Military Vehicle Electrification Market
Military Vehicle Electrification Market Forecasts to 2028 - Global Analysis By Platform (Combat Vehicles, Combat Support Vehicles and Unmanned Armored Vehicles), By System (Cooling Systems, Energy Storage Systems and Other Systems), By Mode of Operation, By Technology and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $9.27 BN |
|
Projected Year Value (2028) |
US $49.24 BN |
|
CAGR (2022 - 2028) |
32.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Military Vehicle Electrification Market is accounted for $9.27 billion in 2022 and is expected to reach $49.24 billion by 2028 growing at a CAGR of 32.1% during the forecast period. A tactical vehicle with hybrid-electric capabilities and in-hub electric propulsion is the military vehicle electrification. Considering the current situation and the countries lowering their defense budgets, it might be a barrier to the expansion of this technology, but military vehicle electrification R&D is continually expanding. The import and export laws have caused operational and running issues for the manufacturing operation.
Market Dynamics:
Driver:
Demand for power resources
Military vehicles require a lot of power. The amount of horsepower from the prime mover that is available and the energy storage device needed to be used when necessary for vehicle mobility determine requirements such as acceleration, top vehicle speed, and braking system. It is necessary to set the requirement for silent monitoring power for extended periods of time while simultaneously taking into account the system's effectiveness as well as the demand and supply of energy. The Electro-Thermal Chemical/Ignition (ETC/ETI), the Electro-Magnetic Pistol, and the Electro-Magnetic Armor (EMA) require a high-voltage power pulse to operate.
Restraint:
Life and durability of integrated systems
The weight and power of modern military vehicles are the main issues. Military vehicles ought to be tough enough to survive the norms of the sector. Modern military vehicles must be capable of operating in challenging terrain, function in extreme conditions, and be water-resistant. Connectors, headers, and terminals used in internal electronic components are all made to be durable. The series contains connectors made of metal shells to satisfy the demands of the heavy-duty and transportation industries, such as the HD30 series, which is intended for the truck, bus, and off-highway sectors. Due to the rise in the number of components required to carry out essential duties, the connections run at high temperatures and do not show mechanical or physical damage during sinusoidal vibration levels.
Opportunity:
Increasing modern battlefield requirements such as silent mobility, and low thermal signature
Military hybrid electric and all-electric vehicles have many advantages in terms of operations, including the capacity to go further and to provide more onboard power for directed-energy weaponry, jammers, and electrified armor. Reduced fuel consumption, an acoustic and thermal signature, silent mobility, and a smaller maintenance and logistics footprint are some other benefits of the MVE. Combat and tactical vehicle hybridization increase camouflaging by lowering thermal and acoustic emissions, providing a tactical advantage in addition to enhancing stealth.
Threat:
Enhancement in the power-weight ratio
The power-to-weight ratio measures a vehicle's power output in relation to its weight. As a result, the relationship between weight and engine power is inverse. Performance decreases with increasing weight. Military vehicles have advanced as a result of technological advances since more safety features, mobility, and convenience have been introduced. Vehicles are anticipated to become significantly bulkier as a result of the addition of heavier battery cells. As a result, compared to their performance, vehicle weight has risen substantially. A car powered by fossil fuels and one powered by batteries differ significantly. The weight of a battery-powered tank is approximately 100 times greater than that of a diesel-filled tank, although the latter does not provide the same level of performance.
Covid-19 Impact:
Due to lockdowns, travel restrictions, and business closures, COVID-19 had an impact on the businesses and industries of numerous nations. The closing of numerous plants and factories has had a detrimental influence on the production, delivery schedules, and sales of products on the international market. Only a few businesses have already warned of potential delivery delays and eventual sales declines. Additionally, the chances for commercial relationships and collaborations are being impacted by the international travel bans implemented by nations in Europe, Asia-Pacific, and North America.
The power conversion segment is expected to be the largest during the forecast period
During the anticipated period, the power conversion segment is anticipated to dominate the market. Modern automobiles' high-voltage current requirements pose technical difficulties for power conversion. In order for the energy stored in the energy management systems to be utilized for the onboard vehicle systems, power conversion systems are necessary. A hybrid conversion kit for tactical vehicles was being developed by the Defense Innovation Unit (DIU) and the Project Manager Transportation Systems (PM TS) of the US Army's Program Executive Office for Combat Support and Combat Service Support (PEO CS&CSS) in November 2021.
The fully electric segment is expected to have the highest CAGR during the forecast period
Due to the development of sources other than ICE engines that increase the efficiency of vehicles, the fully electric segment is anticipated to grow at the highest CAGR during the forecast period. Since fully electric cars are still in the development stage, no military currently has an operating fleet of these vehicles. Furthermore, governments, businesses, and manufacturers are all making R&D investments to make it possible for military vehicles to be electrified.
Region with largest share:
The adoption of advanced military capabilities, such as modernizing military vehicles and improving their integrated systems, is projected to attract strong political support in the North American region during the forecast period, which is expected to propel the North American military vehicle electrification market to the top of the market. Moreover, another driving element is that the majority of the world's top producers and investigators of military systems and technology are situated in this area, where there are established protocols for working with governments on defense-related issues.
Region with highest CAGR:
Due to growing expenditures in military vehicle electrification technologies by nations like the US and Canada in this region, the military vehicle electrification market in the North American region is anticipated to experience the highest CAGR during the projected period. Additionally, the market for military vehicle electrification in this region is anticipated to expand as a result of rising demand for power systems brought on by the integration of new technologies and rising power needs in vehicles.
Key players in the market
Some of the key players in Military Vehicle Electrification market include Aselsan A.S , UKroboronprom, Textron Inc., Milrem Robotics, Leonardo SPA, Nextar Systems, Krauss-MaffeiWegmann GmbH & Co. KG, Highland Systems, General Motors, Epsilor-Electric Fuel Ltd., Qinetiq, BAE Systems PLC, Polaris Inc, Arquus, Oshkosh Corporation, Nikola Corporation, General Dynamics, AM General and Ballard Power Systems Inc.
Key Developments:
In July 2022, The US Army chose GM Motors to supply a battery-electric vehicle for testing and demonstration. The GMC HUMMER EV, which is built on GM's Ultium Platform, will be used by GM Defense to satisfy the US Army's needs.
In July 2022, Detroit Arsenal (ACC- DTA), the US Army Contracting Command, announced that it awarded Oshkosh Defense, a wholly owned subsidiary of Oshkosh Corporation, an order valued at USD 130 Million to upgrade 95 additional Stryker Double-V Hull Infantry Carrier Vehicles (ICVVA1) with the 30 mm Medium Caliber Weapon System (MCWS) and electrification of the component.
In May 2022, BAE Systems planned to provide power and propulsion technology to the heavy-duty industrial vehicle market. The company's electric drive system provides a revolutionary design that will help industrial vehicle original equipment manufacturers (OEMs) get their electric vehicles (EVs) to market faster and at a lower installed cost.
Platforms Covered:
• Combat Vehicles
• Combat Support Vehicles
• Unmanned Armored Vehicles
Systems Covered:
• Cooling Systems
• Energy Storage Systems
• Power Conversion
• Power Generation
• Traction Drive Systems
• Transmission System
• Other Systems
Mode of Operations Covered:
• Autonomous/Semi-Autonomous
• Manned
Technologies Covered:
• Hybrid Electric Vehicles
• Fully Electric Vehicles
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Military Vehicle Electrification Market, By Platform
5.1 Introduction
5.2 Combat Vehicles
5.2.1 Air Defense Vehicles
5.2.2 Mortar Carriers
5.2.3 Self-Propelled Howitzers (SPHS)
5.2.4 Light Armored Vehicles (LAVS)
5.2.5 Mine-Resistant Ambush Protected (MRAP) Vehicles
5.2.6 Armored Amphibious Vehicles (AAVS)
5.2.7 Weapon System Armored Personnel Carriers (APCS)
5.2.8 Infantry Fighting Vehicles
5.2.9 Main Battle Tanks
5.3 Combat Support Vehicles
5.3.1 Supply Trucks
5.3.1.1 Ammunition Replenishment Vehicles
5.3.1.2 Ambulances
5.3.1.3 Fuel Trucks
5.3.2 Repair and Recovery Vehicles
5.3.3 Command and Control Vehicles
5.4 Unmanned Armored Vehicles
6 Global Military Vehicle Electrification Market, By System
6.1 Introduction
6.2 Cooling Systems
6.2.1 Fans
6.2.2 Heat Exchangers
6.3 Energy Storage Systems
6.3.1 Fuel Cells
6.3.2 Batteries
6.3.2.1 Solid State Batteries
6.3.2.2 Lithium ion Batteries
6.3.2.3 Nickel Metal Hydride Batteries
6.3.2.4 Lead Acid Batteries
6.4 Power Conversion
6.4.1 Onboard Chargers
6.4.2 Power Inverters
6.4.3 DC-DC Convertors
6.5 Power Generation
6.5.1 Engines/Generators
6.5.1.1 Turbine Engines/Generators
6.5.1.2 Hybrid Engines/Generators
6.5.2 Traction Motors/Propulsion Motors
6.5.3 Air Induction Systems
6.5.4 Generator Controllers
6.6 Traction Drive Systems
6.6.1 Final Drives
6.6.2 Traction Controllers
6.6.3 Ex Drives
6.7 Transmission System
6.8 Other Systems
7 Global Military Vehicle Electrification Market, By Mode of Operation
7.1 Introduction
7.2 Autonomous/Semi-Autonomous
7.3 Manned
8 Global Military Vehicle Electrification Market, By Technology
8.1 Introduction
8.2 Hybrid Electric Vehicles
8.3 Fully Electric Vehicles
9 Global Military Vehicle Electrification Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Aselsan A.S
11.2 UKroboronprom
11.3 Textron Inc.
11.4 Milrem Robotics
11.5 Leonardo SPA
11.6 Nextar Systems
11.7 Krauss-MaffeiWegmann GmbH & Co. KG
11.8 Highland Systems
11.9 General Motors
11.10 Epsilor-Electric Fuel Ltd.
11.11 Qinetiq
11.12 BAE Systems PLC
11.13 Polaris Inc
11.14 Arquus
11.15 Oshkosh Corporation
11.16 Nikola Corporation
11.17 General Dynamics
11.18 AM General
11.19 Ballard Power Systems Inc
List of Tables
1 Global Military Vehicle Electrification Market Outlook, By Region (2020-2028) ($MN)
2 Global Military Vehicle Electrification Market Outlook, By Platform (2020-2028) ($MN)
3 Global Military Vehicle Electrification Market Outlook, By Combat Vehicles (2020-2028) ($MN)
4 Global Military Vehicle Electrification Market Outlook, By Air Defense Vehicles (2020-2028) ($MN)
5 Global Military Vehicle Electrification Market Outlook, By Mortar Carriers (2020-2028) ($MN)
6 Global Military Vehicle Electrification Market Outlook, By Self-Propelled Howitzers (SPHS) (2020-2028) ($MN)
7 Global Military Vehicle Electrification Market Outlook, By Light Armored Vehicles (LAVS) (2020-2028) ($MN)
8 Global Military Vehicle Electrification Market Outlook, By Mine-Resistant Ambush Protected (MRAP) Vehicles (2020-2028) ($MN)
9 Global Military Vehicle Electrification Market Outlook, By Armored Amphibious Vehicles (AAVS) (2020-2028) ($MN)
10 Global Military Vehicle Electrification Market Outlook, By Weapon System Armored Personnel Carriers (APCS) (2020-2028) ($MN)
11 Global Military Vehicle Electrification Market Outlook, By Infantry Fighting Vehicles (2020-2028) ($MN)
12 Global Military Vehicle Electrification Market Outlook, By Main Battle Tanks (2020-2028) ($MN)
13 Global Military Vehicle Electrification Market Outlook, By Combat Support Vehicles (2020-2028) ($MN)
14 Global Military Vehicle Electrification Market Outlook, By Supply Trucks (2020-2028) ($MN)
15 Global Military Vehicle Electrification Market Outlook, By Repair and Recovery Vehicles (2020-2028) ($MN)
16 Global Military Vehicle Electrification Market Outlook, By Command and Control Vehicles (2020-2028) ($MN)
17 Global Military Vehicle Electrification Market Outlook, By Unmanned Armored Vehicles (2020-2028) ($MN)
18 Global Military Vehicle Electrification Market Outlook, By System (2020-2028) ($MN)
19 Global Military Vehicle Electrification Market Outlook, By Cooling Systems (2020-2028) ($MN)
20 Global Military Vehicle Electrification Market Outlook, By Fans (2020-2028) ($MN)
21 Global Military Vehicle Electrification Market Outlook, By Heat Exchangers (2020-2028) ($MN)
22 Global Military Vehicle Electrification Market Outlook, By Energy Storage Systems (2020-2028) ($MN)
23 Global Military Vehicle Electrification Market Outlook, By Fuel Cells (2020-2028) ($MN)
24 Global Military Vehicle Electrification Market Outlook, By Batteries (2020-2028) ($MN)
25 Global Military Vehicle Electrification Market Outlook, By Power Conversion (2020-2028) ($MN)
26 Global Military Vehicle Electrification Market Outlook, By Onboard Chargers (2020-2028) ($MN)
27 Global Military Vehicle Electrification Market Outlook, By Power Inverters (2020-2028) ($MN)
28 Global Military Vehicle Electrification Market Outlook, By DC-DC Convertors (2020-2028) ($MN)
29 Global Military Vehicle Electrification Market Outlook, By Power Generation (2020-2028) ($MN)
30 Global Military Vehicle Electrification Market Outlook, By Engines/Generators (2020-2028) ($MN)
31 Global Military Vehicle Electrification Market Outlook, By Traction Motors/Propulsion Motors (2020-2028) ($MN)
32 Global Military Vehicle Electrification Market Outlook, By Air Induction Systems (2020-2028) ($MN)
33 Global Military Vehicle Electrification Market Outlook, By Generator Controllers (2020-2028) ($MN)
34 Global Military Vehicle Electrification Market Outlook, By Traction Drive Systems (2020-2028) ($MN)
35 Global Military Vehicle Electrification Market Outlook, By Final Drives (2020-2028) ($MN)
36 Global Military Vehicle Electrification Market Outlook, By Traction Controllers (2020-2028) ($MN)
37 Global Military Vehicle Electrification Market Outlook, By Ex Drives (2020-2028) ($MN)
38 Global Military Vehicle Electrification Market Outlook, By Transmission System (2020-2028) ($MN)
39 Global Military Vehicle Electrification Market Outlook, By Other Systems (2020-2028) ($MN)
40 Global Military Vehicle Electrification Market Outlook, By Mode of Operation (2020-2028) ($MN)
41 Global Military Vehicle Electrification Market Outlook, By Autonomous/Semi-Autonomous (2020-2028) ($MN)
42 Global Military Vehicle Electrification Market Outlook, By Manned (2020-2028) ($MN)
43 Global Military Vehicle Electrification Market Outlook, By Technology (2020-2028) ($MN)
44 Global Military Vehicle Electrification Market Outlook, By Hybrid Electric Vehicles (2020-2028) ($MN)
45 Global Military Vehicle Electrification Market Outlook, By Fully Electric Vehicles (2020-2028) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
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The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
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Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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