Europe Military Vehicles Battery Market revenue is projected to grow at a CAGR of 12.0% during 2024-2030F

lithium-ion batteries by battery technologies attained the highest revenue share in Europe Military Vehicles Battery Market – 6Wresearch

Lithium-ion batteries secured the largest revenue share in 2023, owing to the growing demand for high-performance energy storage solutions required for electric and hybrid military vehicles. Additionally, ongoing projects like ELUVAT and LITBAT I under European Defence Agency (EDA) which validate the reliability of lithium-ion batteries in military applications, further contribute towards market growth.

According to 6Wresearch, Europe Military Vehicles Battery Market revenue is projected to grow at a CAGR of 12.0% during 2024-2030F. Europe is becoming a crucial market in the UAV sector due to geopolitical tensions, shifting procurement strategies, and recent conflicts like the Russia-Ukrainian war. With a forecasted UAV expenditure of $51.1 billion, Europe holds a substantial 39.9% of global unawarded programs. The focus is on advancements in UAV technology, particularly in autonomy, which allows UAVs to operate independently and enables a single operator to control multiple drones through features like 'leader-follower' protocols and advanced abort and return-to-base functions.

This growing adoption of UAVs, UGVs, and UUVs is expected to significantly boost the Europe Military Vehicles Battery Market. As Europe invests in advanced UAV platforms and related technologies, the demand for high-performance batteries would increase to meet the energy needs of these sophisticated systems. The anticipated $1.485 billion in unawarded drone contracts in 2024, and the major European projects like the Next-Generation Weapon System (NGWS) and the UK's Loyal Wingman program, would drive innovation and expansion in battery solutions. These developments would support the market's growth by creating a need for more reliable, efficient, and advanced batteries tailored to the evolving requirements of military vehicles and unmanned systems.

According to Vasudha, Senior Research Analyst, 6Wresearch, wheeled military vehicles are projected to dominate the European defense market by 2030, driven by large-scale investments and procurement programs across key countries. For instance, France, through its SCORPION program, plans to acquire 300 Jaguar armoured reconnaissance vehicles and 1,872 Griffon multi-role armoured vehicles, with 50% of these deliveries expected by 2025, as outlined in the LPM 2019–2025 contributing towards market share.

Europe Military Vehicles Battery Market (2024-2030) report provides an in-depth analysis with 13 figures and 3 tables, covered in 73 pages. The report comprehensively covers the market by battery technologies, applications and countries. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.