Military Vehicle Electrification Market by Technology, System, Platform, Operation, and Region – Global Forecast to 2030 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD) – The “Military vehicle electrification market by technology (hybrid and fully electric), by system (energy production, 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 offer.

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

Key growth drivers for this market include growing global concerns, increasing technologies supporting vehicle dynamics to integrate electrification into military vehicles and focus on increasing fleet size.

The Unmanned Armored Vehicle segment of the market is expected to grow at the highest CAGR from 2021 to 2025.

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

On the basis of operations, the autonomous / semi-autonomous military vehicle segment is expected to grow at the highest CAGR during the forecast period.

On the basis of operations, the autonomous / semi-autonomous military vehicle segment is expected to grow at the highest CAGR during the forecast period. The requirement for autonomous vehicles which help reduce loss of life and increase capability is contributing to the growth of the autonomous / semi-autonomous military vehicles market.

On a systems basis, the power generation segment is expected to grow at the highest CAGR during the forecast period.

The growing demand for power systems due to the integration of new technologies and increasing energy requirements in vehicles is expected to increase the growth of the military vehicle electrification market.

Europe region expected to account for largest military vehicle electrification market share in 2021

The military vehicle electrification market in the North American region is expected to experience substantial growth during the forecast period, owing to increased investment in military vehicle electrification technologies by countries of this region. region. Ministry of Defense in European countries are involved in the development of technologically advanced military vehicles and the purchase of new ones to increase the size of their fleet. 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).

Market dynamics

Conductors

  • Growing need for electrical energy sources

  • Rising Oil Prices and Emissions Regulations

  • Growing demand for lithium-ion batteries for military vehicles

  • Growing demand for autonomous military vehicles

  • Increased budget allocations for hybrid electric vehicles

  • Evolution of advanced hybrid propulsion systems

Constraints

  • Power-to-weight ratio improvements

  • Limited range of military electric vehicles

  • High cost of fuel cell electric vehicles

Opportunities

  • Demand for energy resources

  • Development of hydrogen fuel cell military vehicles

  • Development of advanced power electronics

Challenges

  • Service life and durability of integrated systems

  • Scope and load limits

Companies mentioned

  • Alke

  • AM General

  • Arquus

  • Aselsan AS

  • BAE systems

  • Ballard Power Systems

  • Epsilor Electric Fuel Ltd

  • Flensburger Fahrzeugbau Gesellschaft GmbH

  • General dynamics

  • General Motors

  • Highland Systems

  • Krauss-Maffei Wegmann

  • Leonardo Spa

  • Mega Engineering Vehicles Inc.

  • Milrem Robotics

  • Nexter Group

  • Nikola Motor Company

  • Oshkosh Corporation

  • Otokar Otomotive VE Savunma Sanayi

  • Polaris Industries Inc

  • Qinetiq plc Group

  • St Engineering

  • Tesla Inc.

  • Textron inc.

  • United Kingdom

For more information on this report, visit https://www.researchandmarkets.com/r/66vu2v

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About Shirley L. Kreger

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