Global Military Vehicle Electrification Market Forecast to 2030: Increasing Demand for Lithium-Ion Batteries for Military Vehicles

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Mar 06, 2024, 13:45 ET

DUBLIN, March 6, 2024 /PRNewswire/ -- The "Global Military Vehicle Electrification Market by Platform (Combat Vehicles, Support Vehicles, Unmanned Armored Vehicles), System, Technology (Hybrid, Fully Electric), Mode of operation, Voltage Type and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The Military Vehicle Electrification market is estimated to be USD 4.1 billion in 2023 and is projected to reach USD 20.4 billion by 2030, at a CAGR of 25.6 % from 2023 to 2030. The military vehicle electrification market is being propelled by several key drivers, reflecting a shift towards advanced technologies and sustainable practices. Firstly, the imperative for enhanced operational efficiency and reduced logistical burden drives military forces worldwide to embrace electrification.

Electric vehicles offer improved energy efficiency and lower maintenance costs, contributing to streamlined logistics and increased operational range. Secondly, the growing concern for environmental sustainability and the need to reduce carbon emissions align with the global trend towards electrification. Military organizations are increasingly recognizing the benefits of electric propulsion systems in mitigating their environmental impact, meeting regulatory standards, and showcasing commitment to eco-friendly practices.

Power Generation: The Second Largest segment by system during the forecast period

Based on System, the military vehicle electrification market has been segmented into Power generation, Cooling System, Energy Storage, Traction Drive Systems/ Propulsion System, Power conversion, Transmission System. The Power Generation Segment is expected to acquire the second largest market share during the forecast period. The power generation segment is expected to experience significant growth in the military vehicle electrification market due to a combination of technological advancements, operational advantages, and strategic imperatives.

The integration of electric power generation systems in military vehicles enhances their overall efficiency and flexibility. These systems often include advanced generators and energy storage solutions, enabling vehicles to produce and store electricity on board. This capability facilitates a more agile and responsive deployment of power to various mission-critical systems and equipment, ultimately enhancing the operational capabilities of military vehicles.

Command and Control vehicles: The fastest growing segment by support vehicles during the forecast period

The Command and Control (C2) Vehicles segment is anticipated to experience growth in the military vehicle electrification market for several reasons. Firstly, C2 vehicles are critical components of modern military operations, serving as mobile command centers that facilitate communication, coordination, and decision-making. Electrifying these vehicles offers distinct advantages, such as reduced noise, increased stealth, and enhanced mobility, which are essential for effective command and control in diverse operational environments.

Secondly, electric C2 vehicles contribute to improved operational efficiency and flexibility. Electric propulsion systems enable quick acceleration, deceleration, and precise maneuvering, allowing for rapid deployment and repositioning on the battlefield. Additionally, the reduced maintenance requirements of electric drivetrains contribute to increased vehicle availability, ensuring that C2 vehicles are ready for deployment when needed.

Ammunition Replenishment Vehicle: The fastest growing segment by supply trucks during the forecast period

The ammunition replenishment vehicle segment is estimated to experience growth in the military vehicle electrification market for several reasons. Firstly, electrifying ammunition replenishment vehicles aligns with the broader trend of adopting electric propulsion systems in military logistics to enhance operational efficiency and reduce dependence on traditional fuel sources. Electric vehicles in this segment offer lower operating costs, reduced maintenance requirements, and increased reliability, contributing to more effective ammunition resupply operations.

Secondly, the need for agility and rapid response in modern warfare scenarios necessitates innovative solutions in logistics. Electric ammunition replenishment vehicles can provide quicker acceleration, improved maneuverability, and enhanced speed compared to traditional vehicles, allowing for faster and more efficient ammunition delivery to frontline units.

US to account for the highest market share in the military vehicle electrfication market in the forecasted year

The United States is poised to dominate the military vehicle electrification market due to a confluence of strategic, technological, and economic factors. Firstly, the U.S. possesses a robust and technologically advanced defense sector that continually invests in innovation. The country's military establishments prioritize the adoption of cutting-edge technologies, including electrification, to enhance operational efficiency and reduce environmental impact. Secondly, the U.S. has a thriving electric vehicle industry, benefitting from a well-established ecosystem of research institutions, manufacturers, and suppliers. This domestic expertise provides the military with a solid foundation for incorporating electric propulsion systems into their vehicles, ensuring reliable and scalable solutions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

Unmanned Armored Vehicles Segment to Register Highest CAGR from 2023 to 2030
Medium Voltage to be Dominant Segment During Forecast Period
Hybrid Segment to Have Largest Market Share During Forecast Period
Autonomous/Semi-Autonomous Segment to Hold Largest Market Share (2023-2030)
Energy Storage Systems to Display Largest Market Share During Forecast Period
North America to Exhibit Highest CAGR During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities for Players in Military Vehicle Electrification Market - Growing Investments, Military Modernization Programs, and Technological Advancements to Drive Market
4.2 Military Vehicle Electrification Market, by Voltage - Medium Voltage Segment to Lead Market During Forecast Period
4.3 Military Vehicle Electrification Market, by Mode of Operation - Manned Segment to Account for Largest Market Share During Forecast Period
4.4 Military Vehicle Electrification Market, by Platform - Combat Vehicles to be Dominant Segment During Forecast Period
4.5 Military Vehicle Electrification Market, by Region - North America to Have Largest Market Share During Forecast Period
4.6 Military Vehicle Electrification Market, by Country - France to be Fastest-Growing Market from 2023 to 2030

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advanced Modern Battlefield Requirements
5.2.1.2 Rising Demand for Electric Power Sources for Military Vehicles
5.2.1.3 Increasing Development of Autonomous and Unmanned Military Vehicles
5.2.1.4 Growing Defense Expenditures Worldwide
5.2.2 Restraints
5.2.2.1 Need for Balanced Power-To-Weight Ratio
5.2.2.2 Limited Range of Military Electric Vehicles
5.2.2.3 High Cost of Fuel Cell Electric Vehicles
5.2.3 Opportunities
5.2.3.1 Growing Demand for Hydrogen Fuel Cell Systems
5.2.4 Challenges
5.2.4.1 Lifecycle and Durability Issues of Integrated Systems
5.2.4.2 Lack of Standardized Charging Protocols
5.3 Ecosystem Analysis
5.4 Trends/Disruptions Impacting Customer Business
5.5 Technology Analysis
5.5.1 Additive Manufacturing
5.5.2 Computerized Weapon Systems
5.6 Value Chain Analysis
5.7 Case Study Analysis
5.7.1 Main Battle Tank Electrification
5.7.2 Reconnaissance Vehicle Electrification
5.8 Pricing Analysis
5.9 Average Selling Price Trend, by Region (USD Thousand)
5.10 Volume Analysis
5.11 Trade Data Analysis
5.12 Key Stakeholders and Buying Criteria
5.13 Key Conferences and Events
5.14 Regulatory Landscape

6 Industry Trends
6.1 Introduction
6.2 Technology Trends
6.2.1 Battery Sources and Types
6.2.1.1 Lithium-Ion Batteries
6.2.1.2 Lead-Acid Batteries
6.2.1.3 Nickel Metal Hydride Batteries
6.2.1.4 Solid-State Batteries
6.2.2 Advanced Integrated Communication and Network Systems
6.2.3 Lightweight Materials and Designs
6.2.4 Vehicle-To-Grid (V2G) Integration
6.3 Technology Roadmap
6.4 Impact of Megatrends
6.4.1 Autonomous Vehicles in Military Sector
6.4.2 Favorable Policies Supporting Electrification and Hydrogen Technologies
6.5 Supply Chain Analysis
6.6 Innovations and Patent Registrations

7 Military Vehicle Electrification Market, by Platform

8 Military Vehicle Electrification Market, by Mode of Operation

9 Military Vehicle Electrification Market, by System

10 Military Vehicle Electrification Market, by Technology

11 Military Vehicle Electrification Market, by Voltage

12 Military Vehicle Electrification Market, by Region

13 Competitive Landscape

14 Company Profiles

Oshkosh Corporation
Gm Defense
General Dynamics Corporation
Bae Systems PLC
Leonardo Spa
Textron Inc.
St Engineering
Qinetiq
Polaris Inc.
Aselsan As
Otokar Otomotiv Ve Savunma Sanayi
Rheinmetall AG
Thales Group
Krauss-Maffei Wegmann
Flensberg Fahrzeugbau
Arquus Defence
Epsilor Electric Fuel Ltd.
Nexter Group
Ukroboronprom
Milrem Robotics
Am General
Highland Systems
Alke
Mega Engineering Vehicles Inc.
FNSS

For more information about this report visit https://www.researchandmarkets.com/r/jwpl1e

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