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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

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    Report

  • 261 Pages
  • February 2024
  • Region: Global
  • Markets and Markets
  • ID: 5350213
Description Jump to:
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.

Break-up of profiles of primary participants in the hypersonic flight market:
  • By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
  • By Designation: C-Level Executives - 35%, Director level - 25%, and Others - 40%
  • By Region: North America - 25%, Europe - 15%, Asia Pacific - 40%, Middle East - 15%, Rest of the World - 15%
Prominent companies in the military vehicle electrification market are Oshkosh Corporation (US), GM Defense LLC (US), General Dynamics Corpporation(US), BAE Systems (UK), Leonardo S.p.A. (Italy), among others.

Research Coverage

The market study covers the military vehicle electrification market across segments. It aims to estimate the market size and the growth potential of this market across different segments, such as system, platform, technology, mode of operation, voltage type, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying this report

This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall military vehicle electrification market and its subsegments. The report covers the entire ecosystem of the military vehicle electrification industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Advanced modern battlefield requirements, Rising demand for electric power sources for military vehicles, Increasing development of autonomous and unmanned military vehicle, Growing defense expenditures worldwide) Restraints (Need for balanced power-to-weight ratio, Limited range of military electric vehicles, High cost of fuel cell electric vehicles) Opportunities (Growing demand for hydrogen fuel cell systems) and challenges (Lifecycle and durability issues of integrated systems, Lack of standardized charging protocols) that impact the growth of the military vehicle electrification market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the military vehicle electrification market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the military vehicle electrification market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the military vehicle electrification market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Oshkosh Corporation (US), GM Defense LLC (US), General Dynamics Corpporation(US), BAE Systems (UK), Leonardo S.p.A. (Italy), among others in the military vehicle electrification market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Military Vehicle Electrification Market Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Inclusions and Exclusions
Table 1 Inclusions and Exclusions
1.5 Currency Considered
Table 2 USD Exchange Rates
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Research Process Flow
Figure 3 Research Design
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Industry Insights
2.1.2.2 Key Data from Primary Sources
2.2 Research Approach and Methodology
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Arrive at Market Size Using Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.3 Factor Analysis
2.3.1 Introduction
2.3.2 Demand-Side Indicators
2.3.2.1 Strategic Mobility Requirements
2.3.2.2 Operational Flexibility
2.3.2.3 Fuel Efficiency and Logistical Considerations
2.3.2.4 Environmental Sustainability Goals
2.3.3 Supply-Side Indicators
2.3.3.1 Financial Trends of Major Defense Contractors
2.3.4 Recession Impact Analysis
2.3.4.1 Russia-Ukraine War Impact Analysis
2.3.4.1.1 Impact of Russia-Ukraine War on Macro Factors of Military Vehicle Electrification Market
Figure 6 Impact of Russia-Ukraine War on Macro Factors of Military Vehicle Electrification Market
Table 3 Impact of Russia-Ukraine War on Micro Factors of Military Vehicle Electrification Market
2.3.4.2 Impact of Russia-Ukraine War on Micro Factors of Military Vehicle Electrification Market
Figure 7 Impact of Russia-Ukraine War on Micro Factors of Military Vehicle Electrification Market
2.4 Market Breakdown and Data Triangulation
2.4.1 Data Triangulation
Figure 8 Data Triangulation
2.5 Research Assumptions
2.6 Research Limitations
2.7 Risk Analysis
3 Executive Summary
Figure 9 Unmanned Armored Vehicles Segment to Register Highest CAGR from 2023 to 2030
Figure 10 Medium Voltage to be Dominant Segment During Forecast Period
Figure 11 Hybrid Segment to Have Largest Market Share During Forecast Period
Figure 12 Autonomous/Semi-Autonomous Segment to Hold Largest Market Share (2023-2030)
Figure 13 Energy Storage Systems to Display Largest Market Share During Forecast Period
Figure 14 North America to Exhibit Highest CAGR During Forecast Period
4 Premium Insights
4.1 Attractive Opportunities for Players in Military Vehicle Electrification Market
Figure 15 Growing Investments, Military Modernization Programs, and Technological Advancements to Drive Market
4.2 Military Vehicle Electrification Market, by Voltage
Figure 16 Medium Voltage Segment to Lead Market During Forecast Period
4.3 Military Vehicle Electrification Market, by Mode of Operation
Figure 17 Manned Segment to Account for Largest Market Share During Forecast Period
4.4 Military Vehicle Electrification Market, by Platform
Figure 18 Combat Vehicles to be Dominant Segment During Forecast Period
4.5 Military Vehicle Electrification Market, by Region
Figure 19 North America to Have Largest Market Share During Forecast Period
4.6 Military Vehicle Electrification Market, by Country
Figure 20 France to be Fastest-Growing Market from 2023 to 2030
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 21 Military Vehicle Electrification Market: Drivers, Restraints, Opportunities, and Challenges
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
Table 4 Defense Expenditure by Major Countries (USD Billion)
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
5.3.1 Prominent Companies
5.3.2 Private and Small Enterprises
5.3.3 End-users
Figure 22 Ecosystem Mapping
Table 5 Role of Companies in Ecosystem
Figure 23 Key Players in Ecosystem
5.4 Trends/Disruptions Impacting Customer Business
Figure 24 Revenue Shift and New Revenue Pockets for Military Vehicle Electrification Manufacturers
5.5 Technology Analysis
5.5.1 Additive Manufacturing
5.5.2 Computerized Weapon Systems
5.6 Value Chain Analysis
Figure 25 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
5.8.1 Average Selling Price Trend, by Battery Type (USD Thousand)
Figure 26 Average Selling Price Trend, by Battery Type (USD Thousand)
Table 6 Average Selling Price Trend, by Battery Type (USD Thousand)
5.9 Average Selling Price Trend, by Region (USD Thousand)
Figure 27 Average Selling Price Trend of Batteries, by Region (USD Thousand)
Table 7 Average Selling Price Trend of Batteries, by Region (USD Thousand)
5.10 Volume Analysis
Table 8 Volume Data of Military Vehicle Electrification, by Technology (Units)
5.11 Trade Data Analysis
5.11.1 Import Scenario
Figure 28 Import Data for Top 10 Countries for HS Code 8506
5.11.2 Export Scenario
Figure 29 Export Data of Top 10 Countries for HS Code 8506
5.12 Key Stakeholders and Buying Criteria
5.12.1 Key Stakeholders in Buying Process
Figure 30 Influence of Stakeholders on Buying Process, by Top Three Platforms
Table 9 Influence of Stakeholders on Buying Process, by Top Three Platforms (%)
5.12.2 Buying Criteria
Figure 31 Key Buying Criteria
Table 10 Key Buying Criteria, by Top Three Platforms
5.13 Key Conferences and Events
Table 11 Key Conferences and Events, 2024-2025
5.14 Regulatory Landscape
Table 12 North America: Regulatory Bodies, Government Agencies, and Other Agencies
Table 13 Europe: Regulatory Bodies, Government Agencies, and Other Agencies
Table 14 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Agencies
Table 15 Middle East: Regulatory Bodies, Government Agencies, and Other Agencies
Table 16 Latin America: Regulatory Bodies, Government Agencies, and Other Agencies
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
Table 17 Comparison Between 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
6.3.1 Introduction
Figure 32 Technology Map
6.3.2 Emerging Trends
6.3.2.1 Material Innovations
6.3.2.2 Modular Design and Upgrade
6.3.2.3 Autonomy and AI Integration
6.3.2.4 Maintenance and Support
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
Figure 33 Supply Chain Analysis
6.6 Innovations and Patent Registrations
Figure 34 Patent Publication Trend, 2013-2023
Table 18 Innovations and Patent Registrations, 2014-2022
7 Military Vehicle Electrification Market, by Platform
7.1 Introduction
Figure 35 Military Vehicle Electrification Market, by Platform
Table 19 Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 20 Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
7.2 Combat Vehicles
Table 21 Military Vehicle Electrification Market, by Combat Vehicles, 2019-2022 (USD Million)
Table 22 Military Vehicle Electrification Market, by Combat Vehicles, 2023-2030 (USD Million)
7.2.1 Main Battle Tanks
7.2.1.1 Global Security Concerns to Drive Market
7.2.2 Infantry Fighting Vehicles
7.2.2.1 Increasing Demand from Emerging Economies to Drive Market
7.2.3 Weapon Systems Armored Personnel Carriers
7.2.3.1 Need for Versatile and Mobile Combat Platforms to Drive Market
7.2.4 Armored Amphibious Vehicles
7.2.4.1 Rapid and Efficient Deployment of Military Capabilities from Sea to Shore to Drive Market
7.2.5 Mine Resistant Ambush Protected Vehicles
7.2.5.1 Patrol and Combat Operations to Drive Market
7.2.6 Light Armored Vehicles
7.2.6.1 Cross-Border Patrolling to Drive Market
7.2.7 Self-Propelled Howitzers
7.2.7.1 Enhanced Survivability and Agility to Drive Market
7.2.8 Mortar Carriers
7.2.8.1 Ability to Provide Rapid and Responsive Artillery Support to Ground Forces to Drive Market
7.2.9 Air Defense Vehicles
7.2.9.1 Protection from Aerial Threats to Drive Market
7.3 Support Vehicles
Table 23 Military Vehicle Electrification Market, by Support Vehicles, 2019-2022 (USD Million)
Table 24 Military Vehicle Electrification Market, by Support Vehicles, 2023-2030 (USD Million)
7.3.1 Supply Trucks
Table 25 Military Vehicle Electrification Market, by Supply Trucks, 2019-2022 (USD Million)
Table 26 Military Vehicle Electrification Market, by Supply Trucks, 2023-2030 (USD Million)
7.3.1.1 Fuel Trucks
7.3.1.1.1 Enhanced Refueling Capabilities During Extended Operations to Drive Market
7.3.1.2 Ambulances
7.3.1.2.1 Medical Support for Battlefield Emergencies to Drive Market
7.3.1.3 Ammunition Replenishment Vehicles
7.3.1.3.1 Enhanced Tactical Flexibility to Drive Market
7.3.2 Command and Control Vehicles
7.3.2.1 Network-Centric Warfare to Drive Market
7.3.3 Repair and Recovery Vehicles
7.3.3.1 On-Spot Maintenance, Recovery, and Towing Capabilities to Drive Market
7.3.4 Other Supply Trucks
7.4 Unmanned Armored Vehicles
7.4.1 Improved Autonomy to Drive Market
8 Military Vehicle Electrification Market, by Mode of Operation
8.1 Introduction
Figure 36 Military Vehicle Electrification Market, by Mode of Operation
Table 27 Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 28 Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
8.2 Manned Vehicles
8.2.1 Lower Upfront Investment to Drive Market
8.3 Autonomous/Semi-Autonomous
8.3.1 Reduced Human Risk on Battlefield to Drive Market
9 Military Vehicle Electrification Market, by System
9.1 Introduction
Figure 37 Military Vehicle Electrification Market, by System
Table 29 Military Vehicle Electrification Market, by System, 2019-2022 (USD Million)
Table 30 Military Vehicle Electrification Market, by System, 2023-2030 (USD Million)
9.2 Power Generation Systems
9.2.1 Engines/Generators
9.2.1.1 Rapid Recharge Minimizing Downtime to Drive Market
9.2.2 Generator Controllers
9.2.2.1 Transitions Between Electric-Only, Hybrid, and Generator-Powered Modes to Drive Market
9.2.3 Air Induction Systems
9.2.3.1 Rapid Acceleration and Sustained High-Speed Operations to Drive Market
9.2.4 Traction Motors/Propulsion Motors
9.2.4.1 Precise Control Over Vehicle Speed, Acceleration, and Deceleration to Drive Market
9.3 Cooling Systems
9.3.1 Heat Exchangers
9.3.1.1 Need for Thermal Management to Drive Market
9.3.2 Fans
9.3.2.1 Internal Combustion Engine Efficiency to Drive Market
9.4 Energy Storage Systems
Table 31 Military Vehicle Electrification Market, by Energy Storage Systems, 2019-2022 (USD Million)
Table 32 Military Vehicle Electrification Market, by Energy Storage Systems, 2023-2030 (USD Million)
9.4.1 Batteries
Table 33 Military Vehicle Electrification Market, by Batteries, 2019-2022 (USD Million)
Table 34 Military Vehicle Electrification Market, by Batteries, 2023-2030 (USD Million)
9.4.1.1 Lead-Acid Batteries
9.4.1.1.1 Resilience in Challenging Terrains and Diverse Operational Scenarios to Drive Market
9.4.1.2 Nickel Metal Hydride Batteries
9.4.1.2.1 Robust Energy Storage Solution to Drive Market
9.4.1.3 Lithium-Ion Batteries /Lithium-Polymer Batteries
9.4.1.3.1 Higher Energy-To-Weight Ratio to Drive Market
9.4.1.4 Solid-State Batteries
9.4.1.4.1 Reduced Risk of Thermal Runaway to Drive Market
9.4.1.5 Other Batteries
9.4.2 Fuel Cells
9.4.2.1 Extended Operational Range Than Batteries to Drive Market
9.5 Traction Drive Systems
9.5.1 Ex-Drive
9.5.1.1 High Torque to Drive Market
9.5.2 Traction Controllers
9.5.2.1 Seamless and Responsive Driving Experience to Drive Market
9.5.3 Final Drive
9.5.3.1 Enhanced Off-Road Capabilities to Drive Market
9.6 Power Conversion Systems
9.6.1 DC-DC Converters
9.6.1.1 Increased Applications in Hybrid Vehicles to Drive Market
9.6.2 Power Inverters
9.6.2.1 Seamless Integration of Renewable Energy Sources to Drive Market
9.6.3 On-Board Chargers (Alternators)
9.6.3.1 Energy Conservation Capabilities to Drive Market
9.7 Transmission Systems
9.7.1 Varied Rotation Ratios Between Drive Motors and Drive Wheels to Drive Market
10 Military Vehicle Electrification Market, by Technology
10.1 Introduction
Figure 38 Military Vehicle Electrification Market, by Technology
Table 35 Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 36 Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
10.2 Hybrid
10.2.1 Growing Investments by US Army to Drive Market
10.3 Fully Electric
10.3.1 Increased Stealth Capabilities and Reduced Noise to Drive Market
11 Military Vehicle Electrification Market, by Voltage
11.1 Introduction
Figure 39 Military Vehicle Electrification Market, by Voltage
Table 37 Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 38 Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
11.2 Low Voltage (Less Than 50 V)
11.2.1 Compactness and Agility to Drive Market
11.3 Medium Voltage (50-600 V)
11.3.1 Improved Safety and Agility to Drive Market
11.4 High Voltage (More Than 600 V)
11.4.1 Increased Power Output and Faster Charging to Drive Market
12 Military Vehicle Electrification Market, by Region
12.1 Introduction
Figure 40 North America to Witness Highest CAGR During Forecast Period
Table 39 Military Vehicle Electrification Market, by Region, 2019-2022 (USD Million)
Table 40 Military Vehicle Electrification Market, by Region, 2023-2030 (USD Million)
12.2 Regional Recession Impact Analysis
Table 41 Regional Recession Impact Analysis
12.3 North America
12.3.1 North America: PESTLE Analysis
12.3.2 North America: Recession Impact Analysis
Figure 41 North America: Military Vehicle Electrification Market Snapshot
Table 42 North America: Military Vehicle Electrification Market, by Country, 2019-2022 (USD Million)
Table 43 North America: Military Vehicle Electrification Market, by Country, 2023-2030 (USD Million)
Table 44 North America: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 45 North America: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 46 North America: Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 47 North America: Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
Table 48 North America: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 49 North America: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
Table 50 North America: Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 51 North America: Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
12.3.3 US
12.3.3.1 Climate Strategy to Drive Market
Table 52 US: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 53 US: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 54 US: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 55 US: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.3.4 Canada
12.3.4.1 Military Modernization Programs to Drive Market
Table 56 Canada: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 57 Canada: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 58 Canada: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 59 Canada: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4 Europe
12.4.1 Europe: PESTLE Analysis
12.4.2 Europe: Recession Impact Analysis
Figure 42 Europe: Military Vehicle Electrification Market Snapshot
Table 60 Europe: Military Vehicle Electrification Market, by Country, 2019-2022 (USD Million)
Table 61 Europe: Military Vehicle Electrification Market, by Country, 2023-2030 (USD Million)
Table 62 Europe: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 63 Europe: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 64 Europe: Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 65 Europe: Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
Table 66 Europe: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 67 Europe: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
Table 68 Europe: Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 69 Europe: Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
12.4.3 UK
12.4.3.1 Project Mercury to Drive Market
Table 70 UK: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 71 UK: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 72 UK: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 73 UK: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.4 France
12.4.4.1 Procurement of New-Generation Combat Vehicles to Drive Market
Table 74 France: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 75 France: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 76 France: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 77 France: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.5 Germany
12.4.5.1 Presence of Major Military Vehicle Manufacturers to Drive Market
Table 78 Germany: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 79 Germany: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 80 Germany: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 81 Germany: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.6 Russia
12.4.6.1 Rising Investments in Armored Vehicles and Electric Vehicles to Drive Market
Table 82 Russia: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 83 Russia: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 84 Russia: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 85 Russia: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.7 Italy
12.4.7.1 Defense Energy Strategy to Drive Market
Table 86 Italy: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 87 Italy: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 88 Italy: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 89 Italy: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.8 Norway
12.4.8.1 Favorable Electrification Policies to Drive Market
Table 90 Norway: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 91 Norway: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 92 Norway: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 93 Norway: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.4.9 Rest of Europe
Table 94 Rest of Europe: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 95 Rest of Europe: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 96 Rest of Europe: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 97 Rest of Europe: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.5 Asia-Pacific
12.5.1 Asia-Pacific: PESTLE Analysis
12.5.2 Asia-Pacific: Recession Impact Analysis
Figure 43 Asia-Pacific: Military Vehicle Electrification Market Snapshot
Table 98 Asia-Pacific: Military Vehicle Electrification Market, by Country, 2019-2022 (USD Million)
Table 99 Asia-Pacific: Military Vehicle Electrification Market, by Country, 2023-2030 (USD Million)
Table 100 Asia-Pacific: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 101 Asia-Pacific: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 102 Asia-Pacific: Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 103 Asia-Pacific: Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
Table 104 Asia-Pacific: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 105 Asia-Pacific: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
Table 106 Asia-Pacific: Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 107 Asia-Pacific: Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
12.5.3 China
12.5.3.1 Growing Demand for Sustainable Power Sources to Drive Market
Table 108 China: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 109 China: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 110 China: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 111 China: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.5.4 India
12.5.4.1 Indigenous Manufacturing of Electric Military Vehicles to Drive Market
Table 112 India: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 113 India: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 114 India: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 115 India: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.5.5 Japan
12.5.5.1 Technology Cooperation Act to Drive Market
Table 116 Japan: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 117 Japan: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 118 Japan: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 119 Japan: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.5.6 Australia
12.5.6.1 Australian Army Research Centre Initiatives to Drive Market
Table 120 Australia: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 121 Australia: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 122 Australia: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 123 Australia: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.5.7 South Korea
12.5.7.1 Investments in Advanced Battery Technology to Drive Market
Table 124 South Korea: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 125 South Korea: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 126 South Korea: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 127 South Korea: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.6 Middle East
12.6.1 Middle East: PESTLE Analysis
12.6.2 Middle East: Recession Impact Analysis
Figure 44 Middle East: Military Vehicle Electrification Market Snapshot
Table 128 Middle East: Military Vehicle Electrification Market, by Region, 2019-2022 (USD Million)
Table 129 Middle East: Military Vehicle Electrification Market, by Region, 2023-2030 (USD Million)
Table 130 Middle East: Military Vehicle Electrification Market, by GCC, 2019-2022 (USD Million)
Table 131 Middle East: Military Vehicle Electrification Market, by GCC, 2023-2030 (USD Million)
Table 132 Middle East: Military Vehicle Electrification Market, by Rest of Middle East, 2019-2022 (USD Million)
Table 133 Middle East: Military Vehicle Electrification Market, by Rest of Middle East, 2023-2030 (USD Million)
Table 134 Middle East: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 135 Middle East: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 136 Middle East: Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 137 Middle East: Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
Table 138 Middle East: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 139 Middle East: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
Table 140 Middle East: Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 141 Middle East: Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
12.6.3 Gulf Coast Countries
12.6.3.1 Saudi Arabia
12.6.3.1.1 Vision 2030 Initiative to Drive Market
Table 142 Saudi Arabia: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 143 Saudi Arabia: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 144 Saudi Arabia: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 145 Saudi Arabia: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.6.4 Rest of Middle East
12.6.4.1 Israel
12.6.4.1.1 Carmel Program to Drive Market
Table 146 Israel: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 147 Israel: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 148 Israel: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 149 Israel: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.6.4.2 Turkey
12.6.4.2.1 Presence of Leading Defense Companies to Drive Market
Table 150 Turkey: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 151 Turkey: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 152 Turkey: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 153 Turkey: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.7 Rest of the World
12.7.1 Rest of the World: PESTLE Analysis
12.7.2 Rest of the World: Recession Impact Analysis
Figure 45 Rest of the World: Military Vehicle Electrification Market Snapshot
Table 154 Rest of the World: Military Vehicle Electrification Market, by Region, 2019-2022 (USD Million)
Table 155 Rest of the World: Military Vehicle Electrification Market, by Region, 2023-2030 (USD Million)
Table 156 Rest of the World: Military Vehicle Electrification Market, by Latin American Countries, 2019-2022 (USD Million)
Table 157 Rest of the World: Military Vehicle Electrification Market, by Latin American Countries, 2023-2030 (USD Million)
Table 158 Rest of the World: Military Vehicle Electrification Market, by African Countries, 2019-2022 (USD Million)
Table 159 Rest of the World: Military Vehicle Electrification Market, by African Countries, 2023-2030 (USD Million)
Table 160 Rest of the World: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 161 Rest of the World: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 162 Rest of the World: Military Vehicle Electrification Market, by Voltage, 2019-2022 (USD Million)
Table 163 Rest of the World: Military Vehicle Electrification Market, by Voltage, 2023-2030 (USD Million)
Table 164 Rest of the World: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 165 Rest of the World: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
Table 166 Rest of the World: Military Vehicle Electrification Market, by Mode of Operation, 2019-2022 (USD Million)
Table 167 Rest of the World: Military Vehicle Electrification Market, by Mode of Operation, 2023-2030 (USD Million)
12.8 Latin America
12.8.1 Brazil
12.8.1.1 Growth Acceleration Program to Drive Market
Table 168 Brazil: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 169 Brazil: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 170 Brazil: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 171 Brazil: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.8.2 Mexico
12.8.2.1 Increased Military Budget to Drive Market
Table 172 Mexico: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 173 Mexico: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 174 Mexico: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 175 Mexico: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
12.9 Africa
12.9.1 South Africa
12.9.1.1 Internal Conflicts and Civil Unrest to Drive Market
Table 176 South Africa: Military Vehicle Electrification Market, by Platform, 2019-2022 (USD Million)
Table 177 South Africa: Military Vehicle Electrification Market, by Platform, 2023-2030 (USD Million)
Table 178 South Africa: Military Vehicle Electrification Market, by Technology, 2019-2022 (USD Million)
Table 179 South Africa: Military Vehicle Electrification Market, by Technology, 2023-2030 (USD Million)
13 Competitive Landscape
13.1 Introduction
13.2 Key Player Strategies
Table 180 Key Player Strategies
13.3 Market Share Analysis
Figure 46 Market Share Analysis of Key Players, 2022
Table 181 Degree of Competition
13.4 Market Ranking Analysis
Figure 47 Market Ranking Analysis of Top Five Players, 2022
13.5 Revenue Analysis
Figure 48 Revenue Analysis of Key Players, 2019-2022 (USD Million)
13.6 Company Evaluation Matrix
13.6.1 Stars
13.6.2 Emerging Leaders
13.6.3 Pervasive Players
13.6.4 Participants
Figure 49 Company Evaluation Matrix, 2022
13.6.5 Company Footprint
Table 182 Company Footprint
Table 183 Company Footprint, by Platform
Table 184 Company Footprint, by Technology
Table 185 Company Footprint, by Region
13.7 Startup/SME Evaluation Matrix
13.7.1 Progressive Companies
13.7.2 Responsive Companies
13.7.3 Dynamic Companies
13.7.4 Starting Blocks
Figure 50 Startup/SME Evaluation Matrix, 2022
13.7.5 Competitive Benchmarking
Table 186 Key Startups/SMEs
Table 187 Competitive Benchmarking of Key Startups/SMEs
13.8 Competitive Scenarios and Trends
13.8.1 Product Launches
Table 188 Military Vehicle Electrification Market: Product Launches, March 2020-October 2023
13.8.2 Deals
Table 189 Military Vehicle Electrification Market: Deals, January 2019-August 2022
13.8.3 Other Developments
Table 190 Military Vehicle Electrification Market: Other Developments, February 2019-December 2023
14 Company Profiles
(Business Overview, Products Offered, Recent Developments, Analyst's View Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats)*
14.1 Introduction
14.2 Key Players
14.2.1 Oshkosh Corporation
Table 191 Oshkosh Corporation: Company Overview
Figure 51 Oshkosh Corporation: Company Snapshot
Table 192 Oshkosh Corporation: Products/Solutions/Services Offered
Table 193 Oshkosh Corporation: Product Launches
Table 194 Oshkosh Corporation: Deals
Table 195 Oshkosh Corporation: Other Developments
14.2.2 Gm Defense LLC
Table 196 Gm Defense LLC: Company Overview
Table 197 Gm Defense LLC: Products/Solutions/Services Offered
Table 198 Gm Defense LLC: Deals
Table 199 Gm Defense LLC: Other Developments
14.2.3 General Dynamics Corporation
Table 200 General Dynamics Corporation: Company Overview
Figure 52 General Dynamics Corporation: Company Snapshot
Table 201 General Dynamics Corporation: Products/Solutions/Services Offered
Table 202 General Dynamics Corporation: Other Developments
14.2.4 Bae Systems PLC
Table 203 Bae Systems PLC: Company Overview
Figure 53 Bae Systems PLC: Company Snapshot
Table 204 Bae Systems PLC: Products/Solutions/Services Offered
Table 205 Bae Systems PLC: Other Developments
14.2.5 Leonardo Spa
Table 206 Leonardo Spa: Company Overview
Figure 54 Leonardo Spa: Company Snapshot
Table 207 Leonardo Spa: Products/Solutions/Services Offered
Table 208 Leonardo Spa: Product Launches
Table 209 Leonardo Spa: Other Developments
14.2.6 Textron Inc.
Table 210 Textron Inc.: Company Overview
Figure 55 Textron Inc.: Company Snapshot
Table 211 Textron Inc.: Product/Solutions/Services Offered
Table 212 Textron Inc.: Deals
Table 213 Textron Inc.: Other Developments
14.2.7 St Engineering
Table 214 St Engineering: Company Overview
Figure 56 St Engineering: Company Snapshot
Table 215 St Engineering: Product/Solutions/Services Offered
Table 216 St Engineering: Product Launches
14.2.8 Qinetiq
Table 217 Qinetiq: Company Overview
Figure 57 Qinetiq: Company Snapshot
Table 218 Qinetiq: Products/Solutions/Services Offered
Table 219 Qinetiq: Deals
14.2.9 Polaris Inc.
Table 220 Polaris Inc.: Company Overview
Figure 58 Polaris Inc.: Company Snapshot
Table 221 Polaris Inc.: Products/Solutions/Services Offered
Table 222 Polaris Inc.: Product Launches
Table 223 Polaris Inc.: Deals
14.2.10 Aselsan As
Table 224 Aselsan As: Company Overview
Table 225 Aselsan As: Products/Solutions/Services Offered
Table 226 Aselsan As: Deals
Table 227 Aselsan As: Other Developments
14.2.11 Otokar Otomotiv Ve Savunma Sanayi As
Table 228 Otokar Otomotiv Ve Savunma Sanayi As: Company Overview
Table 229 Otokar Otomotiv Ve Savunma Sanayi As: Products/Solutions/Services Offered
14.2.12 Rheinmetall AG
Table 230 Rheinmetall AG: Company Overview
Figure 59 Rheinmetall AG: Company Snapshot
Table 231 Rheinmetall AG: Products/Solutions/Services Offered
Table 232 Rheinmetall AG: Product Launches
Table 233 Rheinmetall AG: Other Developments
14.2.13 Thales Group
Table 234 Thales Group: Company Overview
Figure 60 Thales Group: Company Snapshot
Table 235 Thales Group: Products/Solutions/Services Offered
Table 236 Thales Group: Product Launches
14.2.14 Krauss-Maffei Wegmann
Table 237 Krauss-Maffei Wegmann: Company Overview
Table 238 Krauss-Maffei Wegmann: Products/Solutions/Services Offered
Table 239 Krauss-Maffei Wegmann: Deals
14.2.15 Flensberg Fahrzeugbau GmbH
Table 240 Flensberg Fahrzeugbau GmbH: Company Overview
Table 241 Flensberg Fahrzeugbau GmbH: Products/Solutions/Services Offered
14.3 Other Players
14.3.1 Arquus Defence
Table 242 Arquus Defence: Company Overview
14.3.2 Epsilor Electric Fuel Ltd.
Table 243 Epsilor Electric Fuel Ltd.: Company Overview
14.3.3 Nexter Group
Table 244 Nexter Group: Company Overview
14.3.4 Ukroboronprom
Table 245 Ukroboronprom: Company Overview
14.3.5 Milrem Robotics
Table 246 Milrem Robotics: Company Overview
14.3.6 Am General
Table 247 Am General: Company Overview
14.3.7 Highland Systems
Table 248 Highland Systems: Company Overview
14.3.8 Alke
Table 249 Alke: Company Overview
14.3.9 Mega Engineering Vehicles Inc.
Table 250 Mega Engineering Vehicles Inc.: Company Overview
14.3.10 Fnss
Table 251 Fnss: Company Overview
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View, Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats Might Not be Captured in Case of Unlisted Companies
15 Appendix
15.1 Discussion Guide
15.2 Knowledgestore: The Subscription Portal
15.3 Customization Options

Companies Mentioned

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

Methodology

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Table Information

Report AttributeDetails
No. of Pages261
PublishedFebruary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 4.1 Billion
Forecasted Market Value ( USD ) by 2030 $ 20.4 Billion
Compound Annual Growth Rate25.6%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Military Vehicle Electrification Market

The Military Vehicle Electrification market is a subset of the Military Aerospace and Defense industry. It focuses on the development and production of electric and hybrid-electric vehicles for military use. These vehicles are designed to reduce fuel consumption and emissions, while providing increased performance and reliability. They are also designed to be more cost-effective and easier to maintain than traditional vehicles. The market is driven by the need for more efficient and cost-effective military vehicles, as well as the increasing demand for green technologies. Governments around the world are investing in the development of electric and hybrid-electric vehicles for military use, as they offer a number of advantages over traditional vehicles. Some of the major players in the Military Vehicle Electrification market include Lockheed Martin, General Dynamics, BAE Systems, Northrop Grumman, and Raytheon. These companies are involved in the development and production of electric and hybrid-electric vehicles for military use. Show Less Read more

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