Global Submarine Battery market is expected to exhibit CAGR of 5.5% in the forecast period, according to a new market research report Global Submarine Battery Market Report, By Battery Type (Lithium Ion Battery, Lead Acid Battery, and Others), By Application (Military and Civilian) and by Geography.
Military segment held the dominant position in the submarine battery market in 2017 and is expected to retain its dominance throughout the forecast period. This is owing to increasing government investment for the production of advance submarines. For instance, in May 2018, the U.K. government announced that the Ministry of Defense is investing US$ 3.32 billion (£2.5 billion) in boosting submarine building projects. In addition to this, increasing trend for using unmanned underwater vehicles is also one of the major driving factors for growth of the submarine battery market. Rising usage of unmanned underwater vehicles in various applications such as commercial use, research, intelligence, surveillance, and reconnaissance, mine countermeasures, anti-submarine warfare, inspection, and identification have accelerated growth of the market of unmanned underwater vehicles, which is in turn expected to fuel growth of the market of submarine batteries, globally.
To know the latest trends and insights prevalent in this market, click the link below:
Key Takeaways of the Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Email: [email protected]
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.