The Worldwide Military Vehicle Electrification Industry is Expected to Reach a Value of $17.6 Billion by 2030

News provided by

Jul 22, 2021, 15:00 ET

DUBLIN, July 22, 2021 /PRNewswire/ -- The "Military Vehicle Electrification Market by Technology (Hybrid and Fully Electric), by System (Power Generation, Cooling System, Energy Storage, Traction Drive System and Power Conversion) by Platform, by Operation and by Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The Military vehicle electrification market is projected to grow from an estimated USD 4.8 billion in 2020 to USD 8.6 billion by 2025, at a CAGR of 13.0% and to USD 17.6 billion by 2030 at a CAGR of 15.6%.

The major growth drivers for this market include rising global concerns, increasing technologies supporting the vehicle dynamics to integrate the electrification in military vehicles and focus on increasing the fleet size.

The unmanned armoured vehicle segment of the market is projected to grow at the highest CAGR from 2021 to 2025.

The growth in the Military Vehicle Electrification market is expected to drive the growth of the three platforms proportionately. The requirement of military vehicle electrification in combat and support vehicles are expected to be in a similar range during the forecast period.

Based on operations, the autonomous/semi-autonomous military vehicle segment is projected to grow at the highest CAGR during the forecast period.

Based on operations, the autonomous/semi-autonomous military vehicle segment is projected to grow at the highest CAGR during the forecast period. The requirement of autonomous vehicles that help in reducing human loss and increasing capabilities are helping the growth of the market for Autonomous/semiautonomous military vehicles.

Based on systems, the power generation segment is projected to grow at the highest CAGR during the forecast period.

Growing demand for power systems due to the integration of new technologies and increasing power requirements in the vehicles are projected to increase the growth of the military vehicle electrification market.

The Europe region is estimated to account for the largest share of the Military vehicle electrification market in 2021

The Military vehicle electrification market in the North American region is expected to witness substantial growth during the forecast period, owing to increased investments in Military vehicle electrification technologies by countries in this region. Ministry of defence in the European countries are involved in the development of technologically advanced military vehicles and the procurement of new to increase their fleet size. Well-established and prominent manufacturers of Military vehicle electrification systems in this region include Bae systems (Uk), Leonardo Spa (Italy), Qinetiq(Uk) and Arquus (France).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Military Vehicle Electrification Market, 2020-2025
4.2 Military Vehicle Electrification Market, by Platform
4.3 Military Vehicle Electrification Market, by Combat Vehicles Platform
4.4 Military Vehicle Electrification Market, by Support Vehicles Platform
4.5 Military Vehicle Electrification Market, by System
4.6 Military Vehicle Electrification Market, by Country

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Rising Requirement for Electric Power Sources
5.1.1.2 Increasing Oil Prices and Emission Regulations
5.1.1.3 Increasing Demand for Lithium-Ion Batteries for Military Vehicles
5.1.1.4 Rising Demand for Autonomous Military Vehicles
5.1.1.5 Increasing Budget Allocations for Hybrid Electric Vehicles
5.1.1.6 Evolution of Advanced Hybrid Propulsion Systems
5.1.2 Restraints
5.1.2.1 Enhancements in Power-To-Weight Ratio
5.1.2.2 Limited Range of Military Electric Vehicles
5.1.2.3 High Cost of Fuel Cell Electric Vehicles
5.1.3 Opportunities
5.1.3.1 Demand for Power Resources
5.1.3.2 Development of Hydrogen Fuel Cell-Powered Military Vehicles
5.1.3.3 Development of Advanced Power Electronic Components
5.1.4 Challenges
5.1.4.1 Life and Durability of Integrated Systems
5.1.4.2 Range and Charging Limits
5.2 Impact of COVID-19 on the Military Vehicle Electrification Market
5.2.1 Demand-Side Impacts
5.2.1.1 Key Developments from January 2020 to March 2021
5.2.2 Supply-Side Impact
5.2.2.1 Key Developments from January 2020 to March 2021
5.3 Ranges and Scenarios
5.4 Trends/Business Impacting Customer Business
5.5 Trends in Average Selling Prices
5.6 Military Vehicle Electrification Market Ecosystem
5.7 Value Chain Analysis
5.8 Porter's Five Forces Analysis
5.9 Tariff and Regulatory Landscape
5.10 Trade Analysis

6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Battery Sources and Types
6.2.1.1 Lithium-Ion Batteries
6.2.1.2 Lead Acid Batteries
6.2.1.3 Nickel-Metal Hydride Batteries
6.2.1.4 Solid-State Batteries
6.2.2 Hydrogen Fuel Cells
6.2.3 Potential of Hybrid Technology
6.2.4 Advanced Integrated Communication and Network Systems
6.2.5 Energy Sourcing and Power Management Systems
6.2.6 Adoption of Smart Sensors for Military Applications
6.3 Technological Analysis
6.3.1 Additive Manufacturing - High Power Density Machine
6.3.2 Integration of Advanced Weapon Systems
6.4 Use Case Analysis: Military Vehicle Electrification Market
6.4.1 Paris Agreement Under the United Nations Framework Convention on Climate Change
6.4.2 Hydrogen: a Future Fuel
6.4.3 Unmanned Systems: a Step Towards Electrification
6.4.4 Hybrid Diesel-Electric Systems
6.5 Impact of Megatrends
6.5.1 Autonomous Vehicles in the Military Sector
6.5.2 Policies Supporting the Battery and Hydrogen Technologies
6.6 Innovations and Patent Registrations

7 Military Vehicle Electrification Market, by Platform
7.1 Introduction
7.2 Combat Vehicles
7.2.1 Main Battle Tanks
7.2.1.1 Increasing Demand for Mbts in Cross-Country Operations
7.2.2 Infantry Fighting Vehicles
7.2.2.1 Procurement of IFVs by Emerging Countries Leading to Increasing Demand
7.2.3 Weapon Systems Armored Personnel Carriers (Apc)
7.2.3.1 Increasing Demand for Weapon Systems Armored Personnel Carriers Due to Terrorist Attacks and Asymmetric Warfare Operations
7.2.4 Amphibious Vehicles (Aav)
7.2.4.1 Increasing Demand for Troop Carriers on Battlefields from Sea to Land
7.2.5 Mine-Resistant Ambush Protected (MRAP)
7.2.5.1 Use of Mraps for the Protection of Troops from IEDs and Mines
7.2.6 Light Armored Vehicles (Lavs)
7.2.6.1 Increasing Use of Lavs for Border Patrolling and Surveillance Activities
7.2.7 Self-Propelled Howitzers (Sphs)
7.2.7.1 Increasing Demand for Self-Propelled Howitzers (Sphs) on Battlefields
7.2.8 Mortar Carriers
7.2.8.1 Demand for Military Vehicles with Mortars and Having Dedicated Compartments for Mortar Storage
7.2.9 Air Defense Vehicles
7.2.9.1 Adoption of Vehicle Mounted Anti-Aircraft Guns for Air Defense Roles
7.3 Support Vehicles
7.3.1 Supply Trucks
7.3.1.1 Fuel Trucks
7.3.1.1.1 Increasing Use of Fuel Trucks for Supplying and Transporting Gas, Diesel, or Jet Fuels to Forward Arming and Refueling Points
7.3.1.2 Ambulances
7.3.1.3 Ammunition Replenishment Vehicles
7.3.2 Command and Control Vehicles
7.3.3 Repair and Recovery Vehicles
7.3.4 Others
7.4 Unmanned Armored Vehicles
7.4.1 Increasing Activities in Research & Development for Applications of Unmanned Armored Vehicles on Battlefields

8 Military Vehicle Electrification Market, by Operation
8.1 Introduction
8.2 Manned Vehicles
8.2.1 Investments by the US, UK, China, and Countries in the Middle East Drive the Market
8.3 Autonomous/Semi-Autonomous Vehicles
8.3.1 Development of Ugvs for Combat Support Expected to Drive Market

9 Military Vehicle Electrification Market, by System
9.1 Introduction
9.2 Power Generation
9.2.1 Increasing Demand in the Military Vehicles for Power Generating Sources
9.2.2 Engine/Generator
9.2.2.1 Hybrid Engine/Generator
9.2.2.1.1 Demand for Robust and Durable Power Generation Sources for Military Vehicles
9.2.2.2 Turbine Engines/Generators
9.2.2.2.1 Modernization and Procurement of Military Vehicles is Increasing the Demand for Turbine Engines/Generators
9.2.3 Generator Controller
9.2.4 Air Induction System
9.2.5 Traction Motors/Propulsion Motors
9.3 Cooling Systems
9.3.1 Need of Cooling Systems Towards the Maintenance of Engine Operation
9.3.2 Heat Exchangers
9.3.3 Fans
9.4 Energy Storage
9.4.1 Requirement of Battery Systems for Uninterrupted Power Supply the Vehicle
9.4.2 Batteries
9.4.2.1 Increasing Demand of Lithium-Ion Batteries for Integrating as the Power Source for Military Vehicles
9.4.2.2 Lead Acid
9.4.2.3 Nickel Metal Hydride
9.4.2.4 Lithium-Ion
9.4.2.5 Solid-State Batteries
9.4.3 Fuel Cells
9.5 Traction Drive Systems
9.5.1 Requirement of Traction Drive Systems to Increase the Propulsion of the Vehicle
9.5.2 Ex Drive
9.5.3 Traction Controller
9.5.4 Final Drive
9.6 Power Conversion
9.6.1 Increasing Demand for Power Conversion Solutions for the Onboard Vehicle Management Systems
9.6.2 Dc-Dc Convertor
9.6.3 Power Inverter
9.6.4 Onboard Charger (Alternator)

10 Military Vehicle Electrification Market, by Technology
10.1 Introduction
10.2 Hybrid Electric Vehicles
10.2.1 Need for Hybrid Electric Vehicles in Increasing the Efficiency is Expected to Drive Market
10.3 Fully Electric Vehicles
10.3.1 Adoption of Fully Electric Vehicle for Non-Combat Utility Purpose is Driving the Growth of the Market

11 Military Vehicle Electrification Market, Regional Analysis

12 Competitive Landscape

13 Company Profiles
13.1 Key Players
13.1.1 BAE Systems
13.1.2 General Dynamics
13.1.3 Leonardo Spa
13.1.4 Textron Inc.
13.1.5 General Motors
13.1.6 Oshkosh Corporation
13.1.7 Nikola Motor Company
13.1.8 Otokar Otomotive VE Savunma Sanayi
13.1.9 Qinetiq Group plc
13.1.10 Krauss-Maffei Wegmann
13.1.11 Flensberg Fahrzeugbau Gesellschaft Gmbh
13.1.12 ArquUS
13.1.13 Epsilor Electric Fuel Ltd
13.1.14 Nexter Group
13.1.15 UKroboronprom
13.1.16 Polaris Industries Inc
13.1.17 St Engineering
13.1.18 Ballard Power Systems
13.1.19 Aselsan A.S.
13.1.20 Tesla Inc.
13.2 Other Key Players
13.2.1 Milrem Robotics
13.2.2 AM General
13.2.3 Highland Systems
13.2.4 Alke
13.2.5 Mega Engineering Vehicles Inc.

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/7s87z2

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets