Global Military Power Solutions Market Overview
Military Power Solutions Market Size Anticipated to Reach at a USD 3,391.15 million in 2021 and is expected to reach USD 6,258.52 million by 2030, with a CAGR rate of 6.7% during 2022–2030.
Military power solutions are devices used to power military machinery and equipment, ranging from small electronic gadgets to large military vehicles across air, land, and sea. They comprise batteries, fuel cells, energy harvesters, generators, and solar power cells to support higher voltages and lower input signals as compared to commercial power supplies used by military hospitals and air traffic control facilities. They assist specific and standard voltage ranges for power continuity, control, and effective operations. In addition, they handle vibration and shock caused by tracked and wheeled military vehicles with the impact of artillery fire.
The military power solutions are used to power up isolated outposts, electronic gadgets, machinery, and military drones or UAVs too. The most prominent military power solutions used across the globe are batteries, generators, and solar power cells. The manufacturers of the military power solutions are constantly focusing on the development of the power solutions keeping in mind the rules and regulations set by the defense authorities.
People around the world had a shocked by the COVID-19 outbreak. Like the rest of the economy, the power sector has been impacted by the slump. Delays in payments and deficits have devastated the market. Government-owned distribution businesses are severely impacted. Lockdowns have created distinct and catastrophic challenges around the nation. Global public health disaster COVID-19 had harmed almost every industry and is expected to have long-term effects that will restrain industrial expansion throughout the forecast period.
The rising awareness regarding the harmful effects of fossil fuels on the environment, rising government initiatives to promote the adoption of clean and green energy, rising public and private efforts to curb carbon emissions, and growing adoption of green energy among consumers are the major factors that are expected to foster the growth of the global military power solutions market.
Drivers
Increasing demand for portable power supply solutions due to the Lightweight and small, Versatile, safe to use, low maintenance, and other features are expected to drive the growth of the global military power solution market over the forecast period. In addition, the rising need for high-endurance, high-density electric power for the effectiveness of military missions is another factor projected to fuel the growth of the target market.
Opportunities
The rising industrialization and urbanization in developing countries across the globe is expected to drive the demand for various renewable energy sources like geothermal energy and solar energy during the forecast period.
Restraint
The cost of the development is one of the major restraints which hinder the growth of the global military power solution market during the forecast period. The costs involved in procuring the raw materials for the power solutions are increasing the cost of final products which is limiting the defense forces to adopt the military power solutions.
Value Chain Analysis
The global military power solutions market Size is growing at a steady rate owing to increasing demand for durable and maintenance-free power solutions, growing need for portable power solutions, and rising defense electronic budget. The manufacturers of these solutions are constantly focusing on the development of the power solutions keeping in mind the rules and regulations set by the defense authorities. The value chain analysis for the military power solutions industry comprises of four major components which start with the R&D, followed by manufacturing, distribution & sales, and ends with post-sales follow-ups.
The global Military Power Solutions market has been segmented on the basis of type, source, platform, wattage, and region/country.
Based on type, the military power solutions market has been divided into portable and non-portable. The non-portable segment dominated the market in 2021 and is estimated to remain the same during the review period.
By source, the military power solutions market has been segmented into batteries, generators, fuel cells, solar power, and energy harvesters.
Based on the platform, the military power solutions market has been divided into air, marine, and ground.
By wattage, the military power solutions market has been segmented into low power, medium power, and high power.
The regions included in the study are North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The global Military Power Solutions market has been studied across Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America.
North America,to hold the largest market share in 2021. The United States' rising demand for military power solutions is the primary driver of the region's growing revenue share. One of the key elements influencing the increase of regional income is the deployment of US troops in various parts of the world as a result of the US's involvement in numerous international conflicts. In order to provide continuous or emergency power to these military camps and command units' diverse portable military equipment, small and transportable power solutions are needed. In addition, the military's increasing need for more modern power systems to run the machinery on various ground, air, and sea platforms is anticipated to drive the market's expansion in the coming years.
Asia-Pacific is the fastest growing, The growing defense expenditure of countries such as China, Japan, and India is expected to increase the demand for military power solutions in the region. The major sector of the Chinese market is anticipated to experience expansion.
The global market for Military Power Solutions is projected to witness healthy growth during the forecast period, owing to increasing demand for portable power supply solutions, growing demand for modern warfare techniques, and rising defense electronics budget.
Key players operating in the global Military Power Solutions market include Cummins Inc (US), Gresham Power Electronics Limited (UK), EaglePicher Technologies (US), Enersys (US), SAFT (France), Schaefer, Inc. (US), Arotech Corporation (US), SFC Energy AG (Germany), Raytheon Technologies Corporation (US), and GS Yuasa Corporation (Japan).
Collins Aerospace (a division of Raytheon) has created a new power module to serve open architecture programs including radar, signal processors, mission computers, and aircraft communication. For platforms working in severe environments with limited space, weight, and power (SWAP), the Collins 3Phase 3U power module provides up to 800 watts of power without the need for extra filtering hardware. On February 2022
Seanergy 2.0, a new lithium-ion (Li-ion) battery system for fully electric and hybrid ships, has been introduced by Saft, a TotalEnergies subsidiary. The marine battery can assist ship owners in lowering their fuel costs, CO2 and NOx emissions, and air pollution without compromising performance or being overly expensive. On June 2022
Enersys announced the successful integration of its ABSL Lithium-ion (Li-ion) batteries into the launch of the James Webb Space Telescope by the National Aeronautics and Space Administration (NASA). The Web space telescope, which replaces the venerable Hubble space telescope, was developed through international cooperation between NASA, the European Space Agency (ESA), the Canadian Space Agency (CSA), and Northrop Grumman, the leading company in the field. On December 2021
Cummins announced the acquisition of Meritor, Inc. had been completed. Through the integration of Meritor's people, products, and skills in axle and brake technology, Cummins will be positioned as a leading provider of integrated powertrain solutions in both internal combustion and electric power applications. On August 2022
As per MRFR, the global Military Power Solutions market has been growing significantly over the past few years. The global Military Power Solutions market has been segmented on type, source, platform, wattage, and region/country. Based on region, the Military Power Solutions market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
The scope of the global Military Power Solutions market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global Military Power Solutions market has been segmented on the basis of type, source, platform, wattage, and region/country.
Intended Audience
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: USD 6,258.52 Million |
| CAGR | 6.7% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 and 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, source, platform, wattage, and region/country. |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America |
| Key Vendors | Cummins Inc (US), Gresham Power Electronics Limited (UK) EaglePicher Technologies (US) |
| Key Market Opportunities | • Increasing popularity and need for renewable sources of energy • Increasing demand for UAVs which requires a long-lasting power supply |
| Key Market Drivers | • Issues related to the inefficiency in generating a high power output • High initial cost of development • High cost of thermoelectric materials • Stringent military regulations |
Military Power Solutions Market Highlights:
Frequently Asked Questions (FAQ) :
The nonportable segment is expected to drive the market during the forecasted period.
The global Military Power Solutions market has been growing rapidly over the past few decades and is expected to reach USD 6,258.5 Million by 2030, at a CAGR of 6.7% during the forecast period.
The ground segment is expected to register the highest CAR during the forecast period owing to the increasing demand for military power solutions for military base camps and military vehicles.
The fuel cells segment is anticipated to be the fastest-growing segment of the global market for military power solutions.
The North American region is expected to be the largest market for Military Power Solutions market during the forecast period.
Stringtent military regulations and the high initial cost of development may slow the growth of the Military Power Solutions market during the forecast period.
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