The Military Vehicle Electrification Market Size was valued at USD 5.67 billion in 2022 and is expected to reach USD 15.62 billion by 2030 and grow at a CAGR of 13.5% over the forecast period 2023-2030.
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.
.png)
To get more information on Military Vehicle Electrification Market - Request Free Sample Report
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.
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
Need any customization research on Military Vehicle Electrification Market - Enquiry Now
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
The Major Players are 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.
Textron Inc-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.67 Billion |
| Market Size by 2030 | US$ 15.62 Billion |
| CAGR | CAGR of 13.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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 |
The market size of the Military Vehicle Electrification Market was valued at USD 5.67 billion in 2022.
The growth rate of the Military Vehicle Electrification Market is 13.5% over the forecast period 2023-2030.
The key players of the Military Vehicle Electrification Market are BAE Systems plc, Krauss-Maffei Wegmann GmbH, Textron Inc, General Motors Company, Nikola Corporation, Qinetiq Group Plc, General Dynamics Corporation, Arquus, Nexter group, and Leonardo S.p.A.
The Military Vehicle Electrification Market is segmented into 4 types: By System, By Platform, By Technology, and By Operation.
North America region dominated the Military Vehicle Electrification Market.
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
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Hydrogen Aircraft Market Size was valued at US$ 240.51 million in 2022 expected to reach USD 1743.91 million by 2030 and grow at a CAGR of 28.1% over the forecast period 2023-2030.
The Aircraft Fuel Tanks Market size was valued at USD 911.32 Million & is estimated to reach USD 1027.40 Million by 2030 and increase at a compound annual growth rate of 1.51% between 2023 and 2030.
The Air Data Systems Market size was valued at USD 851.36 Million in 2023 & is estimated to reach USD 1329.53 Million by 2031 and increase at a compound annual growth rate (CAGR) of 5.74% between 2024 and 2031.
The IoT in Aviation Market Size was valued at USD 1078.61 million in 2022 and is expected to reach USD 5293 million by 2030 with a growing CAGR of 22% over the forecast period 2023-2030.
The Military Drone Market Size was valued at USD 12.94 billion in 2023 and is expected to reach USD 22.72 billion by 2031 and grow at a CAGR of 7.2% over the forecast period 2024-2031.
The Military Wearable Market Size was valued at USD 5.32 billion in 2022 and is expected to reach USD 9.41 billion by 2030 with a growing CAGR of 7.4% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
