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Global Military Vehicle Electrification Market Share Will Reach USD 9.5 Billion by 2026: Facts & Factors

·7 min read

[225+ Pages Research Report] According to Facts and Factors market research report, the Global Military Vehicle Electrification Market size & share revenue is expected to grow from USD 4.8 Billion in 2020 to reach USD 9.5 Billion by 2026, at 13% annual CAGR growth during forecast period of 2021-2026. The top market companies profiles included in report with their sales, revenues and strategies are Leonardo Spa, QinetiQ, General Motors, General Dynamics, Arquus, Oshkosh Corporation, BAE Systems Textron Systems, Nikola Corporation and others.

New York, NY, July 08, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Military Vehicle Electrification Market By Technology (Hybrid, Fully electric), By Platform (Combat Vehicles, Support Vehicles, and Unmanned Armoured Vehicles), By System (Power Generation, Cooling Systems, Energy Storage, Traction Drive Systems, and Power Conversion), and By Operation (Manned, and Autonomous/Semi-autonomous): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.

“According to the recent research report, the demand of global Military Vehicle Electrification Market size & share expected to reach to USD 9.5 Billion by 2026 from USD 4.8 Billion in 2020, at a compound annual growth rate (CAGR) of 13% during the forecast period 2021 to 2026”

Global Military Vehicle Electrification Market: Overview

Electric vehicles might reduce the Army's dependency on liquid fuels, improve signature management through silent operations, and supply exportable power. Countries all around the world are pouring money into electric military vehicle R&D in order to improve their military hardware's stealth, speed, and power. Every year, electronic warfare takes on new dimensions, and hardware electrification is a must-have for many armies looking to gain a tactical advantage over their opponents.

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Our Free Sample Report Includes:

  • 2020 Updated Report Introduction, Overview, and In-depth industry analysis

  • COVID-19 Pandemic Outbreak Impact Analysis Included

  • 225+ Pages Research Report (Inclusion of Updated Research)

  • Provide Chapter-wise guidance on Request

  • 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends

  • Includes Updated List of tables & figures

  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

Also Read, Lawn & Garden Consumables Market, 2021-2026

Industry Major Market Players

  • Leonardo Spa

  • QinetiQ

  • General Motors

  • General Dynamics

  • Arquus

  • Oshkosh Corporation

  • BAE Systems Textron Systems

  • Nikola Corporation

  • Krauss-Maffei Wegmann GmbH and Co. KG

  • AeroVironment

  • Ford Motor Company

  • Tesla Inc.

  • Lockheed Martin

  • Milrem Robotics

  • Alke

To know an additional revised list of 2020-2021 top market players, request a sample report: https://www.fnfresearch.com/sample/military-vehicle-electrification-market

Key questions answered in this report:

  • What is the projected market size & growth rate of the Military Vehicle Electrification Market?

  • What are the key driving factors for the growth of the Military Vehicle Electrification Market?

  • What are the top companies operative in Military Vehicle Electrification Market?

  • What segments are covered in Military Vehicle Electrification Market?

  • How can I get free sample report/company profiles of the Outdoor Power Equipment Market?

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The emerging global security threats are transnational in nature, needing a coordinated multinational response. Industries having a global presence, as well as relationships with local and international military vehicle industry participants and governments, are projected to benefit in this highly competitive economic environment. Companies looking to expand in this industry must be able to spot emerging dangers and the technologies needed to combat them, as well as provide full solutions that include services and equipment for military vehicle electrification. For instance, the Army Rapid Capabilities and Critical Technologies Office (RCCTO) awarded BAE Systems a contract worth USD 32.2 million in June 2020 to deliver two HED vehicles with upgraded engines, a replaced transmission electric drive motor, and the addition of lithium-ion batteries to power onboard vehicle equipment. The United States Army awarded GM Defense a USD 214.3 million contracts in June 2020 for the construction and maintenance of new Infantry Squad vehicles based on GM's Chevrolet Colorado ZR2.

Market Dynamics

  • Increased in the demand for Military Vehicles

Military vehicles with a lot of electronics use a lot of electricity, which is projected to limit battery capacity as discharge rates rise. Future generations of military land vehicles are likely to employ identical batteries to ensure fleet compatibility and upgradeability. The market will almost definitely profit from these factors.

Increasing demand for autonomous military vehicles, as well as rising oil prices and emissions regulations, are driving the military vehicle electrification market. For decades, the military has been ahead of the curve in autonomous vehicle technology development, having experimented.

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Global Military Vehicle Electrification Market: Segmentations

The global military vehicle electrification market has been segmented into technology, platform, system, and operation. Based on technology, the market has been categorized into hybrid, and fully electric. Based on the platform, the market is bifurcated into combat vehicles, support vehicles, and unmanned armoured vehicles. The unmanned armoured vehicle segment is expected to expand at the fastest CAGR during the projection period, based on the platform. The Military Vehicle Electrification market is predicted to grow at a proportionately faster rate than the other two platforms. During the projected period, the demand for military vehicle electrification in combat and support vehicles is expected to be similar. On the basis of System, the market is categorized into power generation, cooling systems, energy storage, traction drive systems, and power conversion.

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North America Region Dominates the Global Military Vehicle Electrification Market

Based on region, the market is divided into five major regions; North America, Europe, Latin America, Asia Pacific, and The Middle East and Africa.

The military vehicle electrification market in North America is expected to develop significantly over the projected period, owing to rising expenditures in military vehicle electrification technologies by countries in this region. European defence ministries are working to develop technologically superior military vehicles as well as acquire new vehicles to add to their collection.

The Asia Pacific military vehicle electrification market is estimated to grow at the quickest rate during the forecast period. Due to a growing focus on boosting military vehicle procurement spending by major economies in the region, the Asia Pacific military vehicle electrification market is growing.

Browse the full report “Military Vehicle Electrification Market By Technology (Hybrid, Fully electric), By Platform (Combat Vehicles, Support Vehicles, and Unmanned Armoured Vehicles), By System (Power Generation, Cooling Systems, Energy Storage, Traction Drive Systems, and Power Conversion), and By Operation (Manned, and Autonomous/semi-autonomous): Global & Regional Industry Perspectives, Comprehensive Analysis, and Forecasts, 2021 – 2026” at https://www.fnfresearch.com/military-vehicle-electrification-market

The global military vehicle electrification market is segmented as follows:

By Technology:

  • Hybrid

  • Fully electric

By Platform:

  • Combat vehicles

  • Support vehicles

  • Unmanned armoured vehicles

By System:

  • Power Generation

  • Cooling Systems

  • Energy Storage

  • Traction Drive Systems

  • Power Conversion

By Operation:

  • Manned

  • Autonomous/semi-autonomous

Key Highlights of this Report:

  • Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable

  • Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications

  • Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market

  • Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward

  • Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward

  • Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data

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