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Military Vehicle Electrification Market

Military Vehicle Electrification Market by System (Power Generation, Cooling System, Energy Storage, Traction Drive System and Power Conversion), by Technology (Hybrid and Fully Electric), by Platform, by Operation, and by Regions | Global Market Forecasts 2022-2028

Report Id: SNS/A&D/1236 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Military Vehicle Electrification Market Size was valued at USD 5 billion in 2021 and expected to reach USD 10.40 billion by 2028, and grow at a CAGR of 13.5% over the forecast period 2022-2028.

A tactical vehicle with hybrid-electric capabilities and in-hub electric drive is the military vehicle electrification. The research and development in military vehicle electrification are constantly evolving, and the current scenario of countries cutting their defense budgets may be a hindrance to the growth of this technology. Because of import and export regulations, manufacturing activities have faced operational and running challenges.

Military Vehicle Electrification Market Revenue Graph

MARKET DYNAMICS:

KEY DRIVERS:

  • The demand for electric power sources is increasing.

  • Rising oil prices and stricter emission regulations

  • Increasing demand for self-driving military vehicles

RESTRAINTS:

  • Short range of electric vehicle

  • Limited Advantages

OPPORTUNITIES:

  • Hydrogen fuel cell-powered demand

  • Cost effective

  • Less pollution & clean energy

CHALLENGES:

  • Limited charging capability

  • Even replacing a battery pack is prohibitively expensive.

THE IMPACT OF COVID-19

COVID-19 started in Wuhan in December 2019 and has since spread rapidly around the world. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the countries most affected in terms of confirmed cases and reported deaths. COVID-19 has been affecting the economy and industry in various countries due to land closures, travel restrictions, and business closures. The closure of various plants and factories has affected the global supply chain and has had a devastating effect on the manufacturing, delivery, and marketing of products in global markets.

Few companies have already announced potential product delivery delays and sales declines in the future. In addition, international travel restrictions imposed on European, Asian-Pacific, and North American countries affect business cooperation and relationship opportunities.

MARKET ESTIMATION

Growth in the market for electric vehicle fittings is predicted to promote equitable growth in three phases. The need for the electrical installation of military vehicles in combat and support vehicles is predicted to be relatively relative during the forecast period. The power generation component is expected to grow at the fastest CAGR at the time of forecasting, based on plans. The market for military vehicle electrification is expected to grow due to increased demand for energy systems due to the integration of new technologies and increased energy needs in vehicles.

The proportion of private or private military vehicles is expected to grow at the fastest CAGR at the time of forecasting, based on performance. The proportion of private or private military vehicles is expected to grow at the fastest CAGR at the time of forecasting, based on performance. The need for private vehicles that help reduce human losses and skills development fuels the growing market for private or private military vehicles. The market for North American military vehicles is expected to grow significantly during the forecast period, due to increased investment in international military vehicle technology. European defense services have contributed to the development of technologically advanced military vehicles and the acquisition of new vehicles to increase the size of their ships. Vehicle electrification systems from well-known and well-known manufacturers

COMPETITIVE LANDSCAPE:

The report discusses major developments in the military vehicle electrification market, as well as organic and inorganic growth strategies.  Various business sectors are focusing on natural and chemical-free growth strategies such as product launches, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market.

MARKET KEY PLAYER

BAE Systems plc, Krauss-Maffei Wegmann GmbH, Textron Inc, General Motors Company, Nikola Corporation, Qinetiq Group Plc, General Dynamics Corporation, Arquus, Nexter group, Leonardo S.p.A., and other players.

MARKET SEGMENTATION

by Operation

  • Manned

  • Autonomous

  • Semi-autonomous

by Technology

  • Hybrid

  • Fully Electric

by System

  • Power Generation

  • Cooling System

  • Energy Storage

  • Traction Drive System

  • Power Conversion

by Platform

  • Combat vehicles

  • Support vehicles

  • Unmanned armoured vehicles

Military Vehicle Electrification Market Segment Chart

REGIONAL ANALYSIS

Due to rising expenditures in military vehicle electrification technologies by countries in this region, the North American military vehicle electrification market is expected to grow significantly over the forecast period. European defense ministries are working to develop technologically superior military vehicles while also acquiring new vehicles to add to their inventory. During the forecast period, the Asia Pacific military vehicle electrification market is expected to grow at the fastest rate. The Asia Pacific military vehicle electrification market is expanding as major economies in the region increase their military vehicle procurement spending.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Military Vehicle Electrification Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 5 Billion
Market Size by 2028 US$ 10.40 Billion
CAGR CAGR of 13.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By System (Power Generation, Cooling System, Energy Storage, Traction Drive System and Power Conversion)
• By Technology (Hybrid and Fully Electric)
• By Platform
• By Operation
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles BAE Systems plc, Krauss-Maffei Wegmann GmbH, Textron Inc, General Motors Company, Nikola Corporation, Qinetiq Group Plc, General Dynamics Corporation, Arquus, Nexter group, Leonardo S.p.A., and other players.
DRIVERS • The demand for electric power sources is increasing.
• Rising oil prices and stricter emission regulations
• Increasing demand for self-driving military vehicles
RESTRAINTS • Short range of electric vehicle
• Limited Advantages


Frequently Asked Questions (FAQ) :


Table of Contents:

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Military vehicle electrification market, by Operation

8.1 Manned

8.2 Autonomous

8.3 Semi-autonomous

 

9. Military vehicle electrification market, by Technology

9.1 Hybrid

9.2 Fully Electric

 

10. Military vehicle electrification market, by System

10.1 Power Generation

10.2 Cooling System

10.3 Energy Storage

10.4 Traction Drive System

10.5 Power Conversion

 

11. Military vehicle electrification market, by Platform

11.1 Combat vehicles

11.2 Support vehicles

11.3 Unmanned armoured vehicles

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2    Canada

12.2.3    Mexico

12.3        Europe

12.3.1    Germany

12.3.2    UK

12.3.3    France

12.3.4    Italy

12.3.5    Spain

12.3.6    The Netherlands

12.3.7    Rest of Europe

12.4        Asia-Pacific

12.4.1    Japan

12.4.2    South Korea

12.4.3    China

12.4.4    India

12.4.5    Australia

12.4.6    Rest of Asia-Pacific

12.5        The Middle East & Africa

12.5.1    Israel

12.5.2    UAE

12.5.3    South Africa

12.5.4    Rest

12.6        Latin America

12.6.1    Brazil

12.6.2    Argentina

12.6.3    Rest of Latin America

 

13. Company Profiles

13.1 Arquus

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 BAE Systems plc

13.3 General Dynamics Corporation

13.4 Leonardo S.p.A.

13.5 Textron Inc

13.6 General Motors Company

13.7 Nikola Corporation

13.8 Qinetiq Group Plc

13.9 Nexter group

13.10 Krauss-Maffei Wegmann GmbH

 

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

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Secondary Research

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