Global Military Vehicle Electrification Market by Technology (Hybrid Electric, Fully Electric), By Vehicle Type (Unmanned Ground Vehicles, Support Vehicles, Combat Vehicles), and By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021–2031
- account_circleAbout Me
Military forces must continually alter how they do battle, on account of various technological innovations that are being incorporated into modern warfare. If electrification technology is completely deployed, electric powered vehicles have the ability to quadruple ground force operating reaches, enhance performance, as well as in reducing an Army’s logistical load by almost half. With regards to cars in the future, leading automakers are now transitioning from using internal combustion engines to electric motors instead.
Tesla has garnered significant attention across the automotive industry, in part by breaking the stereotype of electric vehicles. Their offerings are sleek, practical, powerful, and affordable. The automobile industry is undergoing significant changes, with the global demand for electric vehicles increasing at 60 percent YoY, especially over the last four years. China has taken the lead with respect to this change.
The fast and broad adoption of vehicle electrification, from hybrid to all-electric vehicles, has begun to change the automotive landscape, from passenger cars to heavy transport and construction platforms, as well as in how appropriate support and repair may be delivered to these vehicles. This transition is now debunking various century-old assumptions concerned with internal combustion engines. Electrification has transformed vehicles into sensor platforms, communication nodes, and mobile computational hubs.
Key Market Segmentation
- Hybrid Electric
- Fully Electric
- Unmanned Ground Vehicles
- Support Vehicles
- Combat Vehicles
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Drivers of the Global Military Vehicle Electrification Market
- The demand for lithium-ion batteries in military vehicles is increasing
Due to the growing quantity of electronic equipment on current military land vehicles, power and energy requirements are continuing to rise, placing additional demands on vehicle battery technology. Traditional lead-acid batteries used in cars have reached their performance limits in many applications, necessitating the development of new battery technologies. Li-ion batteries have become one of the most widely used secondary battery technologies in a variety of applications. This is due to improvements in various aspects including electrode materials and cell design.
Restrain of the Global Military Vehicle Electrification Market
- Military electric vehicles have a limited range
Electric cars have now established a noteworthy presence in the commercial arena, however, the same is yet to occur in the defense sector. Electrical vehicles have long been used in the military, but their capabilities and uses are limited. This is due to the challenges faced in the defense sector as a result of range limitations. There are a large number of electric vehicles in the military sector; nevertheless, there is a need to expand the range and be open to alternative design ideas, allowing other industry participants to participate and further innovate. The military’s rationale for increasing energy efficiency and reducing fuel consumption is not based on cost; but rather, it is based on tactical benefits and efficiency experienced. The same must be acknowledged by industrial participants, and offered accordingly.
Opportunity of the Global Military Vehicle Electrification Market
- Developments of Hydrogen Fuel Cell-Powered Military Vehicles
All-electric vehicles that use hydrogen fuel cells are a step forward in the right direction. Fuel cell cars, on the other hand, employ hydrogen gas for delicate chemical processes that result in electrical energy. In the transportation industry, there has been a growing need for hydrogen fuel cells for military freight, equipment, and artillery logistics applications. Plug Power introduced a new product in March 2019 to expand its line of hydrogen-based fuel cells. The ProGen 30kW engine is a cost-effective option for today’s Electric Vehicles (EVs), with high utilization and dependable performance levels in tough conditions, quick fueling potential, and in the generation of zero percent emission levels.
Trends in the Global Military Vehicle Electrification Market
- Since the dawn of modern vehicles, the internal combustion engine has been a prominent technology. Electric cars have a bright future due to a shortage in fossil fuel reserves, subsequent environmental concerns.
- This market can anticipate to benefit from the development of advanced power electronic components.
- Elbit systems
- AM General
- Aselsan A.S.
- BAE Systems
- Ballard Power Systems
- Epsilor Electric Fuel Ltd
- Highland Systems
- Leonardo Spa
- Mega Engineering Vehicles Inc.
- Nexter Group
Recent Developments Among Key Market Players:
- In March 2021, Honeywell’s Newest Turbogenerator will power a biofuel-powered hybrid-electric aircraft.
- In February 2021, Elbit Systems was awarded a USD 46 million contract to supply an army in the Asia Pacific region with a 6*6 armor personnel carrier equipped with an electric motor, fire control equipment, and stabilizing systems.
- In December 2020, the US Army awarded Honeywell with a USD $1 billion contract for the development of an automotive gas turbine 1500 engine upgrade for its main battle tank, which is expected to accelerate the adoption of electrification applications on this platform.
For the Military Vehicle Electrification Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
- account_circleAbout Me
Request a Sample ReportWe'll get back to you as quickly as possible
USD / per unit
USD / per unit
USD / per unit
|Report Library Access|
|Data Set (Excel)|
|Company Profile Library Access|
|Free Custumization||No||up to 10 hrs work||up to 30 hrs work|
|Accessibility||1 User||2-5 User||Unlimited|
|Analyst Support||up to 20 hrs||up to 40 hrs||up to 50 hrs|
|Benefit||Up to 20% off on next purchase||Up to 25% off on next purchase||Up to 30% off on next purchase|