Global Nuclear Battery Market Size will Reach $489.56 Million in 2023

Global Nuclear Battery Market Overview

According to Global Market Monitor, the globalnuclear battery market size will reach $489.56 million in 2023 with a CAGR of7.73% from 2023 to 2028. The largest segment by application was the military, with a market share of 66.16% in 2022.

A nuclearbattery is also called a radioisotope battery, which is a type of battery that uses radioactive materials as the energy source. Radioactive materials emit beta particles or gamma rays, which can be converted into electrical energy. Nuclearbatteries are used in devices such aspacemakersand satellites.

Nuclear batteries do not produce radioactive waste, so the use of nuclear batteries can reduce the greenhouse effect and produce high energy, which is expected to be a key driver for the growth of the global nuclear battery market. The initial production cost and social acceptance are the major constraints hindering the growth of the nuclear battery market. In addition, strict regulations on the use of radioactive substances in some regions are expected to limit the upsurge of the market. Factors such as increasing demand for reliable power supply and long-life batteries in the automotive industry are expected to be opportunities for the growth of the global nuclear battery market.

The Nuclear Battery Market Enterprises Status

Nuclear Battery companies are mainly from the USA and the industry concentration rate is high. The top three companies are Aerojet Rocketdyne, Teledynees, and China National Nuclear Corporation.Aerojet Rocketdyne is one of the major players operating in the nuclear battery market, holding a share of 12.96% in 2022. Aerojet Rocketdyne, Inc. provides aerospace propulsion systems, precision tactical weapon systems, and armament systems, including warhead and munitions applications.

Many of the radioisotope batteries are still under research and improvement. At present, various advanced countries in the world are committed to the research of radioisotope batteries. The research direction is mainly to improve the conversion efficiency of radioisotope batteries and to miniaturization of radioisotope batteries. With the solution of nuclear battery safety, conversion efficiency, and cost and the continuous maturity of technology, the application field will also be broader.

Company Name	Aerojet Rocketdyne
Website	www.rocket.com
Established Time	1942
Plant Locations	USA
Market Distribution	Worldwide
Product Application	MMRTGs produce stabilizing heat and electrical power for vehicles and instruments operating too far from the sun for solar arrays to be effective. The heat is used to provide thermal stability for the rover’s onboard electronics and mechanical systems, allowing for both day and night operations. MMRTG was designed and developed by Aerojet Rocketdyne with Teledyne Energy Systems, under contract/in partnership with the U.S. Department of Energy.