economies in the Asia-Pacific region and the Middle East offer the highest growth potential for battery manufacturers, it said.
"The growing use of sophisticated military equipment in various countries has fueled the demand for lightweight, high energy density batteries," said Frost & Sullivan Energy & Environmental Industry Manager Suba Arunkumar. "Having proven reliable for years, these batteries are here to stay and will be popular in unmanned aerial vehicles, unmanned grounded vehicles, man-portable devices, and submarines."
Research for the company report -- Global Military Battery Market -- covers lithium, lithium-ion, nickel and lead-acid batteries.
It found that lead-acid batteries remain the most widely used by the military, followed by lithium-ion and lithium.
The military battery market had earned revenues of more than $1.99 billion in 2012.
